On September 27 2018, Mintos introduces Trustly, a Swedish payment service provider. Mintos claims that deposits are processed instantly and will immediatelly appear on your account, assuming no extra anti-money laundering checks occur. Trustly was founded in 2008 to simplify online payments and make them easier as we are moving towards a cashless society.
At the time of writing this article, Mintos featured 6 payment providers which can be used to deposit or convert money: CurrencyCloud, CurrencyFair, Deutsche Kontor, EasyChange, PaySera, and TransferWise. Of these six, TransferWise was our personal favorite, due to the attractive fee schedule and the extra services it offers such as the borderless accounts which come with a free debit card.
The introduction Trustly comes as recently, Baltic Bank was removed from the peer to peer lending platform to make deposits after numerous complaints by investors of the Baltic Bank being too slow to process any deposits made by investors. Mintos is actively improving their services based on feedback by its community.
After making the deposit with the mobile app of KBC in Belgium I received the following message:
"Funds will be transferred to your Mintos account within minutes for payments made from 05:00 until 23:00 (UTC +3, EEST) with an individual 24 hour transaction limit up to EUR 1000. All other payments made via Trustly will be processed within the next working day."
5 minutes later at 12:20 PM CET, the money arrived in my Mintos account.
Trustly is supported in the following countries, it appears non-European countries are not supported: