I was constantly frustrated when living in Canada that Visa Debit cards were not a thing (started to be used in the last couple of years), so to buy anything online you had to have a separate credit card. Until being there I hadn’t even known that was a thing.
How can you have a UK, US and Australia bank account? As far as I know banks in these countries only open accounts for citizens of the country they operate in.
No. Non citizens (and non residents more to the point) can get accounts though it often requires completion of extra (tax) forms
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I’m an Australian citizen, and grew up there. I worked in the US, and thus have a social security number there, and opened an account whilst working there (which I have since closed). I’m now studying (and soon working) in the UK.
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I believe the UK, Australia and the US also have nothing against triple citizenship? (Unless you want to be an MP in Australia anyway).
I know someone with UK, French and US citizenship.
So I got access to tandem today - it’s not very impressive. The set-up is very vague and consists of ‘lulz give us access to your bank, it’s secure but we aren’t going to explain how’ (although this is sadly common in fintech).
Also (and I could be wrong about this ) - I though that they lost their banking license?
Everything is clearly worded to make it feel a bank but just this edge of saying it’s a bank…
It all gave me a very bad feeling.
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Yes, they did lose it. Then they bought a bank so they have [edit: / are getting (thanks Mirow)] a license now. They’re in a bit of an odd spot, in terms of how they’ll develop from here..
I thought they were buying a bank - has it actually completed?
Yes Tandem Bank relinquished their banking license and renamed Tandem Finance but they are now taking over Harrods Bank (subject regulatory approval) and hope to revert to being Tandem Bank upon completion
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Hum - I wish I had screen-captured the set-up blur because I am sure that it said ‘we are a new kind of bank’ which if they don’t actually currently have a banking license…
They are currently not licensed to hold money unddr the Tandem Finance license (though could under the Harrods Bank license) and are MiFID exempt.
Though theoretically possible their Tandem license has been revised but not yet updated on the public access database, though I think with the timescales of a submission that would be some months away yet
kind of puts me off entirely - how come it was revoked?
Due to legislative changes in PR China a major investor were forced to pull out (against their wishes but to comply with Chinese rules) and that impacted their short term fluidity
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Further coverage of that news about HSBC’s new app. The BBC don’t beat around the bush about why HSBC are springing to life - the threat of Monzo. Although they also throw in a red herring to avoid directly naming them - yolt, who I had never heard of and have <2% of the social media following. The other link also had one in Plum. Is that a bank or they just making it up? 
Yolt is quite well known and is backed by the bank ING
Is that in Europe or the U.K.? I see there was one mention of them on here some months ago but thought they were another preecard as i never heard of them elsewhere
Have been using Yolt for a while now . a few people who do quite well known
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It is an account aggregator app (like Tandem currently is) and not a prepaid card
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I have heard of Plum and thought it was an app where you can send payments to friends…but could not see the point when you can get a proper banking app
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Yolt works in the UK
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