You will be asked to terminate your card before being given the option to order a replacement.
Archives: FAQs
What are the main advantages of a Discretionary Portfolio Management service?
By opting for a Discretionary Portfolio Management service, you are placing your investment decisions in the hands of highly trained investment professionals to manage your investment. This frees you to focus on the things you do best.
The fee structure of Discretionary Portfolio Management services is based on the market value of your portfolio, rather than per transaction. In the case of MeManaged, the quarterly management fee is 1.2% p.a. of the portfolio value.
What is 3D Secure?
3D Secure (3DS) adds an extra layer of authentication for online transactions. With 3DS enabled, every online purchase requires two-step authentication, ensuring that no payment can be processed without your explicit authorisation.
Is MeDirect the portfolio manager of MeManaged accounts?
While the customer relationship is solely with MeDirect, the bank has partnered with BlackRock which is the world’s largest fund manager. MeDirect’s team of global investment experts maintain ongoing dialogue with fund managers at BlackRock to ensure that customers are receiving the best possible service.
How does 3D Secure work?
When making online purchases, the bank redirects the cardholder to a 3D Secure (3DS) page to verify their identity by entering a one-time code before finalising the purchase.
How can a portfolio manager invest on my behalf when he or she also has many other clients?
A Discretionary Portfolio Management service is tailored to your specific financial goals. However, it is not a personalised service. The purpose of understanding your goals and risk appetite when opening the account is to build an investment profile which fits into one of several investment strategies which the fund manager is pursuing. Once you have created your profile, your funds will be allocated to the strategy that best suits your needs, together with the funds of all the other investors whose profile fits into that same strategy.
How do I get the Secure Code?
When you proceed to checkout in the merchant app and select or input your MeDirect Debit Card details before clicking the ‘pay’ button, you will be redirected to the MeDirect Mobile App to approve the payment.
Alternatively, you may receive a notification on your mobile phone prompting you to authorise the payment. Simply go to the ‘Pending Authorisations’ section of the MeDirect Mobile App to approve it.
Can I close or make withdrawals from my MeManaged account?
You can withdraw funds from your MeManaged account at any time through online banking or the mobile app, providing a minimum balance of €100 is maintained. You can also redeem your MeManaged account any time. No additional fees or charges will apply.
How do I invest additional sums into my MeManaged account?
If you already have a MeManaged account and would like to set up a monthly contribution or invest a lump sum, log on to your account via the mobile app or online banking platform. Once you have accessed your portfolio, the options to set up a monthly contribution or deposit a lump sum will be visible next to the total current value of your portfolio. Click on the option you wish to pursue and follow the instructions provided.
How are the management fees for MeManaged paid?
Management fees are due at the end of each quarter (30th March, 30th June, 30th September and 30th December). These fees are automatically deducted from your MeManaged Cash Account which forms part of the MeManaged portfolio.
Should this account have insufficient cash, the amount due will be deducted from your Current Account. If there are insufficient funds in the Current Account, we will sell some of the Financial Instruments under Management within your MeManaged portfolio.
You can also opt not to have us debiting the Current Account to cover the fees, but instruct us to sell some of the Financial Instruments under Management within your MeManaged portfolio to cover the Management Fees due. This latter option requires a specific request from you which can be affected by clicking on ‘Change Management Fee Payment options’ when viewing your MeManaged portfolio on the mobile app or online banking platform.
The process outlined above came into effect on 16 November 2023. If you opened a MeManaged account prior to this date but have not yet updated your Management Fee Options you will, as a default, have your fees settled through the sale of Financial Instruments within your MeManaged portfolio.