# Zenus Bank: US Digital Bank for Non-Residents with an IFE License > Zenus Bank (Puerto Rico, IFE-061, OCIF): USD accounts for non-US residents, remote onboarding, Visa Infinite debit card. Fees, limits, who it suits. Author: Гордей Болотько — партнёр, Corporate & Commercial (https://wiki.private.law/authors/bolotko) Last modified: 2026-07-30T15:42:00.000Z Canonical: https://wiki.private.law/en/zenus-bank Topics: banking Jurisdictions: usa, puerto-rico Functional tags: personal-banking, corporate-banking, neobank Semantic tags: personal-banking, corporate-banking, neobank Article type: child --- Zenus Bank is a US digital bank headquartered in San Juan, Puerto Rico, built for people and companies outside the United States: a US-based USD account without US citizenship, residency or a US address, opened fully remotely. Legally it is Zenus Bank International Inc., licensed under Puerto Rico's International Financial Entity regime (licence **IFE-061**, Act 273-2012) and supervised by OCIF — the same regulatory perimeter as [FV Bank](https://wiki.private.law/en/fv-bank-digital-asset-custody), its neighbour on the island. The bank was founded in 2019 by Mushegh Tovmasyan (ex-Divisa Capital/Equiti) and launched to the public in October 2021. Figures below come from [zenus.com](https://zenus.com/), verified 2026-07-23 (tariff details re-checked 2026-07-30). ## What the service is Zenus sells one core promise: US dollar banking for non-residents of the US, with app-based onboarding instead of a trip to a branch. The line-up covers Personal, Business, Corporate and Institutional accounts, all USD-denominated, with domestic US wires, international wire/SWIFT payments in 40+ currencies, and virtual plus physical **Visa Infinite debit cards**. Unlike the classic app-first providers in [our neobank overview](https://wiki.private.law/en/neobanks), Zenus is not an neobank riding on a partner bank — it holds its own licence and is a Principal Member of Visa. Since 2024 the bank has also run an embedded-banking (BaaS) line: an API through which fintechs get dedicated USD accounts, international payments and white-label Visa card issuing on top of the Zenus licence. One thing Zenus explicitly does not do is crypto: the bank does not service crypto-related activity, per its own support pages. For a US-territory IFE that does combine banking and digital assets, see [FV Bank](https://wiki.private.law/en/fv-bank-digital-asset-custody). ## Key parameters | Parameter | Value | | --- | --- | | Legal entity | Zenus Bank International Inc., San Juan, Puerto Rico (founded 2019, launched October 2021) | | Licence | International Financial Entity (IFE), Act 273-2012, licence #IFE-061; regulator — OCIF Puerto Rico | | Deposit insurance | None — the IFE regime sits outside the FDIC perimeter; full-reserve model, segregated funds, insurance policies | | Clients | Non-US residents worldwide (150+ countries minus the bank's exclusion list); Puerto Rico residents not accepted | | Accounts | Personal, Business, Corporate, Institutional — USD | | Payments | US domestic wires/ACH; international wire/SWIFT in 40+ currencies; incoming free, outgoing wire/SWIFT $25 | | Card | Visa Infinite debit — virtual immediately, physical in under 10 days; available in 46 countries | | Core fees | Application fee $50 (non-refundable); monthly fee $19.99; Zenus-to-Zenus transfers free | | Card limits | POS $5,000/day, $50,000/month; ATM $500/day, $15,000/month ($1 per withdrawal) | | Crypto | Not supported — the bank does not service crypto-related activity | | Onboarding | Fully remote, app-based, no US address required | ## The Visa Infinite card The card programme is the marketing centrepiece. Zenus is a Principal Member of Visa and rolled out what the two companies present as the first cross-border **Visa Infinite debit** card: Infinite is Visa's top tier, normally reserved for premium credit products, here attached to a debit account. The virtual card is issued immediately on account approval; the physical card ships in under 10 days. Card availability covers **46 countries** as of the extended Zenus–Visa partnership announcement. Limits are premium-tier but not unlimited: POS purchases up to $5,000 per day and $50,000 per month, ATM withdrawals up to $500 per day and $15,000 per month at $1 per withdrawal. Visa Direct push/pull transfers carry separate, lower limits (outgoing up to $2,500/day, $25,000/month). Wire, SWIFT and