All this EU banking talk got me wanting to open a Fineco account after all. Do they do UK credit checks and/or do they show on UK files?
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I can’t remember if they do a credit check as I opened my account ages ago. I think there may have been some kind of check at Experian (possibly only a soft check)?
They don’t seem to show on credit files though.
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Thanks! Account opened(?) and I set up a password and a PIN but now I’m stuck in the forever loop of logging on to a welcome screen, then after doing the tour being logged in only to repeat the process…
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What happens if you try to log in via a web browser on a computer?
I get the same loop but saw some small print saying that the account will be opened shortly, so watch this space…
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Been told that driving licence doesn’t prove citizenship and to send passport. Why offer that option at all then?
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Is that for Italian residents? (Drivers lic)
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I used my passport when I signed up, which went fine, so I’d recommend that.
They presumably have to be quite fussy as they are operating their UK arm from Italy, so they have to do proper manual verification of documentation without a link to UK credit reference agencies?
Perhaps they only use driving license as an option if you change address and want to update your details with them, after your identity has already been verified, or something like that?
Because Fineco offer a trading platform, you will also be required to fill in some questionnaires disclosing your investment confidence and whether you have any US links, etc. This is standard even if you don’t intend to use the trading side of the account.
Once open, though, I’ve found them no hassle.
Possibly, some aspects of Fineco UK are “copies” of their Italian operation. It may not actually be available to UK customers, but is left on the site.
I’m always quite wary of receiving emails out of the blue or sending personal documents via email but just received a call, too. They said that the citizenship and the place of birth didn’t match and I said it’s because they wouldn’t let me declare more citizenships. So now emailed my passports over to them… let’s see.
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I used their website to upload a PDF of my passport, but that’s probably only available if you do it during initial application.
I imagine you were a bit “in limbo” because your initial driving license upload was rejected.
Hopefully they will now sort it out!
@anon47616136 Did this get sorted out in the end, after you emailed?
I just wondered how good their support had been about the whole thing.
So after their email asking for passport I emailed back asking what’s the most secure way of providing this. Someone called the following day, we had a chat about the shortcomings of their onboarding form and left agreeing that I’ll send them all my passports over email.
About 3-4 working days later I got the email that the account was approved and I got another call asking if I had any questions about the account and if I knew it had investment options.
No news about my card at all since opening, though…
Update: card was issued 07:20 today it just went to Spam
More or less the same time mine was issued! Although I only applied a few days ago
Maybe they do them in batch? If they’re shipped from IT that would make sense.
No tracking or anything though…
Yeah quite possibly - did you go for GBP or EUR?
The chap on the phone mentioned you’d be able to specify a safe place etc with DHL if you wanted but I’ve not heard from them yet
On the Fineco app the card is now there but you have to activate it online - which appears to be different to removing the account limits via the card number…
I went for an EUR card though I’ll probably just continue using Chase/Barclaycard when spending abroad. Fineco is mainly for the collection & to have an EU IBAN.
Maybe we’ll get a tracking link in a few days?
I also haven’t logged in online yet. Will need to see what they want me to do to activate the card.
Yeah same here - I didn’t have a dedicated EUR card, certainly not with a European IBAN
From what I’ve read some people get the GBP card to take out cash and go to the bank after they’ve received inbound payments in EUR and converted - I haven’t transferred out yet as you need the card to allow it.
I believe the website is needed to activate the card - it’s also needed to be able to view certain stock market data
Instant SEPA Payments to the IT IBAN from Revolut have been immediate with a notification - sort code and account number within 24h of sending - not sure if it will be the same outbound
On an email from them I saw it mentioned that they have a temporary passport whilst they apply for a full banking license - I think this needs to be finalised by the end of this year!
Fineco had an app update today saying they have a new look. I was excited, but it’s just the same old look. Though it’s been re-engineered to feel more native on iOS, if that makes sense. It feels less like I’m clicking embedded links on a page designed in Word.
So now that I finally have my Fineco card, how would spending with it work?
If I transfer myself GBP, does it do an active conversion when spending on the EUR card? Or is there some wallet I need to top up first?