Why You Will Love Our Product?
Enjoy features that provide solution to all your financial problems
Pool-in Funds & Save for Future
Inchbank is by far the most innovative way to pool in funds and save money with your friends and family. We aim to make money digitally accessible and combine it with the power of community so people can team up and pool in to achieve something big, or simply just save up for the future.
Salary Advance
We take pride in being the first ever bank in Canada’s history that offers short-term and Interest-free payday loans.
Once you submit an online application, our support team performs a super quick verification. Upon its completion, the loan will be transferred to your bank account on the same day.
On top of that, the more frequently you pay back your loan on time, the more credibility our system develops for your profile by giving trust/reward points. Hence, every time you come back for salary advance, your request will be prioritized on the basis of trust points you have gathered from previous experiences with us. Our primary objective is to develop a long-term relationship with our customers so they can count on us, in their hour of need.
Smart Cards
Inchbank will help you keep your money at your fingertips and ‘Pay On The Go‘ while keeping it safe in a card that only you can use.
Whether you would like to share money with loved ones, shop online or simply want to stay within budget; our seamless app integrations enable you to load the card and use it however you want.
Enjoy having one wallet for all your day-to-day needs without any hassle of carrying cash with you. Depending on your usage preferences, we customized four different cards to help you stay on top of your finances
- Halal Card
- Kosher Card
- Student Card
- Family Card
Improved Credit Visibility
PERC Canada estimates that nearly 6 million Canadians are “credit invisible.” which means they either have no account payment history in their credit reports (normally called as “no files”) or have very inadequate data in their credit reports (termed as “thin files”).
Having said that, we believe that our FinTech platform does have the potential to transform the situation. When a safe, inclusive, and trustworthy technology merge with your own community and forms a financial system, you will feel encouraged and motivated to accomplish your financial goals. Managing your expenses in a better way, spending mindfully and saving up for the future eventually help you improve your credit score
Moreover, we will be reporting the credit history to the consumer reporting agencies i.e., TransUnion, Equifax, etc. which ultimately improves your credit visibility and you get to enjoy a better financial future
Frequently Asked Questions
Any person with a bank account can come forward to create a group by adding people who are willing to pool in together or join an already existing saving group and pool in funds.
- At the start of the cycle, each participant of the group equally contributes an amount to the pool and by end of each cycle, one participant gets the lump sum amount.
- The cycle repeats for the second phase and onwards until all the participants of the group receive a payout of the lump sum amount.
- Once all the participants receive their payout, the series may dismiss here or can be renewed again depending on the willingness of each member.
We offer interest free payday loans. That's why we call it salary advance; because it actually work like getting your salary in advance as a loan. And you can repay it once you receive your actual salary.
Inch bank offers a free yet completely functional digital account, tailored to meet customers' requirements without any extra charges or hassle of going out for verification purposes. The account enables you to apply for payday loans, pool in funds, or simply just share money with your family and friends within a few clicks
You can explore the app without verifying the account but in order to use our premium features you need to verify your account by uploading your ID, Sin, T4 document and paystub.
The procedure is pretty simple:
- Fill out online application
- Submit the required documents
- Receive loan immediately upon approval
Once you submit online application, it usually takes us 24-48 hours to perform a soft check. After that, money will be transferred to your account instantly.
Each card is designed to facilitate a particular domain. The halal card is customized for interest-free transactions. The kosher card is tailored to the Jewish framework. The student card is personalized for students to stay within budget. In comparison, the family card caters to families by enabling them to share money with the minimum exchange rates and offering various discounts.
Ready to be Financially Independent?
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