Yoigo, operator of the MásMóvil Group, has been diversifying its service offer beyond telecommunications for some time. We have seen the purple operator offer alarms, cybersecurity services and even energy trading, but one of its pillars of these alternative businesses is MoneyGo.
Yoigo’s financial company already offered personal loan or debit and credit card services without commissions and that return money, but now it is launching headlong into remunerated accounts to the point of positioning itself as one of the most profitable offers in the sector.
MoneyGo current account conditions
Yoigo has announced the launch of a new service within its MoneyGo financial brand: a new bank account that has a savings remuneration of 5% APR for the first 5,000 euros contributed by customers.
The purple operator now offers through its financial checking account without commissions, a free debit card and a remunerated savings account. No need to change bank or payroll direct debit.
In conjunction with Banco Cetelem, with whom they offer this service, following the conditions of the checking account, it offers Yoigo clients a remuneration of 5% APR (which would mean 244.56 euros per year) for the first 5,000 euros and 1% APR without limit of amount. Of course, the requirement to access these very advantageous conditions is to have a Yoigo receipt domiciled in the linked checking account.
Such conditions are some of the most favorable in the financial market, where only Bankinter comes close by offering this remuneration interest for the first 5,000 euros. The difference with the orange bank is that it is a current account (not a savings account) that is only available to new customers and applies these conditions only during the first year, after which it drops to 2% only for the first 5,000 euros.
Regarding the conditions for clients without a receipt from the domiciled operator, the remuneration of the Savings Account will become 0.50% TIN, 0.50% TAE. With these conditions without direct debit, with an average balance of 15,000 euros constant for 1 year at 0.50% TIN, 0.50% APR, at the end of the one-year period, the client will have received only a remuneration of 75 euros.
The current account has no expenses and commissions and allows the usual banking operations of direct debit of receipts, management of payments and transfers, even immediate, although these have a cost of 1 euro.
debit card included
As we said, signing up for a MoneyGo bank account also means getting a completely free debit card, designed to pay with your physical card, or from your mobile.
As for cash withdrawals, only two per month are included free of charge at any national ATM. As of the third cash withdrawal, the customer will be charged the total cost that Banco Cetelem passes on to the owner of the ATM for each cash withdrawal.