Mazel Tov: A new bank started its operations in Israel today (Tuesday). The ONE ZERO digital bank has completed the trial period and so far 12 thousand customers have joined it, 35% of whom are remitters of salary or NIS 5,000 per month. The new customers have current accounts and deposits in the cumulative amount of NIS 200 million. The new bank offers its customers a choice between three routes:
Route One: An all-inclusive subscription fee package costs NIS 49 per month. Each client will be assigned a personal money manager in this route. A smart technology system updates customers daily on any unusual event or recommendations and insights. The package will replace the tariff fees and create certainty and transparency (provided the use of the account is not commercial). Customers of this route will benefit from high interest rates on deposits and soon also from a continuous pension consulting service with monthly updates. From the beginning of 2023, they will also benefit from discounted commissions for trading in Israel.
Route One+: Combines route One with an all-inclusive trading package in securities without minimum commissions and buying and selling commissions for up to 15 operations per month – at a price of NIS 119 per month. In addition, the bank will not charge securities account management fees in the subscription fee channels. The One+ package will include a full financial package, including additional consulting packages that will be revealed gradually, similar to the “Family Office” service accessible to those with wealth.
Route Zero: Includes a full digital bank, service of professional bankers 24/6 with no current account fees, no card fees and no commissions. It is considered the cheapest banking route in Israel.
Customers who join the bank starting today will automatically be associated with route One. The account is opened completely digitally. At the end of the process, the customers choose a debit card and enjoy a checking account. Gal Bar Dea CEO: “In less than three years since we started, we offer a premium banking service through a personal money manager.”