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A great solution for new migrants: how to get money without having a credit history in the USA

Anyone who has experienced immigration can attest that the first years of life in a new country are the most difficult. New arrivals are often forced at first to take on any job, often for a rather low salary. At the same time, they most often do not have the opportunity to get a bank loan and even a regular credit card. For any, even the most insignificant bank loan or credit card in America, a credit history is needed, that is, the experience of successfully paying off previous loans in the United States, which new immigrants did not have the opportunity to accumulate. But digital online banking specialists Bnine (B9) know how to find a way out of this situation.

Photo: Shutterstock

Exit the vicious circle

As a result, many new immigrants find themselves without any financial support, and are forced to literally live paycheck to paycheck, often denying themselves the most basic needs in order to purchase things they cannot live without. This situation not only affects the quality of life, but also creates a kind of vicious circle: not being able to get a loan, immigrants cannot create a credit history for themselves, which means they cannot count on the possibility of a loan in the future.

Digital online banking Bnine (В9) offers the best way out of this situation. Thanks to the system developed by the creators of the company, you can use your salary before it arrives in your account, that is, in fact, to receive wages in advance against your future income.

On the subject: How an immigrant can create a good credit history from scratch: step by step instructions

«B9 is online banking platform, we have a license issued by a major infrastructure sponsor bank. Accordingly, we open a full-fledged American account for our clients both on the basis of SSN and ITIN. We issue a B9 card, which is very similar to a regular credit card and can also be used to pay for purchases. Thus, even people who have not yet received the right to work in the US, but who have some other income, can open an account with us. To do this, you only need an American ID and an address in the country", - explains the CEO of the company Sergey Terentyev.

How it works

V9 does not issue loans, but based on a person's income, calculates the limit of early access to his future income. Simply put, if you receive a salary at the end of the month, then thanks to B9 you can use this money already at the beginning or in the middle of the month, when the money has not yet been credited to your account. In fact, you can use your salary in advance - B9 Advance - and do not pay any interest on the loan (0% APR, no fee). You can download the application here.

«When a new user registers in the system, we, of course, cannot immediately give him an advance payment in the amount of his entire future salary. First, we open a small limit for him, based on the amount of his income, the frequency of receiving a salary and the number of transactions. It can be 20-30% of his salary. The limit grows over time.", - explains Sergey Terentiev.

Infographic: Oleg Avilov (for ForumDaily)

The founder of the company admits: theoretically, there is a risk that a person’s income will suddenly stop, and he will not be able to return the money spent in advance. However, the company does a thorough analysis, including using artificial intelligence, which can predict user behavior. In addition, Sergei Terentiev notes: one-time use of the service V9 much less profitable than doing it regularly. The longer the client uses the services of the system, the more the limit grows - up to 100% of the salary.

Advantages of the B9 system

Your previous banking experience is irrelevant. Sergey emphasizes: B9 is not interested in your credit history and immigration status. The only thing you need is to have a regular income, legal status in the USA and an American ID with a photo.

«It can be full-time or part-time work, irregular work like food delivery or Uber and Lift drivers, freelancing. We look at how regularly and to what extent he receives income and on the basis of this we calculate the limit for him. In addition, it is important for us comprehensive use of our platform, including day-to-day spending by the user on the B9 card» - explains the head of the company. - "Simply put, we are only looking at user behavior within our system. External factors are not important».

Security. Sergey notes: most often, unprotected segments of the population need such services. In a normal situation, these people are forced to resort to various online loans, which sometimes do not have a sufficient degree of protection. As a result, attackers can steal people's data and receive loans in their name, thereby completely canceling out their future credit history. Sergey Terentyev assures that in B9, customer data is securely protected, which helps to avoid such risks.

«All our applications are verified and certified by the sponsoring bank and comply with the requirements of Visa and Mastercard payment systems. The money in your account is insured by the US government“, he assures.

No interest on the loan. As already noted, the services of early ("advanced") access to money are not formally considered a loan. Therefore, all you have to pay is the monthly subscription cost of $10 and a small fee for some types of transactions.

In the near future - the ability to create a credit history. As Sergei Terentyev explained, the founders of the company are currently working on the possibility for customers to grow their credit history using B9 cards. This service will become available soon.

V9 - this is the best account for receiving a salary. On the one hand, the regular receipt of money automatically increases the advance limit available to the user. At the same time, the client receives a full-fledged American bank account, without wasting time on personal visits to banks and collecting a large number of documents.

Ability to transfer money from checks online

«In the near future we will be able to add checks online. If you received a reward by check, you can take a photo of it, send it to the system, and the money will be credited to your account. They will also be assessed as your income.", - explains Sergey.

Infographic: Oleg Avilov (for ForumDaily)

Who will benefit from it

Sergei notes that in the beginning, B9's clients were mostly immigrants. In addition to early access to money and the convenience of money management, they were also attracted by Russian-speaking customer support. Now the company has many customers among Americans with an average income and slightly below average.

«Basically, these are delivery workers from Amazon, Walmart, USPS, Uber and Lift drivers and employees of other services. It can be truckers, medical workers, home electronics repairers, and so on. In addition, a person can have several types of income, and all of them are taken into account in the system. The limit is calculated based on the total income of customers", - explains Sergey Terentiev.

You may be interested in: top New York news, stories of our immigrants, and helpful tips about life in the Big Apple - read it all on ForumDaily New York.

In a word, if suddenly you do not have enough money before your salary or you have unforeseen expenses, it is absolutely not necessary to take loans and pay interest on them. You can use your own money absolutely free of charge - even if there are still a couple of weeks left before their actual accrual. Accounts in V9 it is beneficial to create for each family member, since transfers within the system are free, that is, you can financially support a loved one without extra commission costs.

If you need advice on B9 services in Russian, write to - each letter is handled in detail by the multilingual Customer Support team.

Read also on ForumDaily:

Low wages are not an obstacle to a comfortable life in the USA: how immigrants can quickly improve their financial situation

Your state may owe you a large amount of money: how to get it

Step-by-step instructions: how to open a business in the USA for an immigrant

How to train yourself to save money: the advice of psychologists

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