Project Description

Checking Accounts

For individuals

Personal checking accounts with highly competitive interest rates that increase as your account balance increases. This will allow opportunities for greater yield on your demand deposits. The account will begin generating interest when your balance reaches $25,000. However, there are no fees associated with lower balances.

Requirements

Benefits

  • Interest: Interest yield will be greater as your account balance increases

  • Transfers: Transfer funds within your own accounts as well as to other banks

  • Schedule:National and International service payments (Restrictions may apply)

  • Financial instruments: Checks, Debit Cards, E-checks, and wire transfers

  • Tailor-made customer service: We offer a personalized service for quick, direct, personalized solutions to any concerns you might have

INDIVIDUAL PROFESSIONAL ACCOUNTS

Supporting you along the way

We now offer accounts for professional individuals and entrepreneurs. Through this account, you can receive payments for your services or sales of up to $10,000. If your monthly income is over $10,000, you may need to create a company and open an account for it.

Requirements

Benefits

  • The account may be opened with a primary user and an authorized user
  • You may request a debit card and secured credit card

  • You will have access to the Pipol Pay platform so you can send and receive funds

  • Same transaction fees as personal checking accounts

BENEFICIARY ACCOUNTS

Immediate distribution of funds

This account is a traditional checking account with the condition that, when the account holder is deceased, funds will be distributed immediately and equally amongst the authorized beneficiaries without having to wait for a court order (Probate).

While the primary user is alive, the beneficiaries do not hold any rights to the account and cannot access it. They will not have access to any information on funds deposited in the account. The account consists only of a primary user with no authorized users.

Requirements

Benefits:

  • No need for additional documents e.g. a Trust

  • No additional costs
  • Confidential. Does not require you to give notice to beneficiaries that the account exists

  • No additional ID requirements

  • Distribution of funds is automatic, and no court order is required

  • In case of the account holder’s death, funds are automatically and quickly disbursed amongst beneficiaries

  • The primary user can rest assured that their wishes will be managed by the financial institution

ACCOUNTS FOR MINORS

Teach your children about financial responsibility

We offer our clients accounts tailored to individuals between the ages of 13 and 17. Through this account, users can request debit cards, credit cards, and the parent or legal guardian is not required to be the primary account holder.

Requirements

Benefits

  • Easily transfer funds from any FACEBANK account to you children’s account, the funds will be immediately available to use with a debit card

  • Access to cash anywhere in the world using a Mastercard ATM

  • Credit cards report to US credit bureaus. This allows the user to start building credit without needing a social security number