Zero wants to replace your bank. Serving initial customers this year, with increased capacity in 2018, Zero is launching the first banking experience that combines debit-style functionality with credit card rewards. Zero is powered by a mobile app and Zerocard, a Visa card that comes in four levels with varying rewards. The highest level card, Zerocard Carbon, gives customers unlimited cash back at a flat 3.0% rate on all spending regardless of category. Zero customers also earn a high annual percentage on their average daily net balance, competitive with the best interest rates on deposits paid by leading banks. Zero also eliminates all of the most annoying fees charged by traditional banks. Other features will include an Intelligent Advisor that forecasts balances, no ATM fees at more than 50,000 locations, and customer support via in-app live chat.
New Enterprise Associates
Silicon Valley Bank
New Enterprise Associates||undisclosed|