Advanzia Bank became a new type of banking institution in 2005. That was when it became a bank that did not have any branches for customers to use. It also differed from other banks because it only focused on two types of products. One was a credit card that did not charge the customer any fees, and the other was a money market account that offered the customer the highest interest rates. Two years later, the financial crisis began, but Advanzia Bank remained in good financial standing. It only took the bank two more years to realize a profit after the crisis began.

What Are the Perks?

Customers may obtain a MasterCard Gold without having to pay any fees for the privilege. These include the ability to rent a vehicle with significant discounts. They can even make purchases without being charged interest for seven weeks. In addition to that, customers can use their MasterCard Gold cards anywhere in the world without ever being charged foreign fees either.

How Is the Bank Transparent?

Advanzia Bank does not charge interest on your purchases if you do not leave a balance on your account. If you fail to pay the amount in full, the bank will only charge you at least 3% of the total. This amount will be at least 30 euros, and it will be due the 20th day of each month. However, payments will be interest-free for seven weeks.

You also have the option of choosing to make installment payments. The bank charges 1.73% interest for installment payments, and this interest accrues on the date that you make the purchase. If you go on vacation, your MasterCard Gold entitles you to travel insurance at no charge. To receive this perk, you need to pay at least 50% of your transportation costs with your MasterCard Gold card.

Are They Socially Responsible?

The bank uses its financial success to accept social responsibility for the sake of its customers. As a result, the bank is committed to protecting the environment, the health and safety of the community, corporate governance, and providing a positive impact on the community. Since they hire employees from all over the world, they are dedicated to maintaining a high level of diversity.

Yanni Hufnagel received the credit for the successes the bank is seeing in its business today.