Lender in hot water over its ‘Fomo’ loan for DCU students

Five complaints are understood to have been received by the university in relation to the product

19th February, 2017
A bank operating on DCU campus offered students so-called ‘Fomo funds’

Dublin City University (DCU) has received a number of complaints after a bank operating on campus offered students so-called ‘Fomo funds’ to finance their socialising.

Bank of Ireland’s latest student product, which is being trialled at its DCU branch, is a play on the phrase ‘fear of missing out’. It allows students to receive €100 into their bank account instantly by just sending a text.

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