Hi there, we will review Wallester to help you find out whether it is the right neobank for you!
Wallester is a fintech company that provides a sophisticated platform for businesses to issue and manage customized white-label payment cards, both virtual and physical.
Wallester supports businesses across various sectors by enabling them to design, distribute, and control their payment cards, whether for internal use by employees or as part of broader customer loyalty and payment solutions.
Overall, Wallester empowers businesses to take control of their financial services by offering flexible, scalable, and secure payment solutions. Its white-label card offerings, combined with robust security features and seamless API integration, make Wallester a valuable partner for companies looking to innovate in the financial services space, streamline expense management, and provide tailored payment experiences to their employees or customers.
In this review, we will dive deeper into the key features and benefits of Wallester.
Overview
Wallester Business delivers a comprehensive suite of financial solutions designed for companies seeking efficiency, flexibility, and modern convenience.
These include customizable corporate card programs linked to European IBAN accounts, enabling seamless management of business expenses. With its intuitive platform, users can issue virtual and physical cards, track real-time transactions, and set spending limits, providing unparalleled control over financial operations.
The system also supports multi-currency functionality and integrates effortlessly with existing accounting software, making it a perfect fit for global businesses and enterprises operating in diverse markets.
While Wallester Business shines in its innovative offerings, it is currently limited to operations within the European Economic Area (EEA). This geographical restriction may pose challenges for companies with a presence outside Europe. Additionally, businesses reliant on traditional financial infrastructures, such as in-person banking services, might find Wallester’s entirely digital approach less suited to their needs.
Pros and Cons
Pros
- No monthly fees for account management or card issuance.
- Fast account opening
- Flexible corporate card programs with customizable spending limits.
- Integration with popular accounting and expense management software.
Cons
- Limited support for non-European currencies compared to some global competitors.
- May require technical integration efforts to fully utilize advanced API features.
- Lacks traditional banking services like loans or overdraft facilities.
Wallester Account Types
Wallester stands out with a clear and transparent pricing policy, offering a range of packages designed to meet all needs and budgets:
- Free plan option – €0/month
- Premium plan option – €199/month
- Platinum plan option – €999/month
- Custom plan option – custom price
Free plan option
The Free plan (free of charge) comes with:
- Euro current account
- No monthly fees or minimum deposits
- Up to 300 virtual cards included
- Unlimited number of physical cards
Premium plan option
The Premium plan (€199/month) comes with:
- Euro current account
- Up to 3000 virtual cards included
- Unlimited number of physical cards
- Additional virtual cards (€0.20/month per 1 card)
Platinum plan option
The Platinum plan (€999/month) comes with:
- Euro current account
- Up to 15,000 virtual cards included
- Unlimited number of physical cards
- Additional virtual cards (€0.10/month per 1 card)
Custom plan option
The Custom plan (custom price) comes with:
- Euro current account
- All benefits of the other plans
- Customer success manager
- Onboarding assistance
- Custom contracts and better rates
- 24/7 priority support
- Dedicated account manager
- Open developer APIs
How to open an account with Wallester
In order to use Wallester, you will be asked to provide the following:
- Meet the eligibility criteria, regarding the legal status of your company and its geographical location
- Essential information about your company: SIRET number, VAT number, etc
- Filling out the registration form
After validating your file, you will receive your login details, officially marking the opening of your Wallester professional account. Also, you may be asked a few questions about yourself and the purpose of your account (these questions will not impact your eligibility).
The Wallester Card
No matter which account you choose, your Wallester card will be a VISA, which you can use to make purchases around the world wherever VISA is accepted.
Likewise, you can spend in multiple currencies and get automatic money conversion at near the real exchange rate. Making international purchasing faster and easier.
You can have more than and you can also associate your virtual card with your Apple Pay wallet or Google Pay wallet.
Wallester is transforming the game by offering Visa cards to all employees, fostering a culture of trust and empowerment. This groundbreaking initiative simplifies daily transactions and engages every team member in a responsible and transparent approach to managing business expenses.
Each card serves as a gateway to streamlined financial management, enabling employees to handle their professional expenditures effortlessly while maintaining full visibility and control over their transactions.
White label cards
The concept of “white label” or “white branding” involves a product or service created by one company that is customized and marketed by another under its own brand name. Companies may want to issue their own cards for a number of reasons, such as launching a store card, creating a gift card system or equipping employees with a company-branded expense card.
In the banking sector, Wallester provides a ready-made banking platform that businesses can rebrand and offer as their own. This approach is a game-changer for companies aiming to expand their service offerings without building a banking infrastructure from the ground up.
Wallester handles the technical and regulatory challenges, enabling businesses to concentrate on delivering exceptional experiences to their customers. This model accelerates time-to-market, minimizes development expenses, and leverages Wallester’s established expertise and robust infrastructure. It’s a mutually beneficial strategy that fosters innovation and collaboration within the financial industry.
Business account fees
The Business accounts plans comes with some fees comon to all plans, which are:
- 1.20% top up fee by credit or debit card
- Fee for additional virtual card
- €5.00 physical card delivery
- 2.00% ATM withdrawal fee in Europe and 2.00%+€2.00 internationally
- Fees for some administrative transactions
- More fees may also apply
The values will vary depending on the European country and VAT number/industry!
The same conditions will also apply for SEPA payments, for ATM cash withdrawals limits, and other conditions
Is it safe to use Wallester?
Wallester operates under financial regulations of Estonia and are an audited company, ensuring they meet the highest financial security standards.
Moreover, Wallester offers several protective measures:
- Biometric authentication
- Spending limits to avoid unexpected expenses
- The ability to create a one-time-use online card for safe online shopping
- The option to freeze the card instantly
As a result of the fast evolution of new scams, Wallester is continually developing new solutions to combat the latest fraud and scam technologies.
In which countries does Wallester operate?
Wallester Business operates within the European Economic Area (EEA) and extends services to clients in the United Kingdom, Ireland, Switzerland, Australia, and the USA.
Moreover, the White-lable solutions are available in the EEA, the UK, Switzerland and Ireland.
Additionally, this availability means that if you reside in one of this countries, you can easily open an account and access Wallester wide array of financial services.
Costumer Service
In the app and user account on the website, customers can access the support chat.
In addition, the website and app have a basic FAQs section, an email to contact and a blog with up-to-date information on the bank’s activities.
Bottom line
Wallester Business is an exceptional financial solution that simplifies and automates financial management for businesses of all sizes!
With its comprehensive range of services, user-friendly interface, and competitive pricing, it stands out as a valuable tool for both small enterprises and large corporations.
Whether you are a sole proprietor or part of a multinational organization, Wallester provides the essential resources to efficiently manage finances, issue custom spending cards, and streamline operations. Its intuitive platform enhances efficiency, reduces complexity, and empowers businesses to focus on growth and success.
In conclusion, balancing these pros and cons will help potential businesses determine if Wallester meets their financial needs and regional requirements.
