Checking Accounts
For individuals
Open a bank account in the United States and start saving dollars, apply to open an account from the palm of your hand, in minutes. move your money through checks, debit cards, credit cards, electronic checks and electronic transfers. It is compatible with Pipol Pay, PayPal, Payoneer, and other similar payment platforms.
Benefits
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.
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
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.
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
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.
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
Requirements
- Fill and sign FIRST FEDERAL SAVINGS products and service request form (provided by your Business Development Facilitator)
- Color scan of your valid government-issued identification document and passport
- Proof of address (utility bill)
- If you are a resident of the US, we require a color scan of your driver’s license and SSN
- Account holder’s information
Requirements
- Colour scan of your valid government issued identification document and passport
- Proof of address (utility bill.)
- Bank statements or proof of income
- Letter explaining the accountholder’s economic activity, monthly sales or income estimate and associated costs.
Note
This account is intended for entrepreneurs; individuals with small businesses that have not constituted a corporation and whose sales do not exceed USD 10,000 per month. USD 10,000.00
Requirements
- Fill and sign FIRST FEDERAL SAVINGS products and service request form (provided by your Business Development Facilitator)
- Color scan of your valid government-issued identification document and passport
- Proof of address (utility bill)
- If you are a resident of the US, we require a color scan of your driver’s license and SSN
- Account holder’s information
Requirements
- The minor must be between 13 and 17 years of age
- Birth certificate
- Parent or guardian must have a FIRST FEDERAL SAVINGS account. If the parent or guardian does not wish to open an account an exception must be requested through the BDF
- In case the minor is under custody of a legal guardian, a court order appointing the guarding is required.
- If the parent or the legal guardian wishes for the account to be managed by a third-party a letter authorizing that person must be presented.
Note
Some conditions apply, consult the minor account agreement available from the Virtual Banking under administration.