The new Prósperos store location is home to a unique mobile bank platform that aims to educate and provide immigrants throughout the country access to fee-free financial services to cash their checks and send funds to Latin America
In celebration of Hispanic Heritage Month, Prosperos, a new mobile financial platform, will mark its grand opening at 622 East Alisal Street #2 in Salinas, CA, on Thursday, October 10, 2024, from 5:00 pm to 6:30 pm. This opening also serves as the launch of a platform offering services not only locally, but also across the U.S. and throughout Latin America.
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Co-founded by Vinay Pai, a technology executive, and Salvador “Chava” Chavez, the son of farmworkers, Prosperos is committed to providing immigrants with fee-free banking services and money transfers. Salvador witnessed his father’s struggles to access basic financial services while supporting his family both in California and Mexico. Vinay and Salvador have dedicated themselves to helping immigrants save money and access financial education through this platform.
Prosperos helps users avoid the high fees often incurred for check-cashing and money transfers to Latin America, which can amount to as much as $1,000 annually. By using a Prosperos card, users can eliminate fees for sending money to Mexico and other eligible countries (transferring funds in just seconds), while being able to see how the money is being used. In addition, the platform provides financial education resources to empower and support the traditionally unbanked community.
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