Fincluded embraces financial inclusion and
strives to remove the barriers that exclude
people from the payment system.
A payment account is important to
be able to fully participate in society.
Financial
Inclusion
Having access to a payment account is indispensable to be able to build a life, and be able to pay for daily necessities.
Without a payment account, individuals and families can hardly participate in society and become financially excluded.
We believe that everyone should have access to a reliable and secure way to manage their personal finances.
Fincluded is committed to financial inclusion.
What is financial inclusion?
The World Bank Group (WBG) defines financial inclusion as follows:
Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit, and insurance – delivered in a responsible and sustainable way.
Migrant workers and financial inclusion
Each year, over 4.500.000 migrant workers from Eastern EU countries come to work in Germany, the Netherlands, Belgium, and France. For many industries, like agriculture, warehousing, hospitality, and construction, the (often seasonal) employment of migrant workers is an absolute necessity. Even though migrant workers make an important contribution to the national and local economies, most migrant workers face many challenges when applying for a local bank account.
Besides having problems with the language, migrant workers often do not have a registered address, and they lack the necessary documents that mainstream banks need for KYC (Know Your Customer) procedures.
Many banks are also not interested in opening accounts for labor migrants; the costs of opening an account for migrant workers are too high compared to the revenues.
Not having a payment account is a serious problem for migrant workers.
Without a payment account, it is almost impossible to receive wages, and paying for living expenses such as daily shopping, rent, utility bills, and mobile phone subscriptions is very complicated.
Having access to a payment account is essential to be part of a community and avoids financial exclusion.
A payment account for everyone
At Fincluded, we believe that in Western Europe’s highly developed financial structure, there shouldn’t be that many difficulties for migrant workers to obtain a payment account. We have committed ourselves to putting an end to the problems faced by migrant workers.
Having access to a payment account is the first step toward broader financial inclusion since a payment account allows people to store money, and send and receive payments.
To offer a solution to the problems that migrant workers experience, Fincluded has developed the PINCARD Payment Account.
PINCARD is an online payment account offering a stable and reliable alternative to a traditional bank account.
The PINCARD Payment Account is the ideal solution for those who would otherwise be financially excluded.
A Dutch (NL) IBAN account in Euros
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A contactless Mastercard® Debit card
A Mobile App to manage personal finances
Personal service in multiple languages
Employers with foreign employees
For employment agencies and employers who work with migrant workers, Fincluded has designed the PINCARD employer portal. In the PINCARD employer portal, employers can quickly and efficiently assist their foreign employees with their application for a PINCARD Payment Account.
With a PINCARD Payment Account, the payment of wages is no longer a problem, and at the same time, employers make a significant contribution to the financial inclusion and integration of their foreign employees into society.
About Fincluded
Fincluded B.V. is a social fintech company located in Utrecht, The Netherlands, and is the creator of the PINCARD Payment Account.
The PINCARD Payment Account is an online account for which financial services are provided by Swan SAS in Montreuil, France. Swan SAS is an Electronic Money Institution (EMI), regulated and authorized by the ACPR/Banque de France with registration number 17328.
Fincluded B.V. is a (non-exclusive) commercial agent for Swan SAS.
As a Customer Service Provider (CSP), Fincluded is responsible for the first-line customer service for users of the PINCARD Payment Account.
Additionally, Fincluded handles the marketing, publicity, and promotion of the PINCARD Payment Account.
Making the difference together
Would you like to know more about Fincluded or about Pincard?
Or, do you have a great idea that you would like to discuss with us?
Please, feel free to contact us.