Ohio-based lender Sutton Bank has entered into a new partnership to issue Cuentas debit cards.
The new offering, set to be rolled out soon, is aimed at the unbanked Latino community in the US.
The Cuentas debit card will provide the customers access conventional financial services without the necessary paperwork to bank.
Cuentas card will offer an FDIC insured bank account with bill payment, ATM, direct deposit, cash reload and mobile banking capabilities.
The customers can also avail international remittance services.
Sutton Bank senior vice-president of payments and prepaid Jeff Lewis said: “Sutton Bank is pleased to launch this product with Cuentas for the Latino community.
“Giving consumers more choices in their banking relationships, enabling millions of Americans to have a product with parity to traditional style checking accounts and more opportunities to spend and receive funds than ever before.”
Cuentas CEO Arik Maimon said: “The attainment of an issuing bank was a key milestone as we move towards the initial launch of the Cuentas Card in New York City in the third quarter of 2019.
“Our partnership with Sutton Bank is representative of our commitment to providing exceptional banking services to the underbanked and underserved Latino and Hispanic communities.”
A fintech services provider, Cuentas offers solutions to increase financial inclusion among Latino and Hispanic communities. Its services include mobile banking, prepaid debit, bill pay, ACH and mobile deposits, money transfer and cash remittance among others.