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What is Arival?
Arival Bank is a digital bank based in the US, specifically licensed by the Office of the Commissioner of Financial Institutions in Puerto Rico. It provides secure digital banking solutions tailored for global businesses. The bank offers features like multi-currency accounts, international payments, and dedicated account management.
Arival Bank is noted for its strong security measures, including SOC 2 Type 1 and Type 2 certifications. It caters to the needs of businesses looking for efficient and comprehensive banking services on a global scale.
Features of Arival
- Security: SOC 2 Type 1 and Type 2 certifications ensure strong security measures.
- Global Mindset: USD checking, multi-currency accounts, and international payments all in one app.
- Licensed & Regulated: Fully compliant with banking regulations under OCIF oversight.
- Dedicated Account Manager: Premium accounts receive personalized support.
- Advanced Features: Arival Premium accounts provide broader team access and reduced fees.
Pros of Arival
- Security: Proven with SOC 2 Type 2 certification.
- Global Reach: Offers multi-currency accounts and international payment services.
- Advanced Features: Includes broader team access, premium support, and reduced fees for Premium accounts.
- Dedicated Account Manager: Provides personalized assistance for Premium account holders.
Cons of Arival
- Application & Onboarding Fees: One-time fees might be a barrier for some businesses.
- Minimum Balance Requirements: Not all businesses can meet the minimum balance criteria for Premium accounts.
FAQs:
What sets Arival Bank apart in terms of security?
- Arival Bank has completed SOC 2 Type 1 and Type 2 certifications, showcasing its commitment to robust security measures.
How does Arival Bank cater to global businesses?
- Arival Bank offers USD checking, multi-currency accounts, and international payments within a single app, addressing the diverse needs of businesses operating globally.
What advantages do Arival Premium accounts offer?
- Arival Premium accounts come with advanced features such as wider team access, premium support, and lower fees, enhancing the banking experience for exclusive needs.
