The card is tap-and-go and comes with no ATM fees in the country or overseas. The app allows users to lock the card if it is lost and is being designed to let users track their spending.
Earlier in February 2018, the neobank was granted an Australian Credit Licence (ACL) from the Australian Securities and Investments Commission (ASIC).
In addition, the Australian neobank has applied for an Australian Financial Services Licence (AFSL) from ASIC and to the Australian Prudential Regulation Authority for a banking licence that will allow Xinja to become a Restricted Authorised Deposit-taking Institution (RADI).
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