Available now Mobile-only bank account in cooperation with Fidor Bank AG: Telefónica Deutschland launches O2 Banking

Read page
  • O2 Banking app now available as free download for Android and iOS
  • Up to 500 MB additional data volume each month for O2 customers
  • Full transparency through easy and lucid charging structure
  • Instant loans and free Debit MasterCard
  • Starter pack for early birds: 2 GB of additional data for O2 customers
The future of mobile banking starts today: The app for the first mobile-only bank account by a mobile provider is now available for download free of charge. O2 Banking offers transactions via mobile phone number, minor instant loans, extensive security features and more. Depending on their usage of O2 Banking, O2 customers receive an additional data volume of 500 megabytes (MB) per month – and temporarily even of up to 1 gigabyte (GB). In addition, early birds also receive a one-off bonus of 1 GB for opening an account as well as for their first transaction with their free Debit MasterCard®. Since the announcement of O2 Banking in mid-May, Telefónica Deutschland has been analysing comprehensive feedback from trial users and further improved the app for its current launch. Feedback from users will continue to be used to constantly improve the offering.

“O2 Banking is setting the standard for the mobile bank account of the future as well as the manner in which people manage their finances in the digital age,” says Markus Haas, COO at Telefónica Deutschland. “This is not only thanks to our concept of ‘Megabytes not meagre interest'. We also offer unique features, optimal usability as well as full transparency of services and fees. It is our claim as leading digital communication provider is to meet our customers with fairness and at eye-level. This way only are we able to ideally support them in their digital lifestyles.”

The O2 Banking app is available as of now from Google Play and in the Apple App Store. Registration and authentication are effected quickly and easily via video call on the customer’s smartphone. All steps are explained in detail with numerous screenshots in the app as well as on the O2 Banking website. The account will be activated immediately after authentication has been successful, and within a few days the new O2 Banking customer will receive their free MasterCard. As this is a Debit Card only, turnovers will be booked directly. Depending on their usage of the O2 Banking account and MasterCard, customers obtain a bronze, silver or gold status. This also implies an extra data volume of 100 MB, 300 MB or 500 MB per month for O2 customers. Until the end of the year the additional data bonus even amounts to 500 MB for the silver status and 1 GB for the gold status.

If customers use O2 Banking as their salary account, or if their monthly credit card turnover exceeds 500 Euros, they receive the gold status. This includes unlimited free usage of the MasterCard for cash withdrawals from ATMs, with no account fees charged. In order to reach the silver status, a card turnover of only 100 Euros per month is required. Again, this includes a free account and three free cash withdrawals from ATMs per month. For each additional withdrawal, fees as specified in the pricing list will be charged. Customers who book a turnover of less than 100 Euros on their MasterCard will receive the bronze status. This includes one free cash withdrawal per month. In addition, for the O2 Banking account in the bronze status a monthly fee of 99 Cents is charged. The current status is determined by the previous month. Within the first three months after registration, the account as well as every cash withdrawal is free of charge regardless of card turnovers. O2 Banking is available for everyone – whether O2 customers or other. O2 Banking is realized in cooperation with the Munich FIDOR Bank AG, a direct bank registered in Germany. Founded in 2009, the institution specializes in attractive financial services for “Millennials”. For its innovative power, the Fidor Bank AF has been distinguished as "Global Growth Company" by the World Economic Forum (WEF) and has recently been awarded Celent Model Bank of the year 2015. O2 Banking-Website