A bank account for immigrants which is pre-approved and ready to use before you arrive in the US. ZERO Fees - No overdraft fees. No NSFs. No Annual Fee. Ever. Get credit up to $5,000. No SSN Required. Deposits are FDIC insured up to $250K.
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This is definitely a great product amid the myriad of challenges it may face due to strong competition from incumbent too-big-to-fail banks and fintech-oriented BaaS-supported like Chime, Simple and the rest. Creativity will be key for a successful launch as well as a clever product strategy to keep the brand relevant over time. I wish you the best of success.
@performeando Thanks Armando. Appreciate the kind words.
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Hello, I am an F-1 student not used the bank yet but used stilt for small loans. You guys, they are the best product I've used as a student transitioning to OPT without savings. The interest rate was manageable and the payments were flexible once i started working. I am really grateful for this product, I wish many people knew about it!!
I remember how difficult it was to navigate the financial services system when I first moved to the US. This would have been so great to have back then. Congratulations!
Congrats on the launch, Rohit & Stilt team. As someone who recently relocated to the states, I can relate to many points Stilt solves here and in fact, I was searching for such a solution two months ago.
The closest I found was Nova Credit that helped me use my credit history built with credit card companies in India, and use that to apply for a credit card in the USA.
With bank accounts, Bank of America was able to set up and activate my bank account on day one of arrival. They don't request SSN to open the account, and few other banks don't expect SSN either. In fact, BofA can open bank accounts even with a business/tourist visa. Nova Credit also has a resource section, that lists banks who can open a bank account without SSN. The BofA debit card reached me in 5 days.
Technically, I was able to open my bank account and apply for a credit card using my foreign credit history on day one. By the end of week one, I had a fully functional bank account with a debit card and a credit card. By the end of month one, my credit history in the US was already building. I'm glad Stilt is making this process accessible!
I'd love to test your service and provide feedback too! Good luck!
Congratulations @rohitdotmittal on Stilt . But I still see the same eligibility that is mentioned on above comments
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Congratulations @rohitdotmittal . I used the service back in 2016 to refinance my education loan and had a pretty smooth experience. I am really excited to see the services being expanded :)
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Can I sign up from outside the USA as a non USA resident with a visa ?
@salim_ramees Yes, absolutely. You can sign up and we open the account for you. It will be activated immediately after you arrive in the US. We hope to make it convenient and simple to access all the services soon after you land.
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