It’ll be interesting to see what happens with the safeguarded funds and whether they actually get returned to customers.
6 Likes
Interestingly nothing on their website about this.
1 Like
It’s always a negative to see a company go under ( I liked @Dan5 's post but only because he broke the news, not because Viola has gone under), but the line "These requirements were imposed because we identified a number of serious concerns around the way that Viola operated its business and prevented the firm from dealing on behalf of its clients. " is a bit of an eye-opener.
As @coffeemadman observed, the Viola Black website is still up as if nothing has happened - although it is now 7 days since administration.
VB also did the bus-advert thing but on a smaller scale:
4 Likes
“Move Over Monzo” indeed 
11 Likes
They can’t have many customers with their charges
350,000 or so if the website is correct.
(number from memory…)
Absolutely - I’m interested to see how it plays out for an e-money institution and the customer’s funds from a regulation standpoint but it would be better for everybody if this hadn’t happened.
5 Likes
I’ve always wondered if the you’ll get your money back rings true in these cases. It tends to put me off using any services which are similar.
It’s why I’d never keep any significant funds in an institution that doesn’t have a full banking licence!!
6 Likes
I’d actually be interested to see who would deposit funds there…
Monzo clapped back
Great idea in theory - a pain in the arse in practice
“Extra piece of mind”
Oh dear. Is that contained in the chip on the card, do you think? I wonder how much extra processing power it adds to the human brain.
2 Likes
I wonder what they did that was so bad
3 Likes
Oops.
If you didn’t yet, read the thread , it’s concerning.
A couple from the thread.
Did you used to work for them?
Very detailed 
I too would be interested in your source