Imagine if you couldn’t access essential financial services because you didn’t have a bank account. This is the reality for millions of people in the United States, many of whom are immigrants.
Waya is a company that’s working to change this. They’re providing financial services to the unbanked and underbanked, making it easier for them to gain financial inclusion.
This is important because it helps these people improve their quality of life and strengthens the overall economy.
Let’s say you’re an immigrant living in the US without a bank account. How do you manage your money?
If you’re like most people, you probably rely on alternative financial services, like check cashing stores and payday loans. This can be a costly and risky way to manage your finances, but it’s often the only option for people who don’t have access to traditional banking services.
Why are so many immigrants unbanked? There are a number of barriers, including:
– Lack of identification: Many immigrants don’t have a driver’s license or other forms of government-issued identification, which makes it difficult to open a bank account.
– Lack of funds: Many banks require a minimum deposit to open an account, which is out of reach for many immigrants.
– Language barriers: Some immigrants don’t speak English and feel uncomfortable dealing with banks.
– Fear of deportation: Some immigrants are afraid to open a bank account because they fear that their information will be shared with immigration officials and will be deported back to their home countries.
Read More: How To Make The Best Investment Opportunities in Kenya
When it comes to financial inclusion, immigrants face a lot of choices. You’ve probably heard about all the different services out there, like checking accounts, savings accounts, and money transfers. But it can take a lot of work to figure out which one is right for you.
Waya is assisting the under/unbanked people to attain greater financial stability and welfare by giving access to banking services such as savings and checking accounts, remittances, credit services, and mobile payments.
With the mobile payments feature, immigrants can pay and get paid on the go from any bank via ACH or wire transfer and send money to friends and family within the US, no matter what bank they use.
The app also provides clients with virtual and physical cards to navigate a robust range of financial services.
Waya is targeting to change the lives of over 10,000 immigrants in its first year, and building the foundation of tremendous success stories for the unbanked and underbanked immigrants in the United States.
The firm is licensed to offer digital banking services in the US through its banking partner, Lineage Bank, and is supported by world-class security to protect your money from even the most sophisticated fraud.
Read More: The Ultimate Guide to Understanding Your FICO Credit Score
Getting started with Waya is easy—all you need is a phone number and a few minutes of your time. Here’s how it works:
First, download the easy-to-use Waya app and create an account. Then, enter your email address, and phone number. After verification of your identity, you can proceed to enjoy a world of limitless capabilities.
You can start transferring money right away and take advantage of all the great features Waya has to offer.
So what are you waiting for? Download the Waya app today and start enjoying the benefits of financial inclusion.
Follow our Waya LinkedIn company profile and stay in touch with us for our business updates.