First Women's Bank
The first US bank founded by women, led by women, focused on lending to women-owned businesses.
Women-founded, women-led chartered bank for women-owned SMBs.
- Who holds it
- The company itself — it holds a full banking licence — National bank charter.
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from First Women's Bank’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · women |
| HQ | Chicago, US |
| Founded | 2021 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | National bank charter |
| Card | MC · Business banking |
| Stablecoins | No |
| KYC | Yes |
| Active regions | North America |
| Founders | Marianne Markowitz + founding team |
Verified links: official site ↗
Common questions about First Women's Bank
What is First Women's Bank?
First Women's Bank is a fiat neobank built for women, headquartered in Chicago, US and founded in 2021. Your money is held custodially, so First Women's Bank or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (National bank charter).
Does First Women's Bank have a card, and where can you use it?
It issues a Mastercard business banking card. It is available in North America.
Does First Women's Bank require KYC?
Yes. First Women's Bank requires identity verification (KYC) to open an account, as a licensed bank.
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Head-to-head
First Women's Bank vs Ellevest
Peers
Chime · Wise · Varo · Current · SoFi · Ally Bank
First Women's Bank appears in
Neobanks that hold their own banking license (132) · Neobanks available in North America (126) · Neobanks that issue a Mastercard (150) · Neobanks in United States (66)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.