AS Magnetiq Bank products, services and reviews

About AS Magnetiq Bank

AS Magnetiq Bank positions itself as a digital-first provider with an emphasis on app-based accounts and payments. Product availability typically covers everyday banking—current accounts, transfers, and debit cards—with any savings, term deposits, or lending dependent on jurisdiction and eligibility. Prospective customers should confirm whether AS Magnetiq Bank operates under its own banking license or via a licensed partner and whether deposits are protected by a statutory deposit insurance scheme; coverage limits and eligibility vary by country and account type. The published fee schedule merits attention, including monthly plan charges, international transfer costs, FX conversion markups, ATM withdrawal limits, and card-related fees; rates and promotional terms change and may be tiered. The mobile and web platforms should be assessed for two-factor authentication, biometric login, granular card controls, real-time notifications, and data export; review outage history and incident reporting where available. Onboarding and ongoing compliance checks can trigger document requests or temporary holds, particularly for higher-risk activity or unusual payment patterns. Business users should evaluate user permissions, approval workflows, accounting integrations, and support for local payment rails; individuals should check supported wallets, travel usage, weekend FX policies, and cash withdrawal access. Customer service coverage, escalation paths, and response times are central, as are the bank’s complaints policy and any access to an external ombudsman. Transparency around ownership, financial statements, capital adequacy, and audit arrangements informs resilience; limited disclosures increase counterparty risk. AS Magnetiq Bank may suit users comfortable with app-led servicing for routine payments and card spend, while those needing branch services, complex lending, or specialized treasury functions should confirm availability before making it a primary bank. Features, eligibility, and protections are jurisdiction-specific; verify the latest terms and regulatory status on AS Magnetiq Bank’s official materials before opening an account.