Adro provides US dollar checking, savings, and credit card accounts specifically designed for international individuals and businesses moving to the US. The platform offers features like zero inbound wire fees, 1% cashback on eligible purchases, and easy online sign-up without requiring an SSN. This financial technology service enables users to manage USD transactions and access banking services immediately upon arrival.
Funding
$2M 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.
CTENNYFounders
Product
Problem
International students and workers often face difficulties opening bank accounts and accessing credit in the U.S. due to the requirement for a Social Security number and the challenges of establishing a credit history without one. This lack of access can hinder their ability to manage finances, pay tuition, and conduct everyday transactions.
Solution
Adro provides a fintech platform that allows international students and workers to open U.S. checking and savings accounts, as well as obtain a credit card, without needing a Social Security number. Users can open an account before arriving in the U.S. and pre-fund it from their home country. The platform offers no monthly fees, enables international transfers, and helps users build U.S. credit history through a secured credit card that reports credit activity, even before an SSN is issued. Adro accounts are FDIC-insured and accessible via a mobile app for convenient money management.
Target Audience
The primary target audience is international students and workers coming to the U.S. who need access to banking services and credit without a Social Security number.
Features
- No Social Security number (SSN) required to open an account
- Ability to open and pre-fund accounts from outside the U.S.
- No monthly fees for checking and savings accounts
- Adro World Mastercard® secured credit card to build U.S. credit history, with 1% cashback on all purchases
- FDIC insurance up to $250,000 through Stearns Bank N.A.
- $0 inbound wire transfer fees
- Two free ATM withdrawals per month from any ATM
- Integration with Apple Pay and Google Pay for digital payments
- Mobile app for managing accounts, sending money, and accessing customer support