SMART Bank conquers the market

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The new mobile bank, as Bank SMART likes to be called, has already permanently settled in the Polish banking market. It debuted on the market in mid-2014. Currently, the bank is systematically increasing its customer base and introducing new solutions.

Conquering the market
After the bank's launch, as always, it is necessary to acquire a sufficiently large customer base. SMART Bank offered higher interest rates on its savings account than its competitors. It effectively began to acquire new users. The key to success was also the complete lack of fees for a personal account, ATMs in Poland and around the world, and online transfers in the country. A debit card, like its competitors, can be issued automatically after opening an account. But its big advantage is the lack of monthly fees in the event of a complete lack of any transactions. Let us recall that even Meritum Bank and T-Mobile Banking Services have already introduced such a requirement. So, if we look at Nest Account, customer opinions on most discussion forums remain quite positive.bank-smart-smartphone

Customer acquisition
SMART Bank is still in the customer acquisition phase, so it cannot el salvador whatsapp database to introduce conditional fees for a payment card to a personal account too soon. The proposal to introduce fees for ATMs at the beginning of 2015 was met with quite a lot of opposition from customers. Internet forums were in an uproar after this decision was revealed and SMART Bank decided to leave the network of free ATMs until further notice.

Shortcomings in the offer
As with any relatively new bank on the market, we still see some gaps in the offer at Bank SMART. Initially, the bank only offered a personal account and a savings account, and there was no cash loan offer. Currently, the offer is much broader and also includes products for entrepreneurs. It is worth mentioning the account held in euro.
However, in my opinion, there are still a few missing functionalities that should have been introduced already. I mean the lack of a network of its own and third-party cash deposit machines. Here, Bank SMART could at least use Euronet devices, which currently has the largest independent network of machines in Poland. Another aspect is the lack of the possibility to change the PIN number in the transaction system, while this operation costs PLN 5 in BZ WBK ATMs.

Introduction of power of attorney
Since March of this year, the Smart Bank client has had the option of appointing a proxy for a personal account. The proxy may receive an additional debit card for the account. The power of attorney may be established for both a personal and a business account, maintained in Euro or PLN. In the case of entrepreneurs, SMART Bank offers the option of appointing two proxies, in the case of an account for a person not conducting business activity, a maximum of one.