I heard of Digital International Bank or saw one of their advertisements but don’t know if it’s a good bank to sign-up with? This article will discuss all the facts about this bank, and its features, so continue reading this article for more information about DIB.
What Is DIB?
Digital International Bank, or DIB, is an international financial entity founded in 2017 and is registered in Puerto Rico, an overseas territory of the USA. This allows you to enjoy the stability of US banking, as well as many other great benefits. They operate by permit through the full authority of the Office of the Commissioner of Financial Institutions of Puerto Rico (Oficina del Comisionado de Instituciones Financieras in Spanish), which regularly audits their operations.
What Makes It Different?
You’d probably think that all banks are equal, but the reality is that there are some significant differences, especially with DIB. One of the most important ones is that there is up to 100% liquidity for all deposits.
Suppose you’re not familiar with the business. In that case, most banks make money by speculating using the savings that customers give them, and they often invest these in financial instruments that are complicated and risky. The system is quite complex. First, they make risky bets with your money, and then they take all the profit for themselves. What’s more, they also charge even more fees on you to cover their losses.
The good news is that it’s not the same case with DIB because they do not make loans or engage in speculative trading with any clients’ funds. Instead, DIB uses its partner banks’ vaults to store customer deposits and causes most of its money from commissions and service fees.
Another notable advantage of DIB is its personalized service. They can provide solutions that not only fit your needs but are also tailored to you specifically. You won’t easily find this with a traditional bank since they usually have standard account types and tiers, which might not be suitable for everyone.
So Who Can Sign-up With DIB?
Most residents of the world can open an account with this bank, but of course, a few countries are not allowed. If you want to make sure that your country is not included in the restricted list (which are not that many), it would be best to get in touch with their support team, and they’ll most likely be able to provide you with an answer. But, of course, it’s easy to get in touch with them anyway via phone or email.
Do note that the bank carefully examines every application, but for any concerns, their officers are always willing to take care of the needs of their clients. And since they are closely regulated, it means they only work with trustworthy people and companies. That’s a good thing because they follow strict regulatory policies, which in turn guarantees consumer safety.
The Convenience of Digital Banking
The recent pandemic is a harsh reminder that having an easily accessible bank account at home is essential. The best thing about having an account with DIB is that you can manage it from anywhere. Mobile banking services are available for this purpose. In addition, they offer affordable rates when exchanging currencies and mobile services that are available whenever needed and eliminate the need to visit a branch.
Final Word
So is Digital International Bank the right bank for you? With all of the benefits mentioned, it’s hard to say no. The bank offers the latest technology and the best security measures for remote account management. In addition, the online platforms protect all transactions, and best of all, you can enjoy 24/7 customer support.