Frequently Asked Questions

Persona is a financial technology company that offers an all-in-one management platform for self-employed professionals and businesses in the United States.

Persona users receive access to every tool they need to run their business effectively and seamlessly. Persona’s features include invoicing, payment collection, client management, business analytics, tax automation and optimization, and a business checking account, complete with a Persona Visa Card that offers unlimited cashback.

No. If you have a Social Security Number you can register as a “Sole Proprietor”.

Absolutely not. Your Social Security Number is used for identity verification, we do not check your credit score at any point.

No. You, or your incorporated entity, do need to have a TIN (ITIN, EIN or SSN) to be eligible for a Persona account, but you do not have to reside in the US.

Persona is currently 100% free of charge. That means no minimum balance, no overdraft fees, no ACH/wire fees, and so on. Please note that our payment processor, which is a third party, does charge a processing fee for card payment processing.

We’re committed to complete alignment with our users’ interests.

Every time a user spends funds using their Persona Visa Card, the seller/merchant (whoever you’re purchasing from) pays Persona roughly 1% of the transaction amount.

This is actually what happens whenever anyone uses any card to make a purchase, and that essentially means it’s the merchants that pay for Persona, instead of our users.

Persona is fully committed to protecting your account and your privacy. Along with our own security protocols, Persona has partnered with Goldman Sachs, Member FDIC in order to provide our users with business checking accounts. Our banking partner employs their own additional security measures. You’re in safe hands with Persona!

Well… we’re glad you asked!

For starters, Persona charges absolutely no fees and requires no minimum deposit. Another fan favorite is our ongoing live *human* support by chat, SMS, or phone calls. Unlike other banks, we really are here for you when you need us.

Yes! Your funds are insured up to the FDIC maximum limit of $250,000 through our banking partner – Goldman Sachs, Member FDIC. Bank-grade security? you got it!

Anyone who’s been approved to use a Persona is eligible for a Persona Visa Card. It is automatically shipped to the address on file.

Your Persona Visa Card is shipped upon your account getting approved. It takes five to eight days to arrive by USPS.

No, the Persona Visa Card is *not* a credit card. It is a business card and behaves similarly to a debit card. You can only spend funds that are available in your account, and they are deducted immediately upon payment.

Your card is accepted anywhere VISA cards are accepted.

Yes! You can generate a virtual card from the “Account and Card” screen inside the Persona app.

The Persona algorithm takes into account your information, along with your business income and business expenses, and provides a real-time calculation of your tax liability.

No. Our users use their Persona Visa Card for personal expenses as well, so we let the user decide which expenses to mark as business expenses and which to keep as personal expenses.

Yes, we will. You’ll find it in your Persona app when you need it.

Funds are deposited in your Persona account on a T+2 schedule, which generally means two business days from the moment the payment was processed.

You should know that Persona also offers an ‘Instant Pay’ feature which allows you to receive the funds immediately. Toggle it via the Persona settings screen inside the app.

Yes, we do! It can be toggled in the settings screen inside the Persona app.

Persona charges no fees for use of our platform. However, we process payments for our users via a third party – Stripe. Processing fees for payments collected through Persona is 3.4% + 30¢.