Another New Bank Account. *Science Card*

Hi people

Just seeing if anyone has any thoughts about this new bank card and accounts that science bank offer.

But if a weird name for a bank or fintect company.

Reading though the different information they offer and different accounts am confused to why they are using science and technology on this bank

Thoughts appreciate

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I doubt there are many people who are so interested in science that they’ll switch their bank to this. Seems like an incredibly niche market and will almost certainly fail within a short period.

That being said, I think the cards look quite nice.

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  • A free Mastercard debit card, with founding member status

  • Explore research projects in the Science Card app

  • Founding members will get early access to Science Card, founding member discounts on Premium accounts, enhanced referral rewards, and an opportunity to input into our product development.

  • Coming Soon: All of our payments and financial features, in pounds sterling, euros and US dollars

  • Contribute to research projects through round-ups, direct grants and via Science Card’s 10% profit contribution

  • Coming Soon: earn a share of the project’s IP - with a potential payback if the IP is commercialised.

LAST SENTENCE EARN A SHARE OF THE PROJECTS IP AND PAYBACK OF THE IP IS COMMERCIALISED, NEVER HEARD A BANK DO OR OFFER THIS

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Paging @ndrw for the card collection. It’s, to me anyway, beautiful. Or at least one to watch, not sure I would want to signup just yet……

Now, onto the proposition itself. Mixed feelings. I like the look and feel of the app but the whole thing looks very early days and a pipe dream.

Talking about things such as offering founder, current and business accounts when you’re, from the looks of it, not even FCA registered and don’t have a public available app to download. Lol.

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Well they’re not a bank, yet. Nor an EMI. Sounds like we are at crowdfunding round status here so that’s what they’re saying but in different terms.

Just in case anyone’s thinking of investing there’s a 99% chance you won’t get any money back as with all things such as this. But you all knew this anyway.

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Many Thanks For your Replys

Am not savy in crowdfunding or banking registration or FCA approved so I appreciate your reply with this information.

Doesn’t all banks start out the same?

I signed up a while back and got a email from the company also.

I like the app if that is what it’s going to look like, The credit score seems so much better than monzos

But then the more I look at it the more confused I get…

Some more information on this science card and banking

I just signed up to the wait list too, quite funny that they ask if you’ll switch to them as your main bank considering they don’t even exist yet.

I agree it seems more aspirational. Payment cards (they don’t appear to be anywhere near being a bank) are pretty common these days.

“Science Card will also direct 10% of its profits to fund scientific R&D projects at leading UK universities,”

“Ultimately, Science Card estimates that it will attract more than two million customers by 2028 and generate scientific funding worth upwards of £100 million per year.”

So they’re going to make a billion profit from 2 million customers? Monzo has way more and has only just broken even…

If you read that as they’re going to rely on fees (~£5/mo/customer is doable) they’ll struggle to get to 2 million I’d think.

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:rofl:

Yeah, as soon as I saw the title I knew it had been posted elsewhere, along with your interest in another card for your collection :smile:

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