Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Memo Bank details its offering for its business bank accounts

French startup Memo Bank has unveiled three different plans for its new customers. The company is building a business bank for small and medium companies that generate between €2 million and €50 million in annual turnover.

Earlier this year, Memo Bank obtained licenses from the French regulator (ACPR) and the European Central Bank to become a credit institution. It can provide all the services you’d expect from a business bank, from current accounts to credit lines.

On paper, Memo Bank’s current accounts look a lot like a software-as-a-service product. There are three different plans. For €49 per month, you get one user account and each additional account costs €10 per month. You get 20 transactions in and out per month, each additional transaction costs €0.40 per transaction.

For €149 per month, you can create as many user accounts as you want and you get 200 transactions per month. Once again, additional transactions cost €0.40 per transaction.

And if you handle a lot of transactions, you get unlimited transactions for €399 per month. The mid-tier plan also lets you access an authorized overdraft.

Interestingly, companies on the top two tiers will earn interests on their deposits — 0.15% up to €100,000 and 0.30% up to €200,000 for the top two plans respectively. Memo Bank isn’t mentioning checks or payment cards for now.

Image Credits: Memo Bank

The startup is also saying that its web platform should work better than your average banking site. The search feature works as expected, you can issue grouped transfers to pay your employees and you can set up an approval workflow for big transactions.

More importantly, Memo Bank is open for business to issue loans. Companies can apply to get a €20,000 to €200,000 loan and pay back over 1 to 7 years. With this product, the startup is competing with online lending platforms, such as October.

Memo Bank unveils its business bank, credit license and $22.5 million in new funding

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line
Post a Comment
Read more

ProtonMail logged IP address of French activist after order by Swiss authorities

ProtonMail , a hosted email service with a focus on end-to-end encrypted communications, has been facing criticism after a police report showed that French authorities managed to obtain the IP address of a French activist who was using the online service. The company has communicated widely about the incident, stating that it doesn’t log IP addresses by default and it only complies with local regulation — in that case Swiss law. While ProtonMail didn’t cooperate with French authorities, French police sent a request to Swiss police via Europol to force the company to obtain the IP address of one of its users. For the past year, a group of people have taken over a handful of commercial premises and apartments near Place Sainte Marthe in Paris. They want to fight against gentrification, real estate speculation, Airbnb and high-end restaurants. While it started as a local conflict, it quickly became a symbolic campaign. They attracted newspaper headlines when they started occupying prem
Post a Comment
Read more