What you need to know about the IBAN account, which you can use to manage your money and spending in over 200 countries worldwide.
If you like the idea of a Mastercard that lets you make fee-free payments within the Single Euro Payments Area (SEPA), VIALET could be a great option to consider. In addition to a free IBAN account, it won’t cost you a cent to start using your account as there’s no cost for your first card.
Read on to find out the key points of VIALET works, including the card’s benefits along with some of the fees to be aware of.
How does the VIALET current account work?
VIALET is a free IBAN account that you can apply for and manage using your smartphone. The main advantage of VIALET is the ability to transfer money with no fees. You can enjoy free money transfers abroad plus free SEPA payments. While the account is free, you will need to pay an ongoing fee of €1.40 to use the card.
- Fee-free Euro spending. There’s no charge for making payments within the Single European Payments Area (SEPA). It’s also free to send and receive funds with other VIALET accounts.
- Spending notifications. Get a push notification on your phone every time you spend, receive or send money.
- Contactless payments. Simply swipe your card to pay at any location that accepts Mastercard globally. Or use your PIN.
- Security features. VIALET offers a 3D secure system to protect your online purchases. Plus, you can block your card instantly if you’ve lost it and this can be done via the app.
- Adding funds. It’s easy to top up via a card or bank transfer.
Fees and rates
VIALET has a few fees to consider, including:
- Monthly fee of €0 for the current account
- If you want a card with your account, you’ll need to pay a €1.4 monthly card maintenance
- €0 to top up your account
- ATM withdrawal fee of 2%
- €4.95 card replacement fee
The VIALET current account is a convenient, no-frills account that can be useful for those that need to transfer money throughout Europe. You can avoid largely avoid fees if you’re only using the account to transfer money to others. However, you will have to pay a fee to use the card. If you need a card with your account you may want to compare it to other free digital bank accounts available on the market as you might be able to find one with more features.
How to sign up
VIALET makes it easy to sign up for a current account. Once you’re ready, simply click “Go to Site” above and you’ll be taken to the VIALET website to complete the signup process. Start by downloading the free VIALET app. After you complete the verification process, you can order your contactless Mastercard.