#DigitalBanking / WeLab Bank launches in Hong Kong

WeLab Bank, the virtual bank operated by Hong Kong-headquartered fintech WeLab… is offering users a numberless debit card. [“…cardholder’s account number and CVV code are securely stored in WeLab Bank’s mobile app and won’t be printed on the physical card.” https://www.welab.bank/ ]

They can also earn up to 4.5% on their deposits with GoSave. GoSave is a time deposit. Its annual interest rate is determined by the number of people which join each deposit batch.

[“GoSave is a time deposit where customers are in control of their own financial journey and save money in a brand new way. Customers are empowered to drive up the interest rate by saving together with family, friends or others WeLab Bank customers who want to GoSave together. More people joining GoSave means a higher interest rate, up to 4.5% p.a. for everyone. It also offers unique flexibility where customers can withdraw their funds at any time without having to pay extra fees.” https://www.welab.bank/ ]