Moneta runs a system of 160 locations and over 550 ATMs. As deposit ATMs, over 164 Moneta ATMs are active at once. The benefits of it include a bank account that is cost-free and without restrictions, contemporary payment options, competitive loan and loan rates, the most incredible banking app, Smart Banka, and contemporary, transparent banking.
Overview
The US Corporation General Electric established Moneta Money Bank in the second half of the 1990s under the name GE Capital Bank. It will purchase the profitable portion of the bankrupt Agrobank. In addition to embracing the slogan “Green for your finances!” GE also amassed a sizable branch network, which assisted in its following expansion in the Czech banking industry. GE Money Bank became the official name in 2005. Eleven years later, GE is selling GE Money, its financial arm. Eská Banka is renamed once more to Moneta Money Bank, under which it continues to conduct business today, following the listing of its shares on the Prague Stock Exchange. It offers the following categories of banking products: current accounts, mortgages, loans, credit cards, savings accounts, fixed deposits, and growing savings.
GE Capital Bank in America is where it All Began
As GE Capital Bank, Moneta Money Bank was established in 1998. During that time, the GE Capital Bank division of the US Corporation General Electric (GE) entered the Czech market. It changed its brand visualization to become GE Money Bank in 2008. In 2016, GE sold its banking businesses, and the Czech GE Money Bank went public and changed its name to Moneta Money Bank. Following in the footsteps of Agrobanka, which has been active in the Czech Republic since the 1990s. Moneta began operations in 2016. After failing, Agrobanka merged with the installment company Multiservis in 1998 after the US Company GE acquired it.
Under the Guidance of the Czech PPF since 2016
Since the parent corporation GE chose to sell its financial subsidiary and depart the Czech banking sector in April 2015, the altered name was effective in 2016. The titles of the subsidiaries were also altered in a similar manner. GE Money Car and GE Money Leasing were renamed Moneta Auto and Moneta Leasing. GE basically sold the bank when it listed its shares on the Prague Stock Exchange in 2016. Tom Spurn, who formerly worked at PPF, among other places, has led the bank since 2015. The Wüstenrot mortgage bank and credit union reinforced Moneta in 2020.
Many Options for Goods and Services
It gained a solid and distinctive identity as a wholly Czech bank with the new name Moneta Money Bank. To retain continuity while simultaneously beginning to grow, it built upon the knowledge, reputation, and trustworthiness of GE Money Bank. It currently offers a wide range of goods and services and investment options to roughly 1.4 million customers in the Czech Republic. It is the fourth-strongest bank and one of the best banks in the Czech market. She constantly aspires to innovation, treats clients fairly, and is adaptable to change. A really professional bank, that one.
Moneta operates a network of 160 locations in the Czech Republic and more than 550 ATMs. As deposit ATMs, more than 164 Moneta ATMs are active at once. The benefits of Moneta include:
- A current account that is cost-free and without restrictions.
- Contemporary payment options.
- Competitive loan and mortgage rates.
- The greatest banking app.
- Smart Banka.
- Modern, transparent banking.
The most significant exchange rate for online currencies, free withdrawals from any ATM worldwide, and free withdrawals from Moneta ATMs and other Czech banks are additional benefits.
By obtaining Wüstenrot stavebn spoitelna and mortgage bank in April 2020, Moneta doubled its stake in the mortgage market and joined the building savings sector. The redesigned financial institution became effective in July 2020. Moneta Stavebna Spoitelna merged with Moneta Money Bank on January 1, 2021, and this process was successful. It represents the next stage in implementing the strategy to finance Czech families and business owners. GE Money Bank, formerly it was created in 1997 under the name GE Capital Bank. General Electrics liquidated its financial divisions in 2016, which allowed the bank to enter the market as a wholly Czech bank that may be traded.
For Companies and Homes
The bank continued operations, built on the reliability and reputation of GE Money Bank, and started concentrating primarily on digitizing financial goods. It is among the top and expanding suppliers of financial and banking products and services to Czech households, independent contractors, small and medium-sized businesses, and its subsidiaries. It provides its customers with the best online services and solutions in addition to the convenience and amenities of local branches in their areas of residence.
The Moneta Financial Group, which contains the bank as well as Moneta Leasing, Moneta Auto, and Moneta Stavebn spoitelna (the last of which was formed after it acquired a 100% stake in the businesses Wüstenrot stavebn spoitelna and Wüstenrot hypotenuse Banka in April 2020), contains the Wüstenrot stavebn spoitelna and the Moneta Money Bank. The bank claims its objective is to lead the way in digitization and provide advancements to the Czech banking industry.
Simple Online Ordering for All Products
A current account that can be discussed entirely online without going to the store or sending a deal through a courier was introduced by Moneta in 2017. Additional online goods are a credit card for regular clients and entrepreneurs, a loan and credit for entrepreneurs, and a savings account. Moneta Money Bank acts with the utmost integrity while dealing with customers, vendors, and staff. It is dedicated to abiding by the Czech Banking Association’s Code of Ethics. Since 1999, bank employees have participated in the Moneta Volunteers initiative, which has become a crucial aspect of Moneta Money Bank’s socially responsible efforts.
The bank received a Gold Certificate in the Most Engaged Employees 2017 category for these volunteer activities. In 2012, the bank established an “Ombudsman for Clients.” Beneficial projects and company sponsorships focus on supporting local communities and volunteering. In 2016, the bank supported over 50 projects for almost 2 million crowns.
Multiple Awards for the Bank and Goods
The numerous accolades Moneta has received serve as evidence of its success. Moneta Money Bank is honored with several accolades for its initiatives and offerings every year.
Competition for 2021’s best bank: Hospodáské noviny.
Golden Crown Competition 2020: First place in the Online Application Category for the Smart Bank Product.
- 1st place in the Construction Savings Category for the Kamarád+ Building Savings Product.
- 2nd place in the Public Award Category for the best financial product, Smart Bank.
- 1st and 3rd places in the Public Prize Category.
- Golden Crown Competition 2020: 3rd place for the Entrepreneurs’ Award.
- 2nd place for Construction Savings.
- 3rd place for Payment Cards.
- 2nd and 3rd Places in the Online Application Category.
- 3rd place in the Business Accounts Category.
- 1st place in the Business Loans Category.
The Smart Banka smartphone app is among the most coveted items. Also, the bank received numerous honors, including seven medals in the Golden Crown competition for 2019, Mortgage of the Year for 2018 and 2019, Banking Innovator for 2018 and 2019, Mobile Application for 2017, and Invention of the Year for 2018 from MasterCard and VISA. She received the Progressive Short-Term Fund award in 2013. It earned the public prize for its internet banking in 2010 and 2009. Starting in 2008, GE Money Bank joined the Czech Olympic team as an official sponsor. It continued in 2010 for the Winter Olympics in Vancouver and 2012 for the Summer Olympics in London.
A Professional Assessment of MONETA Money Bank
A more giant bank with significant banking facilities that had previously focused mostly on credit cards, leasing, and personal loans. Moneta was, therefore, less competent and used to offer more costly goods on the marketplace. However, Moneta has improved and now provides a free current account, although with restrictions. The bank features a leading digital mobile banking app and uses the most recent payment technology (contactless stickers). Private and small business borrowers now pay lower average interest rates for loans and credits.
Moneta Money Bank places a lot of emphasis on services for businesses in the farming and retail industries and small and medium-sized enterprises, besides offering services to residents and independent contractors. In the Czech Republic, the institution has a respectable network of more than 150 branches and more than 550 ATMs. According to the bank, it served 13% of the Czech population. It consequently belongs more to established, thriving institutions.
