New Delhi, Sep 22 (PTI) Zolve, a neobank, on Wednesday announced the launch of financial products which provide bank account, credit card and debit card to people upon entering the US without a social security number.

Federal Deposit Insurance Corporation (FDIC) insured bank accounts and other services are being provided by Community Federal Savings Bank (CFSB) to immigrants who are customers of Zolve.

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Zolve has created the opportunity for US immigrants to start building their financial future in America from the moment they arrive, a statement said.

To begin with, the product suits include mobile app, Mastercard powered credit card, FDIC insured up to USD 250,000, with no minimum balance requirements and no social security number required to apply, it said.

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Zolve launched in beta in August 2021 and has since seen over 42,000 registered customers.

"We created Zolve to level the playing field for international students and working professionals looking to come to the United States by providing them with the toolset they need to embark on their American dream...

"Our mission is to create a financial world beyond borders with equal access to high-quality banking products for global citizens from every country," said Zolve founder CEO Raghunandan G.

Before Zolve, US immigrants were not able to obtain a bank account or credit card without waiting months, sometimes years, to establish credit or obtain a social security number, he said.

Going forward, the company is looking to expand its reach to other countries like Australia, Canada, Germany, and the UK, he added.

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