Bo Money

stclair

It appears Bo is now widely available for those who are interested.

https://wearebo.co.uk/?gclid=EAIaIQobChMIl6zS_-T45QIVmKztCh3zWgrpEAAYASAAEgLp6vD_BwE

WillPS

Is it any good? I can't tell if it'd be much use.

Robisere

Part of Natwest.
That's all I know.

System

2 free ATM withdrawals then 50p
2 free debit card replacements then £5

They could at least give free RBS Group ATM access.

Obviously, has a non-deodorant sounding name.

Zanderman

Clean link for anyone bothered by the odd-looking one in the OP's post:

https://wearebo.co.uk/

Note that the word Bo has an accented o and when cut and pasted it sometimes turns into an exclamation mark: B! - so the quotes pasted below look a bit odd.

Some info from their faqs:

You must be 18 or over and a UK tax resident to be eligible for a B! account. You’ll also need an iPhone on iOS 10 (or later) or an Android phone with 6.0 Marshmallow or above.

ABOUT US

Is Bo a bank?

NatWest is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

NatWest is on the Financial Services Register (number 121878). You can check it at https://www.fca.org.uk/register. NatWest's registered VAT number is GB 243852752.

What this means for you is that the money in your B! account is protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme (if you have accounts with both B! and NatWest, the maximum you'd be able to claim across all accounts combined is £85,000).

How do I pronounce Bo?

B! is pronounced the same way as go, tow, yo! and dough. It's the accent above our 'o' that turns a short 'o' into an 'oh' sound.

Is my data safe with B!?

Yes. Keeping your personal data safe and secure is really important to us. We will never sell your data to a third party or spam you.

If you want to know more about how we store and use your information read our privacy policy.

OPENING AN ACCOUNT

How do I open an account with B!?

You can open a B! account straight from your phone. You can download the app here.

What types of account can I open?

At the moment, you can only open a personal account (we don't offer joint accounts or business accounts).

Can anyone get a B! account?

You can open a B! account if you're 18 or over and a UK tax resident (if you live and work in the UK, you are).

However, if you also pay tax in another country, you won't be eligible. You’ll also need an iPhone running iOS 10 (or later) or an Android phone with 6.0 Marshmallow or above.

System

It appears the be one of the new breed of nanny banks for those who find their spending runs away with them and need tools to keep abreast of what's going on. It will analyse your spending and keep you notified of various things. It's part of NatWest and I did hear it is using Starling technology so I imagine the experience will be rather similar. Clydesdale did a similar thing when they launched their B Current Account. Makes me run fast in the opposite direction, but I'm sure others will welcome its launch.

Chino

It's the accent above our 'o' that turns a short 'o' into an 'oh' sound.

NatWest has clearly spent far too much time and money with a branding agency.

How do I pronounce B!?

danthemoneysavingman

Bo Money, Bo problems ;-)

Slappermum

FAQs:

Making cash withdrawals from ATMs in the UK, EU or anywhere else in the world is free when you use B!. However, you may be charged by the cash machine’s operator.

Terms and Conditions:

5. Account fees and charges

You can make up to two cash withdrawals from a cash machine each calendar month free of charge. But after that we will charge you 50p for every additional withdrawal from a cash machine in the UK or EU, or £1 if you’re using a cash machine anywhere else in the world.

I'm sure it inspires a lot of consumer confidence to have your FAQs contradict your terms and conditions...

SnowTiger

I've taken a punt and now have Bo.

Android app doesn't currently allow users to log in with their finger/thumb print. Apparently that's on Bo's todo list.

Sign up process is similar to other banks of this ilk, including asking for photo ID such as passport or driving licence. One aspect that might put some people off is that it asks you to take three pictures - one with a smile and another with your tongue out!

It appears the app will categorise transactions by type and merchant. I think it will also attempt to learn spending habits and warn customers when they're likely to overspend.

Bo offers ONE savings pot, where money can be held separately from the main account. I guess the idea is that punters put money for bills here so they don't accidentally spend it on shiny stuff.

I don't have my card yet. That will probably arrive next week. Unlike similar accounts Bo issues Visa rather than Mastercard cards.

eskbanker

At least it sounds like a more tempting proposition than BoJo Money, which apparently entails large chunks of your cash being siphoned off to friendly American pole dancers....