ZenBanx

ZenBanx is a mobile banking technology company offering a multi-currency bank account that is fully FDIC-insured (through an alliance with WSFS Financial Corporation, a Delaware-based bank with more than $4.9 billion in assets). Consumers can sign up for and manage a digital-only account through a mobile phone app. Because the account earns interest and is very functional for frequent saving and spending, it is also an option for consumers looking for a primary savings or checking account. The account comes with a debit card to withdraw cash at participating ATMs and allows for electronic transfers to and from linked accounts.

One of the key features of its account is the ability to transfer money domestically and internationally, as well as exchange foreign currencies, at very low costs. With ZenBanx, customers can hold up to five different currencies in their account, including U.S. dollars, Canadian dollars, British Pounds, Euros, Australian dollars, Singapore dollars, Hong Kong dollars, Japanese Yen, and Indian Rupees.

International students studying in the United States, foreign professionals, and habitual travelers are some of the types of consumers for which a ZenBanx account will be particularly valuable, as its offering can be more tailored than standard payment options. ZenBanx was founded in 2012 by Arkadi Kuhlmann (who previously launched ING Direct Canada) and has 90 employees across three offices located in Canada and the U.S.

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