Ahead of UK-based challengers, Germany-based Fidor Bank has launched in the UK offering a current account and savings bonds.

With a reputation for innovative and disruptive solutions, utilising social media, crowdfunding, P2P lending and digital currency services to build its business, Fidor is available in the UK from today.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The flexible savings bonds product also includes a euro transfer service with a flat fee for international money transfers.

Fidor plans to flow this up with debit cards, corporate accounts and integration of third-party services over the next few months.

One of the innovative sides to Fidor is the importance put on its online community. Users are financially rewarded for giving and receiving knowledgeable financial advice. Reputation is gained through ‘karma’ which improves a customer’s rating and online credibility.

In addition, the interest rate on Fidor’s current account is dependent on how many likes the British arm has on Facebook. The maximum rate is 0.5% p.a. if the Facebook page reaches 10,000 Likes or over.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

CEO of Fidor Bank Matthias Kröner said: "We’re putting the community at the heart of Fidor. This personalised approach to banking gives every customer a voice in how our bank is run, as well as giving them unprecedented control – setting their own interest rates, or naming the current account card that the bank will use for example, are just some of the options we’ve explored."

Founded in 2009 in Munich, Fidor is already close to hitting 100,000 customers in the country.