New Bank - Ok ? Zero

LightKnow

Hi all

I recently learned about bank called Zero

Zero sustainable money app, personal account and MasterCard debit card with our unique GreenScore to discover and reduce your impact.


Has anyone heard of this too? Anyone registering for waiting list?

It legit bank ? 

flaneurs_lobster

LightKnow said:

Hi all

I recently learned about bank called Zero

It legit bank ? 

It may well be "legit" but it is not a bank (nor does it claim to be).

App'n'card cash account. Not clear from a quick look at their website if it is actually available to sign up to yet.

Nice-looking choice of cards.

GrubbyGirl_2

Without FSCS protection I wouldn't touch it with a barge pole

Olinda99

agree - you need FSCS protection

friolento

When I went to their website, a message popped up saying they will be crowdfunding soon. No thanks.

flaneurs_lobster

friolento said:

When I went to their website, a message popped up saying they will be crowdfunding soon. No thanks.

Their website is all over the place but I read it as the crowdfunding is to fund the product's future expansion rather than for signing up for the product itself.

I'm afraid I require cold, hard, cash bribes to get me to sign up for these kinds of money apps.

Just being "focused on sustainability" is very worthy but it's not quite enough.

MarkFromCornwall

friolento said:

When I went to their website, a message popped up saying they will be crowdfunding soon. No thanks.

Yes, they are live on Crowdcube and have already passed their target.

LightKnow

This might sound silly but would they be able to have FSCS protection if they are still in the crowdfunding fase or if they are just coming out of it? 

They don't technically have any products yet ?

After looking into it more . They provide a rating and or sustainability score . Once you use there app or card to do shopping somewhere.


Part me is not convinced with what they set out to do or if they succeed. I guess I just keep eye on it for know 

friolento

LightKnow said:

This might sound silly but would they be able to have FSCS protection if they are still in the crowdfunding fase or if they are just coming out of it? 

They don't technically have any products yet ?

After looking into it more . They provide a rating and or sustainability score . Once you use there app or card to do shopping somewhere.


Part me is not convinced with what they set out to do or if they succeed. I guess I just keep eye on it for know 

Unless they have a banking licence, they will never offer FSCS cover. They are most unlikely to ever apply for a banking licence.  There are lots of fintechs who don’t have banking licences and FSCS. They are known as EMIs - Electronic Money Institutions.

Please don’t be impressed by their rating or sustainability score. It’s a meaningless Marketing gimmick.

LightKnow

friolento said:

LightKnow said:

This might sound silly but would they be able to have FSCS protection if they are still in the crowdfunding fase or if they are just coming out of it? 

They don't technically have any products yet ?

After looking into it more . They provide a rating and or sustainability score . Once you use there app or card to do shopping somewhere.


Part me is not convinced with what they set out to do or if they succeed. I guess I just keep eye on it for know 

Unless they have a banking licence, they will never offer FSCS cover. They are most unlikely to ever apply for a banking licence.  There are lots of fintechs who don’t have banking licences and FSCS. They are known as EMIs - Electronic Money Institutions.

Please don’t be impressed by their rating or sustainability score. It’s a meaningless Marketing gimmick.

Your probably right, when think about it, does feel like a marketing gimmick plus there better established things out there currently 

Thanks and everyone too

subjecttocontract

That's gonna be confusing....there is already a credit card being offered by Santander by the name of ZERO.