First of all, do you know about Social Bank? The bank was founded in 2017 and now has over 1 million registered users. It offers services such as digital accounts, credit cards and personal loans. Are you interested and want to know more about this innovative initiative? Keep reading and we'll explain it to you.

First of all, opening an account is completely free and quick. All you need to do is download the bank's app, available for Android and iOS users, and register. In addition, the bank also offers personal loans in a different way. Find out more below.

Well, Social Bank promises to be an easy-to-use, human bank designed for the people. As such, it does not charge account opening fees or maintenance fees. So, you just need to download the institution's app to open your account. In fact, the process is quick and should not take more than a few minutes to complete.

However, the institution charges some fees depending on the transaction you make with your digital account. Firstly, to make withdrawals at lottery outlets, through Social Pay card machines or through Banco24Horas terminals there is a charge of R$6.99 per transaction.

By the way, attempts to withdraw money and check your balance and statement at Banco24Horas terminals also incur a fee, so be careful. In addition, you can request a Social Bank credit card, although it works like a prepaid card. In other words, you can use it as a cash credit and only when you have a balance in your digital account.

First of all, Social Bank is an entirely digital financial institution. In other words, you can open an account and handle all your banking services online, without leaving your home.

Furthermore, the financial institution does not charge any account maintenance fees, not even opening fees. Therefore, you do not need to worry about surprise charges on your checking account. In fact, one of the pillars of the institution's creation is transparency and respect for its customers.

This way, you can find all the fees charged by the financial institution on the official Social Bank website.

Well, there is no limit for deposits into your Social Bank account. However, if you wish to make withdrawals at Banco24Horas terminals, the withdrawal limit is up to R$1,000.00 per day.

Furthermore, the institution's credit card is linked to a digital payment account. In other words, if you do not have a positive balance in your digital checking account, you will not be able to use your Social Bank card.

First and foremost, Social Bank is based on the digital, social and financial inclusion of its customers. In this way, it seeks to achieve sustainable, collaborative and human development. Thus, it created tools such as Social Cash, which is a financial support among the financial institution's customers.

In this way, people who need credit can request financial assistance from people who are able to offer this credit; both are clients of the institution, but there is no intervention from the financial institution. In other words, it only connects supporters to those who need support and, thus, the creditors themselves define the interest rates on their loans.

In fact, Social also has a tool that analyzes the profiles of those who request support, providing information that allows you to analyze the security of the loan. Thus, Social Score analyzes your economic behavior inside and outside the bank, as well as the legitimacy of your information.

Therefore, the institution always promotes a collaborative environment among its customers, in addition to charging fair fees and seeking to be a sustainable bank. The innovative idea has attracted attention and the bank continues to grow more and more.

Well, if you are interested in opening an account with Social Bank, you should know that the entire process is very easy and hassle-free. In this sense, all you need to do is download the bank's app through Google Play or the App Store and register by providing some personal information.

However, do you want to know the detailed step-by-step process of how to open an account? Then, access our content below and we will help you! Check it out!