Ferratum Bank plc

Business Summary

Services
retail banking
Products
Area Served
MTMalta
ESSpain
DEGermany
SESweden
NONorway
FRFrance
Account Currencies
EUEUR
foreign currencies
Card Providers
MasterCardMasterCard

Ferratum Bank plc provides services in the area of retail banking. The range of products offered by Ferratum Bank plc includes current accounts, savings accounts (0.40 - 0.40 %), debit cards, credit cards, time deposit accounts (0.35 - 0.90 %), consumer loans (5.45 - 17.25 %).

Account Opening

Account Opening Procedure
completely online

Opening an account with Ferratum Bank plc can be done by performing the following steps: completely online.

Required Documents
passport or ID card
proof of address
application form

Ferratum Bank plc requires the following documents to open a personal bank account: passport or ID card; proof of address; application form.

While opening a bank account Ferratum Bank plc has to perform KYC procedure and comply with AML requirements. KYC procedure usually includes obtaining the information about customer identity, residential address, current occupation and source of income. KYC checks performed by Ferratum Bank plc and the documents used are outlined below.

Identity Verification
passport
ID card
any one of the documents above
Address Confirmation
proof of address
any one of the documents above
Current Occupation
Income Source
Forms
application form
all the forms from above

Ferratum Bank plc may require additional documentation or information depending on the case.

Ways to Bank

Business Channels
mobile app mobile app

Products and services offered by Ferratum Bank plc are not available at the bank's branches. Ferratum Bank plc instead uses direct channels to deliver its solutions to customers, namely via mobile application.

Products

Current Accounts

Current accounts are non-interest bearing deposit accounts that are used to perform day-to-day banking transactions. Current accounts are often offered with a payment card (a debit card and/or a credit card) and may also include overdraft possibility. Annual costs of having a current account (also known as account management fees) can depend on monthly income input to the account or amount of money deposited into the account.

The following current accounts are offered by Ferratum Bank plc.

Updated on 6 August 2020

Cuenta Ferratum Bank
Sales Region
ESSpain
Overdraft Rate (p.a.)
none
Interest Rate (p.a.)
0.80 %
Annual Costs
0.00 EUR
Current Account Details
Product Name
Cuenta Ferratum Bank
Account Currency
EUR
Annual Costs
0.00 EUR
Interest Rate (p.a.)
0.80 %
Overdraft Rate (p.a.)
none
Debit Card
Debit Card Costs (p.a.)
0.00 EUR
Visa Credit Card
MasterCard Credit Card
Telephone Banking
Branch Banking
Online Banking
Current Account Features

No annual fees

Free debit card

Account be can accessed via online banking, phone

Available to Spanish residents

ESSpain: This product is offered to Spanish residents only. When clicking on the product link you will be redirected to the product page in Spanish.

Savings Accounts

Savings accounts are interest-bearing deposits accounts which allow to withdraw money at any time. While providing more flexibility, savings accounts usually offer lower interest rates and shorter deposit terms than time deposit accounts.

Ferratum Bank plc offers the following savings accounts.

Updated on 6 August 2020

Tagesgeld - Check24
Sales Region
DEGermany
Account Currency
EUR
Interest Rate (p.a.)
0.40 %
Deposit Term
1 - 12 months
Savings Account Details
Product Name
Tagesgeld - Check24
Account Currency
EUR
Min. Interest Rate (p.a.)
0.40 %
Max. Interest Rate (p.a.)
0.40 %
Min. Deposit Term
1 month
Max. Deposit Term
12 months
Min. Investment Amount
1 EUR
Max. Investment Amount
100,000 EUR
Interest Frequency
1 times a year

DEGermany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Deposit Guarantee. Savings accounts made with Ferratum Bank plc are covered by deposit guarantee scheme of Malta up to 100,000 EUR per depositor.
Withholding Tax. Interest income gained on savings accounts by non-residents of Malta is not taxed. Interest gained on savings accounts by residents of Malta is taxed at 15.00% rate. When the interest is paid, this tax is automatically withhold by Ferratum Bank plc from the savings account.

See Also

Time Deposit Accounts

Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).

Ferratum Bank plc offers the following time deposit accounts.

Updated on 6 August 2020

Festgeld - Check24
Sales Region
DEGermany
Account Currency
EUR
Interest Rate (p.a.)
0.35 - 0.90 %
Deposit Term
3 - 36 months
Time Deposit Account Details
Product Name
Festgeld - Check24
Account Currency
EUR
Min. Interest Rate (p.a.)
0.35 %
Max. Interest Rate (p.a.)
0.90 %
Min. Deposit Term
3 months
Max. Deposit Term
36 months

DEGermany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Deposit Guarantee. Time deposit accounts made with Ferratum Bank plc are covered by deposit guarantee scheme of Malta up to 100,000 EUR per depositor.
Withholding Tax. Interest income gained on time deposit accounts by non-residents of Malta is not taxed. Interest gained on time deposit accounts by residents of Malta is taxed at 15.00% rate. When the interest is paid, this tax is automatically withhold by Ferratum Bank plc from the time deposit account.

See Also

Credit Cards

Credit cards provide a convenient option to borrow funds for short-term financing, for examples purchasing of goods and services. Credit cards differ by credit card provider (Visa, American Express, MasterCard), credit card type (silver, gold, platinum), charged interest and annual costs. The following credit cards are offered by Ferratum Bank plc.

Updated on 6 August 2020

Tarjeta Mastercard Ferratum Bank
Sales Region
ESSpain
Card Currency
EUR
Card Provider
MasterCard
Card Type
Standard
Annual Costs
0.00 EUR
Credit Card Details
Product Name
Tarjeta Mastercard Ferratum Bank
Card Provider
MasterCard
Card Type
Standard
Annual Costs
0.00 EUR
Card Currency
EUR
Transaction Cost (EUR)
0.00 %
Transaction Cost (non-EUR)
0.00 %
Current Account Necessary
Bonus Program

ESSpain: This product is offered to Spanish residents only. When clicking on the product link you will be redirected to the product page in Spanish.

Consumer Loans

Consumer loans are secured or unsecured (i.e., backed or non-backed by a collateral) loans provided to retail customers for personal, family, or household purposes or for purchase of goods and services. In terms of repayment, consumer loans can be revolving (when a credit limit can be spent, repaid and spent again) or installment (such a loan is repaid in equal installments until the loan is paid off at the end of its term). Consumer loans offered by Ferratum Bank plc are shown in the table below.

Updated on 6 August 2020

Ratenkredit
Sales Region
DEGermany
Effective Rate (p.a.)
5.45 - 17.25 %
Loan Amount
3,000 - 20,000 EUR
Loan Term
12 - 84 months
Consumer Loan Details
Loan Currency
EUR
Min. Loan Term
12 months
Max. Loan Term
84 months
Min. Loan Amount
3,000 EUR
Max. Loan Amount
20,000 EUR
Min. Effective Rate (p.a.)
5.45 %
Max. Effective Rate (p.a.)
17.25 %

DEGermany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.

See Also

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