Telefonica Launches Germany's First Mobile-only Banking Service, 'O2 Banking'

Telefónica Germany which operates the O2 brand has launched a fully mobile banking offering, 'O2 Banking' app in partnership with Fidor Bank. O2 Banking, the first mobile-only bank account by a mobile provider in the country will enable a range of standard banking services such as opening an account, standing order, account balance checking, checking bank transfer or credit card payment using smartphones. Aproved customers will be able to obtain instant loans and free Debit MasterCard. 

Registration and authentication are affected quickly and easily via a video call on the customer’s smartphone. 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. 

Depending on their usage of O2 Banking, O2 customers will receive an additional data volume of 500 megabytes (MB) per month - and temporarily even up to 1 gigabyte (GB). In addition, early birds will be given a one-off bonus of 1 GB for opening an account as well as for their first transaction with their free Debit MasterCard.

The O2 Banking app is available as of now from Google Play and in the Apple App Store.

Markus Haas, COO at Telefónica Deutschland
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.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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