Originally reposted from: US Credit Card Guide

"2024.6 Update" After holding the Fierce checking account for a while, people have noticed two obvious issues with this bank:

  • You may not receive the account opening bonus
  • You may not receive the referral bonus

If you have other checking account options, we do not recommend applying for this account. It may be safer to move your funds out sooner rather than later.

"2024.1 Update" The checking account APY is now 5.25%, with interest accrued daily. It is unclear how long this high rate will last, so those who join earlier can enjoy it first. This is especially relevant for ITIN applicants, since the window of opportunity may be limited.

Application Link

  • Referral Bonus: $25 (It is recommended to open the link in an iPhone mobile browser. After account approval, link a bank account and deposit $250.)
  • You must apply through the link, enter your first name and email, and then download the app to register.
  • If you see a message saying the refer limit has been reached, click again.

Company Overview

The Fierce platform is governed and operated by Fierce Technology, Inc., a technology service provider founded in 2021. It works with multiple third-party institutions to provide banking services, brokerage services, cryptocurrency services, and other financial services. Banking services are provided by Cross River Bank, brokerage services are provided by FIN2, LLC, and cryptocurrency services are provided by Paxos Trust Company, LLC.

Fierce Checking Account Overview

Fierce's partner bank for its checking account is Cross River Bank. The account comes with a debit card, has no monthly fee, and no minimum deposit requirement. You can connect an external bank account through Plaid to transfer money in and out (funds typically post within 1-3 business days). As of January 3, 2024, the APY is 5.25%, with interest settled daily. The account is FDIC-insured up to $250,000.

How to Open the Account

  • First, click the application link above and enter your name and email.
  • Scan the QR code to download the app (the Android app is still in development; currently only the iOS app is available).
  • After downloading, open the app and enter your personal information as requested (full name, email, nationality, date of birth, address, SSN/ITIN, etc.) to complete registration. Once done, the account is opened successfully.
  • Use Plaid to link an external bank account and make a deposit (minimum $50 per deposit). After that, your checking account number will appear (you must deposit $250 within 30 days and maintain that balance for at least 30 days to receive the $25 account opening bonus; after receiving the bonus, you cannot close the account within 90 days).

Checking Account and Debit Card

Fierce comes with a checking account and a debit card. The debit card looks very similar to the Apple Card. Details below:

Checking Account

  • The Fierce checking account is provided by Cross River Bank, with a minimum deposit of $50 each time you fund it.

Debit Card

  • Fierce provides a debit card whose appearance closely imitates the Apple Card. The card is only issued after you fund the account.

Referral Bonus

Application link:

  • If you see a message saying the refer limit has been reached, click again.
  • Referral Bonus: $25 (It is recommended to open the link in an iPhone mobile browser. After account approval, link a bank account and deposit $250.)
  • You must apply through the link, enter your first name and email, and then download the app to register.
  • Each account can refer up to 10 people (based on approved account openings), for a maximum of $250 in referral bonuses.

Note: If the app lags when you try to export your own referral link, you can use the following method to fix it:

Things to Know

  • ITIN/SSN applications are supported. If you apply with an ITIN, you must have some banking history or credit history; otherwise, you may need to provide additional documents (a US ID or visa page).
  • VoIP virtual phone numbers are not supported for registration, such as Google Voice.
  • For tax status, you must select US Taxpayer; otherwise, you will not be able to continue.
  • When entering your address, do not click the system-recommended autofill, or the app may crash.
  • It is recommended to use a native US IP address throughout the process.
  • Applicants with an SSN usually have a smoother approval process. Those with only an ITIN may need to complete additional verification (though instant approval is still possible).
  • NRA online applications are not supported, but the bank does not enforce this strictly.
  • A 1099-INT tax form will be issued for the bonus (RA). This form itself does not impose identity-status restrictions and can be filed normally.

If you have a newly issued ITIN, you may not be able to open the account at first. In that case, uploading a US ID (such as a driver's license) and your US visa page may be enough to get approved:

Application Link

  • Referral Bonus: $25 (It is recommended to open the link in an iPhone mobile browser. After account approval, link a bank account and deposit $250.)
  • You must apply through the link, enter your first name and email, and then download the app to register.
  • If you see a message saying the refer limit has been reached, click again.

Summary

A checking account earning 5.25% APY and covered by FDIC deposit insurance sounds extremely attractive—the earlier you get in, the sooner you can enjoy it.