The easy (and free!) way to support positive change: Tomorrowbank
August • 18th, 2020
by the Expat in the City Team
Mobile banking for a better future
When you move to a new country, banking is one of the first topics you have to deal with as an expat. First of all, German banks that offer english-speaking services and online banking are rare. Since the choice is limited already and you will probably also want to chose the very best one for you, it can become a real challenge.
Of course the 'best' probably means something else for everyone. At Expat in the City we love companies with a sustainable and forward thinking approach, so we want to introduce you to the one bank with surely the best values: Tomorrowbank.
Living in uncertain times, it becomes more and more relevant to live our lives aligned to positive and sustainable values. We spend money everyday - so why not start here? Tomorrowbank is an easy (and free!) way to support positive change! For every euro you spend with your Tomorrow card you protect 1 m² of rainforest. Sounds good to you?
Here's what you need to know:
1) The Problem
Only few people are aware that money has an effect. Whether it is a lot or a little, money is used to finance industries that are often totally unrelated to their customers mindset. This system makes it possible that coal mining is promoted, mass animal husbandry is supported or cluster bombs are produced.
2) The Tomorrow approach
Tomorrow wants to ensure that money is part of the solution rather than the problem. Money should contribute to making all our future green, diverse and worth living. The fintech-company from St. Pauli makes the promise that customers' money will only support projects such as microcredits, renewable energies or organic farming. And in order to make a contribution to protecting our planet every day, a portion of every customer's card payment in spent in climate protection projects. The account is just as smart as our phones and makes banking as easy as child's play. It systematizes all receipts and expenditures and transfers or offers the possibility to pay into digital pocket in order to save for a holiday or a new bicycle.
In the app's Impact Board you can follow in real time how and where your money is working and what impact it is having:
3) Facts about the products
The basic current account is free of charge and can be opened in 8 minutes on your smartphone, the card will be sent by post a few days later and you can start banking. You can withdraw money at any ATM worldwide, up to three times a month for free, at the fourth withdrawal there is a fee of 2€. Withdrawals abroad are subject to a foreign currency fee of 1.5%.
In addition to the basic account, there is also a premium offer: Tomorrow Zero, the first current account that compensates for the C02 footprint of its user. For 15 € per month, users can withdraw unlimited amounts of money, create unlimited pockets and massively increase their positive impact on the climate by supporting various climate protection projects in Vietnam, Uganda and Peru.