JORDAN

What is Linc, Jordan's mobile banking for youth

linc bank

LINC offers services that are combined with an integral financial education incentive for its clients, as they offer courses that are backed by Bridge International — whose main objective is the spread of educational equality in regards to personal economies. 

What is LINC?

LINC is a neobank created by the Cairo Amman Bank, a very well-established full-service bank in the country of Jordania. LINC aims to satisfy the demands of a key sector of the market, college students and young adults.

They claim to be the first “youth-focused bank” in Jordan. They provide typical everyday services such as personalized products to customizable App interfaces. They also, in addition, offer specialized learning courses that go from foreign languages classes and communication skills to business, finance, and management.

It’s an innovative neobank aimed at the tech-savvy and also those that strive to further their academic knowledge.

According to their official LinkedIn profile page, the “L” shows their desire to enhance the learning experience for customers. “I” stands for imagination, making themselves a  beacon for inspiration. “N” is for networking, something that nowadays is vital for any type of person or business trying to get ahead. They help clients achieve this by offering public meeting venues, and hubs where social gatherings are encouraged. The “C” represents the notion of clients creating their own path in life.

LINC dynamic deployment and adoption is proof that today’s clients are not solely on the lookout for a bank, but for a place where they can integrally satisfy their economical, social, and educational needs. They want an experience, not just a product or service. 

History of LINC

LINC is a neobank that was brought to life in 2019. It is a creation of another rather well-known full-service financial institution, the Cairo Amman Bank. 

The Cairo Amman Bank was established in 1960. It holds a reputation of being one of the main financial players in that region, as they have leveraged their capital and funding throughout five decades in order to promote Jordanian economy. The Cairo Amman Bank has been providing distinct services to fulfill their clients’ needs. And its spin-off product, LINC, is no exception to this practice.

Being avant-garde is its DNA, as the Cairo Amman Bank - its forefather - is itself a pioneer when it comes down to using breakthrough technologies to improve a user's financial journey. For example, Cairo Amman Bank was the first bank ever to use iris detection to secure personal accounts. They employ the full power of today’s technology to give clients dynamic user experience, like SMS banking, and analytics — also, in partnering with legendary companies like Bridge International, and Bayt.com they provide an added value, one tied to a consumer's growth.

Features of LINC

LINC holds a wide range of banking solutions. 

What LINC users will mostly benefit from is the adjacent features, given that they offer educational and social assets that no other company does or seems to have thought of doing before.

Basic Account

Users can withdraw and deposit cash, check deposits in the account, make outbound and inbound bank transfers, get an issued secure debit card, access e-Banking services, and make use of biometric identification tools with their LINC account.

Current Accounts

This type of account is oriented to those that desire to make daily transactions. The upside is that both Jordanian and non-Jordanian clients can request for a current account.

LINC enables people to open accounts in any type of currency, have access to 24-hour ATM withdrawals, perform interest-free credit transactions, get a free debit card, receive free Online and e-Banking services, track transactions via SMS, receive monthly e-Statements, and get a free balance fee reductions if they follow certain guidelines — like minimum account balance.

Saving Accounts

Both Jordanians and non-Jordanians can open up saving accounts. One restriction nevertheless is that it has an age cut off rate at 40; only those younger than 40 years old can open one. 

Some of the features it possesses are opening accounts in any currency, 24-hour cash withdrawal using LINC ATMs, obtaining a free debit card, free Online banking service, free SMS for transaction tracing, issue of monthly e-Statements, and a free minimum balance fee. 

Another warning is that the minimum amount for opening the account is 100 Jordanian dinars (150 Dollars as of 2021)

Personal & Real Estate Loans

LINC not only provides banking opportunities for growth, it also promotes them with key banking tools such as loans. Users can obtain personal and real estate loans.

Scooter, Motorbike & Car Loans

LINC does not restrict loans to real-estate related needs. LINC customers can also ask for scooter, motorcycle and car loans as well.

Additional Features

Some bonus features included in LINC’s network of benefits are SMS banking, setting up IBAN numbers for bank accounts, PayPal, and accessibility options for people with disabilities.

Extras of LINC

One of the features that differentiate LINC and also one of the most impressive is that it helps foster education amongst the Jordanians. With their Bridge International partnership, students will be able to pay loans at an astounding 0% rate for 36 months, as long as they manage to maintain level 7 Diploma status. This gives the chance and further incentive to earn a Master’s.

Additional perks of LINC members comprise digital hubs, special free WiFi hotspot with broadband Internet access, learning courses, and entrepreneurial support.