Serial entrepreneur and CEO of North Loop, Tahem Verma, introduces borderless bank for international students in the US with a new digital bank
In line with its goal of helping international students get the best experience when they come to study in the USA, Tahem Verma has launched a new digital bank. North Loop is focused on helping international students in the US with accessing financial services such as education loans and other such services.
The United States remains one of the leading destinations of students from different parts of the world, attracting millions of students yearly thanks to the quality education provided by most institutions in the country. One of the major challenges faced by most international students in the United States is the relative difficulty in accessing banking solutions. Consequently, many of such students are deprived of the benefits of such services, including education loans for the USA. Tahem Verma is, however, looking to change this narrative by breaking the barriers to banking in the US particularly as it relates to international students with the introduction of North Loop.
“Opening a bank account was really difficult when I came to the US, and the fees I had to pay to receive money from my family were outrageous. There are so many fees, and banks make it so difficult to open an account. It’s time that these global citizens got the bank account they deserve. Free, digital and focused on services that improve their lives,” said Taheem Verma.
The borderless banking solution aims to remove the stress of banking for those new to the US, offering instant wire transfers and easy money transfers. The service requires no wire or ATM fees, and clients are not required to maintain a minimum balance in their account. Each account also comes with insurance of up to $250,000 by the US government, ensuring the safety of depositors’ funds.
The banking solutions offered by North Loop are highlighted as follows:
- Sign up for an account in 5 minutes
- Sign up before coming to the US and receive a debit card on arrival
- No social security number needed
- FDIC Insured Account (up to $250,000)
- VISA Debit Card with Visa’s Zero Liability
- No Account Fees
- No Account Minimums
- Free Access to 32,000 ATMs
- Instant Wire Transfers
The simple banking app also allows users to easily keep track of their expenses, lock their card if missing and get instant notifications on the go. “Our goal is to provide the best banking experience globally with the highest levels of security and safety,” said Taheem.
North Loop has opened its waitlist, with an amazing 15,000 people already on the waitlist.
More information about North Loop Bank and its innovative banking solutions can be found on their website. North Loop is also available across several social media platforms, including Facebook, Twitter, and Instagram.