French telecoms giant Orange has announced the launch of its mobile-banking only service in Spain with the promise of discounted phone calls.
It comes after the company set up the 100% mobile banking service two years ago in France, which proved to be a resounding success with over 500,000 new registrations.
Facilities will include a savings account, Mastercard debit card, cheque account and discounted mobile phone bills.
Customers will be able to perform all the normal daily banking operations such as checking their balances, paying with Apple Pay, managing their debit cards and making free Sepa money transfers.
The banking app will also include a ‘group management’ feature, which will allow account holders to share or transfer funds and expenses among several people.
General Director of the Bank in Spain Narciso Perales said, “Banking is accelerating towards an online model, concentrated around access via mobiles, and Orange wants to play a leading role by providing a competitive, simple and accessible offer at any time and place. One of our differentiating values lies precisely in being a bank that does not come from the traditional banking space. Our hallmark as a leading telco enables us to be the most suited to design a mobile banking service for today’s highly mobile population.”
The new accounts will have a Spanish IBAN code and offer interest rates of 1% on balances up to €20,000. Customers in Spain will also not be charged any registration fees to set up the service.
Paul de Leusse, CEO of the Bank, commented. “Orange Bank, now strongly established in France with 500,000 customers after two years of existence, is proud to expand its footprint with its Spanish branch. I congratulate the multidisciplinary teams of professionals across France and Spain who worked in a truly agile mode to deliver this new and unique offer in Spain, one of the Group’s largest European markets. Banking and financial services is a key strand of the Group’s multiservice strategy and reinforces Orange’s commitment to deliver services designed to enrich our customers’ lives.”
Image Credit: Orange.com