I tried to signup for an account with Fidor Bank UK but I never got the confirmation e-mail!
Do you know if this is a good bank to work with?
Do you know if this is a good bank to work with?
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Anyone know Fidor Bank ?
- Thread starter clemens
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Fidor DE used to be pretty good and a real insured German bank. However i think they only allow account opening by German residents (although they are supposed to keep you as a client if you move away afterwards). No business activity on private accounts - they will close without warning. Same might happen if business activity is suspected by turnover, transfers etc. Otherwise solid. Also offer freelancer / sole proprietor accounts.
Have a Fidor.de account, do not live in DE. It works, however they are german language only and sometimes regret to have non-DE customers (you can only get a debit card, as for a credit card you need a SHUFA-rating). Solid bank, free -real- bank account.
This sounds strange, I read it on their website but what exactly does it mean that one can use Fidor's banking license! I don't get it
Sounds to me that fidor is a fintech that developed a banking platform they sell to new and existing banks. Plus they established their own bank.
No not yet. Fidor is an esthablised bank, one of the first 'digital only banks'. They were bought by BPCE ( a large French mutual banking group), but culture clashes between FR/DE & Digital/Bricks does not make the marriage a happy one. (Fidor splitting from France’s BPCE )
They have 1) a Greman licensed real bank, and 2) a software platform that they sell to other banks.
Hope they find a new home.
As Milky Moon said Fidor DE is not a shady EMI with shady owners etc pp. It is a real German licensed bank. Your money is about as safe there as it gets in European banks. Of course the marriage with the French did not work out and we will see what the future holds.
Myself i put about 200k through it. They closed me down with a i think 3 weeks notice on grounds of "commercial usage" after i moved out of Germany. One could have speculated on a few payments from known platforms that I used it for self employed purposes... Maybe they took a closer look once i moved to Malta. Officially you are allowed to be resident in another European state.
The platform etc was quite good, nothing to complain about. Mobile app was missing / lacking back then.
Myself i put about 200k through it. They closed me down with a i think 3 weeks notice on grounds of "commercial usage" after i moved out of Germany. One could have speculated on a few payments from known platforms that I used it for self employed purposes... Maybe they took a closer look once i moved to Malta. Officially you are allowed to be resident in another European state.
The platform etc was quite good, nothing to complain about. Mobile app was missing / lacking back then.
For those already clients with Fidor, can you please precise how is their pricing like ? regarding account maintenance fees, SEPA and SWIFT transfers, debit card. Thanks in advance
They don't have fees for account maintenance or fees for SEPA transfers. They don't support much countries for SWIFT transfers. They have debit card mastercard for 25EUR/year. That's all to say about them. Their targeted user base is entrepreneurs with bad credit score.
I know they looks interesting to many of you because they work with Kraken and accept Bitcoin business but they have really bad customer support and don't make any extra work. I only recommend this bank to residents in Germany and Austria with regional companies.
For example they needed 6 months to change one thing in the account details of a old account of me and guess what? During this time period my account was blocked.
100% jokers!
From what I have read in this thread and from what I have read in the Fidor terms and conditions, there is an issue around the private account used as a commercial account. It is written in german in their terms and conditions. They say that if you use your findor account for business they will terminate your account.
So, now, I wonder how they determine business activities. Is it because you have many transactions on a daily, weekly, monthly basis? is it because you receive money from companies rather than individuals???
It is vague. Also, I wonder if it is AOEI free because when you sign up they ask you if it is for a current main account. they don't speak about card.
So, now, I wonder how they determine business activities. Is it because you have many transactions on a daily, weekly, monthly basis? is it because you receive money from companies rather than individuals???
It is vague. Also, I wonder if it is AOEI free because when you sign up they ask you if it is for a current main account. they don't speak about card.
Commercial activity is intentionally vague so that they can enforce it when they see fit. If you use your account for business purposes, you violate the terms and conditions. If you don't, you should be fine.
Fidor Bank is a German bank so they are compliant with CRS/AEOI.
Fidor Bank is a German bank so they are compliant with CRS/AEOI.
I am sorry to ask you to confirm, but it is important to me. You confirm that Fidor bank is a real bank not just an EMI so that they report in compliance with CRS/AEOI?
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