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
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...
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