By Anna Irrera
Sept 29 (Reuters) – Personal-finance company Credit Karma said on Tuesday it would launch a checking account to U.S. members this year, making it the latest fintech to join the crowded digital banking market.
Credit Karma Money Checking will initially be available only to those members who hold a savings account with Credit Karma, the San Francisco-based company said.
Opening a checking account will require no minimum balance or deposit requirements, it added.
The service will be available more widely in early 2021 with offerings being added throughout the year.
Credit Karma, which has 100 million members in the United States, Canada and the UK, is best known for letting customers access their credit scores and some other personal finance tools for free. It also offers third-party credit cards and loans to customers, tailored to their credit history.
Several fintechs have been expanding the types of