- Pros and cons
- Kinly Account
- How Kinly works
- Is Kinly trustworthy?
- Kinly vs. OneUnited
- Kinly vs. Liberty Bank
- Frequently asked questions
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Update: Kinly has been acquired by Greenwood in 2023. See the best high-yield savings accounts and the best checking accounts for currently available accounts.
The bottom line: Kinly could be a great fit if you're looking for a banking platform that supports Black Americans. You'll want to look elsewhere for a traditional banking experience, though. Kinly also doesn't pay interest, and you can earn great rates at the best high-yield savings accounts.
Pros and cons
| Pros | Cons |
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Kinly Account
Kinly Account Start banking On Kinly's website
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Feesno monthly service fee
Annual Percentage Yield (APY)None
Minimum Deposit Amount$0
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Kinly Visa Debit Card
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Receive your paycheck up to 2 days early
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. May overdraw up to $100 with Kinly Overdraft, if you qualify
- con icon Two crossed lines that form an 'X'. No physical locations
- con icon Two crossed lines that form an 'X'. $2.50 out-of-network ATM fee
- con icon Two crossed lines that form an 'X'. Can't overdraw over $100
- To deposit money into a Kinly Account, you can make an ACH transfer from an external bank account or deposit cash at a Green Dot location
- To qualify for Kinly Overdraft, you must receive direct deposits of $1,000 in your Kinly Account over 35 calendar days
- Won't be able to overdraw from your account if you're not enrolled in Kinly Overdraft
- Banking services provided by The Bancorp Bank, Member FDIC
The Kinly Account is a bank account with a debit card. To manage the account, you'll use the Kinly app.
You might like the Kinly Account if you're looking for a fee-free banking option — there are zero monthly service fees and zero overdraft fees. The Kinly Account also has a few notable perks, like early direct deposit and free overdraft protection for up to $100 if you qualify.
How Kinly works
Kinly is a fintech company that supports Black American communities.
Kinly has a mobile banking app where you can open a Kinly Account and Kinly Visa Debit Card. The app has financial education resources, including educational videos and podcasts on personal finance topics. The platform also helps individuals avoid common bank fees, which disproportionately affect Black Americans.
Customers have access to over 55,000 free ATMs through the AllPoint ATM network. Speak with a customer service representative by phone or email anytime from 7 a.m. to 7 p.m. CT Monday through Saturday or 9 a.m. to 5 p.m. CT on Sundays.
Kinly's mobile app is rated 3.7 out of 5 stars in the Google Play store and 3.9 out of 5 stars in the Apple store.
It's important to note Kinly is a mobile banking platform, not a bank. However, banking services are provided by The Bancorp Bank, Member FDIC. Funds in your Kinly Account are FDIC insured through the Bancorp Bank. Up to $250,000 is secure in an individual bank account.
Kinly trustworthiness and BBB score
The Bancorp Bank — through which the Kinly Account is federally insured — hasn't been involved in any recent public scandals.
We also include ratings from the Better Business Bureau, which sees how companies respond to customer issues.
The BBB gave the Bancorp Bank a B+ rating because it hasn't responded to a customer complaint.
BBB ratings do not guarantee a perfect relationship with a business. To see if Kinly is a good match, you can reach out to current customers or read online customer reviews.
Kinly vs. OneUnited
OneUnited is a Black-owned bank. Branches are located in California, Florida, and Massachusetts, but you may open an account online if you don't live in one of these states.
Below we've reviewed OneUnited and Kinly, so you can determine which one might be better for you.
Banking experience Online-only account | Banking experience Online and in-person bank accounts |
Standout feature No minimum opening deposit | Standout feature Variety of bank accounts |
| Learn more | Learn more |
You might lean more toward Kinly if you want to open an account with a lower minimum opening deposit. The Kinly account requires no minimum opening deposit. Meanwhile, OneUnited Bank accounts typically require a minimum opening deposit between $25 and $500.
OneUnited Bank may be a more compelling choice if you would like to open a savings account or multiple bank accounts. Kinly only offers the Kinly Account, which doesn't earn any interest.
Kinly vs. Liberty Bank
Liberty Bank is a Black-owned bank with branches in the Southern region of the US. The bank also has online accounts that can be opened from anywhere in the US.
See how Liberty Bank matches up with Kinly.
Banking experience Online-only account | Banking experience Online and in-person bank accounts |
Standout feature No minimum opening deposit | Standout feature Solid interest rates on CDs |
| Learn more | Learn more |
If you're searching for a bank account with minimal bank fees, you'll likely prefer the Kinly Account to the Liberty Bank Personal Checking Account. The Kinly Account doesn't charge monthly service fees or monthly services. The Liberty Bank Personal Checking Account has a minimum balance requirement to avoid a $10 monthly service fee.
You might favor Liberty Bank if you'd like to earn interest on a bank account, though. The bank's CDs earn a solid interest rate compared to other CDs at brick-and-mortar banks.
Frequently asked questions
What is Kinly? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Kinly is a mobile banking platform that serves Black American communities by helping build generational wealth. Through the app, you can open and manage a Kinly Account and Kinly Visa Debit Card.
Who can use Kinly? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.You may use Kinly if you're over the age of 18, and have a Social Security number or ITIN number.
How are the funds in my Kinly Account protected? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Money in your Kinly Account is FDIC insured through The Bancorp Bank, Member FDIC.
Does the Kinly account have overdraft protection? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Yes, the Kinly Account has free overdraft protection called Kinly Overdraft. Kinly Overdraft allows you to overdraw up to $100 from your account. To qualify for Kinly Overdraft, you must receive $1,000 or more in direct deposits during 35 days.
Sophia Acevedo, CEPF Banking Reporter Sophia Acevedo is a banking reporter at Business Insider. Sophia joined Business Insider in July 2021. She writes bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).Sophia is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Southern California.You can reach out to her on Twitter at @sophieacvdo or email sacevedo@businessinsider.com.Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>Below are links to some of her most popular stories:- Are banks open today? Here's a list of US bank holidays for 2023
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