ChowBanQ is dedicated to sustainability, considering itself a green bank and one of its main assets is that every online banking account is a bucket. These buckets can be used to make payments for goods and services between accounts, and in some cases, between banks. Once a bucket is depleted, it can easily be filled and refilled by the account holder. Customers can also place their buckets on an interest-generating term deposit or a savings list, which earns interest at five times the national savings rate.
Started as an online trade and payment facilitating bucket, ChowBanQ became a private bank and it offers private banking services to all registered clients on its digital platform, such as payments, wire transfers or direct deposit. Thus, it is a fintech and a neobank with the capability of a traditional bank.
Customers can send an instructive email through their account's messaging system. ChowBanQ's NexorOne banking software will carry out the order, and then notify the client within a secure environment that only they can access. Moreover, the company offers a series of benefits such as a yearly above-market rate interest on term deposits and savings accounts, operating in a money market environment with a depository backed by the Bank of America, Member FDIC.
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