Mana provides a US dollar financial account for global Filipinos, combining a real USD wallet, a 3.5% APY savings feature, and a Visa card with free remittances at the mid-market exchange rate. The platform aims to eliminate hidden fees and opaque terms common in cross-border banking, offering a unified financial home for freelancers and overseas workers.
Funding
Funding not disclosed
Founders
Product
Problem
Filipino freelancers earning in dollars and overseas Filipino workers (OFWs) face a fragmented financial life split between the US and the Philippines. They encounter high remittance fees, hidden FX markups, opaque terms, and limited access to US banking services, which erodes their earnings and complicates supporting family back home.
Solution
Mana provides a financial home for global Filipinos through a single app that combines a real US dollar account, high-yield savings, and a globally accepted Visa card. Users can hold USD, earn 3.5% APY on their Save balance with no lock-up or minimum, and send money home free at the real mid-market exchange rate, ensuring families receive exactly the amount sent. The platform is designed to simplify cross-border finance, offering FDIC-insured banking services through a partner bank and a Visa card issued by a card partner, all managed from one interface.
Target Audience
Primary customers are global Filipinos, specifically freelancers earning in dollars from international clients and OFWs working abroad who need to support family in the Philippines.
Features
- Real US dollar account with banking services provided by a partner bank (Member FDIC), with eligibility for FDIC insurance up to $250,000
- Save feature offering 3.5% APY on USD balances, fully liquid with no lock-up and no minimum, though not FDIC-insured
- Visa card that works globally, issued by a card partner, for spending in USD and abroad
- Free remittances to the Philippines at the real mid-market exchange rate with no hidden FX markup
- Account opening is free, with no monthly fees or minimums mentioned