Oval: what it is, how it works, costs, how to recharge

Designed by two young Italians, the Oval account allows you to manage your finances in an innovative and smart way. Here's how it works and how much it costs

Italian head and British heart. OVAL was born in 2016 in the UK from an idea of Benedetta Arese Lucini, Claudio Bedino, Edoardo Benedetto and Simone Marzola and, like many other fintech products, it aims to change the world of finance as we know it today. Only, unlike many other international fintechs, it does it with a completely different approach.

The purpose of OVAL, the first product born from the mind of the two young Italians, is to "educate to savings and investments". The platform, in fact, offers several tools for the management of finances and allows you to invest even small amounts (starting from 10 euros). The second step was to create Oval Pay, an account card that allows access to expense management services without having to "lean on" an external current account.

What is Oval Pay

Oval Pay is an account card with Italian IBAN of the Visa circuit that, in addition to the "usual" functionalities offered by other account cards or "physical" banks, also provides users with tools for expense control and "automation" of Money investments. A service that is unique in its own way, combining in a single product both a payment tool and exclusive functions that "teach" the user how to better manage his earnings and his monthly budget.

How Oval Pay works: the main functions

The core of Oval, as of any other fintech service, is the app for smartphones available both on Android and iPhone platforms. From the app it will be possible to manage your Oval Pay account, as well as join the Future program and receive suggestions on how to manage your money and make small investments.

"In the main screen you can view the balance of the Pay and Future sections and the savings you are accumulating, while in the bottom bar there are shortcuts to access all the other features and tools. The app is divided into the Pay section, from which you can manage your payment account and your Visa debit card, and the Future section, where you can accumulate savings, set savings rules based on your habits, check your income and expenses by associating your current accounts and cards to the app and manage your investment portfolio. Grazie alla carta Oval potremo fare acquisti online, pagare presso tutti i punti vendita che accettano Visa e prelevare contanti da qualunque bancomat in giro per il mondo. Dalla sezione dedicata sull’app, invece, sarà possibile gestirne gli aspetti “amministrativi": si potrà congelare o bloccare, chiedere nuovamente il PIN e gestire i limiti di spesa mensili e giornalieri.

Oval Pay costi

Oval Pay non ha canoni mensili di gestione né costi di adesione. L’apertura di un conto corrente è gratis, va fatta attraverso l’app e richiede una manciata di minuti. I prelievi dai bancomat in euro sono gratuiti in tutti i Paesi dell’Area Euro, mentre per quelli in valuta straniera si dovrà pagare 2,5 euro per ogni prelievo. I bonifici ordinari sono gratuiti, mentre quelli istantanei (con accredito della somma sul conto corrente del destinatario nel giro di pochi secondi) costano 1 euro. Trasferire denaro tra conti Oval Pay, invece, è sempre gratuito e immediato.

Come ricaricare Oval Pay

Per ricaricare la carta Oval Pay – e, di conseguenza, trasferire denaro sul conto corrente collegato – si avranno tre possibilità:

  • Bonifico bancario. Se si ha un altro conto corrente, si può ricaricare il conto Oval Pay semplicemente effettuando un bonifico utilizzando il suo IBAN italiano
  • Trasferimento Oval. Come già detto, il trasferimento di denaro tra conti Oval è sempre gratuito e immediato. Se avete bisogno di essere ricaricati immediatamente, dunque, potrete chiedere un accredito a un amico con conto Oval
  • Ricarica in contanti. La carta conto Oval può essere ricaricata in contanti in oltre 17 mila punti vendita convenzionati. Per conoscere quello più vicino basterà controllare attraverso l’apposita funzionalità all’interno dell’app