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Klarna starts its own fixed-term deposit account directly in its app

28 ianuarie 2022

Klarna, one of the world’s leading banking, payment and shopping service providers, is launching its new fixed -term deposit offer „Festgeld+” in the Klarna App today. „The savings account is opened in a few minutes and offers annual interest rates that are currently among the most attractive offers in all of Europe,” the company said in a press release.

„From now on, consumers can use the Klarna app to manage their deposits anytime, anywhere and easily increase their savings”. 

Felix Würtenberger, Card & Banking Lead at Klarna : “The Klarna app is the Swiss army knife of consumer apps. You can take care of your daily banking transactions very quickly, easily keep an eye on payments, shop at your favorite shops and now also earn outstanding interest on your savings – all in the Klarna app. Combined with our budgeting tools and spend analytics, the Klarna app makes typically boring and tedious money management a breeze, helping consumers take control of their finances and develop smart habits.”

Due to steadily falling interest rates over the last decade, a whole generation of German savers have been denied fair returns on their hard-earned money. On the contrary: Traditional banks even introduced account management fees in large numbers . At the same time, savings rates have risen to record levels during the COVID-19 pandemic . As a result, now more than ever, consumers need good alternatives to protect their savings and invest profitably.

„With Festgeld+, Klarna is responding to these needs and offering consumers a secure, easy-to-setup and profitable solution for their savings,” according to the press release. 

„To start saving, consumers simply need to open a Klarna bank account in the latest version of the app, deposit money from an external account and transfer the desired amount to their savings account. With Fixed Deposit+, consumers have the choice between 4 maturities with effective annual interest rates of up to 1.15% and can start saving from as little as €1,” the company explains. 

Equipped with a full banking license from the Swedish Financial Supervisory Authority, Klarna already holds the equivalent of 6 billion euros in customer deposits. In Germany, Festgeld+ will complement Klarna’s existing desktop fixed deposit offering and partnership with deposit marketplace Raisin. 

Fixed-term deposit+ at a glance

. Fixed-term deposits with a term of 12, 24, 36 or 48 months that start with extremely attractive annual interest rates of 0.5%, 0.85%, 1.05% or 1.15%.

. Easy, paperless account opening with just a few clicks in the Klarna app.

. No account management fees. Both the Klarna bank account and the fixed-term deposit account are free of charge. 

. Customer deposits are guaranteed by the Swedish Deposit Guarantee Scheme up to €100,000.

. Biometric login with fingerprint or face recognition for additional security.

. 24-hour customer service directly in the Klarna app.

„Festgeldplus+ is the first of a series of new financial management features that will follow in 2022 and builds directly on the extensive services that were introduced in November 2021 with the relaunch of the Klarna app,” the company added.

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Merging everything from shopping inspiration and easy payment methods to transparent banking, budgeting tools and shipment tracking in one place, the Klarna App gives over 45 million users worldwide maximum flexibility, transparency and control over their finances.

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Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?