Unbanked releases FDIC-insured bank accounts for customers in 200+ countries
Unbanked’s global bank accounts are now live and available for residents in over 200 countries. This means that it is now simpler than ever to open a crypto-friendly bank account that is FDIC insured and transfer money internationally in a fast, secure way. International residents will get the security and flexibility of a traditional bank account with FDIC Insurance with the combined ability to seamlessly purchase cryptocurrencies like Bitcoin and Ethereum using the bank account balance.
Unbanked customers can now seamlessly purchase Bitcoin (BTC), Ethereum (ETH), and Ternio (TERN) utilizing their Bank Accounts — no hassles, quick and easy! Unlike other platforms that make you wait days or weeks for access to your cryptocurrency purchases, Unbanked offers near-instant settlement of the cryptocurrency purchases to your self-custodial wallet. Your keys, your crypto.
Anyone who’s ever had to send money abroad between different banks will tell you what a hassle it is. Here are some examples of the problems you can run into transferring internationally and how an Unbanked global bank account solves them.
It Takes Forever
When you transfer money to someone, they usually need it as soon as possible. Traditional bank transfers can take weeks to process, and faster premium services come with premium price tags for the privilege.
Large Transfer and Foreign Exchange Fees
Depending on your provider, the fees can be huge. When sending $1,000 to the United States, the expenses range with some showing a difference of almost $90 from cheapest to most expensive.
Multiple Parties Involved
When sending money between different banks and across borders, a lot of people become involved which can cause errors in your transaction and an increase in fees.
The risk of breaches is just another reason why international transfers can take so long. There are so many parties, custodians, and steps involved, and each step has the potential to become a point of vulnerability or failure. Most banks also do not look kindly on cryptocurrency transactions and can shut down your account.
“We could not be more excited about expanding our features and functionalities to our current customers and individuals all over the world,” said Unbanked co-founder Ian Kane. “Expanding our footprint into the global market is just the first step toward reaching our goal of empowering crypto-enthusiasts everywhere to have more control of their currency and their banking experience.”
Cryptocurrency provides the fastest, safest, and most efficient way to transfer money between parties, and Unbanked’s Global Bank Accounts give you the ability to transfer money almost anywhere. But that’s not all– We’ll even aggregate prices from multiple exchanges so you can rest assured you’re getting the best possible price. Sign up today and start banking without borders!
Here is the most recent list of countries that can begin the KYC process for the bank account. Please note, this list of countries may change over time.
|Åland Islands||Congo, Democratic Republic of the||Iceland||Mozambique||Seychelles|
|Albania||Cook Islands||India||Myanmar||Sierra Leone|
|American Samoa||Curaçao||Ireland||Nauru||Sint Maarten (Dutch part)|
|Andorra||Cyprus||Isle of Man||Nepal||Slovakia|
|Anguilla||Denmark||Italy||New Caledonia||Solomon Islands|
|Antigua and Barbuda||Djibouti||Jamaica||Nicaragua||Somalia|
|Armenia||Ecuador||Jersey||Niue||South Georgia and the South Sandwich Islands|
|Australia||El Salvador||Kazakhstan||Northern Mariana Islands||Sri Lanka|
|Austria||Equatorial Guinea||Kenya||North Macedonia||Suriname|
|Azerbaijan||Eritrea||Kiribati||Norway||Svalbard and Jan Mayen|
|Bahamas||Estonia||Korea, Republic of||Oman||Switzerland|
|Bahrain||Eswatini||Kosovo||Pakistan||Taiwan, Province of China|
|Barbados||Falkland Islands (Malvinas)||Lao People’s Democratic Republic||Palestine, State of||Tanzania, United Republic of|
|Belize||Fiji||Lebanon||Papua New Guinea||Timor-Leste|
|Bonaire, Sint Eustatius and Saba||French Polynesia||Lithuania||Pitcairn||Trinidad and Tobago|
|Bosnia and Herzegovina||French Southern Territories||Luxembourg||Poland||Tunisia|
|Bouvet Island||Gambia||Madagascar||Puerto Rico||Turkmenistan|
|Brazil||Georgia||Malawi||Qatar||Turks and Caicos Islands|
|British Indian Ocean Territory||Germany||Malaysia||Réunion||Tuvalu|
|Bulgaria||Gibraltar||Mali||Russian Federation||United Arab Emirates|
|Burkina Faso||Greece||Malta||Rwanda||United Kingdom of Great Britain and Northern Ireland|
|Burundi||Greenland||Marshall Islands||Saint Barthélemy||United States Minor Outlying Islands|
|Cabo Verde||Grenada||Martinique||Saint Helena, Ascension and Tristan da Cunha||United States of America|
|Cambodia||Guadeloupe||Mauritania||Saint Kitts and Nevis||Uruguay|
|Canada||Guatemala||Mayotte||Saint Martin (French part)||Vanuatu|
|Cayman Islands||Guernsey||Mexico||Saint Pierre and Miquelon||Venezuela (Bolivarian Republic of)|
|Central African Republic||Guinea||Micronesia (Federated States of)||Saint Vincent and the Grenadines||Viet Nam|
|Chad||Guinea-Bissau||Moldova, Republic of||Samoa||Virgin Islands (British)|
|China||Guyana||Monaco||San Marino||Virgin Islands (U.S.)|
|Cocos (Keeling) Islands||Haiti||Mongolia||Sao Tome and Principe||Wallis and Futuna|
|Colombia||Heard Island and McDonald Islands||Montenegro||Saudi Arabia||Western Sahara|
*FDIC Insured bank account provided by partner bank and not Unbanked.com