As the United States is known as the land of the free with most being made up of immigrants it has never been able to give the immigrants the reputable status that they always wanted and now with trump’s remarks theres no way we can say it’s the land of free. These immigrants are now helping the US banks.
The majority has been servicing immigrants in Houston since April as part of an invite-only beta program, according to Business Insider. Through a partnership with Ohio-based Sutton Bank, customers receive a Federal Deposit Insurance Corp.-insured bank account and a Visa prepaid card. Customers can also access 50,000 in-network ATMs across the U.S.
The bank, which is funded by Swedish technology company Rebtel, said it expects the banking service will be available nationwide in a couple of months. Majority CEO Magnus Larsson, who also heads Rebtel, said the bank aims to solve problems many immigrants face in the U.S. "You need a bank account. You need to be able to send money home. You need to be able to call back home," he told American Banker. "I think we're building a challenger bank for people who really need a bank."
The bank has recruited 200 ambassadors to help with the nationwide rollout, it said. The ambassadors will welcome new customers and help with translations. U.K.-based TransferWise also entered the U.S. banking market last month. The banking sector needs the consumer to avail of its services as they struggle to stay financially viable.
Tags : United States, immigrants , Business Insider, Swedish technology, ambassadors , nationwide ,