Details of the emerging operations of ONE ZERO, the digital bank, continue to be revealed, although an official launch to the general public is not yet visible. The bank, which is in the ‘quiet launch’ process in which it attaches employees’ families and friends, is expected to charge a subscription fee of between NIS 50 and NIS 70 per month for the base package it offers, and the final price has not yet been determined.
The package will include current account management fees, credit card fees, currency conversion and withdrawal, bank transfers, issuance of checkbooks, credit allocation as well as the ‘Personal Finance Manager’ services.
In addition to the base package, the digital bank established by Amnon Shashua will also offer an extended package to customers who want to trade in securities. The package will be at least double the price of the basic package and will cost more than NIS 100 per month.
According to the stock exchange calculator, clients in securities pay an average of 0.25% of the portfolio as custody and maintenance fees, ie for a portfolio of about half a million shekels they will pay 100 shekels a month, not including buying or selling a single securities, when these costs range NIS 10 (minimum price per operation in some investment houses for operations in shares in Israel) and a few tens of dollars for operations in foreign securities.
In addition to exposing the fee models and rates that will be charged for them, the bank continues to look for ways to attract new customers. In order to find a way to make the world of digital currencies accessible to potential customers, ONE ZERO has opened negotiations with Bits of Gold, the largest company in Israel in the field of digital currencies.
According to the model emerging between the parties, the bank’s customers who use the bank credit card will be able to accumulate points through a type of digital wallet (Cashback) for the purchases, and for those purchases they will receive a digital currency deposited in Bits of Gold.
According to the Bits of Gold website, the company has more than 150,000 customers, including private investors, high-tech companies, financial companies, investment houses, funds and more.