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Original bank good? See how the digital card and bank works | Productivity

Banco Original is a fully digital institution, with all operations performed through the Android and iPhone (iOS) application. In the app, it is possible to open accounts, perform transfers, payments and other services with the proposal to avoid bureaucracy and many tariffs. The bank also offers credit and debit cards in different modalities to offer specific benefits to each customer.

Customer-provided data is stored in a secure environment and all banking processes follow Central Bank requirements. Want to know more about the services offered by fintech? Here's a list of questions and answers about how Banco Original's digital account works.

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Check out more information about the operation of Banco Original Foto: Divulgao / Banco OriginalCheck out more information about the operation of Banco Original Foto: Divulgao / Banco Original

Check out more information about the operation of Banco Original Foto: Divulgao / Banco Original

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What and how does the digital account work?

Banco Original does not have physical agencies. The company's customer has account access through the application, where it is possible to perform all bank transactions. With the digital account, the user makes transfers, payments, controls investments, requests and unlocks cards, consults the balance and bank statement and can even deposit checks by image.

The withdrawals of Original account holders can be made at ATMs of Banco24Horas network and those in Rio de Janeiro or So Paulo also have the option to perform the service in the Original Space, where it is possible to withdraw in dollars and euro in the exclusive boxes.

The differential of digital financial institutions is the low cost of operation charged to their customers. In the case of the Original, it is possible to pay a monthly fee of $ 12.90 and have unlimited services.

Original bank good? See how the digital card and bank works Photo: Divulgao / Banco OriginalOriginal bank good? See how the digital card and bank works Photo: Divulgao / Banco Original

Original bank good? See how the digital card and bank works Photo: Divulgao / Banco Original

To open an account with Banco Original you need to go to the "Be Original – Open Your Account" application or the company's website, and fill in the fields with some personal information. Full name, social security number, telephone number, property value, education level, address and nationality are some of the requested data. To finalize the registration, I need to take a photo of an ID, make a selfie and record a small video to prove that you are opening the account.

Remember that the opening of the current account and the hiring of the credit card go through an analysis before the registration is approved. If successful, the user must download the "Original Bank" application to perform account movements.

Meet the Original Bank: Fees, Annuities and More Features Photo: Original Bank / DisclosureMeet the Original Bank: Fees, Annuities and More Features Photo: Original Bank / Disclosure

Meet the Original Bank: Fees, Annuities and More Features Photo: Original Bank / Disclosure

What is the difference for Nubank and other digital banks?

One of Original's differentials with rivals Neon and Nubank is in the administration fees. The customer can choose to pay for the services individually or if they opt for a monthly fee of $ 12.90, in the Original Unlimited package. After one year of account, the value may increase.

Some services available to customers of other digital banks are free, but others are paid. At Neon, for example, a fee of $ 3.50 is charged per transfer to other banks from the second such transaction. Already at Nubank, transfers are free. Regarding the withdrawal, the "purple" withdrawal costs $ 6.50, and the Neon withdrawal costs $ 6.90.

While Nubank's legal entity account is in the testing period, Original's already has segment-specific options, with low one-time transfer fees, payments to suppliers and withdrawals, or a fixed monthly fee entitling you to these unlimited services. The company even offers free machine. Although it has some advantages, the value of the basic PJ account is $ 39 a month, and the credit card has annuity, unlike Neon Pejota, which does not charge monthly or annual fees.

Original bank good? See how the digital card and bank works Photo: Divulgao / Banco OriginalOriginal bank good? See how the digital card and bank works Photo: Divulgao / Banco Original

Original bank good? See how the digital card and bank works Photo: Divulgao / Banco Original

Although one of the advantages of many digital financial institutions is the absence of annuity, Banco Original can charge its customers after four months of use on some cards.

The Original Bank offers a non-annual card, the International, but the Original Platinum and Black are options where the fee is charged. The Gold card, for example, has an annuity of $ 29 per month after four months of use.

The institution features some free services for individuals account. The Original Account Holder is entitled to four current account withdrawals, two transfers and two supplies of month statements. After exceeding these resources, an individual amount charged per movement: $ 1.90 for withdrawals and $ 1.80 for statements. The fee for transfers between own bank accounts is $ 0.70, and for other institutions is $ 8.90. The customer has the option to hire these unlimited services for $ 12.90.

Interest on credit card arrears is 2% of the total amount due plus 1% over the month and the IOF (Financial Operations Tax). The interest rate on the installment credit card at Banco Original, on average, is 8.64% per month.

Banco Original has a points program called "Original Cashback – Your Cash Back", available in the credit and debit functions of the checking account card. In it, part of the purchases made by the customer goes back to the account holder.

Each card of the institution has a different percentage for the point count. In the case of Original International, the conversion value is up to 0.30% in ms. Already in the options Original Gold, Platinum and Black, the factor increases. Who spends about $ 5,000 per month comes to redeem almost $ 200 per year. On the company's website, you can simulate the values ??to convert to points.

Original cards are from the Mastercard banner, and some benefit programs are branded. Each credit and debit card has a specific plan.

The Original International has the Surprise Mastercard. With Gold, the customer also receives Price Protection Insurance, Purchase Protection Insurance and Extended Warranty. At Platinum, there are Concierge, Travel Agency, Emergency Travel Medical Insurance, Schengen Charter, Masters Car Insurance and Cork Stopper benefits. Original Black has all these advantages.

What resources are available?

The company's application serves to make life easier for customers, so it has a simple and objective interface. In addition to performing basic functions such as viewing the balance, seeing the latest releases and making transfers and payments, you can clear checks by taking a photo and borrow money through the app. You can also access account information via a voice command: by saying the word "balance", the information is displayed on the screen. The client still has access to a financial manager who helps and schedules ms spending.

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