Credit Sesame launches digital banking service
Credit Sesame, a company that helps consumers manage their credit, is launching a digital banking service called Sesame Cash, offering consumers bank accounts that charge no overdraft, minimum balance or monthly service fees.
The service will offer customers a debit Mastercard, an FDIC-insured account with Community Federal Savings Bank, free access to 55,000 ATMs and advanced access to paychecks and cash rewards if they improve credit scores.
"Through the use of advanced machine learning and AI, we've helped millions of consumers improve and manage their credit," Adrian Nazari, founder and CEO of Credit Sesame, said in a company release. "However we identified the disconnect between consumer's cash and credit - how much cash you have, and how and when you use your cash has an impact on your credit health."
Credit Sesame will introduce several additional services over the next few months, including a bill-paying service, rewards features, budgeting tools and other features.
Cover image: Credit Sesame