What is Movenbank?

Movenbank is not your typical bank. We work with banking and payments partners, mobile manufacturers, consumer credit groups, social media partners, merchants and many others to understand how banking fits into the lives of individuals.

So are we a bank or aren’t we?

The answer is that we provide banking and financial services, and we work with a number of banks and partners to do this. So you get the protection and security of a bank, but none of the frustrating baggage. We’re changing the definition of what a bank does and how it works with its customers. So, while we’re not set up like a typical bank, we’ll provide all the products, services, and features of a typical bank and will even create some much needed innovations of our own. All for the benefit of you, our customer.

Who is Movenbank?

Movenbank is founded by top industry experts from deep within the banking industry, supported by world-class technologists and user experience specialists.

We’re based in New York however our founding team is from all across the globe. We have team members from the United States, Singapore, Australia, and the UK. This diversity gives us a unique global perspective on how banking works around the world.

What products and services will Movenbank offer?

We’ll be sharing more about this as we get closer to our launch date. You can expect to get basic spending, savings and credit services, however without the confusion of an array of complex products and so called “features”.

Today, products and services are something you apply for on someone else’s terms and then you hope and pray you get approved. We want products and services to be something you achieve, always with a clear understanding of the path to get there. In this way, better fees, rates, and more credit options aren’t different “products” you need to “apply” for but instead are levels of achievement as you spend, save, and live smarter.

What does no hidden fees mean?

We believe that if we’re going to charge you, you should know up front and have the option to choose accordingly. We’ll be competitive, but most of all we’ll be transparent. We’ll let you know when we’re going to charge you, what it’s for and you’ll have a choice of whether to proceed.

Right now do you know what you get charged for ATM withdrawals with your bank? Do you know what your monthly charges are? Do you know what it costs to transfer money to a friend via your bank or via PayPal?

You’ll always know with Movenbank. That’s our commitment to our customers.

What does no plastic mean?

It won’t be very long before the plastic card you are carrying around in your wallet becomes a collector’s item. We believe the future of payments and banking is in the mobile phone and mobile wallet. It’s faster, it’s way more secure, and, above all, it provides us the ability to interact with our customers when they spend.

Movenbank is designed to be used everyday, wherever you are, but you won’t pull out cash or plastic from your wallet – you’ll be using your phone. Your mobile phone is at the core of how Movenbank works. Some may feel threatened by that possibility. At Movenbank, we call it inevitable. And we’re not no plastic for the sake of its - our key focus is about making banking easier and better.

How will I pay without plastic?

Already you can use your contactless card or mobile phone to pay at merchants around the world, including Best Buy, Walmart, GAP, McDonalds, Starbucks, taxis in New York City, and hundreds of thousands more locations.

Now Google is rolling out their Google Wallet, along with PayPal, Starbucks, Square, Visa, Mastercard, American Express, ISIS and many others now rushing to launch mobile payments capability, the infrastructure is rapidly being deployed. Within a couple of years, contactless payments will be pretty much standard.

Movenbank will work just as your existing card does, except instead of swiping, simply tap your phone and go.

No paper? Ever?

That’s our aim.

When it comes to new services or products from Movenbank, we’ll be doing everything we can online or through the mobile. On occasions we’re presented with regulations when we might need to ask you some specific questions, or deal with a specific problem you’re facing that might require some written form of communication. However, we think that we’ll be saving lots of trees and at the same time working much simpler and easier. Most of the time when a bank asks you to fill out a form, it’s not because they need your signature on the paper – it’s just the way they’ve worked for the last 40 years and they can’t be bothered to change it.

Why do you have a financial personality test?

Spending, saving and living smarter begins with understanding who you are and what you do as it relates to your money...knowing your financial personality is taking the first step toward understanding who you are. We believe that increased self-awareness and money consciousness will help make you financially stronger.

As Movenbank launches our banking service, this information will help us better serve you and give you insight into your approach to finances and more control over reaching your financial goals.

What is CRED™?

CRED™ is a measure of your credibility as a friend, colleague and customer. It will equalize the playing field between your value to Movenbank and our value to you and will help you understand the context of your day-to-day financial decisions as you make them.

CRED™ is a vital part of our reboot of banking and will change banking for people moving forward. Gone will be the days of mysterious credit scores, rejections by the ‘credit department’ and all those hoops that banks and credit companies make you jump through to prove yourself before they’ll let you be their customer.

CRED™ puts you in the driver seat and gives you control over your financial future in a way that has never before been possible.

When will you launch?

Rebooting banking is a big task and we’re working towards a launch in late 2012.

Interested? Sign up and join our alpha team to discover your financial personality and be among the first in line to get Movenbank’s products and services.

Where are you located?

If you have any questions or concerns, we’d love to hear from you. You can reach us via help@movenbank.com.

We are headquartered in New York City (Incorporated in Delaware), so by nature of this fact we need to adhere to laws in the US in respect to privacy, disclosure and so forth. If you live outside the US and you’ve registered with us, then your personal information will be protected by US laws and held on servers in the USA.