Glint is a fintech app taking an interesting new approach to current accounts and finance. At its core, Glint works like many other challenger banks, providing a system for customers to spend their money from the convenient platform of their smartphone. However, Glint differs in one crucial area: rather than using the traditional currency, Glint is attempting to bring back gold.
Read on to find out more about Glint and whether it might be an option for you.
Glint felt that “it was unfair that money is prone to depreciate in ways we have no control over”, and sees the solution in gold. According to Glint, gold is a trustworthy form of money – an independent and more stable currency that gives some control back to the consumer.
With a Glint account, your transactions are backed by gold, and, because it isn’t exclusive to one country, you can make them anywhere.
Like most other challenger banks and fintech companies, Glint works almost entirely from your smartphone, with the exception of the physical card that they will send after registering.
Getting started is simple. You register by entering your name and address, and the process of receiving your card and completing your registration is just as streamlined. Once in the app, it’s easy to find your way around the home page.
Only the essentials are featured on the app. These include:
Glint is a great travel tool. Not only can it be used anywhere via the app, but because gold’s value is recognised in many different countries you don’t have to struggle with exchanging currency. Additionally, because Glint uses Mastercard, your Glint card is accepted in over 30 million locations worldwide.
Opening a Glint account costs nothing, but Glint does come with a handful of fees and limits. These include:
Glint is regulated by the Financial Conduct Authority, meaning your money is always safe even in unforeseen circumstances. Your money and sensitive details are kept behind a password, and registration requires proper authentication before you are approved. You can only activate your card once it’s reached you, so if it’s stolen before it’s arrived it’s completely useless.
While Glint doesn’t work as a replacement for traditional banking services, it does make a great companion to them. The work that has gone into creating such a complex app definitely shows, and hopefully it will be available to everyone at some point in the future.
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