Klarna Launches High-Yield Savings Account, Turning Everyday Spend Into Everyday Savings

Klarna, the global digital bank and flexible payments provider, announced the launch of Klarna Savings accounts in the U.S. – FDIC-insured accounts with no minimum deposit, no monthly fees, direct deposit, and interest rates above 3% APY¹, available directly in the Klarna app and provided and held by WebBank, member FDIC.

Read More on Fintech : Global Fintech Interview with Rob Young, Managing Director – UK at InDebted

Klarna already sits at the center of everyday spending for tens of millions of Americans, with a proven track record. Savings is a natural next step, and one Klarna has already taken in Europe, where consumers have entrusted the company with over $12.3 billion in deposits across eleven markets. Now, Americans can access that same expertise through an FDIC-insured savings account.

Klarna Savings accounts let those same consumers put idle money to work in the same app, automatically, without switching platforms. Accounts can be opened in minutes, and built-in tools like round-ups, scheduled transfers, and savings goals make it easy to grow money in the background.

“The average American earns less than half a percent on their savings, not because better options don’t exist, but because their bank hasn’t had to compete,” said Sebastian Siemiatkowski, co-founder and CEO at Klarna. “Klarna is already where millions of Americans manage their everyday spending. Now it’s where they save too.”

Together with Klarna balance and the Klarna Card, Klarna Savings accounts create one place to manage the full picture of everyday financial life.

Catch more Fintech Insights : The AI Shift in Fraud: Why Banks Need a New Playbook

[To share your insights with us, please write to psen@itechseries.com ]

The post Klarna Launches High-Yield Savings Account, Turning Everyday Spend Into Everyday Savings appeared first on GlobalFinTechSeries.