Apply for Bnext Card: What it is, Documentation, How to Apply, Why Use the Card and MORE

8 minutos de lectura

Apply for Bnext Card, It is usually one of the best options or alternatives for all those Spanish (or Mexican) citizens who wish to pay in non-euro currency. Also, this type of card offers various benefits for all its customers.

For this reason, in this article we dedicate ourselves to explaining in depth: what is Bnext, what is the Bnext Card, documentation and requirements to carry out the request, how to make said request, who can request the card and we conclude by clarifying why Bnext is used.

What is Bnext?

Well, before delving into the explanation of the requirements, types and services offered by the Bnext card, we must first develop the meaning of Bnext. Which, in short, is a type of direct bank and neobank founded in 2016 in Madrid-Spain.

Bnext, is a Spanish neobank and fintech that specializes in fully online banking and financial services, providing third-party products.

Bnext, was launched to the public on March 30, 2017. It should be noted that it did not have a banking license, because it did not carry out activities that needed to have it. It was not until February 2020, when the Bank of Spain granted the license as an electronic money entity.

Likewise, Bnext is a service that offers its clients products similar to those of traditional banking, but that it’s not really a bank. This makes fintech present certain limitations in relation to a common bank.

Bnext is a new generation Spanish financial company, which is commonly known as fintech.

On the other hand, we must mention that the objective of said entity is to provide consumers with various services and products that in a traditional way, banks usually offer. An example can be: credit and debit cards, among others.

Now, in the words of Alfonso Sainz de Baranda, Chief Growth Officer -CGO- says that “Bnext, it is not a bank. Therefore, all those who are not satisfied with the way in which traditional banks treat them, can stop using them and come with us ”.

One of Bnext’s objectives is to differentiate itself from banks, although they are in charge of offering the same services to the user. However, the difference is that they do not do business with your money by reinvesting it, nor do they charge commissions.

Continuing with the previous text, it is important to clarify a relevant aspect. And it is that, instead of reinvesting money, your income comes from commissions They charge providers every time users hire a financial service.

Behind Bnext, there are very powerful investors, all of them international. In addition, and based on data provided by the company itself, its shareholders include: Founders Future, Pipeline Capital Partners, Tekton Ventures and Andreas Mihalovits.

Services They Offer

The services they offer are the most common for banking entities for the end user, but they focus on providing a user-friendly and easy-to-understand experience.

In a nutshell, Bnext is a kind of advanced Paypal with physical cards. In addition to this, we must mention that said card can be activated and deactivated from the application. This can be useful and interesting for users.

Likewise, this company offers other services such as, for example: purchase of foreign currency, loans, financial advice, insurance, investment plans, and mortgages. Although you can also withdraw cash from ATMs.

In addition, it is up to us to clarify that this type of card also has its advantages abroad. One of them is that it allows payment of commissions for currency exchange up to 2000 euros per month, and up to 3 withdrawals of money at ATMs without commissions.

It should be noted that like all nascent neobanks, Bnext does not offer a bank account as such, therefore, and as a consequence, it has some limitations.

Now, the advantage is that the money is 100% deposited, that is, they do not invest with it. Theoretically, this means that the money remains safe, and that the user can count on it by having a 100% cash ratio.

However, every user must bear in mind that Electronic Money Institutions can also go bankrupt, and that in case it happens, you must see what happens to the money as it is not protected by the Deposit Guarantee Fund.

The Bnext money is deposited in Banco Santander in an off-balance escrow account. For this reason, the balances are quite safe.

What is the Bnext Card?

Once Falabella’s explanation is completed, we continue this article offering a brief definition about the Bnext Card. Which is nothing more than a card made in Spain to pay in a different currency than the one used in the country.

The Bnext card is a prepaid debit and Visa card, which can be recharged based on what the user wants to consume wherever they are.

Likewise, this card is a quite interesting and innovative alternative as a temporary use card when moving abroad. In short, and without a doubt, the owner of it will save a lot of money.

On the other hand, we must mention that the Bnext card is a new way of living your money without conditions, without commissions and without complications. Furthermore, it is 100% online and secure, it is a free prepaid card, without commissions and Spanish IBAN.

Documentation to Request a Bnext Card

Generally, to obtain any type of document, entities or organizations require and demand a series of documents and requirements, in addition to the fulfillment of some steps. In this case, requesting a Bnext Card is no exception.

But, there is no need to worry, because below we will list the requirements and documents required to obtain it. However, it is essential that the person interested in applying for a Bnext Card are over 18 years of age.

Once the interested party reaches the age of majority, two requirements or documents that must be presented are added. Current official photo ID is included, and you must also download the Android or iOS app.

On the other hand, it is important to mention a particular aspect. And it is that, for all those foreigners who wish to apply for this card, they must present their respective NIE, a copy of the residence certificate and an identity document from their country.

How to make the request?

Now, to give continuity to this article, it is up to us to explain in detail how to carry out or how to apply for a Bnext Card correctly. Likewise, it is convenient to clarify that, requesting it is quite quick and easy.

  • From your smart mobile phone or computer, you have to enter the official web platform of Bnext Spain.
  • Then, the applicant must attach a photo of their DNI or NIE on both sides.
  • After a first deposit of 25 euros, you can request that the card be sent to your home for free within 48 hours.
  • Then you need to activate your new card with the help of the Bnext app. For this, you must insert the personal code that appears on the front of the Bnext Card.
  • Ready! Once these simple steps are completed, you will have your Bnext Card operational.

To start using your respective card, you can load it with money from the application with the help of another debit or credit card, either: VISA, SEPA transfer or MasterCard, which takes approximately 3 business days.

Who Can Apply for a Bnext Card?

Well, in the first instance it is up to us to mention the correct way to request a Bnext Card. And, for the convenience of users, there are two ways to carry out this request. We invite you to continue reading.

  • First, if you follow the process from the beginning, after introducing your documentation, you will be able to see the screen where you must make the deposit using a card.
  • Next, you must confirm the address of the Shipping.
  • Now, if the process is not completed, you can view the main screen. Therefore, to make the request, you must click on the option: Order Card.

Now, currently, Bnext is available to both Spanish and Mexican citizens. In the case of Spain, any person over 14 years of age who has a DNI or NIE can access a Bnext Card. But, it must meet certain requirements.

Why is Bnext used?

In another vein, and to conclude, it has been important for our team to include a brief definition of the function of the Bnext Card. Remembering that this type of card is used to pay in a different currency than the one used in Spain.

  • No commission for opening or maintenance.
  • It is accepted internationally through MasterCard.
  • Up to 5% Cashback on purchases made at participating merchants.
  • Commission reimbursement when withdrawing cash from any ATM.
  • Reimbursement of commissions for currency exchange when using said card abroad.
  • The process of registering and finally obtaining the card is quite simple, practical and fast.
  • The process of sending and requesting money does not need IBAN or other requirements to complete the transaction.

To end our writing, we invite you to help us share the information.

See you soon!

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