- Introduction to Fidor Bank.
- Fidor Banking Products and Services.
- How it works.
- Fidor Bank Account Opening Requirements.
- Countries With Fidor Bank Account Services.
- How to Register or Open a UK Fidor Bank Account.
In this writeup, we first describe what Fidor Bank is and how you can take advantage of Fidor innovative and digital banking solutions. Next, we look at the different types of digital bank accounts that you can open with Fidor bank and their benefits. Finally, we provide you information about the registration process and minimum account opening requirements.
Fidor Bank is an online digital bank that allows customers to open accounts and participate in the decision making processes of the bank. With headquarter in Germany, Fidor also operates in the UK. Fidor Bank UK offers both retail and business banking services covering basic bank accounts and savings bonds. With a single Fidor bank account, you can access all the available banking products and service offerings.
Fidor Banking Products and Services
There are five main Fidor personal banking products and services. Fidor banking products include free Smart Current Account, Savings Bonds and Smart Community. Other service offerings are Crowdfunding and Investments. Let’s deep dive into the benefits of each Fidor banking product:
Fidor Smart Current Account
Smart Current Account by Fidor is an online bank account that allows customers to manage their finances online from anywhere. It is free to create this type of account and requires no credit checks to open. Fidor Smart Current Account allows you to transfer money securely, and conveniently. It has the most attractive interest rates in the market and comes with a UK debit Mastercard. The account allows you to make deposits and transfers online and offers low-cost SEPA fees.
With Smart Current account, you can transfer money from and to other Fidor Smart Current Accounts. You can also transfer funds from your Fidor Smart Current Account to any other bank account in the UK and Europe. It’s important to note that Fidor bank does not accept cash deposits and cheque transactions of any kind. This means that you’ll not be able to make cheque or cash deposits into your Fidor Smart Current Account.
Fidor Savings Bonds allow customers to invest their funds in short and long term government bonds. The instrument has a fixed term and offers a guaranteed fixed interest rate which is payable at maturity. It’s important to note that the interest is not compounded. Fidor Savings Bond is a secure and most flexible way to save. It offers customers the greatest rate of return. This is because you set the terms – the interest rate that you prefer. The tenure of Fidor Savings Bonds ranges from 3 months to a maximum of 3 years. There are no additional costs or fees. Both the invested capital and its accrued interest are repaid in full at maturity without any charges.
How Does Fidor Bank Work?
Fidor Bank is a secure online transaction platform that allows customers to create a Fidor Smart Current account easily. All you’ll need to do is to sign up. The registration process is very simple. You can complete the signup form at banking.fidorbank.uk/register. If you qualify to open Fidor Smart Current Account, you’ll receive an email from Fidor. Next, you’ll need to verify your identity via a video identification process. Once the verification is successful, you’ll receive a letter including a security code within seven business days from Fidor. Entering the security code online gives you the ability to use all the attractive features of the Account. It also gives you access to other banking products and services.
Fidor Bank Account Opening Requirements
In order to be able to open a Fidor Smart Current Account, you must be at least 18 years old and a UK resident. You must complete the Fidor online registration form and get verified. The verification process includes Identity and Address verification. So, you’ll require a color copy of your valid passport from an EEA country or from Switzerland. In some cases, a resident permit or visa may be required as well. Note that Fidor does not accept driver license for an account opening. For address verification, you can use a copy of your duly signed Bank Statement. A copy of Credit card statement or Utility bill not older than 3 months is also acceptable.
Countries With Fidor Bank Account Services
Fidor Bank offers citizens of the following countries a bank account:
- Czech Republic
- New Zealand
- Republic of Korea
- Slovak Republic
- South Africa
- United Kingdom
- United States Of America.
How to Register or Open a UK Fidor Bank Account
It is very easy to sign up or open a Fidor bank account. Below are the steps that you can use to open the Fidor Smart Current account:
- On the web browser of your device, type: banking.fidorbank.uk/register and hit the enter or send button. This will take you to the registration portal.
- Choose a Title.
- Enter your first name, middle name, and last name.
- Choose a Nickname. Your nickname will appear when you post or contribute to the community.
- Enter your email address and password.
- Re-enter your password again.
- Click on REGISTER to submit your application form.
You will receive an email from Fidor bank which describes the next steps to open your account. Next, you will begin your identity verification online with the video identification process. The video identification process is powered by IDNow. Complete the process by following the instructions therein.