Checking and Savings Accounts
10% of American households do not have a primary checking account, and 20% are under banked, meaning they rely on payday lenders, check-cashing services, and pawn shops. When an injured individual settles their claim, this means 1 in 5 injured individuals might use one of these predatory check-cashing services, losing around 10% of their very important and valuable settlement funds. Sometimes banking issues can even prevent settlement. In response to these struggles, Ametros developed Ametros Checking and Savings Accounts for indemnity payments or funds paid for pain and suffering that are received in a settlement.
These free accounts can also be set up and coordinated with an injured individual’s structured settlement annuity payments and are specifically created for settlement funds. Ametros and our banking partners understand the nuances of settlements, so there are no minimum balances, no fees, and funds clear overnight, much faster than a traditional bank. Any settling individual can open an account, regardless of poor banking history, allowing all individuals access to the banking support that they need.