Fidor Bank makes debit card move

Online-only challenger bank Fidor is launching a debit MasterCard for all of its UK current account holders.

The ‘Fidor TAP Debit MasterCard’ will allow customers to withdraw cash worldwide and use contactless payment for their purchases. Customers can also lock and unlock their payment card on request at any point during the day, and retrieve a forgotten PIN code through their online Fidor account.

Fidor, founded in Germany, opened its retail banking service in the UK in September 2015, with a current account, savings bonds service and a Euro money (SEPA) transfer option. Its model is based around an online community, where users are financially rewarded for giving and receiving knowledgeable financial advice, as well as evaluating and reviewing financial products and services they are interested in. Fidor added that it also invites members to help build the bank’s future services – with the naming of its TAP Debit MasterCard and card fee pricing being such examples.

Sophie Guibaud, VP of european expansion at Fidor Bank, explained: “The decision to introduce the Fidor TAP Debit MasterCard was driven by customer demand from our online community. We will continue to introduce new products and features that our customers want, as well as reward those who contribute to building Fidor, so we’re incredibly excited to be launching our first card.”

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