Passport
Passport number and country of issuance — a potential identification pathway for a non-U.S. person, subject to the bank's program.
U.S. checking and savings, designed to open online.
Our goal: let eligible international students apply for a U.S. checking account completely online — from wherever they are — with a passport, SSN or ITIN, as the partner bank's identity program allows.
Planned · sponsor bank selection open
Simba MoneyConcept
Student checking ••2048
$4,280.50
- Account holder
- Amina K.
- Held at
- Partner bank (to be selected)
- Opened
- Online, before arrival
- Direct depositOn-campus job · Fri+$612.40
- RentACH · Oct 1−$950.00
- Tuition paymentYour University · Sep 28−$1,500.00
§ 01 Identity pathwayCustomer Identification Program
Passport, SSN or ITIN — the bank decides how.
Students may arrive without a Social Security number. We're designing onboarding around documents they may have — inside the identity program of the partner bank.
SSN
For students who already hold a Social Security number, for example through on-campus employment.
ITIN
An Individual Taxpayer Identification Number, issued by the IRS to people who need a U.S. taxpayer number for federal tax purposes but are not eligible for an SSN.
Result
Identity verified by the partner bank — not by us alone.
Verification, screening and approval decisions sit with the bank's program. Simba Money provides the experience and supports data collection as delegated.
Under the federal Customer Identification Program rule (31 CFR 1020.220), a bank may verify a non-U.S. person using a taxpayer identification number, a passport number and country of issuance, an alien identification card number, or another government-issued document evidencing nationality or residence and bearing a photograph. Each bank sets its own documentation and verification procedures; our onboarding will follow the selected partner's program. Eligibility is not guaranteed.
§ 02 Planned account features
Everything a student account should do from week one.
Final features, limits and fees will be set by the partner bank and disclosed before any account is offered.
U.S. checking
Everyday spending, bill payments and transfers from a U.S. account with routing and account numbers.
Savings
Separate savings with goals for next semester's tuition, deposits and the things that come up.
Direct deposit
Receive on-campus wages and, later, OPT payroll — with account details ready to share.
ACH transfers
Pay rent and bills and move money between U.S. accounts, subject to bank limits.
Domestic wires
Same-day transfers for larger payments such as housing deposits, as the bank's program allows.
Alerts & controls
Real-time notifications, spending insights and security controls inside the app.
§ 03 For sponsor banks
Built inside your program, not around it.
We expect the bank's policies to govern the account program. Our job is to make those requirements work well for students — and to document who does what.
- Customer identification & due diligence. Onboarding flows built to the bank's CIP and KYC requirements, with clear escalation paths.
- Sanctions screening. Screening at onboarding and on activity, aligned to OFAC requirements and the bank's procedures.
- Monitoring & reporting. Transaction monitoring support and timely escalation into the bank's BSA/AML program.
- Electronic fund transfers. Error resolution, disclosures and liability limits under Regulation E.
- Deposit disclosures. Account terms and Truth in Savings (Regulation DD) disclosures supplied by the bank.
- Complaints & oversight. Complaint handling, reporting and audit access consistent with interagency third-party risk guidance.
§ 04 Deposit insurance
How we will talk about FDIC insurance.
Today, no Simba Money product is FDIC-insured, and we make no such claim. Once a partner bank is in place, every reference to deposit insurance will:
- Name the insured bank that holds the deposits
- Make clear that Simba Money is not a bank and that FDIC insurance covers only the failure of the insured bank
- Follow the FDIC's rules on misrepresentation of insured status (12 CFR Part 328, Subpart B) and the bank's own guidance
- Avoid implying coverage for anything other than eligible deposits held at that bank
Now selecting launch partners
Build the U.S. student platform with us.
We're speaking with sponsor banks, card and payment providers, universities and specialist service partners. Tell us what you bring — we'll show you exactly where it fits.