Banking

Dundalk company launches first Irish online-only banking service

Dundalk based and Irish owned

Donard McCabe

Reporter:

Donard McCabe

Dundalk company launches first Irish online-only banking service

Michael Bellew (centre), Managing Director of Cheetah Money, with colleagues Ronan Farrelly and Rachel Fitzpatrick launch the company’s prepaid Mastercards and IBAN current accounts for Irish market

Today sees the launch of the first Irish online-only banking service, by Cheetah Money, a Dundalk based and Irish owned company.

Cheetah Money launched their prepaid cards and IBAN current accounts for the Irish market, which they say offers an alternative to traditional banks.

It takes just four minutes to sign-up and open a personal account, say Cheetah Money, which makes it the fastest current account provider in Europe.

Once signed up, customers will get their own unique European IBAN, meaning they can make and receive online payments from anywhere in the world. Customers will also receive a Cheetah Money branded Mastercard which can be used to withdraw cash from any ATM worldwide.

Cheetah Money charge a flat monthly fee for the account and its services, which they say makes it the most transparent current account around, and there are no additional fees for spending cash abroad. Cheetah Money also offers real time foreign exchange rates.

The Irish online-only banking alternative is EEA licensed, meaning that it adheres to the strict regulations . It also has a dedicated Irish customer service team on hand to answer any queries.

Cheetah Money also has business account options available, designed to cater for start-ups, sole-traders, small businesses and SME’s. Each business account has the option of a custom Mastercard which can incorporate a company logo.

Speaking at the launch today, Cheetah Money Managing Director Michael Bellew was confident of the demand for the company’s services;

“To date, without any fanfare, we have already over 3000 customers using our accounts", he said, "and we expect that number to rise dramatically following our launch.

"We’re confident that we offer a simpler and more transparent service than existing traditional and online banking companies.

"Peace of mind is crucial when it comes to minding your money, and our dedication to complying fully with EEA regulations, together with our committed Irish customer service team, means our account holders can rest easy.”

For more information, or to set up an account, visit www.cheetahmoney.com.