Wednesday, June 12, 2024
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Business banking start-up GoDutch launches in the Netherlands

  • GoDutch Launch:
    • Amsterdam-based business banking start-up GoDutch launched this week.
    • Aims to redefine “fair banking” by sharing up to 70% of its income with users and supporting climate and social impact initiatives.
  • Commitment and Features:
    • Committed to fair financial redistribution and achieving climate-positive status within two years.
    • Offers free business accounts with a Dutch IBAN and virtual card.
    • Additional benefits are available through tiered subscription packages.
  • Partnership and Security:
    • Partnered with French banking platform Swan for high safety standards.
    • Funds held in segregated accounts by one of Europe’s safest banks, protected by the European Deposit Guarantee Scheme.
  • Account Capabilities:
    • Instant SEPA transfers and transactions in over 20 currencies at mid-market rates.
    • Regreens a five-square-metre plot of land in Kenya’s savannah for every active business account each month.
    • Allows businesses to donate profits to curated charities.
  • Founder’s Vision:
    • Founder Thomas Vles criticizes traditional banks for disproportionate profits and charges.
    • Emphasizes fair distribution of income from financial services, benefiting customers, society, and the planet.
  • Future Plans:
    • Plans to launch API links with core partners soon.
    • Bulk credit initiation with XML is to be introduced within three months.
    • Integration of Dutch online payment method iDEAL within six months.

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