Zenus-to-Zenus transfers are not capped beyond the available balance. ## Licence and protection of funds Zenus operates under Puerto Rico's **International Financial Entity** regime (Act 273-2012), licence #IFE-061, supervised by OCIF — the Office of the Commissioner of Financial Institutions. The licence is published on the bank's [Licenses & Regulations page](https://zenus.com/en/group/legal-documents/licenses-and-regulations/); we have not been able to independently confirm the number in OCIF's own register (the register was unavailable at review), so treat that cross-check as pending. Puerto Rico is a US territory, so this is a US-jurisdiction institution under US federal AML rules — but it is **not** an FDIC-member bank: the IFE regime sits outside the FDIC perimeter, which is standard for this licence class, and deposits are not federally insured. Instead, the bank's protection story rests on three elements: a **full-reserve model** (client deposits are not lent out), segregation of client funds as required by OCIF, and commercial insurance policies. That is a meaningfully different risk profile from an FDIC-insured account — closer to a safeguarding construct than to deposit insurance. One quirk of the regime: an IFE serves international clients, so Zenus does not open accounts for residents of Puerto Rico itself (per the Personal Client Agreement). ## Onboarding and coverage Onboarding is fully digital: application through the app, ID verification, no US address, SSN or credit history required. The application fee is $50 and non-refundable — worth knowing before applying from a borderline jurisdiction. The Infinite personal account then costs $19.99 per month. Coverage numbers in Zenus materials vary — 46, 90+, 150+ — and they refer to different things. The Personal Client Agreement frames eligibility as banking for **150+ countries minus the bank's exclusion list**; the **46 countries** figure is where the Visa Infinite card is available; intermediate figures cited in marketing (90+) have referred to markets where clients are actually onboarded. Eligibility is determined by country of residence, not nationality. ## Compliance context Zenus screens against OFAC sanctions lists and applies its own broader exclusion list, which includes Belarus, Cuba, Sudan, the DR Congo and others. As a US-territory institution it lives under US federal AML/BSA expectations: expect real KYC, and for larger inflows the standard [source of funds](https://wiki.private.law/en/source-of-funds) questions. The bank's explicit refusal to service crypto activity also means crypto-derived funds are a poor fit for this account, whatever their documentation. > 🍓 Zenus is a real US-territory licensed bank, not an neobank — but an IFE licence is not an FDIC charter: deposits are not federally insured, and protection rests on the full-reserve model, OCIF-mandated segregation and insurance policies. The register cross-check of IFE-061 is still pending on our side. Practically, this is a solid operating rail for USD payments and a premium card for a non-US resident, at a real cost ($50 application, $19.99/month) — not a place to warehouse core capital, and not an option at all if your flows touch crypto. ## Who it suits Zenus makes sense for non-US individuals and companies that need a genuine US-jurisdiction USD account with domestic and international rails, a premium Visa Infinite debit card, and fully remote opening — freelancers and businesses billing US counterparties, internationally mobile clients who want a US account without a US footprint. The BaaS line suits fintechs that want USD accounts and white-label Visa issuing on a licensed US-territory institution. It is a poor fit for anyone with crypto flows (not serviced), for residents of Puerto Rico and of the bank's excluded countries, for cost-sensitive users (the $19.99 monthly fee is above neobank norms), and for parking large balances — no FDIC insurance means the account is an operating tool, not a vault. ## FAQ ### **Is Zenus a real bank, and are deposits FDIC-insured?** It is a licensed bank — Zenus Bank International Inc., IFE licence #IFE-061 under Puerto Rico's Act 273-2012, regulated by OCIF. But the IFE regime sits outside the FDIC perimeter, so deposits are not FDIC-insured. The bank points instead to its full-reserve model, segregated client funds and insurance policies. ### **Can I open an account without a US address or SSN?