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Bo Money

edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts
31 replies 4.1K views
24

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  • Signed up for B! too but, two main gripes so far:

    1) No Apple Pay
    2) Face ID doesn't work with the app

    I'm sure they'll work on this but I really hope more of the 'big banks' enter the FinTech market. As someone who has probably tried every UK finch product out there, there's a severe disconnect between the 'bank' and the consumer. Maybe products like B! can help with that.
  • SystemSystem
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    eskbanker wrote: »
    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.... ;)

    Starling for your Bo money.
    Lorraine for your BoJo money.
  • sausage_timesausage_time Forumite
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    Slappermum wrote: »
    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...
    They seem to have fixed that - T&C's say free everywhere (for now).
  • Beachboy87Beachboy87 Forumite
    15 posts
    10 Posts
    Would this account be just like and other bank card in which you can use it to switch to another bank to claim a switch incentive?
  • colstencolsten Forumite
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    Beachboy87 wrote: »
    Would this account be just like and other bank card in which you can use it to switch to another bank to claim a switch incentive?
    It's not just any account. It is with BO.

    Sorry, I don't know whether their participate in CASS. Best if you ask them.
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • SnowTigerSnowTiger Forumite
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    Beachboy87 wrote: »
    Would this account be just like and other bank card in which you can use it to switch to another bank to claim a switch incentive?

    Opening a Bo account involves quite a lot of palaver. Punters have to download their app and, as I mentioned previously, take three selfies.

    If you want to open an account to transfer elsewhere it's probably far easier to open one with a mainstream bank.
  • I have asked Bo customer services about CASS and they told me that the Bo account is meant to be used alongside another bank account.

    They told me that you cannot currently switch in OR out of the account, so using it as a donor account won’t work.

    I’m going to use mine to keep fuel money separate as I always find it hard to track the amount I spend on fuel
  • adindasadindas Forumite
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    https://wearebo.co.uk/faq/

    It has also got review from Moneywise
    https://www.moneywise.co.uk/news/2019-11-28%E2%80%8C%E2%80%8C/natwest-launches-new-digital-bank-bo-it-any-good

    It seems to me that it is quite similar to Starling apart from the fact that they are using Visa Exchange rate instead of Mastercard Exchange rate and only two fee withdrawals per calendar month while Starling allow fee free multiple withdrawals..

    But what about the acceptability outside EU countries ??
    Has anyone tried to use "bo" debit card to withdraw cash from from cash machines outside EU countries without problem ??
  • eDickyeDicky Forumite
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    As a Visa debit card is provided, and virtually all the other fee-free 'travel' cards are MasterCard, this would be my only reason for opening this account. It may be handy with a few quid loaded in case of limited acceptance of MasterCard in some countries or a problem with their network.

    As for CASS switching, it's easy enough to open a normal RBS or other bank account for this purpose.
    Evolution, not revolution
  • looks good to me 500 GBP a day free cash withdrawals unlimited UK and foreign, quite handy if you go to cash only countries and you are frustrated by starlings 300 GBP cap
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