THE MEOW MANIFESTO

COSTCO MEETS FINANCIAL SERVICES

Meow is in no way associated with COSTCO or Costco Wholesale Corporation. COSTCO is a registered trademark of Costco Wholesale Corporation, in no way affiliated with Meow.
Look, I know what you’re thinking. How does the name “Meow” gel with corporate treasury and financial services? Well, it doesn’t. But what you’re about to read is a manifesto of what makes Meow… and why we believe that building the “Costco for financial services” is worth pouring blood, sweat and cat names into. Buckle up…
We are outsiders.
We reject the Silicon Valley approach. We reject fancy billboards. We reject bloated company building. We hate the words “spend to grow”. We never equate headcount with success. We reject the idea that slick design and sexy branding is the secret sauce. And we reject the idea that hype and press build generational companies.
We bring a U.S. midwestern mentality to company building.
Every single cent matters. We battle for reduced rent. We fight for every basis point with our partners. We view rapid hiring as an exception not the rule. This midwestern mentality is summed into one idea:
The Costco for Financial Services
The name Costco actually stands for “Cost Company”. The value prop was stupidly simple:
Decimate the cost of a product to deliver the best value to the customer.
We believe every financial services company at scale was built the wrong way. They made one key pitfall: acting like financial services is a high margin product. If you believe that financial services print cash like software, you buy billboards. If you believe financial services are high margin, you rent yachts. We disagree.
“Financial services are a commodity”
If you believe this, every dollar spent on a billboard is a dollar you end up charging your customer. If you believe this, every yacht party comes out of the customer’s pocket.  Yes, we know financial technology can generate real value. But know what actually matters? Obsessively providing the best value for the lowest cost. Costco did it for retail. Meow does it for financial services.
Because the truth is, financial services suck. The customer eats sneaky fees. The customer bears the brunt of bloated headcount. The customer takes it on the chin when you buy your billboard.  The customer pays for it all if you have a 0% checking account. Some may hate the name Meow. Some may hate the mentality. But we don’t care. We aren’t going anywhere.
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*Disclaimer: Your account is offered to you by Meow Technologies, Inc. (“Meow”). Meow is a financial technology company, not a depository, bank or credit union, and your account at Meow is not, itself, an FDIC-insured product.
Brokerage services provided by BNY Mellon Pershing, Member SIPC through a clearing and custody partnership with Helium Advisors. Meow is not an investment adviser; however we’ve partnered with Helium Advisors LLC (“Helium”), an SEC-registered investment adviser, to bring you certain investing features. All investment advisory services are provided by Helium. We are not affiliated with Helium however we receive compensation as a percentage of assets managed by Helium for promoting Helium’s investment advisory services. Our partnership with Helium gives us an incentive to refer you to Helium instead of another investment adviser that is not a partner of ours. This conflict of interest affects our ability to provide you with unbiased, objective information about the services of Helium. This could mean that the services of another investment adviser with whom we are not partnered may be more appropriate for you than those of Helium. Investing involves risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time. Helium accounts are not bank guaranteed or FDIC insured. ~5% is sourced from treasurydirect.gov May 2023 12-week U.S. Treasury Bill auction.

Meow currently partners with two banking providers. Banking services are provided by Third Coast Bank SSB; Member FDIC and Grasshopper Bank, N.A; Member FDIC.

By opening a Maximum Checking account through Meow and if you choose to receive banking services provided by Grasshopper Bank, N.A,  you deposit your funds into a deposit account at Grasshopper Bank, N.A. which sweeps those funds into deposit accounts across a network of FDIC-insured banks, for up to the current SMDIA of $250,000 per eligible depositor, per destination institution, for each ownership capacity or category, subject to applicable terms and conditions Grasshopper's ICS Deposit Placement Agreement. Grasshopper Bank, N.A. uses a third-party vendor and agent to help administer this sweep process. Visit https://www.intrafi.com/network-banks/ for a list of the banks and savings associations with which we/Grasshopper, N.A. have a business relationship for the placement of deposits at destination institutions, and into which your deposits may be placed (subject to applicable terms with you, and any opt-outs by Grasshopper, N.A. or you). The current limit for access to FDIC insurance on your funds through your Maximum Checking account powered by Grasshopper is $125 million, subject to change at any time by Meow. Terms and restrictions apply. Subject to applicable rate sheet. Interest rates and yields are effective as per the date on the rate sheet and are subject to change without notice. See applicable rate sheets. See our Account Agreements and other applicable terms. FDIC insurance is available to bank depositors up to $250,000 per eligible depositor, per FDIC-insured bank, per ownership capacity or category. 

If you choose to open a Maximum Checking account powered by Third Coast Bank SSB, you deposit your funds into a deposit account at Third Coast Bank SSB, which sweeps those funds into deposit accounts across a network of Federal Deposit Insurance Corporation (“FDIC”)-insured banks, for up to the current standard maximum deposit insurance amount (“SMDIA”) of $250,000 per eligible depositor, per receiving bank, for each ownership capacity or category, including any other balances you may hold at that receiving bank directly or indirectly through other intermediaries, including broker-dealers. Third Coast Bank SSB uses a third-party vendor and agent to help administer this sweep process. Visit https://www.reichandtang.com/about/bank-lists/ for a list of the banks and savings associations with which we/Third Coast Bank SSB have a business relationship for the placement of deposits at receiving banks, and into which your deposits may be placed (subject to the Account Agreements with you, and any opt-outs by Third Coast Bank or you). The current limit for access to FDIC insurance on your funds through your Maximum Checking account powered by Third Coast Bank is $50 Million, subject to change at any time by Meow.

FDIC insurance coverage is only available to protect you against the failure of an FDIC-insured bank that holds your deposits (and does not protect you against the failure of Meow or other third party). Terms and restrictions apply. See our Account Agreements. FDIC insurance is available to bank depositors up to $250,000 per eligible depositor, per FDIC-insured bank, per ownership capacity or category. Your account with Meow and all services provided to you are subject to the Meow Terms of Service (“Account Agreements”) and other applicable terms and no other representations or warranties, express or implied, are provided to you except as expressly set forth in those written Account Agreements. If you have any questions regarding your account, please contact team@meow.co.

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