7/17/2014 9:31:30 PM | less than a minute read

A Shot at Banking Behind Bars

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Gareth Jones

Co-Founder, FinTech Collective

Get in touch

Gareth Jones

Co-Founder, FinTech Collective

We are not sure that a former bank robber is the ideal candidate to set up a prison banking service. However do believe that improving financial literacy and helping inmates build some sort of a financial footprint before they are released will help reduce recidivism.

We're working with APDS (who are not former bank robbers) to try and make this a reality.

Prisoner Assistant requires clients to grant power of attorney to the company and charges a monthly fee, starting at $5, to manage an inmate bank account. For $24 a month, Prisoner Assistant will pay bills, pick up mail, make wire transfers and help an inmate get credit cards and lines of credit. The most expensive package costs $50 a month.

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