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A Breakdown of Fees Before Breaking Free

This is the third post in our series "The Money Revolution". If you haven't read the first two, we recommend you start here.

A Breakdown of Fees Before Breaking Free

Spoiler alert: we never charge fees. Never.

Yes, you read that right.

With banks, on the other hand, it’s a different story.

Let’s take a quick look at some of the fees and surcharges banks collect from their clients (aka, you!).

The Costs of Modern Day Banking

When you have a checking account, you don’t just give your bank your money to protect. You’re actually doing them a favor – you’re allowing them to use your money to make them money. As we covered earlier in this series, they loan it out and earn interest on it.

That being said, shouldn’t a checking account be, at least, free?

That would make sense, but banks are built on an old financial infrastructure. Customer fees are baked into their system, and they rely on them as part of their profit.

Accidentally withdraw more than you have in your account? Look out for an overdraft fee.

Before you withdraw (your own hard-earned) cash from a different bank’s ATM, remember, your bank will hit you with a fee to do so.

Additionally, your bank might charge you a fee if you don’t keep a certain minimum balance in your checking account, and they may even charge you a monthly maintenance fee simply to have the account. Same goes for credit cards – right off the bat, some banks charge you an annual fee just to keep the card in your wallet.

There are other fees, but you get the idea.

And this isn’t chump change – in 2020, banks brought in more than $30 billion in overdraft fees alone.

A New Paradigm

With Pebble, you can take every single one of those fees and surcharges above and toss them out the window. In the new financial system we’re building, “fee” is a forgotten word.

Our entire functionality is based on an innovative approach to finance that allows us to cut out inefficiencies. This, in turn, makes it so we don’t need to charge you any type of fee to operate.

We like the idea of working with you to help your money grow, rather than looking for ways to skim a bit here and there.

We’re all about the new paradigm of finance, but how does it all work? How are we able to offer you such a high interest rate on your money? Keep reading to learn about Pebble’s business model and see how we connect the dots.

Join The Money Revolution.

Let's build a more rewarding future together.

It's time to start earning.
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Join The Money Revolution.

Let's build a more rewarding future together.

It's time to start earning.
Check your texts for a link to get started.
Oops! Something went wrong while submitting the form.