For the past 30 years, technology made our world even more fast-paced, with every field of the known soaked in innovation and change. It makes everything it comes across better, or not. Some things should have remained as they were, some not. When we think of banks we often think of them as oligarchic institutions, with the boring philosophy of having people pay unnecessary money for poor service and user experience. It’s been a while since first revolutionary startups started challenging traditional banks, and now that more and more people are choosing their services for everyday necessities, they’re worth discussing a bit more.
Recognized Fintech (Financial Technology) capital in the world is London, home to two of the startups listed below:
We dwelt more on Revolut a few articles ago. London-based company Revolut, founded in 2015 by former Lehman Brothers and Credit Suisse trader Nikolay Storonsky, offers free EURO and GBP current accounts, lets you exchange money in 24 currencies currencies with no fees, fee-free ATM withdrawals (up to 200€/£ per month in the Free plan) and several other features like the traveller insurance, concierge (although it has to be improved), airport lounges. Head to the post above to read more. >>Revolut
N26 is a Germany-based fintech company which among all the other alternatives operates as the most simililar to a traditional bank. Opening an account gives you access to your own DE IBAN address, fee-free payments and ATM withdrawals (Euro currency only in Free plan) abroad and exchanges in 19 currencies with no further costs thanks to a partnership with Transferwise. N26 offers an online banking portal along with the mobile app. More plans and subscriptions are available, offering insurance and traveller privileges.
Some say bunq is the Apple of mobile banking. Truth is, although bunq might not be the most affordable option (8€/month, 5€ if on bunq pack), the Amsterdam-based bank gives you up to 25 accounts with their own unique IBAN, so that you choose where your money has to be kept (expenses, savings, travel etc… accounts), fee-free payments in foreign curriencies (in partnership with Transferwise), 10 free cash withdrawal per month, excellent support and in-app integrated user base community. A free plan is offered, but access to card payment (virtual and phisical) is denied. And! You can choose where to invest your own money. And if you subscribe, you get one free month of trial (you can always decide not to continue, with no costs) and a 10€ bonus you can spend in whatever you want by clicking on selected links, like this: >>bunq
No more space in your wallet due to the enormous amount of documents, cards and unused business cards you don’t want to get rid? The solution is: Curve. Curve lets you carry your most important cards in just one, managing all the expenses in one app, avoiding the risk of wandering with the wallet full of important cards. Tracking the transactions is easy, you can even change the payment method after the transaction has been made. Curve is free but has its own premium plan. Sign up with code HBB1P to receive 5£ upon subscribing.
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