ChowBanQ: A private online banking at it's best.

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Dec 12, 2023, 08:47 ET

MANHATTAN, N.Y., Dec. 12, 2023 /PRNewswire/ -- As a fintech, ChowBanQ is bucking the trend by offering private banking services to every single one of its registered clients on it's digital platform.

The idea is, you could be a teacher, a business person, a government employee, or a state check recipient, you really don't need to put your passion on hold because of a quick trip to a bank lobby. ChowBanQ will execute a payment, a wire transfer or a direct deposit for you.

All you need do is, send an instructive email - through your account's messaging system, and ChowBanQ's NexorOne banking software will carry out your order, then notify you within a secure environment that only you - the client, can access.

Started as an online trade and payment facilitating bucket at the height of the pandemic in Brooklyn, New York City, Smithies ChowBanQ seems like a cross between Venmo, Paypal, N26, Wise, Remitly, Chime and NorthBank. It is in fact a fintech and a neobank with the capability of a traditional bank.

As a second chance bank, ChowBanQ not only offers huge benefits like a yearly above market rate interest on term deposits and savings accounts, it operates in a money market environment with a depository that is backed by the Bank of America, Member FDIC.

Buyers and merchants could trade and settle payments in-house - between account buckets, which help reduce cost and time of transfer as well as verifying cash availability from the buyer's bucket. They could also tap ChowBanQ to make payment(s) and transfers from their bucket, into Venmo, Paypal and other banks on their behalf.

All are welcomed to sign up at https://chowbanq.com for a taste of this private banking experience.

SOURCE ChowBanQ