Folio Reviews 55

ive been using this bank for a while now, the app is generally easy to use but sometimes it takes a bit loger for certain transactions to go through
overall it gets the job don

Denied my application without explaination.

Waste of time. After waiting for days for a process that its done in minutes on altinn. You get oh wait or go somewhere else. Terrible customer service
Higher cost on bank transactions
Reports on rejecting people followed by racist comments

Oh i got turned down cause I have another nationality 😂😂 I am not fit cause I am only half Norwegian.
Absolute waste of time
Oh an they believe they dont have to justify why applicants turned down.

Small startup acting big when they dont have a capacity to run daily operations.
Like people gotta pray to them to take their money 😂
So glad their rating is going lower and lower so they can fall in their right spot where they belong

after filling up my establishment form for my company on Altinn. i went to folio to get a bank account, their website ask me to just ignore that form and fill up a new form via their website wizard. two weeks later i contact them and nothing been done, bank account is not created to deposited my capital, so they took a few seconds task and made it two weeks, when i contacting their customer service this is the answer i got in the exact same wording
" Petter from Folio: Again i am sorry, but this is our processing time.
If you want to cancel the application and go somewhere else, that is completely understandable."

So the whole point is to join them to automate processes and have a smoother banking is gone. instead they will complicate things and literally tell you if you don't like it go somewhere else instead of solving your issues and trying to help you.

great start hahahah

Seems like Folio does not want to work with foreign nationals living in Norway. After 5 weeks processing time I was informed that they refuse to open the account, without explanations (even after I asked for the reasons). I have been living in Norway for 2 years with a resident permit, running a ENK with steady incomes for 1 year, tax return available, personnal bank account in another bank, bankID available. But seems like my nationality was the issue ?

It is cheaper than most other banks. I save up to NOK 15000 per year by using Folio in my company