Choice Bank

Choice Bank provides banking-as-a-service sponsorship and banking services to fintech partners, and it also offers business accounts. Its fintech activity runs through the Choice Fin division, a unit of Choice Financial Group rather than a separately licensed bank. The bank is also known as Choice Fin and Choice Financial Group.

Services

Two service lines are listed: business accounts and bank partnerships. The partnership side lets fintech companies build products on a licensed bank's infrastructure, while the account side serves ordinary businesses.

Target clients

Choice Bank states that it serves fintech companies and businesses or enterprises. These are published target segments, so they are not a promise that any applicant will be approved, and programme terms are agreed individually.

Deposit protection

The bank states FDIC membership on its website. The coverage applies only to eligible bank deposits; it does not extend to every product or to investments, and it does not cover the risks of a non-bank intermediary that may sit between the end customer and the bank.

Who it suits

The offer suits US fintechs that need a sponsor bank and companies looking for a business account. Fees and programme requirements are not described and should be requested directly.