AgentBee spoke with Tahem Verma, Co-Founder at our new partner North Loop.
1. Describe North Loop in a few sentences.
North Loop is a bank for international students in the US.
We provide a FDIC-insured checking account and Visa Debit Card to students without requiring a social security number – they can sign up before they come to the US, so its waiting for them when they arrive. Students can sign up online in 5 minutes.
North Loop charges no incoming wire fees, no account fees, no ATM fees and no account minimums.
2. How does North Loop help international students?
North Loop helps international students start their banking journey in the US with a simple, easy-to-use free bank account. With our account students will save hundreds of dollars in fees, and get access to amazing rewards and discounts for student health insurance and other products.
They can also get a credit card without any credit history.
We charge no foreign transaction fees and have a global 24/7 customer support service.
3. What role do education agents play in your business growth strategy?
We are partnering with agents to help promote our product. They are our pillars for growth as we look to recruit US-bound students.
As someone who has come from a family of agents, I understand them and their needs. We hope to grow with our agent partners so that everyone benefits!
4. What are the benefits for agents who work with North Loop as a partner?
We have a comprehensive and supportive agent partnership program. We offer agents a referral fee when a student signs up for one of our bank accounts, and a commission on student loans (calculated on the loan amount).
Aside from commissions, agents will benefit from our many products that we offer students, thereby increasing their own base of students. For example, we provide extremely competitive education loans so agents can increase their base of students by widening the net of potential applicants who may not have looked to the US due to financing issues.
5. What are you looking for in a new education agent partner?
We are looking to partner with agents who are sending students to the US, and are interested in providing a great experience for their students. Our bank ensures that these students have a great intro to the US, as all their money hassles are solved and they can focus on getting oriented to their college life instead.