Hank for You
Hank is a bank-enabled technology platform that acts as a consumer's personal, financial concierge using powerful tools to automate the complexities of personal cash flow management.
To build BANK, you have to reduce your debts and use the cash you save to build savings and investments.
Hank's Platform
Hank is an amazing tool that can help you find money in existing cash flow. Hanks automates your payments so that you always know how much is money left in your day-to-day bank account is available to spend, because the bills have been taken care of. Plus a little more to pay them off sooner! When Hank builds up excess cash, he applies that extra cash to your next most expensive interest rate loan to start reducing that balance.
Hank does all the things that you weren't taught in school when it comes to managing personal financial wellness. Hank runs all day, every day, looking after his customers to make sure they are financially well.
FIND OUT WHAT WORKS FOR YOU
And Allow Hank to do More of That
Budget Management
Hank looks at all monthly payments in relation to when consumers get paid and determines how much Hank's sponsor bank should debit on a weekly, biweekly, monthly or semi-monthly basis.
Financial Wellness
Hank's proprietary technology instructs Hank's sponsor bank to automatically release cash to the bank, lenders, credit cards companies and/or others payees on your behalf. In other words, no more check writing or need to figure out your cash flow. Hank handles it all.
Payment Security
Hank's sponsor bank takes the debited funds and stores them in your Hank Bank prepaid account until various monthly payments are due.
Who Uses Hank?
Tens of thousands of Americans use Hank every day to manage their personal finances. We accept virtually everyone with loans or bills to pay into the Hank platform. Whether you have good or bad credit, Hank can help you on your journey to financial wellness.
Hank accepts everyone with a bank account, and soon, Hank will accept anyone without a bank account, too.
How Does Hank Work?
Well, it's complicated. But cash flow management and payment management is complicated. We take complicated and make it simple for you, while complicated things are still happening behind the scenes. Still sound complicated?
Hank looks at all your cash coming in and on what days that happens - like payroll and direct deposits.
Hank then looks at all your payments going out - which are seldom on the same day you get paid. (Sigh...)
Then, Hank does the financial math for you. A LOT OF MATH! Hank looks at your highest cost loans, all of your other payments and when you get paid in relation to what you have to pay out.
Hank then sets up your personalized payment plan. For example, instead of 10 different debits on eight different days, Hank will debit you four (or one, two or three, etc.) times per period. Hank makes those debits big enough to build up cash to make your payments, but small enough to make sure you still have enough money to live on.
Hank calculates and recommends those amounts and your expected savings. You then review and agree. (Keep in mind you can change it at any time).
With your approval, Hank activates your debit and payment plan and runs daily, doing exactly what you agreed to. Hank debits and credits your account automatically on a payment cycle that works best for your cash flow.
How can Hank Help You?
Easy Assisted Setup
Many people use Hank for just one loan, like their car for example. The majority of people use it to run their entire household's cash flow, so they know how much money is left in their bank account to spend because their bills are handled. Hank's Power-Users process an average of 30+ payments per month.
Total Control
Being in control of your finances is important: It reduces stress and ensures you are on a healthy financial path. But few people are educated on how to properly manage their money. Hank puts you back in control of your finances.
Super Convenient
As a Hank user, you will enjoy unprecedented convenience without feeling the impact on your monthly cash flow. Hank takes the stress out of budgeting your cash until next payday.
Frequently Asked Questions
Yes. Not only is Hank a safe way to manage your money – it’s the best way.
Hank partners with banks and the Hank system tells the banks when to debit your bank account based on the payment strategy you have selected. Only that bank touches your money – Hank never touches your cash.
Our bank partners operate under Federal licenses and provide FDIC insurance on your deposits as they build up towards making your payments on time.
When it’s time to make a payment, Hank tells the banks to release payments to your lenders or bills. The bank, instructed by Hank, makes your payments for you.
What all of our customers have in common is that they want convenience and discipline in their financial lives. Hank delivers both.
Getting started has never been easier: Simply contact Hank’s Enrollment Specialist at 1-833-HANKPAY to begin your journey to financial wellness with Hank.
Testimonials
Successful
Client Stories
I love it! Setting it up was quick, easy, and very convenient. I was referred to them after I purchased my new vehicle for bi-weekly debit payments. It is very helpful for me and a great way for me to budget funds. I have recommended Hank to friends and family."
Bay S
