About Modak

What is Modak?

Modak is a US-based fintech company that offers a Visa secured credit card and a checking account for teens through its relationship with Solid Financial Technologies, and its partner banks, Members FDIC. Through Modak, Teens can start building credit scores, gain financial literacy, and earn cashback at 100,000+ merchant locations across the US. Modak is supported by GGV Capital, Nazca, and 35+ leading investors and entrepreneurs.

Are there any fees?

There are no hidden fees associated with Modak. We don't charge for opening a card and most of our services. However, if you need expedited or premium services, our app will show you and ask for your permission before charging the fees. If not, you can use our regular services - which is most of our services -for free!

How does Modak keep sensitive personal info safe and secure?

We have implemented several ways to protect your personal information:

  • Encryption: All sensitive information is encrypted in transit standard protocols. 
  • Access controls: Access to sensitive information is restricted to a limited number of authorized personnel, who are subject to background checks and ongoing security monitoring.
  • Data protection policies: Modak has established strict data protection policies, including data retention and deletion policies, to ensure that sensitive information is not retained for longer than necessary.
  • Compliance: Modak adheres to relevant security and privacy regulations, including those imposed by the Consumer Financial Protection Bureau (CFPB), to ensure that sensitive information is handled in a manner that meets the highest standards of security and privacy.

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What is the MoCard account for?

A MoCard is a secured credit card through which you can spend your money, build a credit history, and earn/spend rewards points (Mobucks) for healthy behaviors.

How do I know Modak is safe?

Modak's upcoming secured credit card will be supported by renowned partners in the financial industry. By partnering with these established institutions, Modak is committed to adhering to all state and federal finance and banking regulations. As we approach the launch of our secured credit card, we will be sharing additional information about the benefits and features that our cardholders can expect. Stay tuned for further updates.

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