Legal
The plain facts about what Microbanking is, what it isn't, and what it costs to use.
Microbanking is a demonstration banking platform, built for internal testing and educational purposes. It is not a real, chartered, or regulated financial institution, and no real money moves through it.
Regulatory Licensing
Microbanking is a demonstration platform, built to showcase personal and corporate banking workflows in a safe, sandboxed environment. It is not a chartered bank, and does not hold, or hold itself out as holding, any banking license, charter, or approval from any state, federal, or international banking regulator.
Operating Jurisdictions
Because Microbanking is not a licensed financial institution, it is not authorized to conduct real banking business in any jurisdiction. The platform exists solely for internal testing, demonstrations, and education, and should not be treated as available anywhere for real financial activity.
Legal Entity Information
"Microbanking" is a fictional brand name used for this demonstration platform. No company is incorporated or registered as a financial institution under that name, and there is no registration number, tax ID, or registered address to disclose, none is required for a platform that holds no real funds.
Insurance Details
Account balances shown within Microbanking are simulated figures generated for demonstration purposes. No real money is held on deposit, and as a result, no deposits are insured by the FDIC, NCUA, or any other deposit insurance provider, in the United States or elsewhere. Nothing on this platform should be relied upon as evidence of real deposit insurance.
Fee Schedules
These are the actual fees and rates configured in the platform today.
| Fee / Rate | Amount | Applies To |
|---|---|---|
| Overdraft fee (checking) | 75% of the purchase amount, up to $500 overdrawn | A card purchase that overdraws a regular checking account. Teen accounts never overdraw |
| Overdraft fee (business) | $35.00 flat | A charge that overdraws a business account |
| Minimum balance fee | $1.25 a day (never more than the balance) | A regular checking account below $50, until the balance is back above $50. Teen accounts are exempt |
| Card annual fees | $0 to $2,995 a year by card | See each card on the Cards page |
| Micro card late payment fee | 3% of the overdue balance | The Micro card is a charge card: each statement is due in full |
| Corporate transaction tax | 1%-8%, tiered by amount | Charges on a card tied to a company with a configured tax profile |
| Credit account penalty rate | 0.05% of balance owed, per cycle | Outstanding credit account balances |
| Savings yield | 0.01% of balance, per cycle | Savings account balances |
Rates and tiers shown reflect this demonstration platform's configured defaults and can be changed at any time. They do not reflect real-world interest rates, tax law, or banking fees.
Card Terms
- Teen accounts. A teen aged 13 to 17 has a separate checking account in their own name. The parent or guardian has no access to it, and may only ask for information about it at a branch with identification. The parent or guardian is legally responsible for the teen's purchases with the card. Statements go to the teen. The account never overdraws. On the teen's 18th birthday it becomes a regular checking account and the teen card stops working immediately.
- Credit decisions. Credit cards are decided from your credit score, income and time with Microbanking. If an application is declined you may ask a person at the bank to review it; that review uses a risk score alongside your credit score.
- The Micro card. Offered by invitation only. It is a charge card issued by Microbanking that uses the American Express network for acceptance only. The account, benefits, fees, support and approval are Microbanking's. It is not an American Express product and is not a partnership with American Express.
- Cashback. Cashback is credited to the card statement each month for the purchases of the month before, at the rates shown for each card. Returned purchases reduce it.
- Security codes. NexoPay and OrangePay cards have a 3-digit security code. The Micro card has a 4-digit one.
Compliance Disclosures
Identity checks performed when opening an account are run against a simulated Social Security registry, and business tax IDs are collected but not verified with any government agency. No real anti-money-laundering (AML) screening is performed, because Microbanking is not a real financial institution and does not process real funds. Names, balances, and transaction details entered into this platform should be treated as demonstration data only. This platform must not be used to store, transmit, or represent real financial information.
Questions about this page can be directed to [email protected].