Quppy: It's Always Useful to Have a Backup Account

Having a backup option in a digital bank today is part of a prudent financial strategy. We explored the possibilities of Quppy and tested its capabilities.

Account Opening
Everything is typical: you need to provide a European passport or a residency permit document. Approval usually takes about 10 minutes. Of course, unless you happen to share the same name with someone on a sanctions list. The system may not approve the request, but customer support quickly resolves the situation.

Funds Transfer
The bank opens personal named accounts with British IBANs in pounds and euros, but plans are underway for accounts within the EU as well. To instantly top up your account, you need to link a card or send a payment via SEPA Instant. Pre-orders are open for the Quppy plastic card, which will be available by the end of the year.

You can freely transfer money to an account in another bank without fees. We tested it - euros from the UK took a day, while funds from Quppy to a Dutch account were credited within half an hour.

Non-banks are usually more lenient towards customers, and the account can be used as a transit account for further transfers to more demanding financial institutions.

Currency Exchange Operations
Quppy allows exchanging pounds for euros and vice versa for 1.5%. But the more sought-after feature is exchanging cryptocurrency for fiat currencies.

Cryptocurrency Operations
Quppy allows you to open a new cryptocurrency wallet in the app - Bitcoin, Litecoin, Ethereum, Tron, and various USDT. It looks similar to a fiat currency account and facilitates internal transfers. You can also connect an external wallet from another app, and everything will be within reach.

Wallets can be hot for payments and quick operations and cold for secure storage. Access to the latter is exclusively on the user's side.

Quppy's AML Bot helps verify the legality of cryptocurrency before receiving it to prevent your funds and wallet from being blocked.

For Business
The bank opens accounts for both individual entrepreneurs and companies. Service for beginners in large banks can be disadvantageous, while flexible Quppy helps save, especially if you accept payments in cryptocurrencies.
The bank even opens accounts for large businesses with a high-risk profile.

The bank is new and therefore incentivizes its customers with bonus payouts in USDT for various actions, and it's also developing a referral program.

What are the test drive conclusions?
  • Quppy is suitable for storing small amounts of money needed in emergencies.
  • A major advantage is the ability to convert cryptocurrencies into euros or pounds and then send them to your account in any bank worldwide.
  • For small businesses with low turnovers, it's convenient to open their first account here, as support can assist them in all financial operations and provide legal advice.
  • If you need to consolidate funds in one account, including from high-risk jurisdictions, Quppy provides this opportunity. However, a 1.5% commission is charged for high-risk operations.

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