All Collections
Bloom Money Basics
Is Bloom Money a savings account?
Is Bloom Money a savings account?
Updated over a week ago

Bloom Money is not a traditional savings account; it is an e-money service designed to facilitate group payments for clubs and social savings circles. As an authorised Electronic Money Institution, AF Payments is not able to provide you with interest for the e-money in your account. This means that you will not earn interest on the e-money you hold in your Bloom Money account, distinguishing it from conventional savings accounts offered by banks. [In due course, we are also working on attaching a Debit card to your Bloom Money account, which you will be able to use for everyday spending.]

Did this answer your question?