Fineco Bank: reliable bank?

alandaniel132

I plan to open an account Fineco Bank for the £100 referral from friend.
However, is Fineco Bank relaible bank?

Can I close this account after i get the bonus?

Thanks.

colsten

Assuming I know what you mean by 'reliable', I would say yes, they are but it's a bit academic IMO. I will shortly post some more about them in the Fineco thread.

My bottom line assessment is now that the Fineco bank account has multiple drawbacks (e.g. no FSCS protection, very slow Faster Payments in and out, inability to change card PIN, essentially useless app) is unlikely to be the best multi-currency account - certainly not if you are after GBP and EUR.

It is still worth going after their sign-up bonus, and Fineco may be of interest to investors and traders (I have not investigated the latter).

alandaniel132

colsten wrote: »

Assuming I know what you mean by 'reliable', I would say yes, they are but it's a bit academic IMO. I will shortly post some more about them in the Fineco thread.

My bottom line assessment is now that the Fineco bank account has multiple drawbacks (e.g. no FSCS protection, very slow Faster Payments in and out, inability to change card PIN, essentially useless app) is unlikely to be the best multi-currency account - certainly not if you are after GBP and EUR.

It is still worth going after their sign-up bonus, and Fineco may be of interest to investors and traders (I have not investigated the latter).

No FSCS protection.

Regarding the referral bonus, can I get the bonus (after bank in £1,000 and next hour withdraw £1,000) and then close this account?

Voyager2002

alandaniel132 wrote: »

No FSCS protection.

Regarding the referral bonus, can I get the bonus (after bank in £1,000 and next hour withdraw £1,000) and then close this account?

I suggest that you leave it for a couple of days, just in case they notice that you are "taking the p**s".

In any case, they do not support faster payments, so withdrawing money from them takes about three days. There is also a process for claiming the bonus, so you would need to keep the account open for more than a month.

Having said that, I find them very useful for holding investments in different currencies.

alandaniel132

Voyager2002 wrote: »

I suggest that you leave it for a couple of days, just in case they notice that you are "taking the p**s".

In any case, they do not support faster payments, so withdrawing money from them takes about three days. There is also a process for claiming the bonus, so you would need to keep the account open for more than a month.

Having said that, I find them very useful for holding investments in different currencies.

Thanks. I cannot find the terms and condition of the bonus.
And opening account and closing account, will not charges any fees?

colsten

alandaniel132 wrote: »

I cannot find the terms and condition of the bonus.

In which case, there is little point in going for the bonus as you will be disappointed.

Regarding charges: these are detailed in the general T&Cs.