meet the fintech

Frost: what's special about this new UK digital e-money account

frost card

Frost, a new UK fintech, is set to make its grand debut in May 2022. The e-money institution is expected to make headway and already in its earliest stage, it is showing a lot of promise — both to investors, shareholders, as well as subscribers. 

In this article, we’ll give you an introduction to what Frost is, what you should be aware of, what features it will have once it debuts, and, more importantly, if the new neobank is right for you. 

What is Frost?

“Put the freeze on your bills.”

Frost is a new and incredibly dynamic e-money account that’s meant to help folks get a better handle on their personal economy. 

The neobank’s main motto is that money shouldn’t evaporate faster than snow on a hot day — particularly your paycheck. The brand-new start-up promo to put “the freeze” on your bills, and give it some much-needed “breeze.”

The start-up’s app will permit its subscribers/users to open and manage a digital e-money account. Through state-of-the-art tech, Frost will offer its clients a series of amazing, and often times critical, financial tools. 

Amongst them are real-time track spending, foreign exchange rates, and operations, cross-border clear, transparent, no funny business or hidden charges payment as well as dozens of other amazing features. 

Ahead of its debut, the start-up aims to improve its client’s financial health. As its press release states: “busy people find smarter, more innovative ways to manage their money in an extremely challenging economic climate.”

As of February 2022, Frost became a principal member of Visa’s vast financial stronghold. The credit company's array of tools now at Frost’s disposal — allowing the fledgling company to further its mission of helping professionals, and the working stiff, better manage their finances. 

“Partnering with Visa is one of the best moves we’ve made as a business. It was clear that Visa immediately ‘got’ what we are trying to achieve with Frost, and they’ve been incredibly supportive in helping us reach principal member status ready for our launch,” Pawel Oltuszyk, Frost CEO, told the press. 

How much is Frost?

Here are Frost account fees:

  • Subscription is free

  • Money deposits are free, unless made with a non-EEA card (payee bank may apply charges)

  • A physical card costs 4.99 pounds

  • P2P transfers and local payments are free of charge

  • Withdrawals are free for up to 500 pounds in 30 rolling days in the EEA and up to 200 pounds in 30 rolling days. Any amount above these limits will be charged with a 3% fee

The History Of Frost 

Frost is a fairly new, to the point that as of this article, it has even launched an e-money account. The fintech, one of many right now deployed in the world, started its road to success in the later part of 2021. 

Its mission was simple: help the working professional get a better handle on their finances. 

Frost is located in Manchester, a city in the North West of England, And as of right now, 2022, its services are only available to UK citizens. The company is managed by Pawel Oltuszyk, the former serving not only as CEO but as visionary. 

Pawel is a self-described entrepreneur with over 12 years of business leadership under his belt. He is also the co-founder of Frost.

Currently, before its May launch, the app already has an impressive list of over 15,000 people on its waitlist. Frost states that once it launches, it will start inviting users, on a first-come basis — taking its time to onboard them, and scale up their platform. 

Features of Frost 

Although still in its baby-step phase, and not yet launched, Frost boasts some rather impressive features. The company’s main goal is to use premier tech, and dynamic digital tools to better and change people’s relationship with money — to better that interaction by giving folks a more detailed and comprehensive POV of the way they spend their money, how they manage it, where they can cut back, and other key metrics that might turn to be decisive to their finances in the long run.

Here is a list of some of their current features and benefits.

A Digital Account 

Easy to open digital account ---  No need to go to a branch, no need to queue, or set up an appointment with an agent, users can open a Frost account right from their cell phone. Users will get a UK account number, a sort code, and IBAN in a matter of minutes. 

Frost App

Through the Frost app, users will get instant notifications and key insight into their finances and how they manage them. The main idea is to give users, through predictive algorithms, if they are headed for a disaster further down the road — helping them keep their finances in the green, not the red, let alone the black. 


By partnering with Visa, Frost will be able to give its clients a recyclable, completely sustainable, and eco-friendly, Visa debit card. A beautifully crafted blue frosted card, that can be swiped wherever Visa is accepted. 

Frost’s Visa debit card will come fully connected to the company’s platform and app. Clients will be able to use it seconds after signing up — in digital form of course, while their tangible one is mailed to them. 

Set goals

Through the Frost app, you’ll be able to set up spending goals, as well as saving goals. Find out if you’re on track to finally fulfil your dreams.

Pay like a local

Another key feature of Frost is that through its Visa card you’ll be able to pay like a local whenever you’re abroad in a foreign country. Frost does all the heavy-lifting, giving its users, mid-market exchange rates, and charging a small fee. 

Get paid and Pay in seconds

Through its app, users will be able to send money to other accounts — easily, and instantly make local transfers using only a cell phone number.

Send money abroad

Send money abroad with extremely low transfer fees. 

Find out if you’re paying more

Through Frost’s platform, you’ll be able to see if you’re paying more for your utilities. How? By giving you the option of comparing your costs, to those of others in the field. 

You’ll be able to see if you’re getting a just price for your services, your utilities, your insurances, as well as from your mortgage providers.