The new Samsung Money debit card has been released in the United States and it comes with a few key perks but one very limiting restriction…
Back in May, we learned that Samsung was following Apple and Google and developing its own payment card to enter the fintech world. Now, the South Korean tech giant has made it available in the United States. And, it comes with some pretty attractive perks. However, it does have one head-scratching stipulation that will certainly limit its reach.
The Samsung Money Debit Card is Now Available in the US
The new Samsung Money account will offer some compelling benefits, including deposit insurance, competitive interest rates, along with inexpensive maintenance and withdrawal fees. Plus, cardholders will earn points on purchases, though details of the reward system aren’t yet available. What’s more, anyone who opens a new account with $1,000 will be automatically entered into a contest that will match that amount toward their next Samsung purchase.
But, there’s a catch, of course. Not just anyone can apply for an open a new Samsung Money debit account. The service is only available to people with Galaxy devices and they must hold on to said devices in order to continue to use their accounts. So, if a Galaxy owner does sign up for the service, he or she must stay in the Samsung ecosystem in order to continue to use his or her account.