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vivid.money now available for Irish Customers

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  • 12-05-2024 9:54am
    #1
    Yggr of Asgard
    Registered Users Posts: 5,163 ✭✭✭


    They finally got their own banking license, so they now accept customers from around the EU for both their free and paid prime accounts.

    They offer cashback (into Stocks), Interest earning savings pockets (5% for 2 months and then 2% or 4% depending on plan, paid daily, invested into Money Market Funds), different card types and a full current account.

    However, the pricing structure is very convoluted, make sure to check the T&C https://vivid.money/en-eu/legal-documents/ . The relevant ones are for Vivid Money SA.

    Could be a good account for a while if your circumstances fit.



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    #2
    zell12
    Registered Users Posts: 23,845 ✭✭✭✭zell12


    You have to go digging to find the fees for standard a/c - card costs €19.90! https://vivid.money/en-eu/compare/



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    #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,070 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/122128834#Comment_122128834

    There are a number of concerns I'd have with this - first I very much doubt they are covered by the bank guarantee, simply because they go out of their way to not answer the question, next the corporate structure is complex with part of it being located in Germany, The Netherlands and Luxembourg, their so called "pockets" are not accounts, reading the small print it seems in ones I looked at, you are investing in money market products, so that gives a different risk and tax profile and of course their is the question of their relationship with Russia.

    Personally I would not touch the thing, but everyone needs to do their own research and decide for themselves.



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