We strive to deliver best-in-class services to you from day one. So we put our social banking wallet through robust testing to ensure bugs are identified and removed before you use Sou Sou Wallet. We will only move forward with the product launch when we can give you the quality our community deserves. So, stick with us – Your opportunity to bank social with Sou Sou Wallet is right around the corner

Save smarter with your crew and Sou Sou Wallet. This social banking app takes social savings traditions that have encouraged financial prosperity for centuries, and modernizes them through the power of artificial intelligence, machine learning, and internet based social networking technologies.

Transfer funds into your Sou Sou Wallet anytime – your regular bank accounts and cards connect seamlessly. Your Sou Sou Wallet holds your general savings, which you can access through your Sou Sou debit or credit card for everyday purchases, as well as your various sou sous.

Yes, you must be a US resident living in the US to open an Sou Sou Wallet.

Traditionally, a sou sou is a type of social savings club that helps groups of friends reach their savings goals. In the Sou Sou Wallet app, a sou sou is where you invest in one of your specific goals. You can have multiple sou sous, each representing different goals.  

A traditional sou sou is an informal savings club widely known in West Africa and the Caribbean that dates back many generations. In its purest original form, a sou sou was a savings arrangement between a trusted group of family and friends. But scammers are using the concept for dishonest means. In a traditional sou sou, the members pay a fixed, equal amount of money into a common fund on a weekly, bi-weekly or monthly basis and take turns getting paid out on an agreed-upon schedule. The group selects a treasurer who collects the members’ contributions. The pool rotates until all members have been paid out their agreed-upon share. For example, if 10 members contribute $100 a week, each week a member may receive a $1,000 lump sum and the cycle would repeat after 10 weeks. The members do not earn interest and there is no reward for recruiting participants. Although there are legitimate sou sous, there are also scams parading as sou-sous that are illegal pyramid schemes.

Our company, Invest Sou Sou, is in no way affiliated with scams and illegitimate sou sou groups. Invest Sou Sou is a licensed and insured financial technology company that builds social banking solutions for banks and governments. Our technology is inspired by informal sou sou traditions. Invest Sou Sou offers a smart social banking wallet that allows people to save smarter, build credit, and send money with people that they know and trust in a safe, secure, and legal way with your local community bank.

Reference:

https://disb.dc.gov/es/node/1510881

Yes, all deposits will be FDIC insured up to the maximum allowed of $250,000 with our partner banks.