Bridge
A fee-free mobile banking platform paving the way to financial stability
- Company
- Financial Inclusion
- America
- 2020
- Active
The challenge
Over 63 million Americans lack access to affordable banking services. Options for low-income customers are limited to predatory financial services with high fee structures, such as prepaid debit cards, or cashing their paychecks at a local grocery store or big box store. Fees can cost customers up to $100 per month to spend, deposit, and hold their money.
The innovation
Bridge’s free, nationwide mobile-banking services remove the everyday barriers unbanked Americans face to accessing, spending, and saving their money. Bridge customers receive an FDIC-insured checking account and debit card with no minimum balance and no fees for account maintenance, check deposits, or overdraft. Customers can withdraw cash fee-free from Bridge’s 70,000 in-network ATMs at convenient locations.