The first time you were taught about banks as a child, you were probably told it was for looking after your money. You store money in a savings account and in turn, you get protection from theft and interest for letting the bank handle your money. 

Now as an adult, if you were asked to recall the last time you received interest from the bank on your account, would you remember? Have you ever gotten interested in your account and if you have, how much was it? Was it worth anything? Has inflation and high fees taken a hit on your bank balance?

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Traditional banks these days tend to cost you money rather than save you money. Nowadays you spend money to run accounts. There are account maintenance fees, debit card fees, transfer fees, and sometimes even deposit fees. It seems like Nigerian banks are inventing new charges every day to make you spend the money you’re saving with them. 

If you’re unsatisfied with the current traditional banking system and if you’d like to be part of creating a new banking system, Fluid Finance offers an alternative.

Started in 2021 by investment banker Robert Sharratt, Fluid Finance is a financial app that enables users to change their banking experience: traditional finance with added features. Most importantly for Nigerian users, they provide free, instant, and global money transfers: no more high fees to send and receive money from friends and family.  Fluid Finance combines traditional banking with the modern digital experience and also helps users stay connected to a financial community for mutual financial growth.

So far in the modern world, technology has made life easier, and it has also opened the world to alternative ways of doing things. With a large unbanked population (about 64 million unbanked people), Nigerians are primed to embrace this new frontier of banking and technology. Africans and Nigerians, specifically, are looking for alternatives to traditional systems and are embracing new technologies like holding digital assets, with Nigeria currently at the top of the list for the highest number of crypto users per country. Fluid Finance meets users where they are, offering them an alternative that combines all their traditional and digital banking needs into one secure super-app.

Fluid’s features

Besides local transfers, Fluid users can:

  • Send and receive money instantly and for free between 180 countries.
  • Save in DUSD or other digital currencies in the app on a 100% insured account. With this, you can track all your currencies, both traditional and digital, in one place.
  • Hold your money with 4% returns, paid out daily. By saving with Fluid Finance, you get a cut of Fluid revenue, as it operates a profit-sharing model. This method allows you to passively earn money; just deposit, and let the income stream in. 
  • Residents in the EEA and UK can open Traditional Accounts, just like a normal bank account, as well as the digital bank account all users can access.
  • Go in and out of crypto securely. You can integrate your web3 wallet with your Fluid Account and manage your assets from a faster, cheaper, and safer platform.

The vision for Fluid Finance is to build the financial platform for the future that’s built for and shaped by individuals. This is why Fluid users can connect via a telegram channel with other community members and the Fluid team so their complaints, wishes, and needs can be heard. 

For the future, Fluid is making international debit cards available for Africans, expected to launch in the coming months.

To learn more about Fluid Finance and sign up, go here.

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