Klarna Bank products, services and reviews

Klarna bank credit rating

In april 2023 S&P Global assigned Klarna a credit rating of BBB-/A-3 with a stable outlook. 

Klarna bank geography of operations

Klarna works in the following european countries

• Sweden (Headquarters), 
• Norway, 
• Finland, 
• Denmark,
• Germany, 
• Austria, 
• Switzerland, 
• Netherlands, 
• Belgium, 
• Ireland, 
• France, 
• Spain, 
• Italy, 
• Poland, 
• Greece, 
• Czech Republic.

Klarna as well works in United Kingdom, the United States, Canada, Australia, and New Zealand.

Klarna bank customer reviews

Klarna bank customers rate Klarna bank services at 4.2 out of 5 at Trustpilot. Usually, Klarna bank customers highlight 

• Convenience of BNPL shopping enabling customers to buy more;
• Modern and intuitive app;
• Sometimes customers complain about their credit limits changes, their Klarna cards not working properly and complications in case of product return.

Klarna bank products

Buy Now, Pay Later Services

Klarna's flagship product is its BNPL service, which allows consumers to split their purchases from clothing to consumer electronics into multiple interest-free payments. This service is available through various retailers, both online and in-store, making it a convenient option for shoppers.

Klarna offers interest-free installment plans, typically over four payments, which is attractive to consumers looking to manage their cash flow without incurring additional costs.

Customers can choose from paying immediately, within 30 days, or through longer-term financing plans (with interest). 

Please note, If you miss a payment, Klarna charges late fees, which can accumulate and become burdensome. Late or missed payments can negatively impact a user’s credit score.

Klarna Card

Klarna Bank offers two primary types of cards: the Klarna Bank Card and the Klarna Card. Both cards provide unique features and cater to different needs of Klarna's customers. Here's a detailed look at each.

Open Klarna card

1. Klarna bank Card
   Type: Visa Debit Card
   Usage: Online and in-store payments
   Issuance: Automatically issued as a virtual card upon opening a Klarna bank account; optional physical card available for a one-off fee.

The Klarna Bank Card is directly linked to the customer's Klarna bank account, facilitating seamless management of finances through the Klarna app.

1. Klarna Card
   Type: Visa Card
   Usage: Online and in-store payments
   Issuance: Independent of a Klarna bank account; can be linked to any bank account.

Customers must apply for the Klarna Card separately from a Klarna bank account. It can be linked to any existing bank account, providing flexibility.

Klarna bank account

In recent years, Klarna has broadened its operations by venturing into more traditional banking services, including savings accounts. Although Klarna is actively expanding, its range of banking products remains more limited compared to those offered by traditional banks.

Open Klarna bank account
 

Klarna Bank offers fixed deposits with competitive interest rates, which can be opened conveniently online. To open a fixed deposit with Klarna, customers are required to have a Klarna bank account as a reference account. While Klarna's interest rates are attractive, the range of deposit terms and options may still be more limited compared to those available at traditional banks.

Open Klarna bank fixed deposit