Swissquote Expands into Digital Banking

<p dir="ltr">Swissquote, popular for its trading services, has moved towards becoming a digital bank with the launch of two daily banking packages, 'Bright' and 'Light', the company announced today (Thursday).</p><p dir="ltr">Swissquote Enters Digital Banking</p><p dir="ltr">Both packages include comprehensive <a href="https://www.financemagnates.com/trending/revolut-redefining-convenience-in-digital-banking/">daily banking services</a>, along with a multi-currency and crypto-friendly debit card, issued by Mastercard. The Swiss company further highlighted a wide range of payment options supported by its banking packages and a cashback offer.</p><p dir="ltr">"Our new banking and debit card packages cater to a specific demand that many of our customers have expressed strongly: the need for a multi-currency, crypto-friendly, and fully digital solution," said Jan De Schepper, the Chief Sales and Marketing Officer at <a href="https://www.financemagnates.com/tag/swissquote/">Swissquote</a>.</p><p dir="ltr">"They combine the most requested payment features with our innovative Trading Credit cashback program. Payments are as secure as always, but now also physical-wallet-free, no matter where or when."</p><p dir="ltr">A Two-Tier Offering</p><p dir="ltr">As explained by Swissquote, 'Bright' offers the "most complete banking package" with a physical and digital debit card. However, users need to pay a monthly fee of CHF 6.9 after the first six months of free services to take advantage of this package.</p><p dir="ltr">'Light', on the other hand, is the free option, offering only a virtual debit card, although customers will have access to all digital banking services.</p><p dir="ltr">Other services being offered under 'Bright' are free transactions with 13 currencies and five free ATM withdrawals every month. Further, the <a href="https://www.financemagnates.com/fintech/payments/mastercards-latest-partnerships-and-how-they-affect-b2b-payments/">Mastercard debit card</a> can also make payments in <a href="https://www.financemagnates.com/terms/b/bitcoin/">Bitcoin</a>, <a href="https://www.financemagnates.com/terms/e/ethereum/">Ethereum</a>, and Ripple, with Swissquote's plans to add more cryptocurrencies.</p><p dir="ltr">Upon spending, Swissquote's digital banking users will receive Trading Credits, which can later be used to engage in trading at a reduced cost. The Trading Credits vary depending on the account tier: 0.5 percent with regular card payments, and 1 percent for 'Bright'; while 'Light' users will receive 0.25 percent with regular card payments, and 0.5 percent with crypto payments.</p><p dir="ltr">In other news, Swissquote announced the promotion of its General Manager, Nestor Verrier, to the <a href="https://www.financemagnates.com/executives/moves/swissquote-names-new-coo-as-lino-finini-is-going-to-retire/">role of Chief Operating Officer</a>, effective from January 1, 2024. He will replace Lino Finini, a long-time executive in the company, who is going to retire.</p>

This article was written by Arnab Shome at www.financemagnates.com.