Swissquote Ventures into Digital Banking, Offering Multi-currency, Crypto-friendly Packages

September 30, 2023 at 07:35 PM
Swissquote Ventures into Digital Banking

Swissquote, a leading Swiss financial services provider renowned for its trading services, has made its inaugural step into the digital banking world with the introduction of two daily banking packages, namely ‘Bright’ and ‘Light’.

The foray into this new business avenue comes in response to the growing demand for comprehensive digital banking services that blend the conveniences of daily banking with a multi-currency and crypto-friendly debit card. These cards will be issued by Mastercard, further cementing broker’s partnership with the card giant.

  • Detailing the company’s newest offering, Jan De Schepper, Chief Sales and Marketing Officer at Swissquote, remarked, “Our novel banking and debit card packages have been meticulously crafted to cater to an evident demand that has resonated strongly with our client base – a desire for a multi-currency, crypto-accepting, wholly digital banking solution.”

The ‘Bright’ package, dubbed by the broker as the “most complete banking package”, encompasses both physical and digital debit cards. This offering, however, is subject to a monthly fee of CHF 6.9 post its initial six-month free service period. In contrast, the ‘Light’ package, free of any charges, extends only a virtual debit card, though it does not skimp on any of the banking services.

Further sweetening the ‘Bright’ package are perks like cost-free transactions across 13 currencies and up to five complimentary ATM withdrawals each month. Remarkably, its Mastercard debit card also accommodates payments made in popular cryptocurrencies, such as Bitcoin, Ethereum, and Ripple. The broker also alluded to their intentions to broaden this crypto repertoire in the foreseeable future.

Another unique incentive, the Trading Credit cashback program, is set to benefit Swissquote’s banking clientele. Users earn Trading Credits upon their spending, which can subsequently be leveraged for trading activities at a discounted rate. The credit percentages vary, with ‘Bright’ users reaping 1 percent on regular card transactions, and ‘Light’ users gaining 0.5 percent on crypto-based payments.

This ambitious move into digital banking underscores Swissquote’s vision to constantly evolve and cater to the dynamic demands of the contemporary financial landscape.

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