Xinja gets full banking licence & launches bank accounts!

Congratulations, Xinja team! :tada:

Hi Gus - & welcome! :wave:

We’re so glad to hear that you’ve been loving our pre-paid card. :blush:

To give you some context - when we launched our pre-paid card we partnered with payments provider, Indue, as we were yet to receive our restricted banking licence.

As you’re aware - since launching the pre-paid card we’ve received both our restricted banking licence (December 2018) and most recently the announcement of our full banking licence that came on Monday. This means that we no longer require the partnership with Indue and can launch banking products of our own! :tada:

Our bank account product will include all the same features as our pre-paid travel card… and more. There’ll no longer be a $999 balance limit, and instead of being refunded currency conversion fees, you won’t be charged these in the first place! :partying_face:

We’re not launching any sort of credit card product, as the only way we can make money from this is when the customer stuff up. That’s not what we’re about. We want to help our customers make smarter choices with their money; help them budget & help them stay out of debt - & we’re so pleased to hear that the pre-paid card has helped you do that!

Whilst at the moment we have launched with a transaction account, next will be savings accounts, and I hope we can offer something new that will cater to your needs like the pre-paid card has so far. :smile:

Great work Xinjas,

Is 86400 not a indipendent neo-bank?
they also recently got their banking licence.

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Thanks @Xan! So 86400 has the backing of payments partner - Cuscal.

Yep - they received their full banking licence in July this year and launched bank accounts to the public on Tuesday. This is a fantastic achievement for them and neo banking as a whole! It’s super exciting to see different neobanks coming out of the woodworks with products on the market. :blush:

@xinjalotto, thanks. So to achieve a card with a fixed limit, I would have to have an account (savings or transaction) with no more than that fixed amount in it (separate from my main savings or transaction accounts) with a card attached? Works for me if that is what I have to do, and you allow me to have more than one account with an attached card.

Hey @AngusCS thanks so much and also thanks for reaching out about the prepaid card. Please note that the new debit card that comes with the Xinja bank account whilst it is MasterCard is not a credit card - we are not intending to do credit cards ever! So you can use the new account and card exactly the same as the prepaid card if you choose to. It has zero currency conversion fees (not even recharged not but not charged in the first place!), zero international atm withdrawal fees, you’ll be able to see the amount in both currencies, know how much money you’ve got left, lock the card etc. The only difference is it’s attached to a bank account, but the account has no fees. Also, as we roll out ‘stash’ (savings account - we will launch in a couple of months) we’re planning to make these multiple, which allows you to earmark $ for specific things and prevent spending of earmarked money (without your making a deliberate decision and taking action to do so) so I think it can cater for that requirement? Give it a go! And the prepaid card is here till 1st December meanwhile. :ninja_emojis_pink_03:

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But maybe haven’t launched a bank account?

Hi Camilla,

I think last time I looked into Stash, the plan was that users could only have one. Good to see you’re now talking about multiple.

Are you able to confirm that each Stash account will have its own account number?



Any out there got a invitation or better still and actual account yet ? Would love to know what features are ready and live/working. And get a review. Are the basics there already like Google Pay and Osko ?

Following previous comments on the roadmap it was only going to be weeks between releases. So must be second release this week or next and stash must be a few weeks away.

When should we expect invitations ? When I read your press it sounded like you were actually launched to the public ?


How fast is this rollout? I have the pre paid card when do I get my invite for the bank?


@nickelslol I suspect very slowly given no one on this forum has an invite yet. I’m a shareholder and haven’t got one yet. I suspect they are not really ready and the ‘launched to the public’ was just a line for the media.


Annoying haha once I’m told invites are coming i become very impatient :rofl:

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Unfortunately this is probably true. Time to start delivering otherwise they will alienate the many loyal supporters who want this to succeed.

Shouldn’t shareholders come up at top of invite list?

They’ve said that shareholders and existing prepaid customers are going to be the first to receive invites however unfortunately I’m getting the feeling that this won’t be happening anytime soon.

Interesting, though i see no mention of shareholders above, so I guess you got news from somewhere else

Yeah, @Camylopez I received an email 2 weeks ago (10th Sept) which included the below info.

" We’ll be rolling out bank accounts to investors, existing prepaid card customers and our waitlist on an invite only, measured basis to begin with to make sure everything operates smoothly as we go and scale, before making the bank account available to the general public in a month or so’s time.

So watch out for your own invite coming in the next few weeks "

Yep, I guess if I check the investor update email it says it there.

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Hey @Camylopez @mmees @Azzy @T_Armer @nickelslol - I hear you! We launched on 10th and we are starting slow so it is going to take a few weeks to get out to all 28,000 waitlist and counting…however we hope to be accelerating rapidly in the next couple of weeks so they start to hit thick and fast. This week, we’re going to start giving everyone a cohort so if you contact the Xinjarati via the prepaid app or on the phone, and give them your details, they’ll be able to give you a ‘between this date and this date’ estimate so get in touch end of this week and next week if you haven’t heard and want to know - 1800 946527.


Is it time to re-read golden rule 4 ? I’m not convinced you have actually launched to the public yet.

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