Announcement: Meow’s 4.31% High-Interest Checking Account
- Meow Technologies, Inc.
Financial services suck because of sneaky fees and snake-oil offers. We’re fighting back with the Costco-model for finance.
The next step?
Meow’s 4.31% High-Interest Checking Account.
Here’s the breakdown and how this will disrupt financial services forever:
The legacy bank business model is a closely kept secret:
Your bank takes your Checking Account cash and loans it out to earn interest.
Rates were so low that paying you 0% vs. 0.01% on a Checking Account was meaningless.
But now rates are 4.50 - 4.75%.
And with a looming recession and investor pressure, large banks and fintechs saw a sneaky opportunity:
Print money by preying on customer ignorance.
Because here’s the secret…
Today, the Federal Funds interest rate is 4.50 - 4.75%.
So if your bank gives you 0% interest on your checking account.
They earn AT LEAST 4.5% on your deposit.
And you make nothing.
Now, how did this happen?
The legacy players have 1,000s of employees.
And the quickest path to profitability is to earn 4.5% on YOUR money.
Is this the best outcome for customers?
But these bloated businesses are stuck.
If they pay you interest, they will be bankrupt.
How does Meow fix this?
We’re sick and tired of a sneaky financial system.
So we’re fighting the bloated finance monopoly.
The next step?
Paying 4.31% interest to our customers.
Our High-Interest Checking Account is…
- FDIC Insured
- Free to use with no minimum balance
- Automatic integration with your employee payroll and bill pay
And 1-click automation with our 4.7%* US Treasury Bills offering custodied at BNY Mellon Pershing.
During times of financial turbulence, businesses deserve better.
Every percentage point of yield could save another layoff or extend your runway.
Our mission is simple:
Bankrupt the legacy players by keeping costs low and delivering the best deals to our customers.
Costco disrupted overpriced, bloated retail.
We’re bringing the Costco-model to financial services.
And who ends up winning?
Terms & Disclosures:
Meow is a financial technologies company, not a bank. Banking services provided by Third Coast Bank SSB. The information provided is illustrative or for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy, sell or hold any security. The information provided is illustrative or for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy, sell or hold any security. ~4.7% is sourced from treasury.gov December 2022 52 week coupon equivalent rate yield. $460,000 calculated assuming treasury.gov's December 2022 52 week coupon equivalent yield based upon a $10 million deposit and held to maturity. Rates are indicative, and trade execution can affect the actual yield to maturity of the T-Bills. Projected and/or hypothetical performance is intended to show only an expected range of possible investment outcomes based on historical average returns and standard deviation of each investment type contained in the investment mix recommended by Helium, but does not take into consideration the effect of taxes, changing risk profiles, or future investment decisions. Projected and/or hypothetical performance does not represent actual client accounts or actual trades and may not reflect the effect of material economic and market factors. Meow is not an investment adviser however we’ve partnered with Helium Advisors LLC (“Helium”), an SEC-registered investment adviser, to bring you certain investing features. All investment advisory services are provided by Helium. We are not affiliated with Helium however we receive compensation as a percentage of assets managed by Helium for promoting Helium’s investment advisory services. Our partnership with Helium gives us an incentive to refer you to Helium instead of another investment adviser that is not a partner of ours. This conflict of interest affects our ability to provide you with unbiased, objective information about the services of Helium. This could mean that the services of another investment adviser with whom we are not partnered may be more appropriate for you than those of Helium. Investing involves risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time. Helium accounts are not bank guaranteed or FDIC insured.