Adro launches no-fee checking, savings and the Adro World Mastercard for newcomers to the US
New York, NY
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October 02, 2024 09:12 AM Eastern Daylight Time
Adro, a New York-based technology company dedicated to providing financial access to international students and workers moving to the US, announced today the official launch of its no-fee checking and savings accounts, along with the Adro World Mastercard, which offers 1% cashback on all purchases.
Following a successful beta test this summer, Adro has already welcomed customers from 110 different countries, including India, China, Korea, Saudi Arabia, Canada and Brazil.
Through partnerships with universities as well as word-of-mouth referrals, international students from over 300 US schools have now opened accounts with Adro.
Amarildo Gjondrekaj, CEO and Co-founder at Adro, highlighted the company's commitment to a seamless user experience: "Customers are smart and tech-savvy. They aren't waiting to book appointments or waiting on hold to speak with an agent. They want a fast, efficient, and secure sign-up experience. When comparing Adro against some of the big players, they're seeing the value of $0 fees on inbound international wire transfers, and setting your own spending limits on the Adro World Mastercard.”
“It can be challenging to support an international user who signs up from outside the US.” Gjondrekaj continued. “We feel strongly about the importance of giving access to US accounts from Day 1, the moment someone lands in America. We’re incredibly grateful for the oversight provided by our sponsor, Stearns Bank N.A."
"By utilizing a robust tech stack focused on customer service, efficiency, and security, Adro is serving a group of customers and international students, who need this type of access to banking services,” said Josh Hofer, Chief Risk & Information Security Officer at Stearns Bank N.A. “In partnering with Adro, we have seen rapid growth in new customer sign ups among their core international audience and it’s quickly become one of the fastest-growing programs we’ve seen to-date."
Adro remains focused on continuing to build relationships with leading US schools, agencies and major employers that work with newcomers to the US. For more information, visit www.joinadro.com/university.
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About Adro
Adro is a technology company helping internationals unblock access to financial services so they can live like a local. Based in New York, Adro has raised a $1.5M pre-seed and is backed by investors who deeply believe in equal access and opportunity for newcomers arriving in the US.
Adro was selected to join the 2024 Hudson Valley Venture Hub Accelerator at SUNY New Paltz. Adro is a graduate of Westchester County’s Element 46 Tech Accelerator and a member of CELA Innovation. To learn more, visit www.joinadro.com.
About Stearns Bank N.A.
Minnesota-based Stearns Bank National Association is a $3.1 billion, independently-owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide, in every state across the U.S. Recognized as having a bullet-proof balance sheet with 25% capital and earning top rankings as one of the nation’s highest-performing banks by American Banker, and most recently ranked fourth in the U.S. among banks having more than $1 billion in assets by Independent Banker’s 2023 Best of the Best ranking of banks with the highest 3-year average Return on Assets, Stearns Bank specializes in nationwide affordable housing, workforce and multifamily housing, commercial construction lending, build-to-suit and CRE-repositioning lending, family office and lender financing, USDA and SBA lending, and small business and equipment financing. Driven by a passion to help others achieve their greatest ambitions, Stearns Bank’s mission is to Get the Job Done! For more information, visit www.stearnsbank.com.
Contact Details
Adro
Katherine Wong Too Yen
