Fair is ethical, membership-based online banking. Membership is free.
Many banks charge you additional fees, without you clearly knowing or understanding when they will be charged or for how much. While these are often outlined in lengthy terms & conditions, bank fees are usually a surprise for most people when they see them on their bank statement. With a no-cost Fair membership, there are no fees for using ATM’s, sending money internationally, or simply keeping your account active. Also - no overdraft fees!
We are upfront about our free membership model and we don’t charge hidden fees.
Additionally, Fair practices socially responsible investing (SRI), an approach to investing that reduces exposure to companies that are deemed to have a negative social impact, such as companies that profit from poor labor standards, harmful products, or environmental devastation. Fair also practices environmental, social, and corporate governance (ESG) investing measures with a focus on the sustainability of an investment and its overall impact. Lastly, we donate 2.5% of our profit to refugee causes globally.*
*All donations to refugee missions are screened carefully to ensure compliance with the USA PATRIOT Act and international global sanctions programs. Charities are not vetted or OFAC-screened by Coastal.
Fair currently offers members:
Your Fair Spending Account is FDIC-insured up to $250,000 per depositor through Coastal Community Bank, Member FDIC. Your Fair Wealth Building Account is managed by Fair Invest and is SIPC-insured. Learn more about coverages and the differences between the FDIC and SIPC here.
No. Fair’s products and services are exclusively available to Fair members only. Because membership is FREE there's no reason not to sign up! Join here.
No. You do not have to be a U.S. citizen or permanent resident to be a Fair member. You can be a visitor living in the U.S. or an international student.
Fair offers digital banking and financial services on your mobile device or anywhere you have internet access.
Fair members can visit any major bank in the U.S. to make cash withdrawals and use over 55,000 Allpoint ATMs with no fee. ATMs not included in the Allpoint network may include fees assessed by the third-party ATM provider⁷.
No. You can have a $0 balance for 90 days before your account will be put “on hold.” As a Fair member, you can reinstate your account at any time by making a deposit or transferring funds into the account.
The Fair membership experience is currently only available in English. We will be adding more languages in the future. If there’s a particular language you’d like, you can submit a request via the Contact Us form.
You can cancel your membership via the members portal.
You can sign up for a membership here!
Membership is free.
Yes! Visit the tutorials here.
While an international transfer is processing, the transaction can be viewed in “Send History” under “Move Money”. Once the transfer is processed it will show up in your recent history.
Remote check deposit allows you to deposit checks into your Fair Spending Account anytime, anywhere with the use of your smartphone. Simply open the FairPay mobile app and login to get started!
“Interest is the income received from bonds, bank CDs, saving accounts, bank money market accounts or loans made as a lender. Dividends are paid to shareholders of stock as a portion of the company profits and all investment company distributions are classified as dividends.” (Sapling)
Dividends are paid monthly at the discretion of Fair Invest (on the 7th of each month). At the end of the year, Fair members who are enrolled in a Wealth Building Account will receive a 1099-DIV from FAIR Invest, LLC showing their dividend income from Fair. Please consult with your Accounting Professional on classification of the dividend income. Fair cannot give any accounting advice.
Fair Invest is registered as an investment advisor with the Securities and Exchange Commission (SEC). Fair Invest is owned by Fair and is the entity making the investments for members who have a Wealth Building Account.
Fair Invest LLC puts your Wealth Building Account balance to work by investing in dividend-paying assets. We pass a large portion of those payments back to you each month in the form of dividends.
The return on your Wealth Building Account is 4% annually¹ᵈ, and it’s paid monthly at the discretion of Fair Invest (on the 7th of each month). There is NO minimum balance requirement, and NO cap on your balance that is eligible for dividends.
Wealth Building Accounts are protected by SIPC insurance for Fair Invest, LLC. SIPC insurance covers customer claims up to $500,000, with a maximum of $250,000 for cash claims. For details on the types of losses and events SIPC insurance covers, please visit SIPC.
Risk is mitigated and assumed by Fair Invest LLC, so members’ invested principal will not be impacted by such losses. For details, see our Terms & Conditions.
Yes. The money in the Wealth Building Account is completely liquid. It can be moved or withdrawn for cash at any time.
Fair members earn dividends in their Wealth Building Account at the rate of 4% annually¹ᵈ. There is no minimum balance requirement, nor is there a maximum cap.
Dividend earning is compounded, which means you earn dividends on your initial balance plus what you earn in the account every month. Account dividend earnings are paid on the 7th of every month at the discretion of Fair Invest.
No. Fair does not charge members any fees for the Wealth Building Account. All Fair account features are included with a free membership.