Western Union launches Digital Banking in Italy, 6% interest rate for Premium accounts

Italian consumers and professionals will be able to access and manage their financial needs through a single app

Western Union today announces the Italian launch of Western Union Digital Banking, its new integrated app for digital banking and international money transfer. As an introductory offer, the company offers an initial interest rate of 6% to Premium account holders. Further offers and benefits for customers will be presented in the coming weeks. Through the Western Union Digital Banking app, Italian consumers and professionals, reads a note, will be able to access and manage their financial needs through a single app that will allow them to: Create a multi-currency digital bank account; Send and receive money internationally, instantly and commission-free with other digital bank account holders; Spend your money, using a linked debit card issued in partnership with Visa; Take advantage of a competitive interest rate offer of up to 6% on deposit accounts up to €10,000 for premium account holders and 2% for standard accounts.

In Italy, Germany, Poland and Romania, over 150,000 consumers already manage their financial needs through the Western Union digital banking app. What sets the app apart from the usual digital wallet services is the way customers can benefit from Western Union’s omni-channel experience when sending or receiving money. For example, they can send money, in multiple currencies, to family and loved ones around the world via the app and have the funds paid in cash at one of thousands of outlets around the world or directly credited to a card or a bank account, often in near real time. Likewise, they can receive money sent through Western Union’s retail outlets or digital platforms.

“We are proud that Italy is one of the first markets where we launch our digital banking app,” comments Roberto Romano, Country Director, Digital Banking Western Union. “This is a truly new digital banking proposition that will change the way our customers manage their financial needs and connect to the world.”

“Our customers in Italy know they can trust Western Union to send money, quickly, to almost any corner of the world. Based on this trusted relationship, we believe our digital banking app can add real value to life of our customers”, adds Gabriel Sorbo, Regional Vice President, Western Union in Italy and Southern Europe.

Western Union’s new digital banking platform will be available in additional European and global markets throughout the year. The app is now available on Google Store Italia and App Store Italia. The app is supported by Western Union International Bank, located in Vienna, Austria. All balances are guaranteed by the Austrian Deposit Guarantee Schemes (Einlagensicherung) up to €100,000 (or equivalent in other currencies) per depositor.