In a first, Customers Bank, a subsidiary of Customers Bancorp. Inc., announced the first-phase launch of it’s branchless, purely mobile and tablet based banking platform, BankMobile. Launched officially in a press event held on January 14th at The Harvard Club New York, BankMobile is also the first ‘fee-free’, fully functional banking app.
Speaking at the event, Lavleen Sidhu, Chief Strategy & Marketing Officer, BankMobile said, “We are thrilled to officially launch BankMobile.” She further asserted, “We are here to revolutionise banking, to help those who have often been victimised by the industry through excessive fees and we will always be a bank built by, and for, the people.”
True to its motto, BankMobile waives off any additional fee applicable on traditional banking services. Loans are charged, but the rates are substantially lower than market standards—thanks to its innovative branch-free structure that levies lower operating costs. Moreover, to further grant financial cognizance to its consumers, BankMobile also offers access to a personal banker and free financial counsel.
BankMobile sports the following three features for current use: free checking account, savings account and unsecured line of credit of up to $5,000. However, the bank will continue working toward their core philosophy of delivering economical and effortless banking solutions. The latest item on their agenda is the app’s second phase, which is due to release shortly.
Phase two of BankMobile is expected to include text and video customer service chats, pre-approved auto loans and the ability to search and buy cars nearby.
BankMobile further entails the following unique propositions, which Director Bhanu Choudhrie, along with all those at Customers Bank, hope would transform the banking industry and make it more customer-centric:
• Banking experience, which fits the palm of the hand along with free financial advices from professionals.
• High rates of interest on saving accounts that are at least 0.25% higher than those offered by the four largest banks in the United States.
• Access to a nationwide network of 55,000 fee-free ATMs, and reimburse the customers the cost of ATM surcharges.
• Fee-Free banking and a freedom from overdraft fees.
Speaking at the event, Lavleen Sidhu, Chief Strategy & Marketing Officer, BankMobile said, “We are thrilled to officially launch BankMobile.” She further asserted, “We are here to revolutionise banking, to help those who have often been victimised by the industry through excessive fees and we will always be a bank built by, and for, the people.”
True to its motto, BankMobile waives off any additional fee applicable on traditional banking services. Loans are charged, but the rates are substantially lower than market standards—thanks to its innovative branch-free structure that levies lower operating costs. Moreover, to further grant financial cognizance to its consumers, BankMobile also offers access to a personal banker and free financial counsel.
BankMobile sports the following three features for current use: free checking account, savings account and unsecured line of credit of up to $5,000. However, the bank will continue working toward their core philosophy of delivering economical and effortless banking solutions. The latest item on their agenda is the app’s second phase, which is due to release shortly.
Phase two of BankMobile is expected to include text and video customer service chats, pre-approved auto loans and the ability to search and buy cars nearby.
BankMobile further entails the following unique propositions, which Director Bhanu Choudhrie, along with all those at Customers Bank, hope would transform the banking industry and make it more customer-centric:
• Banking experience, which fits the palm of the hand along with free financial advices from professionals.
• High rates of interest on saving accounts that are at least 0.25% higher than those offered by the four largest banks in the United States.
• Access to a nationwide network of 55,000 fee-free ATMs, and reimburse the customers the cost of ATM surcharges.
• Fee-Free banking and a freedom from overdraft fees.
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