HIGHLIGHTS

Zenbanx was started on the premise that your money is not as free or global as you are.

Zenbanx was built for citizens of the world—those who live, travel, and work in multiple currencies. You find them at airports, on the move, creating a world without borders. You find them right next door, in our neighbourhoods, creating futures for themselves and a richer culture for the rest of us. You might even find one in the mirror. Most of us, when we think about it, have connections all over the planet. We don’t live inside the lines on maps. International money transfers are cheaper using your Zenbanx account than using a bank. Period. And if you’re sending money to another Zenbanx customer in the Zenbanx directory in the USA, there are no fees.

Zenbanx is the culmination of years of observing and experiencing the frustrations that citizens faced when funding bank accounts, sending money to their home country or accessing their foreign currencies. People travel freely, money less so. Mobile technology has unleashed limitless potential for business, but banking and money movement have lagged. Isn’t it time for money to be set free too?

Opening a Zenbanx account takes 5 minutes.Opening a Zenbanx account takes 5 minutes.

Link your main bank account with Zenbanx and exchange USD into INR and other currencies from your smartphone with no transaction charges. With your Zenbanx account you will receive an International debit card and your USD savings will earn interest too! Your International debit card detects the country you are in and withdraw funds from the foreign currency position of the country you are in, provided that you hold that currency in your account. Travelling and shopping outside of the U.S. has never been this easy.

To learn more, visit Understanding How does Zenbanx Work?

What's Good About Zenbanx

Exchange money with great rates and as often as you like. Send only when you need to.
Get a Global VISA® Debit Card to access all of your currencies when you travel. No foreign exchange transaction fees.
Earn interest - 1.01% APY* on USD and 1.26% APY* on INR balances.
Deposits are FDIC insured.
No minimum balance fees and no monthly fees.

 

* Interest rates and Annual Percentage Yields (APYs) are variable and may change daily or at any time. The minimum balance to obtain the interest rate and APY is $.01 in each currency position you hold, if available. There is no minimum deposit required to open the account. Fees assessed to accounts may reduce earnings. We use the daily balance method to calculate interest and apply a daily periodic rate to each individual currency position and accrue interest for that currency position each day. Interest is paid on the last day of the month to the applicable currency position. If you prefer not to earn interest, we do give you the ability to opt out. Interest rates and APYs are accurate as of October 20, 2016 and are subject to change at any time.

 

FEATURES

Today's Rate
$ Amount
₹ Exchange Rate
$0 - $5000
₹66.86*
Exchange Rate Type
Locked-in
Transfer Fee
Bank Account
$ Amount
₹ Fee
Up to $5,000
$2.95
Transfer Time
Bank Deposit
3 Days
Transfer Type
  • Zenbanx Account
Daily Transfer Limit
up to $5000 - Higher Limits Available
Receiving Method
  • Bank Deposit
Customer Service Info
855-ZENBANX (855-936-2269)
Mon to Fri: 9am–8pm EST
Company Headquarter
Redwood City, California
Company Type
Mobile Multi-Currency Account
Mobile App
Company Established
2015
Text Update (SMS)
Yes
Email Updates
Yes
Provider's FAQs
Referral Program
Yes
Key Feature
- Exchange funds when the exchange rate is favorable & hold INR deposits in the U.S.
- International debit card for overseas use
- Gain interest rate on your USD deposits with us
- Convenience of exchanging funds from your smartphone
Document Requirements
Drivers License (or other identifying information) & Banking Information

EDITORIAL REVIEW

Established in 2012 by Arkadi Kuhlmann, founder of ING Direct, Zenbanx was created with goal of allowing money to travel more freely, eliminating the many frustrations people face managing their foreign finances. Zenbanx users can send or exchange their money domestically or internationally all from their mobile device with little or no transaction fees.

