British credit card rewards startup Yonder has launched its first premium debit cards.
The new Mastercard debit cards offer the same perks as Yonder’s credit card: points earning, zero foreign exchange fees, curated local rewards, and travel-friendly benefits.
The Yonder Free Debit card earns one point per £1 spent with no monthly fee, while the Yonder Full Debit card earns four points per £1 spent and provides full access to Yonder Experiences, including travel insurance worth £275 for £15 a month or £160 a year.
Founded by three Clearscore alumni and launched in 2022 with £20 million in startup funding, Yonder aims to address the challenges faced by expats with no credit history when applying for credit cards in the UK.
The company utilizes open banking data to create a more nuanced, personalized understanding of customer spending habits and suitability for credit, offering a suite of rewards-based programs to cardholders.
Yonder reports that its members have spent over £170 million, saving more than £1.2 million in foreign exchange fees and redeeming £1.1 million in rewards.
Earlier this year, Yonder secured a minority investment from NatWest, with the high street bank planning to collaborate with Yonder to enhance customer experience, engagement, and rewards for its 19 million customers.