CoinOut enables customers to earn and save funds in a variety of ways. We’ve seen strong momentum on our cash back product since our airing on Shark Tank that has seen more than 200,000 transactions. Customers can simply upload a picture of their receipt and earn a small amount of cash back.
One learning from these transactions that has been particularly interesting is who our customers choose to bank with.
If one were to guess, you’d think it would be a mix of Chase, Citi, BoA and the other large banks. However, we recently noticed an upstart bank repeatedly showed up in our data and took home the TOP SPOT of bank used across our user base.
That bank is Chime, a bank startup who offers banking services through The Bancorp Bank. Over 20% of our bank transfers have been to users with a Chime Bank account. That number is pretty astounding given our customers are evenly distributed through the US (and, now, a sizable sample size).
Chime offers a bank account with a Chime Visa Debit Card, Spending Account and option savings account. Their app is pretty great, too.
Kudos to you, Chime!
