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CapWay Debit Card Review

When it comes to managing your finances, not all financial products are designed to help you meet your financial goals. In fact, many financial products seem to actively put roadblocks in your way. The Capway Debit card is looking to change that.

The features embedded in this debit card might just be the helping hand you need to digitally manage your funds effectively. 


Quick Summary

  • The CapWay debit card doesn’t have any overdraft fees or minimum balance fees.
  • It’s easy to send and receive money. 
  • Plus, you can start saving money towards your Money Goals.

CapWay Debit Card Details

Product Name

CapWay Debit Card

Min Balance

None

Monthly Fee

None

APY

N/A

Promotions

None

Table of Contents
What Is CapWay Debit Card?
What Does It Offer?
Are There Any Fees?
How Do I Contact CapWay Debit Card?
How Does CapWay Debit Card Compare?
How Do I Open An Account?
Is It Safe And Secure?
Is It Worth It?
CapWay Debit Card Features

What Is CapWay Debit Card?

Based in Atlanta, CapWay is a fintech startup with the goal of providing inclusive products and services through its neobank. 

According to CEO and cofounder, Sheena Allen, “Starting a bank account is just the starting point of the financial race. Achieving financial health and generational wealth is a marathon, not a sprint. At CapWay, our purpose is to make sure you have everything you need to complete the race.”

The platform wants to remove banking barriers and provide the tools you need to close gaps in the financial system. The CapWay debit card was launched in 2021 to an extensive waitlist of customers. 

What Does It Offer?

The CapWay debit card might be a good fit for your finances. Here’s a closer look at its features. 

Virtual Card

In addition to a physical debit card, you’ll have access to a virtual debit card. You can use your virtual debit card as soon as you open the account to start making online purchases. 

If you want an accessible debit card that you can start using immediately, CapWay presents a good opportunity. 

Money Goals 

Setting financial goals is a big part of making progress towards your financial dreams. Without a concrete goal, it’s easier to spend on an immediate purchase over an undefined financial future. 

CapWay makes it easy to set up Money Goals on its platform. 

Not only are the goals easy to set up, but the platform makes it easy to set aside funds on a regular basis. You can round up your transactions and send the difference to your money goals. Or you could set up regular transfers to the Money Goal Buckets. 

Ask For Help When You Need It

Sometimes, everyone needs a helping hand. This is especially true when it comes to money. 

If you don’t have the funds you need for a money goal deadline, CapWay makes it easy to ask for help. Within the platform, you’ll find a way to request help from friends, family, and social media to make it to the finish line. 

Send And Receive Funds Easily

CapWay makes sending and receiving money a breeze. You can transfer funds or make a deposit to anyone’s account, whether or not they use the same bank. It’s free to send or receive money between CapWay accounts. 

Are There Any Fees?

CapWay wants to help its users make the most of a positive banking experience. With that, it’s not surprising that this debit card is relatively light on fees. 

There are no fees for any of the following:

  • Monthly account maintenance
  • Overdraft
  •  Card activation
  •  ATM withdrawals (they have thousands of in-network ATMs)
  • Your first card replacement (After that first free replacement, it costs $5 replace your card.) 

How Do I Contact CapWay Debit Card?

If you need to get in contact with CapWay, the platform offers a contact form on its website. Although the product has recently launched, it’s enjoyed positive feedback so far. 

The platform earned 4.2 out of 5 stars in the Google Play Store and 4.1 out of 5 stars in the Apple App Store. 

How Does CapWay Debit Card Compare?

The CapWay debit card isn’t the only option for those looking for a relatively fee-free experience with a banking platform designed to propel their finances forward. 

One other option is the Fizz debit card. It’s a fee-free debit card opportunity that works to help you build credit. Fizz even offers the chance to tap into cash back on purchases through select brands. 

Or if you are looking for a prepaid debit card option, the American Express Serve card offers a suite of features. 

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This post first appeared on The College Investor | Investing And Student Loan, please read the originial post: here

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CapWay Debit Card Review

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