the eu deposit protection scheme only covers €100,000 not millions
I'm still confused are they taking deposits? If they are and are an agent of wirebank they'd need to be authorised as a deposit agent in Ireland.
The above sounds like they are provinding a payment account rather than a bank account and are safeguarding the money in a Wirebank account.
I wouldn't call the card a Credit Card but they are happy to call it that.
We live in interesting times - the likes of BOI,AIB etc. really should be looking at launching a similar product - standalone or in partnership with a new start up.
it's great competition and the days of FREE Irish (yes with some strings attached) current accounts as I said before are far from over.
I'm still FREE with PTSB but if charges came in and I could not find another FREE provider in Ireland I would move my current account.
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