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Monese Feedback

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  • 24-06-2020 12:27pm
    #1
    LaAlgerie
    Closed Accounts Posts: 40 ✭


    Just wondering does anyone use this and how is it going?


    I set up an account on the app last week and today I got an email with the following questions:


    "1. What is the main purpose of opening the account?
    2. ... please specify the source of funds...
    3. What is your occupation/profession.
    4. How did you find out about Monese...


    ..."


    I had a local Irish account which was fine until the fees increased dramatically. I wasn't thrilled with the options in the market and I do like trying new tech. so I've been trying out these digital banks. The above is a joke! The others get you up and running with an IBAN in 5 minutes or so.
    Tagged:


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    #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,286 Mod ✭✭✭✭Jim2007


    LaAlgerie wrote: »
    Just wondering does anyone use this and how is it going?


    I set up an account on the app last week and today I got an email with the following questions:


    "1. What is the main purpose of opening the account?
    2. ... please specify the source of funds...
    3. What is your occupation/profession.
    4. How did you find out about Monese...


    ..."


    I had a local Irish account which was fine until the fees increased dramatically. I wasn't thrilled with the options in the market and I do like trying new tech. so I've been trying out these digital banks. The above is a joke! The others get you up and running with an IBAN in 5 minutes or so.

    It is not a joke, it is the standard MLA requirements, which are applicable to banks across the EU /EEA/CH. Some banks do it up front, some let you set everything up, but before you can actually use it, you must provide this kind of imformation, some setup you up, allow you to transfer money into it and only when you try and us they ask the questions.


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    #3
    banie01
    Registered Users Posts: 16,748 ✭✭✭✭banie01


    Those are the standard AML/KYC questions that you will encounter with every single bank I one variation or another when using their services.

    It's par for the course.


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    #4
    Delta2113
    Registered Users Posts: 2,707 ✭✭✭Delta2113


    I opened an account last year in April and was not asked these questions. Must be fairly new.

    Good Fintech option to have.


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    #5
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,286 Mod ✭✭✭✭Jim2007


    Delta2113 wrote: »
    I opened an account last year in April and was not asked these questions. Must be fairly new.

    Good Fintech option to have.

    It is been a requirement for a very long time... but as Monese is not a bank and the usual guarantee is not available, they may only have been required to do this of late.


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    #6
    LaAlgerie
    Closed Accounts Posts: 40 ✭LaAlgerie


    Jim2007 wrote: »
    It is been a requirement for a very long time... but as Monese is not a bank and the usual guarantee is not available, they may only have been required to do this of late.

    I simply commented on a user experience with a new service and you won't moral-superior defence psycho. That tells me a lot about you. I have no further replies to you.


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    #7
    Delta2113
    Registered Users Posts: 2,707 ✭✭✭Delta2113


    Got a notification that if I used my card in the next few days they would credit my account by €5. I topped up my bin company credit as a transaction and a few days later they credited my account with €5 - happy days.


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    #8
    Yyhhuuu
    Registered Users Posts: 798 ✭✭✭Yyhhuuu


    Delta2113 wrote: »
    Got a notification that if I used my card in the next few days they would credit my account by €5. I topped up my bin company credit as a transaction and a few days later they credited my account with €5 - happy days.

    Do moneese offer everybody €5.

    (As an aside I dont like the way banking is going. Very little employees now, all automated. Banking was once a career to be proud of before casino - banking arrived. Then the questions asked of Law abiding customers by arrogant poorly trained staff no better than shop assistants)


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    #9
    lordsheepface
    Registered Users Posts: 236 ✭✭lordsheepface


    They don't appear to accept email addresses ending in ".ie" when signing up in their Android App. Anyone else experience this?


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    #10
    Delta2113
    Registered Users Posts: 2,707 ✭✭✭Delta2113


    Delta2113 wrote: »
    Got a notification that if I used my card in the next few days they would credit my account by €5. I topped up my bin company credit as a transaction and a few days later they credited my account with €5 - happy days.


    - Got the e-mail again and topped up my bin company again and got another €5.


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