I completely agree. If I didn’t know better I would think great, I can stick £100k in there and it’d all be safe. Revolut are similar, as I imagine a lot of other EMIs.
On a seperate note, I’ve got it as a “backup” for an upcoming holiday, but also because unless chase opens its doors this is for me the right mix of fintech and simplicity. They are starting to work on some new features, and If I hear back I’ll let folks know here on progress.
I personally think there is a difference. You know for sure 85k is protected. You have no such guarantee with any administrators.
Also EIM’s can’t lend or use the money for investment. So I can’t understand why any financial organisation would want to stay in that position any longer than they have to.
Exactly, which is why I feel the statement that Algbra made regarding the security of your money is potentially misleading.
I appreciate everyone’s individual risk appetite is different but they should be clearer.
Hey - did anyone else get any strange emails from Algbra today saying that their card had been removed from Apple Pay? I got sent two of them - although the card itself is still setup in Apple Pay and I’ve used it since then so it still seems to be working ok.
I did! But I had just removed it so I presumed that it was because of that.
Just used Algbra as the backup card abroad. It’s been great. Worked without issue and the feedback I’ve sent has been picked up straight away.
A great experience. I think if they start offering connection into budgeting tools then it might become the day to share spender.
I don’t want to tempt fate but the cashback delay issues seem to have been sorted now. Cashback is coming through reasonably quickly now. Still not as quick as Chase but the ‘delay’ is not sufficiently long to be an inconvenience.
It’s better but still very startup like, unlike Monzo they do at least read your replies and respond with good detail. I messaged them a few times last week while on holiday and got a response within a few hours
Revolut referrals need their transactions to settle so likely this.
Any reason to use the virtual card via Curve and not just directly with Apple/Google Pay? You should be able to add them?
You get the 1.5% cashback using it direct on gpay, not so on gpay via Curve.
Using Curve, did you use that by Gpay? And did you get the 1.5?
Are there restrictions with Algbra?
Ah sorry yeah I meant just the 1.5% stuff. Haven’t paid any due care to the referrals tbh. I did finally get one for revolut though which was something.
Yes, the way they process cash back is really slow and unhelpful.
When you do get the cashback it goes into the same account, and I’m not sure if it’s me but it feels like you haven’t actually received any cashback. Personally I’d rather see it accumulate separately and then transfer a lump sum.
Feed it back (if you haven’t already). They’re really up for new ideas, I’ve been speaking to them about things such as connecting into budgeting tools etc.
I agree, would be nice to see just the cashback total box outside of the transaction
Just a soft check I recall. They’re not a bank nor offer any lending.
For me - it was a soft check few months back.
Go for pink. Not sure we’ve seen one of those over in the card designs thread.
