French mobile payments company Lydia has partnered with compatriot FinTech Cashbee to add saving accounts to its platform.
Established in 2011, Lydia markets a mobile and digital current account that allows users to spend money abroad without any fees on payments on withdrawals and allows contactless payment anywhere using any mobile device.
The platform also enables users to manage all their bank accounts in one app as well as to set up shared accounts to spare expenses fairly.
Cashbee enables its users to open savings accounts through a mobile app. Once users have connected their bank account with Cashbee, they are able to transfer money back and forth between their bank account and savings account. Those who use the savings account are able to access an interest rate of 0.6% after a 2% introductory rate for the first few months.
Lydia offers similar terms, however, the company asks users to put at least €1,000 on a savings account when they open it – however, if users use Cashbee’s app, they only have to put in €10.
According to TechCrunch, Lydia has recently been adding new features such as a debit card, account aggregation, donations and money pots amongst others.
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