The United Nations describes climate change as “the decisive crisis of our time”. In a culture obsessed with instant gratification – and where world leaders are entangled in politics – the rest of us can feel helpless.
What exactly can we do to make an impact? Gluing expensive solar panels on the roof? Switch to a plant-based diet? Do you take shorter showers?
Of course, all of these efforts are worthwhile, but there is one surprisingly simple step you can take that can go a long way in combating climate change: change your bank location.
The dirty secret of banking is that banks are making a huge contribution to the climate crisis, investing trillions of dollars of their customers’ deposits in fossil fuels.
That’s why we like Ando, an online banking platform that only invests in companies that direct Combating climate change. Additionally, Ando lets you get paid two days early and doesn’t charge you any of its features.
How switching to a bank can fight climate change
Ando is a state-of-the-art mobile banking platform with all the functions you would expect in today’s digital world. Once you’ve set up direct deposits, you won’t be charged for anything. Here are some of our favorite features:
To be paid two days earlier: When paid by direct deposit, you can access these funds up to two days earlier. Unlike many financial institutions Ando gives you access to Her Money if she to need.
No overdraft fees: In contrast to practically all stationary banks, Ando does not charge you overdraft protection.
Checking account: Ando comes with a Visa debit card with no minimum deposit and easy remote and digital payments.
Referral bonuses: Invite up to five friends to join Ando and you can increase the interest rate on your savings account by up to 5% APY. Plus, you and any friend can earn up to $ 15 using Ando Refer a Friend.
ATMs: With more than 34,000 ATMs across the country, you can withdraw cash with your debit card, free of charge. There is a $ 2.95 fee for ATMs outside of the network.
Customer service: Available seven days a week by email or phone.
Insured: The funds in your Ando account are FDIC insured for up to $ 250,000.
How the other guys use your money
Where do most banks put their deposits – more than 90 cents of every dollar? Fossil fuel companies and their extremely polluting projects. they use Her Money for the climate crisis.
“Most people don’t know that the money we have on their deposits is used by the bank to make loans and buy stocks,” says Ando’s founder JP McNeill. “This is how traditional banks make money.”
The big banks largely fund the fossil fuel industry with nearly $ 3 trillion in the past five years alone.
Where does … come from? Ando Invest your deposits? Clean, renewable energy, sustainable transportation, regenerative agriculture and green buildings. Ando invests exclusively in green initiatives and is 100% transparent about where these investments are made.
How to get started
For too long, you have had no control over how your bank uses your hard-earned money. Now you can do something about it. Sign in to Ando via their app, which is available for iOS or Android.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.