Zolve launches Neobank to bank facilities for American immigrants on arrival
Zolve, the first neobank to provide global access to financial services, has launched a unique financial product that will offer American immigrants around the world the option of obtaining an FDIC-insured U.S. bank account, credit card and debit card. when entering the United States – all without a social security number, in partnership with the Community Federal Savings Bank (CFSB).
With users from Australia, Canada, Germany, India and the UK on their waiting lists, Zolve launched in beta in August 2021 and has since registered over 43,000 registrations.
Customers can apply online in less than 10 minutes by providing proof of a valid visa and passport. Zolve products include:
Zolve Credit Card (powered by Mastercard): an unsecured high limit credit card with 0% APR for the first six months *, no administration fees and no overseas transaction fees.
Zolve Deposit Account: A deposit account, FDIC insured up to $ 250,000, with no minimum balance requirement and no social security number required.
Zolve Banking Mobile App: On-the-go mobile app integrated with Apple Pay, Google Pay and Venmo that provides customers with payment alerts, reminders, access to direct deposits and other financial tools and educational materials for building credit responsible.
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“We created Zolve to level the playing field for international students and professionals who want to come to the United States by providing them with the tools they need to embark on their American dream,” said Raghunandan G (Raghu), founder and CEO of Zolve. “Before Zolve, American immigrants weren’t able to get a bank account or credit card without waiting months, sometimes years, to establish credit or get a Social Security number. Our mission is to create a financial world beyond borders with equal access to high quality banking products for global citizens of all countries. “