"The launch of our challenger bank, deVere Vault, is the latest move to provide expat clients a comprehensive, global service."
The service will enable users to withdraw money from any cash machine worldwide, spend money on the card wherever Mastercard is accepted, and send and receive money in most major currencies instantly with other deVere Vault account holders.
The commencement of deVere Vault has been facilitated by deVere receiving its own e-money banking licence and pushes the firm further into the banking sector. In the last two months, it has launched its own private bank and has received an investment banking licence.
Nigel Green, founder and CEO of deVere, commented: “The launch of our challenger bank, deVere Vault, is the latest move to provide expat clients a comprehensive, global service. Personal advice with digital solutions is what people need in today’s world.
“deVere Vault, a low-cost, app-only e-money service, has been driven by demand from internationally-mobile individuals, globally-focused firms and expats. They want to access, manage and use their money instantly and seamlessly wherever they are in the world.
"I believe the days of traditional banking are numbered. This is due to the speed with which banking information can be accessed and transactions made via app-only services. Such money apps are growing in popularity due to this high level of convenience, increased security, and as people become ever-more tech-savvy.
“And this is just the beginning. We’re confident that deVere Vault is set to revolutionise how people access, manage and use money across the world and positively disturb the wider banking sector. Banking as we have known it until now is finished. This is a low-cost, e-money app designed for today’s globalised world.”
