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BancBox Inquiries

Since launching our BancBox platform in June, we have identified a series of questions we find helpful in serving our inquiries and potential customers. In an effort to better serve our potential customers, we have compiled a series of questions we typically find help us better serve incoming inquiries. Some of these include:

1. What is the background of the principals of the business? 

2. Is your website currently live and if so, how many transactions are you completing each month?

3. How is your business funded?

4. Please review the business models below and identify the one that most closely matches your intended business model and needs.

Marketplace: You're creating a marketplace and are looking to collect funds via a credit/debit card and/or ACH from people who want to buy products and/or services from sellers on your site.  You want to take the buyer's money, passing it to the seller after the appropriate party approves that the transaction has been completed satisfactorily.  You'll take a percentage of the transaction as your fee.  You're looking to pay your seller via ACH, BillPay, PayPal or a paper check.


Wallet: You are looking to create a peer2peer transfer business whereby your customers deposit money via credit/debit card and/or ACH.  You'll take a percentage of each transaction between two or more parties.  You'll allow customers to request funds to be paid to them via: ACH, BillPay, PayPal, Debit Card or a paper check.


Crowdfunding: You are looking to enable crowd-funding and require an independent organization to collect the funds via an ACH or wire transfer, place them into an escrow account, manage the escrow and then pay out or return the funds to the issuer of the security or the investors via ACH, wire transfer or a paper check, depending on the result of the escrow.  You'll take a percentage of the capital raised as payment.


Giftcard: You are looking to create a virtual giftcard company and must collect money via a credit/debit card and or ACH from people who want to buy the giftcard.  You're looking to provide the giftcard funds to the recipient via ACH, BillPay, PayPal or a paper check.  You will  charge a fee for facilitating this transaction.


GroupBuy: You are looking to combine peer2peer transfers with a marketplace to create a group purchasing solution.


Other (please explain) 


If you are interested in the BancBox platform, feel free to copy and paste these questions with your answers and send it on to, and we will be in touch with you as soon as possible. 

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