• Bank Zero operates as a fully mobile bank where all services run through a dedicated application.

• The platform offers no monthly fees, no minimum income requirements, and flexible multi-account management.

• The bank applies charges on cash transactions while maintaining free digital services such as balance checks via the app.

Line Wiid analyzes the limitations of traditional banking systems and introduces greater flexibility and transparency through a fully digital model. She co-founded and serves as executive director and chief financial officer of Bank Zero, a mobile banking institution targeting both individuals and businesses.

Founded in 2018, Bank Zero operates entirely through a mobile application. The platform allows users to complete all banking operations digitally.

The account opening process begins with the creation of a personal profile, which the system uses for identity verification and regulatory compliance. Once the platform validates the profile, the user accesses a dashboard that allows the addition of multiple accounts or profiles, including those for business activities.

The application allows users to check balances, make payments, manage cards, and create or administer multiple accounts tailored to personal, family, or professional needs.

For individual customers, Bank Zero offers accounts with no monthly fees, no minimum income requirements, and no minimum balance constraints. Users can also add savings or notice accounts without incurring opening or maintenance fees. In addition, the platform allows users to set savings goals directly within the application.

However, the bank applies fees to cash-related transactions. The platform offers free balance inquiries through the application and free daily statements sent via email.

In contrast, the bank charges fees for balance inquiries conducted at point-of-sale terminals or automated teller machines. It also charges cash withdrawal fees based on transaction amounts, with higher tariffs applied to withdrawals made abroad.

Line Wiid graduated from the University of South Africa in 1991 with a bachelor’s degree in accounting. She later earned a master’s degree in IT auditing from the University of Johannesburg in 1995.

She began her career in 1988 at PricewaterhouseCoopers, where she worked as an assistant audit manager. In 1994, she joined Capespan International as a management accountant. Subsequently, she worked at First National Bank from 1996 to 2015, where she held roles including chief financial officer, product and marketing head, and chief of staff to the chief executive officer.

This article was initially published in French by Melchior Koba
Adapted in English by Ange J.A de Berry Quenum