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WeLab Bank

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  1. #11

    Join Date
    Jul 2012
    Posts
    40
    Quote Originally Posted by pin:
    Haven't had time to look in detail to the offering by WeLab, but note the following:

    - debit card / ATM card. Good
    - Time deposit rate of around 1.1% which isn't bad compared to the existing banks
    - Very low deposit requirements. May be good for FDHs.
    - During the Offer Period, an 8% cash rebate will be awarded to each eligible transaction made by the WeLab Debit Card (virtual and/or physical WeLab Debit Card) in any currency. If the eligible transaction is made in a currency other than Hong Kong Dollars, the cash rebate will be calculated based on Hong Kong Dollars after conversion at the applicable exchange rate. The maximum aggregated transaction amount eligible for the cash rebate shall be capped at HKD 3,000 for the entire Offer Period.
    - The Offer applies to a Welab Bank Limited’s (“WeLab Bank”, “we”, “us” or “our”) customer (“you” or “your”) who holds a valid bank account with us.
    Up to 4.5% deposit for 3-month FD (maximum amount: $50k). Only for first 10,000 customers.

  2. #12

    Join Date
    May 2013
    Posts
    565

    Here's what I think about new digital banks with flashy offers: they probably are not very secure. Case in point:

    https://www.bankingdive.com/news/dav...breach/582426/


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