@wrennelson143 How do we know the money is only at those banks? If I'm not mistaken, the terms say our money could be at any regulated bank within and outside the EU.
For me the whole thing gives me this impression right now:
- Zero info on which MMF is being used (in the risk disclosure it says you may get back less than you deposited btw)
- No info on up to which amount our money is secured when it's sitting at a partner bank (deposit guarantee or investor compensation?)
- No info on which banks are used
- Basically, just "trust us (T212), a financial institution regulated in Cyprus, we'll take good care of your money".
To each their own I guess, but I'd personally stick to Trade Republic's 4% with the 100K deposit guarantee if you have access to it.