The United Nations calls climate change “the decisive crisis of our time.” In a culture obsessed with instant gratification-world leaders are involved in all this politics-the rest of us may feel helpless about it.
What can we do to make an impact? Put expensive solar panels on the roof? Switch to a plant-based diet? Shorter shower time?
Of course, all these efforts are worthwhile, but you can take a surprisingly simple step to deal with the significant impact of climate change: change your bank location.
The dirty secret of the banking industry is that banks are huge contributors to the climate crisis, investing trillions of dollars in customer deposits in fossil fuels.
That’s why we like Ando, An online banking platform that only invests in the following companies directly Responding to climate change. Most importantly, Ando allows you to get paid two days in advance and never charges for any of its functions.
Changing how banks are responding to climate change
Ando is the most advanced mobile banking platform with all the features you expect in today’s digital-first world. Once you set up direct deposit, it will never charge you any fees. Here are some of our favorite features:
Get paid two days in advance: When you get paid through direct deposit, you can use these funds up to two days in advance. Unlike many financial institutions, Ando allows you to visit Your When is the money you Need it.
No overdraft fees: Unlike almost all physical banks, Ando does not charge you an overdraft protection fee.
checking account: Ando comes with a Visa debit card, there is no minimum deposit requirement, and remote deposits and digital payments can be made easily.
Referral bonus: Invite up to five friends to join Ando, and your savings account interest rate can be increased up to 5% APY. In addition, you and each friend can earn up to $15 through Ando friend recommendations.
ATM: You can use your debit card to withdraw cash for free at more than 34,000 ATMs across the country. The fee for an ATM outside the network is $2.95.
customer service: It can be contacted by email or phone 7 days a week.
Insured: The funds in your Ando account are underwritten by the FDIC, up to a maximum of $250,000.
How other people use your money
Where do most banks invest your deposits — more than 90 cents per dollar? Fossil fuel companies and their ultra-high pollution projects.They are using Your Money to deal with the climate crisis.
“Most people don’t realize that our deposits are used by banks to issue loans and purchase securities,” said Ando’s founder JP McNeill. “This is how traditional banks make money.”
Large banks mainly provide funding for the fossil fuel industry, which has reached nearly US$3 trillion in the past five years alone.
Where Ando Invest your deposit? Clean, renewable energy, sustainable transportation, renewable agriculture and green buildings. Ando invests exclusively in green initiatives and is 100% transparent about the source of these investments.
How to start
For a long time, you have no control over how the bank uses your hard-earned money. Now what can you do. Signed with Ando Through their app, the app is available for iOS or Android.
Mike Brasfield ([email protected]) Is the senior writer of The Penny Hoarder.