Zenbanx works by having customers set up an account, which they manage through the Zenbanx mobile app. Nine different currencies are supported by Zenbanx, including US, Canadian, Hong Kong, Singapore, and Australian dollars, British pounds, Euros, Japanese Yen, and Indian Rupees, five of which users may manage simultaneously through Zenbanx. Then the customer’s money is transferred into their Zenbanx account from their normal bank account. From there, the customer can choose to convert the money into another currency at any time.

Customers can use the money in their Zenbanx accounts to send money domestically or abroad, transfer back to their regular bank account, or make purchases by using their Zenbanx debit card. The Zenbanx debit card can even be used to make purchases and withdrawals in other countries. 

Aside from its easy-to-use and convenient mobile platform, what also makes Zenbanx an excellent remittance resource for customers is its competitive exchange rates and no transaction fees – even on smaller transactions. Customers are also given the option of earning interest rates in currency positions that pay interest. There is no minimum balance and no fees required for customers to open an account with Zenbanx and any US resident with a valid Social Security Number is eligible to open an account.

What Makes Zenbanx Different:
Zenbanx is different from other money transfer service providers in that it allows users to hold multiple currencies in their Zenbanx account, which they can convert into any currency supported by Zenbanx at any time. Unlike other remittance providers, Zenbanx also lets users exchange money when the exchange rate is good and keep those funds in their account until they need to make a transfer. Lastly, Zenbanx also provides customers with a Zenbanx debit card, which makes for easy transactions and cash withdrawals while traveling overseas. 

Zenbanx customer accounts in the United States are offered through Wilmington Savings Fund Society (WSFS) and provide excellent security. Zenbanx currently has offices in Delaware, California, and Toronto, Canada

USER REVIEWS

Anne
Posted on December 07, 2016, 08:11 am

I started using Zenbanx when my husband and I went on a trip to Europe. The Zenbanx debit card was our only form of payment for 10 days - we didn’t have to use anything else! We paid for everything and even used the ATMs without any problems. We are going on another trip for the holidays in a couple of weeks and the Zenbanx debit card is what I will bring!

 
Ramesh Naidu
Posted on December 06, 2016, 07:36 pm

Honestly I was a little skeptical about creating an account at first. I met them at an event where I was given a demo. Their features caught my attention, though I was a bit doubtful, I went ahead and downloaded the app. The only reason I tried it was because you do not have to have a min balance or make a payment to open the account. I tested out the service for a while and now I must say I AM IMPRESSED plus they give me 1% interest on my US balance which is fabulous!

 
Avantika Krupa
Posted on December 01, 2016, 10:34 pm
Zenbanx
Posted on December 05, 2016, 11:54 am

Hi Avantika, thank you for the review! We are very happy to hear that we are able to help send money to your family abroad. We appreciate you referring Zenbanx to your friends and family. Cheers!

I am a recent graduate who started full time work few months ago. Came across Zenbanx while I was looking for a service to be able to send money back home to my family. To be frank I tried out a few services at the market to see which works best for me. Zenbanx is great, specially with respect to its level of ease and is very user friendly. They have made sending money back home as easy as it can get. I always recommend this to my friends. Great app!

 
dlu
Posted on December 01, 2016, 07:19 pm
Zenbanx
Posted on December 05, 2016, 11:54 am

Hi StephanieM, thank you for the review! We are very happy to hear that you are taking advantage of our interest rate. We appreciate you referring Zenbanx to your friends and family. Cheers!

I love using my Zenbanx account to earn interest. They have no minimums and offer 1% interest rate! It’s idea for savings. The app is easy to use - doesn’t take long at all to transfer money to my other bank accounts, or to friends and family members. I have referred Zenbanx to a lot of people and they’ve all come back with great feedback.

 
dlu
Posted on November 21, 2016, 12:26 pm

I have been a Zenbanx customer for a little over a year now and I absolutely love it. The sign-up process was quick and simple. I'm able to transfer money from and to my other bank accounts. The interest rate is a lot better than major banks. Because exchanging to different currencies is so easy within the app, I can exchange money to different currencies when the exchange rate is good, and make profit. I can also easily send and receive money to and from friends & family. The app is very user-friendly and their customer support is extremely helpful whenever you need. If you are someone who's looking for a solution to make banking easier, Zenbanx is the way to go.

