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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. Education and advocacy.

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Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

The online-only bank lets customers deposit and save money on its platform and spend using a no-fee debit card. Accounts are FDIC-insured through a partnership with Bancorp Bank. Chime earns revenue from debit card transaction fees paid by merchants. As COVID-19 hit, Chime’s users were able to tap into $200 cash advances.

article thumbnail

Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

The online-only bank lets customers deposit and save money on its platform and spend using a no-fee debit card. Accounts are FDIC-insured through a partnership with Bancorp Bank. Chime earns revenue from debit card transaction fees paid by merchants. As COVID-19 hit, Chime’s users were able to tap into $200 cash advances.