PYMNTS

JULY 30, 2019

In the sense that it is a bank, MoneyLion takes deposits and makes sure those deposits are FDIC insured through a backend partnership with a traditional bank, Choubey said. That is why, MoneyLion Founder and CEO Dee Choubey said , his firm has set out to build a bank that isn’t a bank.

Consumer 76

Consumer Financial Literacy ATM FDIC 76

PYMNTS

SEPTEMBER 4, 2019

The startup is an FDIC-insured mobile bank that has no physical branches and pledges to offer customers fewer fees. The overdraft initiative, called SpotMe, is geared toward customers who live paycheck to paycheck and deposit all of their earnings into their Chime accounts.

FDIC 43

FDIC Direct Deposit Debit Card Mobile Banking 43

PYMNTS

APRIL 24, 2019

In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. Since the firm partners with multiple banks, the deposits are insured up to $1 million. percent interest rate, while money market accounts return an average 0.21

Accounts 43

Accounts FDIC Direct Deposit Debit Card 43

PYMNTS

MAY 27, 2020

HMBradley launched high yield savings accounts and direct deposits at the end of March. If you talk to a bank CEO, they will tell you that most of them want to grow deposits, unless you are big enough that you worry about allocating capital. If you talk to a consumer, most of them want to make money on their money.”.

FinTech 94

FinTech Online and Mobile Banking Innovation FDIC 94

PYMNTS

JANUARY 30, 2018

The rules were simple: Consumers had to (a) have $250 direct-deposited each month into their account and (b) transact with the bank in a purely digital fashion (with no physical branch privileges) in exchange for a free checking account. The program was intended to compete with the “digital only” banks popping up at the time. “Our

Direct Deposit 43

Direct Deposit Online and Mobile Banking Checks Non-Bank 43

PYMNTS

AUGUST 17, 2017

Chase, Wells Fargo, Bank of America and Citi, to name a few, all scaled back their physical bank branch locations between 2012 and 2016, according to the Federal Deposit Insurance Corporation (FDIC). Additionally, if recent trends are any indication, physical bank branches stand to lose a lot of ground in the near future.

Online and Mobile Banking 53

Online and Mobile Banking Non-Bank FinTech Addressing 53

Fintech Labs Insights

MAY 24, 2021

Faster access to direct deposits. Security features (account freeze, real-time transaction notifications, FDIC insured). Features & benefits listed on homepage: Free. Business debit card with free withdrawals. app store ratings (actually 4.7 in Apple store, 4.5 in Google Play as of 20 May 2021).

Online and Mobile Banking 15

Online and Mobile Banking FDIC Direct Deposit Available Balance 15

Fintech Labs Insights

MAY 24, 2021

Faster access to direct deposits. Security features (account freeze, real-time transaction notifications, FDIC insured). Features & benefits listed on homepage: Free. Business debit card with free withdrawals. app store ratings (actually 4.7 in Apple store, 4.5 in Google Play as of 20 May 2021).

Online and Mobile Banking 15

Online and Mobile Banking FDIC Direct Deposit Small Business 15

Fintech Labs Insights

JANUARY 13, 2025

Treasuries/4.80% FDIC insured (11 Dec 2023**) Minimum Balance: none Traction Raised: $27 million including $22 million in 2022 ( Crunchbase ) Employees: 27 ( Pitchbook ), unchanged since Sep, up 2 since May, up 2 since Mar, unchanged since Nov 23 Website visits: 47,000 ( SimilarWeb , Nov 2024) Linkedin : 7,000 followers 15.

Small Business 28

Small Business NOV Checks Online and Mobile Banking 28

Payment Savvy

DECEMBER 2, 2022

These banks often have convenient ways to make deposits into your account, such as direct deposit. Some banks also offer the option of depositing money directly into an HSA account from your paycheck. Here is what you need to consider: Make sure the provider is FDIC-insured.

Debit Card 52

Debit Card IRS Accounts Non-Bank 52

PYMNTS

JANUARY 10, 2019

bank failed during the year, and the third time since the Federal Deposit Insurance Corp. FDIC) was founded in 1933 that an entire year went by without a bank going under. If a bank fails, the regulator looks to sell the assets to another bank and the FDIC assumes responsibility for the remaining assets.

FDIC 61

FDIC Direct Deposit Shutdown Governance 61