Fidor Bank is a German a virtual bank that offers personal IBAN and business IBAN accounts, free SEPA transfers, crypto banking, virtual cards, crypto settlement accounts for cryptocurrency businesses, etc. Fidor bank account opening is free.
Fidor Bank is suspending its services
In 2016 BPCE took over Fidor Bank. In 2019 it suspended its services in the UK. And in 2023 it has declared, it will suspend all banking services alltogether later this year. The solvency of Fidor Bank AG continues to be ensured. The discontinuation of the banking business is for strategic reasons with the support of our owner Groupe BPCE.
What is special about Fidor bank?
- European IBAN Accounts. You can open both individual account and business account. Account opening is free.
- Investment. You can invest in Fidor Saving Bonds and Fidor Capital Bonds and trade in forex.
- Fidor loans and overdraft. Instant loans up to €50,000 and up to €3,000 speed overdraft facility.
- Cryptocurrency. Buy and sell cryptocurrencies using Bitcoin.de and Kraken and manage crypto assets in Fidor dashboard in real time. Cryptocurrency businesses can also open cryptocurrency settlement accounts.
- Bonus. Monthly €5 activity bonus from the 11th transaction.
- Account switching. Free service to switch your personal or business account from your old bank to Fidor in minutes.
Fidor was founded in Germany by Matthias Kröner, Dr. Michael Maier, Steffen Seeger and Martin Kölsch in 2009. It has its headquarters located in Munich. The bank has received an award for being the most transparent bank and one with innovative means through through the use of social media. For example, The bank has over 310 thousand memes in Germany alone. The World Economic Forum awarded the bank an award, Global Growth Company.
Fidor Website / Fidor App
Fidor Bank has a responsive banking app and website for your banking needs. You can use Fidor bank app to integrate your Fidor Pay with your Fidor MasterCard. This makes it possible to make contactless payments using Android or iOS. The app uses innovative and secure technology to ensure that your money is safe. You can make transactions without an internet connection.
Fidor’s Products and Services
Fidor Bank has a slogan, “Banking with Friends,” due to the critical role their customers play. The bank serves both retail customers and business customers. The services it offers include:
- Fidor smart current accounts. Account with Fidor IBAN that supports SEPA transfers, Fidor Mastercard, and mobile payments via Fidor Pay and Apple Pay. You can also use your Fidor current account for salary payments, transfers and standing orders.
- Fidor bank business account. Virtual corporate account with IBAN and crypto support that comes with Fidor business debit Mastercard.
- Fidor Saving Bonds and Fidor Capital Bonds. Invest your money long-term and have the interest paid out monthly via Fidor savings plans. You can invest from as little as € 100 per month up to € 100,000.
- Fidor loans. Up to €50,000 loan approved in less than 10 minutes with low-interest rates from 0.68% p.a. and flexible terms up to 120 months. If you are not yet a customer, you’ll automatically receive a free Fidor Smart current account once your loan is approved.
- Fidor cash withdrawal. You can withdraw money using Fidor Cash from over 12,000 retailers.
- Fidor bank cards. Your account comes with Fidor virtual card and Fidor physical debit cards to its customers (Mastercard).
- Receive card payments. In partnership with SumUp, a UK mobile payment company, Fidor enables businesses to accept all common EC and credit cards with no fixed monthly charges or contract terms.
- Crypto banking. Fidor support cryptocurrency banking using the Fidor’s crypto dashboard and also manage accounts in real-time. You can buy and sell cryptocurrencies via Bitcoin.de and Kraken express trading.
- Bank accounts for cryptocurrency businesses. Cryptocurrency businesses can also open cryptocurrency settlement accounts with Fidor bank. This allows such businesses to focus on their customers and innovation. The crypto account is ideal for cryptocurrency exchanges, cryptocurrency traders, etc.
