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3 Ways Financial Institutions Can Step Up for Underserved Communities

Perficient

Greenwood operates completely online, but they partner with FDIC-insured banks and are part of a global ATM network that allows members to use more than 100,000 ATMs fee-free when they need to withdraw and deposit physical cash and checks.

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FDIC: Share of Unbanked Americans Reaches Record Low in 2019

ABA Community Banking

households that are unbanked continued falling in 2019, reaching 5.4%, the lowest rate yet recorded in a biennial FDIC report. The post FDIC: Share of Unbanked Americans Reaches Record Low in 2019 appeared first on ABA Banking Journal. The share of U.S.

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Digital Bank N26 Offers New Perk Partners To US Debit Card Users

PYMNTS

Cash withdrawals are free at more than 55,000 Allpoint designated ATMs and customers also get two free out-of-network withdrawals per month. million customers in 25 markets in Europe. N26 partners with Axos Bank to offer a Visa debit card and FDIC-insured checking account. N26 started rolling out in the U.S.

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SoFi Officially Files For A Bank Charter Of Its Own

PYMNTS

Which means it really doesn’t come as all that huge a surprise that as of June 6th, SoFi had applied for a new (de novo) bank charter according to the FDIC. Instead, SoFi as a bank will exist so it can “provide its customers an FDIC insured NOW account and a credit card product. SoFi has confirmed the news.

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How Cross River Bank Keeps Cash Flowing

PYMNTS

This includes checks, brick-and-mortar bank branches, ATM cards and, yes, cash. The ATM Real Estate Advantage. Cross River teamed up with Mastercard in 2017 to launch Mastercard Cash Pick-Up, a disbursement service that delivers cash on behalf of businesses to vetted recipients through a network of ATMs. Postal Service (USPS).

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Zero Launches Debit-Like Credit Card, Raises $20M

PYMNTS

The company plans to market its card to credit-wary millennials who want to avoid getting into a deep debt cycle, but who also want the incentives of owning a credit card. However, it is combined with an FDIC-backed checking account called Zero Checking. Zerocard doesn’t charge any annual fees and doesn’t add ATM fees.

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Digital Banking Partnerships Gain Traction in the US

PYMNTS

In the continued linkups between banks and FinTech upstarts, new markets beckon across various borders. Among the latest examples, N26 , which is a digital-only bank based in Europe, has entered the US market through partnership with Axos Bank in order to offer FDIC insured accounts.