I guess Neat has no interest in being an independently licensed virutal bank.
Posts made by yukkevchuhau
Virtual Bank Licenses
Hopefully Neat is among the first 50 interested and become a self-sufficient independent bank without needing to rely on a third-party for account and card management.
RE: Traveling with the Neat Card
Just curious. Which CU are you with? I'm with SDFCU and Alliant CU (Chicago).
They both pass the Visa ISA 1% as a separate fee.
Although Alliant reimburses up to US$15 each month on fees charged by foreign ATM fees not in the many ATM networks Alliant is part of.
Capital One 360 doesn't charge forex or foreign ATM fees too.
HSBC charges 3% on overseas transactions, on top of another US$2.50 (non-Advance & non-Premier) at non-HSBCUSA ATM. Waived for Premier Customers.
RE: Top-Up from China
@iris_neat Since mainland China isn't considered as a foreign country, wouldn't it be better if there could be an easy way to topup directly from few specific banks like ICBC of China or even China Merchant bank rather than going through a long process of foreign remittance which cost extra fee and waste of one's time. It will also open a whole new opportunity for Neat to reach more people in the mainland especially foreigners
Hong Kong and Macau are regions under PRC sovereignty. However, because of historical reasons; each location HK, MACAU & the Mainland has its own set of financial, legal and judicial system. The banking systems in each location are independent of one another with their own individual respective regulations, licenses, guidelines and laws. They in-fact act like separate countries, even though all three locations is one country.
Until, the mainland relaxes wire transfers going outside its jurisdiction or the separate banking systems are integrated into one; it'll continue to be come considered international wire transfers.
We can only wait until 2047 & 2049 to know for sure. 😉
RE: Usage/Top-Up Android Notification Problem
@yukkevchuhau It said "Due to the Labor Day holiday (May 1), top-ups received after 4 pm Hong Kong time today will be processed on Tuesday. Thanks for your understanding and enjoy your holidays!"
Arghhh, the Golden Week. Time to hide in my cave and avoid the horde. :P
Hopefully, the pop-up messages could be altered so I could still read it after clicking into it.
RE: Usage/Top-Up Android Notification Problem
@yukkevchuhau If it's push notification regarding a card transaction, then it's only to notify that a purchase/refund happened as you can see all transaction records in the app in the
Transactionsscreen. Informational notification i.e. when we communicate delays with the processing of the top-ups due to the holiday period are not persisted in the app at the moment. We'll be adding a message/support tab soon, so all notifications and messages can be read from one place.
I was trying to read the message about Labour Day, but it was cut off at the pull-down indicator and it wouldn't show the full message when I pressed into it, then unlocked the app. I'm not sure what the full message was now.
Usage/Top-Up Android Notification Problem
I get a Push Notification and SMS when there's a recent activity on the card. However after I pressed the message in the message bar and key in pin to unlock the app, the Push Message doesn't appear and I can't find a history of any message anywhere in the App.
Sony Xperia Z3 Dual D6633 HK (Android 6.0.1, Offical Firmware 23.5.A.1.291)
Lost/Stolen, Fraulent Charge ud (Zero Liability Protection)
Does the card have any lost/stolen or fraudulent charge protection?
Or any sort of protection to the consumer in the event the card is lost/stolen and fraudulent charges are made?
RE: Top-up methods
For sure the services a regulated,otherwise they are not allowed to run business.
You can find the Information on there webpage:
Azimo Ltd. is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN 900220) for the issuing of electronic money. Azimo Ltd is licensed and regulated by HMRC as a Money Services Business (MSB) License Number 12676497
https://transferwise.com/us/state-licenses - on this site you can find all the US-Licenses they have and there is also the following information on the website:
"The transferwise program in the United States is sponsored by Community Federal Savings Bank, to which TransferWise is a service provider, execpt in certain states in which TransferWise Inc is a licensed money transmitter"
They are also licensed in UK. You can find also on their website.
TransferWise ist in Großbritannien bei der Steuerbehörde "Her Majesty's Revenue and Customs" (HMRC) mit der Zulassungsnummer 12591871 als Zahlungsdienst registriert. TransferWise ist von der britischen Finanzaufsichtsbehörde FCA als Finanzdienstleister für internationale Überweisungen unter der Nummer 900507 uneingeschränkt zugelassen.
Eingetragen im Companies House von England und Wales unter der Nummer 07209813
Both services are registered and licensed in UK and be FCA which is the same as HKMA in HongKong
We have really strict KYC/AML laws in European Union (and UK is still part of EU ;-)) and they are legaly licensed.
I understand they're licensed where they're HQed in and it's great.
However, in case of problems, it'll be easier for citizens, nationals, residents of the countries, state, province, region, terrritory they're licensed in to complain and visit the HQ or government licensor. But, for a foreign national living thousands of miles away; I won't be able to set foot into the country without the hassle of getting a visa, if needed and assuming it'll be approved. Then, buy plane tickets, fly there and acquire lodging. Then, navigate the red-tape and bureaucracy of a unfamiliar country, culture and government assuming I can communicate in the language and understand the legalese.
I researched where they're licensed on their websites when I made my previous post. in Not in the places I need.
I may seem overly cautious. But, hey, better safe than sorry; especially when doodoo hits the fan. Always expect the unexpected.
RE: Top-up methods
Hello, Azimo, transverwise etc. are located in Europe and are European Services.
I use them and they are quick and cheap.
I send a email to Neat tominform them about the transfer and it works perfectly.
Azimo and trasferwise should also offer their services in US and you can pay them also with debit card and credit card.
So in general it should be possible to "unload" your neat card also via this services, because you can also make transfers to your home country and pay with neat card.
Unfortunately, Instarem is only a currency vendor regulated by the HK Customs & Excise Dept. They're not let licensed by the HKMA in HK, in any authority in Mainland China, or any Federal Entity or state in the U.S. Website also doesn't show availability in the U.S.
Transferwise doesn't seem to show they're licensed or regulated by OCC, FDIC, CFSB or New York State in the U.S., & Mainland China.
Azimo doesn't seem to show they're licensed or regulated by any authority in the U.S., Mainland China, or HK.
They seem to be new niche currency exchange operators catering primarily to the European Market and their expats.
With the financial collapses worldwide in the last 30+ years, I'm wary of putting my money anywhere not licensed and regulated by the governments where the currency originates.