Following the introduction of new products such as the new credit card debt Traditional, guaranteed and innovative savings and investment options, Hey Bank Mauricio Bolesteros, director of products and services for individuals at the financial institution, said the company was now preparing to engage in new services such as auto and mortgage lending.
“The difference we want to promote with this product and service experience is to change the unfavorable paradigm and now see a bank as a partner to achieve financial independence,” Palestros explained.
“We look to improve the quality of life by making money, finance and banking services the top priority of stress in Mexico,” he added.
He stressed that Hey Bango’s philosophy conveys the highest value to its customers.
“We are thankful for having a slim cost structure unlike traditional banks with high operating costs.”
“We send these savings to customers, which reflects high returns, low interest rates and the most attractive rewards on their debit and credit cards. We offer the possibility of making money through the use of the account, thanks to which the lean spending system,” he explained.
Balusteros pointed out that Hey Bango, the most highly-tech company providing financial and banking services, is only 100 percent digital banking.
“As part of the technological development, it is very important to the users in business, design and customer service and integrates everything like product design, application design. Very easy to use, very intuitive”.
Service access is through the use of the portal, social networks and its call center to serve all its customers, he said.
He commented that they have all the digital facilities to compete with the most important Fintech companies and also to compete with some segments of the big traditional banks.
Polesteros pointed out that they have recently introduced two types of credit cards, which are traditional with variable rates according to the customer’s risk profile.
“Everyone has their own type of risk adjustment rate, and if you lower the interest rate each month, there is a 1 percent cash reward plan for physical businesses, 2 percent for businesses in BanRio or Hay, 2 percent for bango terminals and online purchases,” he explained.
The other method is a guaranteed credit card, for those who have no history, or have a very good or bad history, they guarantee a sum that they can use instead of using it as a debit. It is a loan.
“This credit card is similar to a debit card. It’s double, with two numbers on the back of the same plastic. When you come to a terminal in the world they ask if you want to pay with debit or credit, you choose.”
Regarding the body card, he said that as soon as the customer requests it, it will arrive within five to seven business days. They can pay from 7-Eleven and the same Hey Bango account.
“We have many designs in physical plastic, which includes our 2021 collection, five different plastics that can be customized with your name, your initials or even your nickname,” Palestros explained.
He pointed out that they launched two investment options: Hay Investment and Hay Global Fund, which have the priority of being able to give the customer more value.
Hey investment pays interest rates ranging from 5,000 pesos to 6.5 percent for a period of 7 days, making 6 transactions of at least 100 pesos per month.
Hay Global Fund provides access to investment in the largest companies in the most developed economies, through equities and high performance indices. Funds can be accessed from 1,000 pesos in one or two clicks.
“What we did at Hey Bango was to give them an option to diversify, basically you can invest at a rate of up to 6.5 per cent per annum, which is more than competitive, but we also have a fund, the variable returns invested in the company are generally traded indices, resulting in their performance ”, Explained the cholesterol.