The digital bank ONE ZERO Still does not allow anyone who wants to join it to open a bank account right now, but posted for the first time for pre-registered subscribers a first look at his app. In addition, the bank has revealed its business model, at least when it comes to the fees it will charge customers. The bank founded by Amnon Shashua promises a global fee model that will include all banking operations, but did not disclose what the total rate will be that will be charged from its customers and it will only be published near the launch to the public.
“No more price changes every month, with payment for each transaction and commission per line. At ONE ZERO customers will pay a fixed, transparent and fair monthly price that will create an identity of interests between our CFOs and customers, without earning more as the customer performs more operations,” they noted. At the bank.
Globes has learned that the bank intends to build several packages of subscription fees at different rates so that the customer can choose the one that suits him, depending on the types of banking transactions he performs. For example, a customer who does not perform securities transactions will be able to choose a more limited package and thus reduce the subscription fee for himself.
According to ONE ZERO, the monthly subscription fees include personal finance managers and are also exempt from most of the fees that are regularly charged at the bank, far beyond the exemption from current fees and debit card fees. Bank guarantee, exemption from credit allocation fee, exemption from loan handling fee and a number of other fees whose costs amount to thousands of shekels per year.
On Tuesday, ONE ZERO sent to its waiting list, numbering over ONE ZERO over 75,000 people, a first look at the bank app. The application is designed to enable a continuous interface between the bank and the customer and through it the bank will offer tools and tips on how to save and manage money on a regular basis.
The bank explained this with a few examples, such as checking the customer’s desired savings targets against its predicted monthly cash flow, identifying based on historical conduct patterns that the customer is expected to enter a temporary minus in the account when a few days later, when the salary comes in. Minus, a scan of credit card activity that will indicate an increase in a fixed monthly payment as a result of the termination of a benefit and more.