Money Jar is a dynamic and revolutionary new approach to banking that allows customers to open an account when it suits and in just 5 minutes. Opening a traditional bank account in Ireland can be cumbersome, requiring a lengthy approval process and often a long wait time to get an appointment for a meeting in the branch. Money Jar is a digital current account with convenient sign up and, unlike other major fintech platforms, Money Jar customers get an Irish IBAN, can pay bills, and receive wages. Money Jar offers unlimited money jars that can be shared with friends, to help customers stay on top of personal spending and improve long term financial wellbeing through better money management.
Money Jar is an Irish-owned fintech business headquartered in Dublin. All funds are held by a Tier 1 state owned Irish bank, which is regulated by the Central Bank of Ireland. Money Jar can set up digital current accounts quickly using its industry leading facial recognition technology. Money Jar has the best of what traditional banks have to offer, but with the convenience that all things digital can deliver, plus customers can talk to Money Jar’s Irish based customer care team if they need a helping hand.
Money Jar’s technology platform allows quick and safe identity verification to make the entire process straightforward and painless. Partnering with Mastercard, Apple Pay, Google Pay, Veriff and EML, Money Jar offers a safe and secure platform. When customers open an account with Money Jar, they are given a free virtual Prepaid Mastercard with contactless payments, at no additional cost. For those that prefer a physical card, they can order a Prepaid Mastercard from the app for €5, which will be delivered to their door. Money Jar fees are transparent and competitive. There is a monthly service fee of €2.99, free for the first four months, and pay as you go transaction fees. Money Jar promotes responsible, money management.
John Harkin, the Executive Chairman of Money Jar, said: ‘Consumers in Ireland have always been early adopters of technology, and this is no different in the banking sector. We know that *78% of Irish consumers manage their money or make payments using mobile devices, and a quarter have a digital bank account. Digital banking in Ireland is growing at an exponential rate. At Money Jar, we have seen this trend first hand with our customer growth rate at 70% month on month. Money Jar is a dynamic new approach for customers to manage their money.’
Money Jar enables consumers on the Money Jar platform to transfer money peer to peer instantly at no cost, as well as enabling users to pay bills, set up standing orders, and direct debits, and transfer money in and out using SEPA, as well as using it for contactless payments. Accounts can only be accessed by using pass codes, biometrics, and a two-step verification, making a Money Jar digital current account a safe choice – no sensitive data is stored in the app or cached on the mobile device. Today, many people use two separate accounts, a primary account for bills and wages, and a secondary account for mobile transactions. Money Jar provides a one stop solution for all of these tasks that is fast, efficient and reliable.