Klarna launches bank accounts in Germany – TechCrunch

Fintech startup Curl up Germany is changing its mobile app to a banking app. Customers residing there can now open a consumer bank account and get a Visa debit card.

Right now, Karlna is launching bank accounts for a limited number of users. The company hopes that it will be implemented more widely in the coming months.

What you get is a full bank account with a German IBAN that sets up direct deposit and debit, to receive money. Debit card works with Google Pay and Apple Pay. You get two free ATM withdrawals per month.

With today’s launch, Karlna wants to create a financial super app. Karlna started as a payment method for e-commerce websites. It pays you for expensive items in several installments. Merchants get paid when initial transactions occur, with Karlna transparently managing credit lines for customers.

With the company’s mobile app, you can track your last purchase and your upcoming payments. The app also allows you to access the stores’ marketplaces, track deliveries and set price-drop notifications.

But you could not get a complete overview of your finances with this data. Adding a bank account gives you complete visibility into everything that comes in your bank account and leaves your bank account.

This may open up some new opportunities for credit lines. For example, if you pay at the store for something really expensive with your Klarna card, you can get a notification that suggests spreading your spending over three months.

Karlna also plans to add savings goals and savings accounts. The startup has already started savings accounts in Sweden. It provides flexible and fixed-term savings accounts.

Karlna has built its core banking system, which means that it does not depend on the banking-as-a-service partner to manage your bank account. It will compete with other digital banks in Germany, such as N26 And Vivid wealth.