- Fidor’s banking as a service. If you are not a bank but want to act like one, Fidor provides you with a white-label bank solution covering technology, compliance, risk management, market strategy and customer service. You take care of your own brand and choose the key products of your choice, Fidor will customise, deploy and run your bank.
- Forex trading. Invest in currencies with minimum amount of € 100. Supported currencies are USD, JPY, CHF, AUD, NOK, CAD, GBP, NZD, PLN and TRY.
Currently, Fidor does not offer joint bank accounts. Virtual banks offering joint bank account in Europe include N26, Revolut, Bunq, Monese and Monzo.
Buy Cryptocurrency with Fidor Bank
As a Fidor bank account holder, you are able to buy and sell cryptocurrencies using Bitcoin.de or Kraken.
Through its partnership with Kraken, a US crypto exchange, you can integrate your Kraken account in the Fidor Cash Manager under ‘Cryptocurrencies’. As a result, you will always have your crypto portfolio in view and you can therefore buy or sell cryptocurrencies conveniently. The integration of the Kraken account in the Fidor Cash Manager does not incur any extra costs for you. However, Kraken may charge fees for selling and buying cryptocurrencies.
With Bitcoin.de, if you have an active current account, you can use “express trading” to buy or sell cryptocurrencies and complete the transaction in a few minutes. This is because the money used for the purchase remains in your current account until the final purchase and does not have to be transferred to an interim account in advance. On Bitcoin.de, you buy cryptocurrencies directly from the seller and transfer the amount directly to them. Bitcoin.de only acts as a marketplace and intermediary between you and the seller.
Fidor Bank Fees
|Account opening||0 EUR|
|Account management||5 EUR/month (If you conduct more than 10 transactions per month, your Fidor Smart Current Account will receive our Activity Bonus of 5 EUR per month)|
|Cash withdrawal||0 EUR|
|ATM withdrawal||3 EUR per withdrawal|
|Currency conversion||5000 EUR = 1,5%|
|Card fee||Fidor Debit MasterCard = 1 EUR/month, Fidor SmartCard = 2 EUR/month, Fidor virtual card = 0 EUR|
|SEPA transfers||0 EUR|
|Forex trading||1.5 %|
|Crypto trading fees||0 – 0.26%|
|SMS notification||0.10 EUR per SMS|
|Email notification||0 EUR|
|Reset of card PIN after entering it wrong three times||8.50 EUR|
Fidor Bank Supported Countries
Currently, the bank is serving residents of the European Economic Ares including Switzerland.
Is Fidor Bank Safe?
Fidor bank is legit and safe. Up to €100,000 of your money is safeguarded by Germany’s Deposit Guarantee Scheme. Fidor app allows you to receive transaction notifications in real-time and using Geo-Blocking and manage the countries where you want your card to be valid.
Fidor Bank Customer Support
In case you need help, you can contact Fidor bank through an email or phone call. You can contact them through their hotline number +49 89 189085 454, while their email is firstname.lastname@example.org. Their business hours are from 10 am to 2 pm from Monday to Friday.
Fidor Supported Language
Fidor Bank has a chatbot that uses conversational AI that can understand the natural language.
Fidor Bank UK: After the UK decided to leave the EU, Fidor Bank decided to withdraw its product and service offerings in the UK on the 15th of September 2019.
Fidor Customer Online Reviews
Fidor Bank account has a poor customer user rating experience of 1.8 out of 5 stars on TrustPilot from over 2,000 people (September 2021). This is a poor rating with many customers complaining of the bank’s slow response to their emails by the customer support and abrupt closure of their account. 43% of the customer reviews show that the bank has excellent services, while 44% rated their experience using the bank as “bad.” Also, the verification process is tedious, even to customers with all the necessary documents.
Other banks that offer similar products such as crypto banking and crypto trading are the following.
- Revolut (crypto trading)
- Xapo (crypto banking)
- Mistertango (crypto banking)
- Dukascopy (supports crypto trading and crypto settlement accounts for cryptocurrency businesses)