 
Easy2send
Posted on August 28, 2016, 09:45 pm
Zenbanx
Posted on August 30, 2016, 11:21 am

Hi Easy2send, thank you for the review! We are very happy to hear that you were able to attend our demo and take advantage of our service during your Canada trip. Cheers!

Of all the money transfers I have tried & used, Zenbanx is the BEST for the following reasons: 1) It extremely versatile to use. They have a neat, secure mobile app and a desktop version which makes it flexible whether you are at home or offsite. 2) It very quick even though it mentions 3-4 business days. Its actually same day for INR!. 3) It offers an interest which encourages people to save when not sending - an icing on the cake. 4) Their customer service is excellent. They are polite and very knowledgeable. 5) The money exchange is absolutely free and offer 9 different currencies. All with a swipe. 6) They offer a debit card with a security chip. On my recent trip to Canada, I was able to withdraw CAD with no issues. I did not have to carry anything with me. They are constantly improving their design and services and always keep customers happy and satisfied. I encourage everyone to try it or better still attend a demo to get a good understanding.

 
BobbyN
Posted on May 18, 2016, 03:56 pm
Zenbanx
Posted on May 23, 2016, 11:08 am

Thanks for the review BobbyN!

AWESOME SERVICE !! ALWAYS HONOR THE PROMOTIONS AND RATES !! NOT LIKE AXIS, WESTERN UNION OR XOOM- those 3 are the worst !!

 
Ratesh2008
Posted on February 14, 2016, 05:03 am
Zenbanx
Posted on February 19, 2016, 01:07 pm

Hi Ratesh2008,

So happy to hear you've had a great experience. We hope you have a wonderful trip to India. Please keep us in the loop with your use of your multi currency debit card. We think you'll find it convenient and easy to access your rupees. Safe Travels!

-Lindsey from Zenbanx

I signed up for the Zenbanx bank account about a month ago. Great account! I have sent electronic greeting cards with a photo to my family and they get the message instantly and the rupees follow in a few days. Also, I like how you can exchange currency as a separate transaction, and get 1.25% interest on rupees until I want to send it. This gives me more control and earning interest which no one else does. I look forward to trying the visa debit card when I am in India this spring to see how that works. This is not a remittance company this is a global bank account. I did not know that when I signed up, but it's great.

 
vrahulan
Posted on February 06, 2016, 12:07 pm
Zenbanx
Posted on February 08, 2016, 02:41 pm

Hi Vrahulan,

Thanks for your review! We hope you'll also take advantage of our current interest rates on top of competitive exchange rates. Having great Customers like you makes Customer Care's job easy and fun, so thank you!

I've been using Zenbanx for the past 4 months now and without doubt I've been impressed. Best thing about ZB is the exchange rate changes depending on the market and not locked in. Multiple currency provides the option for exchanging the currency into another when the rate is high. Only downside is the $5.95 fee involved in the transfer to non-ZB accounts. The fee is higher compared to their competitors. Customer service is prompt with your queries being address within 4 hours of sending a mail. Keep up the good work people. Cheers.

 
neha0912
Posted on January 13, 2016, 02:38 pm
Zenbanx
Posted on January 21, 2016, 11:31 am

We are happy to hear you were able to make the best out of your flight delay in Hong Kong by enjoying some dinner!

We’d love for you to share your story with our other customers on our Facebook page here: www.facebook.com/zenbanx

While I was at Hongkong airport, my connecting flight was delayed. I was able to pay for my dinner by converting few USD into HKD with Zenbanx debit card. It worked like a charm. No other fees were charged for the transaction.:-)