Bankinter is revamping its card strategy to simplify its offering and deliver greater value to customers
The bank aims to drive a payment model focused on customer engagement and ongoing relationships, rather than one based solely on product.
The bank is launching a new credit card linked to the Salary Account, which will offer 5% cashback on subscriptions to entertainment platforms, as well as the "Traveller Plan".
Bankinter will offer three types of cards: the debit card; the newly announced credit card; and the Infinite card, already launched for high-net-worth customers.
Summary generated with artificial intelligence:
Bankinter is shifting its strategy in payment methods. The Bank aims to move from a model heavily focused on product to one centred on ongoing customer relationships, seeking to position itself as customers' primary bank for day-to-day life. For this reason, the Bank has decided to simplify its product range and provide customers with additional advantages.
In doing so, Bankinter is evolving from a traditional catalogue-style card model to a more dynamic approach, in which value grows in line with the customer's relationship with the Bank. In this new model, cards are no longer a standalone product but become a central element in an ongoing relationship.
In March, Bankinter began the first phase of this transformation with the launch of the Infinite credit card, aimed at Wealth Management customers, as the Bank's Private Banking business is known. Now, Bankinter is launching the new credit card, which brings even more value to customers.
This proposal includes two new features – cashback and travel benefits – which reward customer engagement and will be rolled out progressively, replacing the current card portfolio. For customers with a Salary Account, the card will include 5% cashback on subscription payments for entertainment platforms such as Netflix, Spotify, Prime Video, Disney+, HBO Max, DAZN and Filmin.
What's more, it also includes the “Traveller Plan”, which allows fee-free payments at merchants outside the eurozone, up to a maximum of €1,000. This is complemented by accident insurance and travel assistance insurance, as well as free withdrawals at more than 18,000 ATMs across Spain, thanks to agreements established by Bankinter with other entities.
Meanwhile, the version not linked to the Salary Account will also include 5% cashback on entertainment platform subscriptions, subject to an annual cap, and will retain accident and travel insurance, as well as free withdrawals at more than 18,000 ATMs across Spain. In this case, the card will be free for the first year and will have an annual fee of €50 from the second year onwards.
A stronger, more coherent range
With the launch of the new card, Bankinter is introducing a card range built around three pillars: the debit card, the newly launched credit card and the Infinite card for high-net-worth customers. This gives customers access to a stronger range of cards that also offers greater value. With this new initiative, the Bank is streamlining its portfolio and building a more coherent, customer-centred model in which payments become a key driver of customer engagement and value creation.