Date Published
Jun 10, 2025
Written by
Mela Bekele
Time to Read
6 min
We're doctors, engineers, entrepreneurs, students, and workers. We send billions of dollars home each year. We build businesses. We support our families. We chase dreams.
But here's what most people don't know: most of us can't access basic banking.
This is our story.
The Problem: Locked Out of the System
Meet Alemitu
Alem moved to Dubai five years ago to work as a nurse. She makes good money. She sends half her salary home to support her family in Addis Ababa. She's responsible, hardworking, and financially stable.
But Alemitu doesn't have a US bank account.
Why? Because she doesn't have:
A Social Security Number
A US address
A US phone number
US credit history
She's not alone. Millions of Ethiopians face the same wall.
Meet Dawit
Dawit is a software developer in London. He works as a freelancer for US companies. His clients pay via Upwork, PayPal, and direct transfers.
The problem? Every payment method requires a USD account.
His workarounds:
Using family members' accounts (risky and illegal)
Third-party payment processors (high fees: 5-15%)
Cryptocurrency (volatile and complicated)
Informal hawala networks (unsafe and unregulated)
None of these are real solutions.
Meet Sara
Sara runs an e-commerce business from Riyadh. She sources products from China and sells to customers in the US and Europe.
She needs:
USD account to receive payments
International debit card to pay suppliers
Financial tools to track cash flow
Professional banking for business growth
What she gets instead:
Account rejections
"We can't serve your country"
"Do you have an SSN?"
"Sorry, not available in your region"
This is the Ethiopian diaspora experience.
Why Traditional Banks Fail Us
1. Compliance Burden
Banks see diaspora customers as "high-risk":
Cross-border transactions
Remittance patterns
Multiple jurisdictions
Complex KYC/AML requirements
Translation: Too much work for them, so they reject us.
2. Profit Margins
Diaspora customers aren't profitable enough:
Lower average balances
Higher support costs (language barriers)
Remittance-focused (not loan or investment products)
Translation: We're not worth their time.
3. Legacy Infrastructure
Traditional banks run on 40-year-old systems:
Can't handle international customers easily
Limited language support
No digital-first experience
Slow, manual verification processes
Translation: Their technology can't serve us even if they wanted to.
The Real Cost of Financial Exclusion
Lost Opportunities
Freelancers can't accept international work:
$50/hour gigs unavailable
Forced to use expensive intermediaries
Lose 10-20% to fees and currency conversion
Miss out on global opportunities
Entrepreneurs can't scale businesses:
Can't accept online payments
Limited to local markets
No access to business credit
Growth stunted by banking barriers
Families pay massive remittance fees:
Average: 8-12% per transaction
$10 billion+ sent annually from diaspora
$800M-$1.2B lost to fees every year
That's money that could change lives
Personal Stories
"I lost a $120,000 contract because I couldn't provide a US bank account for direct deposit. The client didn't want to deal with wire transfers." - Software Developer, Canada
"I pay $25 to send $200 home. That's 12.5% in fees. For what? Moving digits on a screen?" - Nurse, Saudi Arabia
"My business idea died because I couldn't accept Stripe payments. No US account = No Stripe = No business." - Entrepreneur, UAE
Why "Just Get a Bank Account" Doesn't Work
People often say: "Just open an account when you visit the US."
Here's why that doesn't work:
Catch-22 of US Banking
To open a US bank account, you need:
US address
SSN (or ITIN)
In-person visit
US phone number
To get an SSN, you need:
Work authorization
To be physically in the US
Valid visa
To get a US address, you need:
Lease or utility bills
Long-term residence
If you're diaspora living abroad, you can't check these boxes.
The Tourist Visit Workaround
Some try opening accounts during US visits:
Problems:
Many banks require 30-90 days of US residence
Account gets flagged for international usage
Gets frozen when you leave the country
Violates terms of service (account closure risk)
This isn't a solution—it's a time bomb.
The Mela Solution: Built for Diaspora
What We Did Differently
1. No SSN Required
We redesigned our verification system:
Passport-based KYC
Biometric verification
International ID acceptance
Compliant with US regulations, but accessible globally
2. True Global Access
Open from anywhere in 180+ countries:
No US address needed
No US visit required
No US phone number needed
Fully remote onboarding
3. Multilingual Support
Real humans who speak your language:
Amharic (አማርኛ)
Tigrigna (ትግርኛ)
Oromiffa (Afaan Oromoo)
English
Not automated translations. Real people who understand your context.
4. Designed for Remittances
We know most diaspora send money home:
Lower fees than traditional services
Fast transfers
Transparent rates
No hidden charges
5. Built for Freelancers
Receive payments from anywhere:
Direct deposit from US employers
Upwork, Fiverr, Freelancer.com
PayPal integration
International wire transfers
The Numbers Don't Lie
Ethiopian Diaspora Impact
15M Ethiopians live outside Ethiopia
$10B+ in remittances annually
32% of Ethiopia's GDP comes from diaspora
8-12% average remittance fees (way too high)
$800M-$1.2B lost to fees every year
Mela's Impact (So Far)
10,000+ accounts opened in first month
$50M+ in deposits
47% fee reduction vs. traditional remittance
89% customer satisfaction
24 hours average account approval time
What This Means
If every Ethiopian diaspora member used Mela instead of traditional services:
$800M-$1.2B saved annually on remittance fees
Billions more going directly to families
Economic transformation back home
Financial inclusion for millions
Beyond Banking: Community Building
Mela isn't just a bank—it's a movement.
Our Vision
Short Term:
USD banking for all diaspora
Affordable remittances
Global debit cards
Financial literacy tools
Medium Term:
Business accounts for entrepreneurs
Micro-loans for diaspora businesses
Investment products (stocks, bonds, savings)
Insurance products
Long Term:
Pan-African diaspora banking
Cross-border trade facilitation
Community investment funds
Economic empowerment ecosystem
Why This Matters Now
The Digital Economy Boom
The world is going remote:
Freelancing market: $1.5 trillion
Remote work: 35% of workforce
Cross-border e-commerce: Growing 20% annually
Ethiopians are ready to participate—but need the banking infrastructure.
The Remittance Crisis
Traditional services are too expensive:
Western Union: 8-15% fees
MoneyGram: 7-12% fees
Banks: 5-10% fees + poor exchange rates
Families are losing billions to fees.
The Opportunity Gap
Global inequality is growing:
Diaspora have skills and capital
Home communities need investment
But banking barriers block the connection
Mela bridges this gap.
Join the Movement
For Individuals
Download Mela and reclaim your financial freedom:
Open USD account in minutes
Get virtual debit card instantly
Order physical card delivered worldwide
Start banking without borders
For Businesses
Scale your business globally:
Accept international payments
Pay suppliers worldwide
Track finances professionally
Grow without banking barriers
For Families
Send money home smarter:
Lower fees than Western Union
Fast, secure transfers
Transparent exchange rates
Track every transaction
The Bottom Line
Banking shouldn't require a passport to a specific country.
Financial services shouldn't exclude people because they weren't born in the right place.
Your money should work for you—not for middlemen taking fees.
Mela is changing the rules.
Your Turn
The Ethiopian diaspora is powerful. We're educated, hardworking, and connected to opportunities worldwide.
We just need the tools to access them.
Mela is that tool.
Download today:
📱 iOS: App Store
📱 Android: Google Play
