Banking for Freelancers

Part
01
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Part
01

Financial Institutions Targeting Freelancers

The Gig economy, freelance workforce, work-on-demand sector, digital nomads; these are just some of the terms used to refer to individuals who work remotely or are self-employed. According to NASDAQ, 43% of the U.S. workforce will be freelancers by 2020. In 2016, 34% of the American workforce were freelancers. Despite the rapid rise, research on the topic shows that there are not a lot of financial institutions and banks that cater to the needs of the so-called gig economy in the US.
This research looks into four financial institutions that offer products geared towards the freelance community. The companies are as follows: Seed, TransferWise, Azlo and Capital One. Zero fees for transfers, no minimum deposits, hassle free mobile payments, easy invoicing, debit cards and fast application are just a few of the attractive features that these companies offer.

Conclusion

Details about the products being offered by the companies mentioned above are specified in the spreadsheet titled Banking for Freelancers.
Sources
Sources