FACTS:
7.1 million US households have no bank accounts (unbanked).
22.9 million US households have bank accounts but use services such as check cashing and payday loan (underbanked).
Black and Latino households represent 64% of the country’s unbanked and 47% of its underbanked households.
40% of Black Adults and 30% of Hispanic Adults are Unbanked or Underbanked.
Black and Latino communities have higher concentrations of nontraditional banks and high-interest short-term solutions such as payday loans and high-fee check cashing services.
No bank account, no problem!
The Banxito card+ acts just like a checking account. With a Banxito card, you can manage your money and make it easy to do things like:
Direct deposit payroll or government benefits with routing and account numbers to provide to your employee or benefits office.
Shop online or in-store everywhere Mastercard® or Visa® Debit is accepted in the U.S.
Quickly send money or receive money from other Banxito cardholders.
Benefits of the Banxito Card+
No minimum balance
Account number & routing number for direct deposit
Very low maintenance fee
Very transparent – no surprise fees
Very easy to open
No overdrafts fees
Be in control of your payment
Banxito Card+ gives you the option to create different types of custom on-demand physical and virtual debit cards. Learn more…
Your Banxito Card+ puts you in control
GET STARTED IN 3 EASY STEPS
Download the MoneyBag iOS or Android App.
Register with email address and password.
Create the MoneyBag
THAT’S IT!
How do you put money in the MoneyBag?
Direct deposit
IRS refund checks
Transfer money from payment apps such as Cash App, Venmo or PayPal
ATM deposits
Bank transfer
Why should you create a Banxito Card+?
No more receiving paycheck via mail
You can direct-deposit your pay check or IRS check into your Banxito Card+ account.
No more paying high fees from alternative financial services, such as check-cashing services, payday loans and money orders
The Banxito Card+ will connect you with peer-to-peer lending platforms.
You can also create a peer-to-peer savings club.
No more bank fees and penalties (for using ATMs or for falling under the minimum required balance)
No minimum amount to create a Banxito Card+.
There is also no overdraft fees associated with the Banxito Card+.
No surprises
With your Banxito Card+, you always know exactly how much is spent (and can set a hard limit) and how much is being charged.