** Yes — that is the core product. No US citizenship, residency or address is required, and onboarding is fully remote through the app. Eligibility depends on your country of residence, not nationality. ### **How fast do I get the card?** The virtual Visa Infinite debit card is issued immediately once the account is approved; the physical card arrives in under 10 days. The card is available in 46 countries. ### **What does it cost?** A $50 non-refundable application fee, then $19.99 per month for the Infinite personal account. Incoming wires and Zenus-to-Zenus transfers are free; outgoing US and international wire/SWIFT transfers cost $25; ATM withdrawals $1 plus card limits. ### **Does Zenus support crypto?** No. The bank does not service crypto-related activity. If you need US-territory IFE banking with digital-asset custody, look at [FV Bank](https://wiki.private.law/en/fv-bank-digital-asset-custody) instead. ### **Which countries are excluded?** Zenus applies OFAC sanctions screening plus its own broader exclusion list (Belarus, Cuba, Sudan, DR Congo and others), and does not serve residents of Puerto Rico. The Personal Client Agreement frames coverage as 150+ countries minus that list. **Cite as:** Zenus Bank: US Digital Bank for Non-Residents with an IFE License — [https://wiki.private.law/en/zenus-bank](https://wiki.private.law/en/zenus-bank) (reviewed 2026-07-23). --- ## Sources - [Zenus Bank — Licenses & Regulations](https://zenus.com/en/group/legal-documents/licenses-and-regulations/) - [Zenus Bank — Fees & Charges (personal accounts)](https://zenus.com/en/support/accounts/personal-accounts/fees-charges/) - [Zenus Bank — Charges & Limits](https://zenus.com/charges-limits) - [Zenus Bank and Visa extend partnership: first Visa Infinite debit card](https://zenus.com/en/group/newsroom/zenus-bank-and-visa-extend-partnership-rolling-out-first-visa-infinite-debit-card/) - [Zenus amplifies banking with fintech (embedded banking)](https://zenus.com/en/group/newsroom/zenus-amplifies-banking-with-fintech-the-future-of-payments-in-puerto-rico/) --- ## FAQ ### Is Zenus a real bank, and are deposits FDIC-insured? It is a licensed bank — Zenus Bank International Inc., IFE licence #IFE-061 under Puerto Rico's Act 273-2012, regulated by OCIF. But the IFE regime sits outside the FDIC perimeter, so deposits are not FDIC-insured. The bank points instead to its full-reserve model, segregated client funds and insurance policies. ### Can I open an account without a US address or SSN? Yes — that is the core product. No US citizenship, residency or address is required, and onboarding is fully remote through the app. Eligibility depends on your country of residence, not nationality. ### How fast do I get the card? The virtual Visa Infinite debit card is issued immediately once the account is approved; the physical card arrives in under 10 days. The card is available in 46 countries. ### What does it cost? A $50 non-refundable application fee, then $19.99 per month for the Infinite personal account. Incoming wires and Zenus-to-Zenus transfers are free; outgoing US and international wire/SWIFT transfers cost $25; ATM withdrawals $1 plus card limits. ### Does Zenus support crypto? No. The bank does not service crypto-related activity. If you need US-territory IFE banking with digital-asset custody, look at FV Bank instead. ### Which countries are excluded? Zenus applies OFAC sanctions screening plus its own broader exclusion list (Belarus, Cuba, Sudan, DR Congo and others), and does not serve residents of Puerto Rico. The Personal Client Agreement frames coverage as 150+ countries minus that list. Cite as: Zenus Bank: US Digital Bank for Non-Residents with an IFE License — https://wiki.private.law/en/zenus-bank (reviewed 2026-07-23). --- ## Factual claims - Since 2024 the bank has also run an embedded-banking (BaaS) line: an API through which fintechs get dedicated USD accounts, international payments and white-label Visa card issuing on top of the Zenus licence. - Limits are premium-tier but not unlimited: POS purchases up to $5,000 per day and $50,000 per month, ATM withdrawals up to $500 per day and $15,000 per month at $1 per withdrawal. - Zenus operates under Puerto Rico's International Financial Entity regime (Act 273-2012), licence #IFE-061, supervised by OCIF — the Office of the Commissioner of Financial Institutions. - Coverage numbers in Zenus materials vary — 46, 90+, 150+ — and they refer to different things.