Charlie Financial provides banking services tailored specifically for Americans aged 62 and older. The platform offers features like early access to Social Security payments, advanced fraud protection, and a high APY on deposits held at their partner bank, Sutton Bank. This service aims to offer security and financial convenience to the senior community with no monthly fees.
Funding
$31M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Individuals aged 62 and older are particularly vulnerable to financial fraud and scams, requiring robust and personalized protection measures. Traditional banking solutions may not offer the tailored security features needed to address the specific risks faced by this demographic. Furthermore, waiting for Social Security payments can create financial strain for some seniors.
Solution
Charlie provides a financial technology platform designed to protect seniors from fraud and provide early access to Social Security payments. The platform offers personalized fraud protection through real-time transaction monitoring, allowing users to customize security settings. Users can access their Social Security payments 3-5 days early without fees or interest by moving their direct deposit to Charlie. Accounts are FDIC-insured up to $250,000 through Sutton Bank, and users receive access to U.S.-based phone support.
Target Audience
The primary target audience is individuals aged 62 and older who are seeking enhanced fraud protection and early access to their Social Security payments.
Features
- Real-time transaction monitoring to detect and prevent fraudulent activity
- Customizable fraud shield settings to match individual spending habits
- Early access to Social Security payments, 3-5 days in advance
- FDIC insurance up to $250,000 through Sutton Bank
- Access to 55,000 fee-free Allpoint ATMs nationwide
- U.S.-based phone support for customer assistance
- 3% earnings on average monthly balances
- Free NortonLifeLock subscription for identity theft protection