Zero Revenue and Competitors

Zero is the first modern banking experience to combine the simplicity of a debit card with the cash back of a credit card. Zero is powered by a checking account (Zero Checking) to hold your money, a credit card (Zerocard) that makes great rewards possible, and the Zero app, which combines things seamlessly. With Zerocard, you can get cash back of 1.0% to 3.0% on your spending and additional rewards. There are four levels of Zerocard, which vary in terms of the cash back rate they earn. Zerocard Quartz earns 1.0%, Zerocard Graphite earns 1.5%, Zerocard Magnesium earns 2.0% and Zerocard Carbon earns 3.0%. To earn these rates on higher level cards, your statement balance needs to be paid in full from your Zero Checking by its due date; the app?s recommended Debit-style Experience helps ensure this. With Zero Checking, you can earn 0.50%, 1.00%, and 1.75% annually on average Current Position rewards (your deposits minus your spending) at the Graphite, Magnesium, and Carbon levels respectively. Level up by meeting annual spend requirements or by inviting friends to apply and become customers who add payroll direct deposit and make a couple of qualifying transactions (see Zerocard Agreement for complete details). With Zero, there are no annual, maintenance, overdraft or foreign transaction fees. Zerocard is usable at ATMs and you don?t pay any ATM fees beyond what the ATM owner charges. At the Carbon level, all ATM fees are refunded, including what the ATM owner charges. The Zero app with Zero Checking also lets you send and receive same-day ACH transfers and direct deposits, deposit checks by taking a photo (coming soon) and send paper checks from the app (coming soon), all without any fees.