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

Lender in hot water over its ‘Fomo’ loan for DCU students
A bank operating on DCU campus offered students so-called ‘Fomo funds’

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

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.

An email promoting the new product said it would ensure...

Subscribe from just 1€

Exclusive offers

Choose the subscription that is right for you

Monthly Subscription

€1

For the first month

€19.99 Monthly Thereafter

Subscribe today

Cancel anytime

Annual Subscription

€200€149

For the first year

€199.99 annually thereafter

Subscribe today

Cancel anytime

Quarterly Subscription

€55€42

For the first 90 days

€55.00 quarterly Thereafter

Subscribe today

Cancel anytime

These offers are not available for current subscribers. Offers and pricing are subject to change without notice.

Terms & Conditions Apply

Please Subscribe or Log in to continue

Subscribe Login

Related Articles

More from The Business Post