Neobanks serve as rapid market shapers because customers increasingly seek modern digital-first banking services that meet their individual needs. The banking industry will benefit from 400 million projected users by 2028 (Statista) so the time has never been better to influence banking development. The right strategy will lead to substantial benefits when entering the market in 2025. MAJORITY operates as a mobile banking service from the United States which focuses on serving migrant community needs. The platform unites three essential services for personal banking which are financial management with international payments alongside messaging systems. The mobile banking company Majority completed its fourth financing round during the last two years as it founded its first physical meeting venue in Laredo Texas for its U.S. migrant client base. The first international digital financial service company MAJORITY focuses exclusively on serving migrants worldwide. For $5.99 members of MAJORITY receive an FDIC-insured account together with a VISA® debit card that enables them to use more than 50,000 ATMs throughout North America. As well as remittance and international calling services with native language advisors and community meet-up spaces with local discounts and events.
A Mission-driven Neobank for immigrants
MAJORITY accounts do not require minimum balances and the service protects members from paying overdraft fees. The banking and telecommunication experts at MAJORITY established their neobank operations in Sweden to serve global immigrant communities in 2005. The main operational base of MAJORITY exists in Miami, Florida.
The neobank industry has experienced both company mergers and bankruptcies since the technology sector entered a market downturn period.
The neobank Majority has maintained profitability and secured funding during difficult times because of its focus on mission-driven goals and subscription-based operations according to CEO Magnus Larsson. The new office places the Majority near The Gateway to the Americas International Bridge over the Rio Grande according to Magnus Larsson who serves as both founder and CEO of the company. The corporation operates physical locations throughout Florida with existing branches in Miami along with Hialeah Orlando and Houston. The new company from 2019 provides migrants’ bank accounts with debit cards and community deals as well as fee-free money transfers and discounted phone calls through its $5.99 monthly membership fee. The account service from the Majority accepts international government IDs and U.S. residence proof instead of Social Security numbers and U.S. documentation while eliminating all fees and balance requirements. Through the Advisor Program of the Majority, members gain access to over 250 trained support staff across the country who share immigrant backgrounds.
Eligibility and availability
MAJORITY provides its banking services to all United States residents at present. An international government-issued ID including a passport or matrícula consular or driver’s license functions as the sole requirement to open an account at MAJORITY instead of needing a Social Security Number (SSN). The international mobile phone top-up service of MAJORITY functions across Cuba as well as Venezuela Mexico and other countries worldwide. Customers can receive promotional deals and perform secure free top-up deliveries instantly through this system.
Free and low-cost international calling
You will save money on every international telephone call you make. Members obtain free phone communication with Mexico, Colombia, Spain, Canada and 20 additional nations and enjoy the lowest possible rates when phoning Cuba along with Venezuela and numerous other locations. Through MAJORITY you can place phone calls to any device that accepts calls without needing internet access.
Membership details
The MAJORITY service functions as a membership platform with a new user benefit of a 30-day free trial period. The membership fee starts after the trial ends and includes unrestricted access to all services without any concealed fees.
Customer support
You can reach multilingual customer support at MAJORITY for assistance throughout your signup process and while using the app. Support queries can be directed to support@majority.com and +1 (855) 553-3388 represents the telephone number for customer service. citeturn0search5
Important considerations
Your MAJORITY deposits receive FDIC insurance coverage of up to $250,000 through the banking system operated by Axiom Bank, N.A., Member FDIC. A Social Security Number is not required to open your account at MAJORITY thus extending account access to wider demographics. You can successfully integrate MAJORITY into your finances through the provided guide to access its specialized services for migrants.
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