Finax review

Finax runs a no-monthly-fee account, and the monthly fee is €0. The headline charge is the opening deposit of €10. Withdrawals are also free of charge, so moving money out does not add a cost either.

Balances are covered by EU DGS up to EUR 100,000, the EU deposit guarantee scheme. The account is held with Finax, o.c.p., a.s. in Slovakia, and the listed regulator is the National Bank of Slovakia. That protection caps how much the scheme pays out per depositor.

The account is easy access, and withdrawals are free of charge. The catch is timing: Anytime withdrawal free of charge, funds in 3-10 days, so plan ahead for larger transfers. There is no monthly charge to complicate the calculation.

You need a minimum deposit of €10 to open the account. That is higher than the site median of €0.11 for savings accounts, so it suits people who can leave a set amount rather than those starting from a very small sum.

Finax offers an easy access account, which is the most common type on the site at 76.7%. There is no notice or fixed term structure listed for this brand, so the balance stays accessible instead of being locked for a set period.

Support is available on email, chat and phone, so you can reach the team by phone, chat, email or the help centre. Phone and chat are the quicker routes for anything urgent, and the help centre handles the routine questions first.

Yes, Finax is based in Slovakia, where the listed regulator is the National Bank of Slovakia, and the legal entity is Finax, o.c.p., a.s. The company was founded in 2018, which makes it a young provider compared with long-established banks.

The interest rate for this easy-access account is not given in the published details, and the site median for savings headline rates is 3%. Because the account is easy-access, the rate is expected to be lower than fixed-term savings, and it can change over time.