Bambu is a mobile app offering a free checking bank account to deposit, withdraw and send money in the U.S. and Latin America. Once you have registered and opened your account, you can quickly transfer money and pay bills for relatives throughout the globe in just one click.
What Is Bambu?
Bambu was founded to promote financial inclusion to the unbanked. Using only your mobile app, they want to make it convenient, safe, and cost-effective for you to manage your finances.
Bambu defines itself as a bank without boundaries. You can open an account with Bambu no matter your immigration status, as you only need your foreign ID, an SSN is not required.
After you register, you will be able to deposit checks directly from your mobile phone. To help you cross borders, you can top up a U.S. or LATAM phone, pay domestic or international bills for your friends or family and send money locally in the U.S. for free or to Latin America for a small fee. You will also get a free visa card to use against the deposits of your bank account.
How Does Bambu Work?
Registering for Bambu and opening your account is simple and straightforward:
- Download the MyBambu app from your phone in Google Play or Apple Store.
- Follow the instructions to open your free bank account.
- Start enjoying the benefits fo Bambu
What Can You Do With The Mobile App?
Bambu app gives you access to convenient, reliable, and affordable financial services, like international money transfers, domestic and international bill payment, domestic and international phone top-up, peer to peer transfers, a Bambu VISA card, remote check capture, and adding cash to your Bambu account at retail stores. Some of the things you can do in the app include:
- Access Your Bank Account: Open a bank account with no monthly fees, no credit check, and no overdraft fees. Your funds are insured by the FDIC.
- Direct Deposit: Use mobile check deposit to deposit checks instantly.
- Link A Bank Account: Transfer funds easily by connecting an external bank account.
- International Money Transfers: Send money to family and friends at over 40,000 cash-out locations in Latin America.
- Bill-Pay: Access to over 8,000 bill payment providers in the U.S and Latin America.
- Phone Top-Up: Top-up services for all major carriers in the U.S and Latin America.
- Send and Request Money: Send or request money from other Bambu users for free. (Peer to peer transfers).
- Bambu Visa Card: A physical or virtual card to use anywhere where VISA is accepted.
- Add Cash: Access over 120,000 cash-in retail stores in the U.S to add cash to your account.
With no monthly fees and free account setup and regardless of your immigration status, Bambu makes it easier to meet your financial needs in the U.S. or Latin America.