Avanza is the first Swedish bank to offer its customers direct deposits from other banks. This collaboration between Trustly and Avanza makes it possible for customers to transfer money to Avanza in real time from another bank account. Almost 20% of Avanzas deposits are now made via Trustly.
The conventional transfer system between banks only allows transfers to take place a few times during each business day. Trustlys payment engine now enables faster transfers between bank accounts from other banks.
The collaboration began in December 2015 when direct deposits were launched for desktop platforms. The service was then extended to mobile platforms and Avanzas mobile app in April 2016. Since then, the average time for Avanza customers to make a deposit has reduced from 14.000 seconds to 10 seconds.
Two months post launch, Trustly direct deposits account for almost 20% of all Avanza deposits. In total, Trustly has facilitated 115.000 direct deposits at a value of GBP 163 million (SEK 2 billion).
The service supports deposits to Avanza from Handelsbanken, Nordea, SEB, Swedbank and Danske Bank. The most common authentication methods, including Mobile Bank ID, are supported.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now