Daylight News Website

Why you need queer banking

We created Daylight to be the only bank account that rewards LGBTQ+ folks for spending in line with their values. We’re not only designed for LGBTQ+ folks but our chosen families and allies who want to put their money to work for themselves and for the LGBTQ+ community.

Our commitment is to not only provide you with great banking services, but to help you align your spending with your values. That means when you bank with Daylight, you don’t have to worry about accidentally supporting anti-LGBTQ+ or anti-trans initiatives. Chick Fil A anyone?

Doing the right thing is hard, and it’s hard to know who’s with us and who’s against us. Let us help. Here’s why Daylight is better for you, your community and your chosen family.

Better for you

With Daylight you can stop worrying about whether you’re doing the right thing with your spending and with your money. Daylight takes the uncertainty out of queer banking so you can rest assured you’re doing the right thing, every day.

  • Financial education and live coaches that can help you manage your finances better. We offer guides relevant to queer folks, including information on surrogacies, negotiating your salary, paying down debt and finding financing that meets your needs.
  • Each month we’ll send you a personalized spending report  that shows you how queer friendly your shopping is and offers you better alternatives. The more queer friendly you are, the better rewards we’ll offer. Easy. Eat that chicken sandwich without leaving a bad taste in your mouth.
  • Switch your payroll over to Daylight and you could be eligible to get your paycheck 2 days early. Get paid when you want, not when your boss does.
  • Say goodbye to overdraft fees and say hello “Paycheck advance”. Whether you’ve overspent on a fab new outfit this month, or didn’t work as many hours this week, we’ll advance you up to $200 each month to cover essential costs like hormone treatment, healthcare or those Gaga tickets that’ll sell-out before pay day.

Better for your community

Banking with Daylight means supporting queer people – all you need to do is use your Daylight card and we’ll do the rest. Here’s some of the ways using Daylight as your main bank account helps your community.

  • For every eligible customer who signs up before 31 August, we’ll be giving $10 to an LGBTQ+ mutual aid program that gives more than 95% of the donations directly to a queer person in need.
  • Rewards Realness is our cash-back platform for queer businesses. Every time you spend money with a queer business, we’ll give you up to 10% cash back – no vouchers, no codes. Just cash at the end of the month. Good for you, good for queer businesses.
  • Switch on charity round-ups for effortless donations for queer folks in need. Just using your card 20 times a month means you’ll ensure a low-income trans person gets a week worth of hormones. Or you could help a homeless young person get a bed for a night.
  • Get discounts (and donations) when you shop at big retailers. You can get cash-back when using our network of around 10,000 retailers, from Chipotle to DoorDash. And when you do, we’ll also channel 25% of your discount to LGBTQ+ mutual aid funds.

Better for your chosen family

You don’t have to be queer to want to do the right thing. Daylight is great for folks with queer kids, brothers, sisters, parents, cousins and best friends.

When you make Daylight your main bank account, and when you use your Daylight card, you’ll get all of the benefits of a Daylight member while also sleeping a little easier each night, knowing that you’re part of an ecosystem educating and supporting those people you care about.

Here’s some of the causes we’ve supported already

We’re a start-up, which means we’re at the beginning of our journey, but here’s some of the causes we’ve already supported in 2021.

– For the Gworls
– Point of Pride HRT fund
– Edie Windsor Coding Scholarship
– Next Generation Project
– Ali Forney Center

Plus every time a customer makes their 20th transaction, we make a donation to ACT UP to celebrate the heroes that supported our community through the HIV/AIDS crisis.

Where to from here?

Rome wasn’t built in a day, and neither was Daylight. Over the coming months and years we’ll be rolling out more support for our community’s needs, including:

  • Loan products to support transitions and fertility treatment
  • Simplified access to PREP directly within the app
  • A market place of LGBTQ+ friendly products, like health insurance, travel insurance and mortgages.

Get early access to Daylight.  Join the waitlist today.

Money Stories

Money Stories: Kenny Davis

Kenny Davis (he/him) is a proud Black Transgender male financial literacy activist and the CEO of “THE TRANS CAPITALIST L.L.C”, the fastest growing financial literacy resource for the Queer-Transgender community. 

He has spent the past three years teaching, coaching, and motivating hundreds of queer people around the world. His easy, straight-to-the-point lessons and relatable life strategies provide concrete results, and cultivate skills that help people survive the volatile economic climate of America. 

He is a graduate of Rochester Institute of Technology with a Bachelor’s degree in Civil Engineering and a Masters of Finance from Pace University Lubin’s School of Business.

When was the first time you thought about money?

The first time I thought about money was at my 5th birthday party. I was opening my presents and seeing within the cards that family and friends had given me money. My mother and grandmother told me I needed to put that money in a special hiding place to save it. I didn’t fully understand it then, but now I know how important it was. Saving money can save your life.

What was your “aha” moment with money?

My “aha” moment with money was when I was at my worst financial status. I had a six-figure job but was living paycheck to paycheck. I had run out of money and was in tons of debt, facing eviction and car repossession. I pulled myself together from all that emotional turmoil and realized that there was a book in front of me, which was Rich Dad Poor Dad. It was my biggest “aha” moment because that’s when I learned that money had rules to follow. Once you follow those rules, your money starts to grow.

How has being LGBT+ impacted your relationship with money?

Being transgender has massively impacted my relationship with money. Just being transgender means I incur more expenses to live everyday life. It was costly to become financially independent at such a young age because my mother disowned me. But it’s even more expensive to medically and physically transition. After hearing all the negative stereotypes and statistics – how no one would hire me, or how I would not make enough money – I did not want to become a part of them. So being transgender gave me the motivation to change my relationship with money. I refused to be another statistic.

What are your top three tips for someone wanting to get their money habits in shape?

My three top tips for getting your money habits in shape are:

  1. Ask for help! Habits are difficult to change on your own. Asking for help from a trusted resource gives you a higher chance of changing money habits.
  2. Read books on financial literacy, especially on topics that you may be struggling with.
  3. Create a habit to save a little more than you usually save. With the world in economic disarray, it’s better to save more than you usually do because you do not know when you’ll end up in an emergency.

What is your approach/philosophy to financial coaching?

My philosophy to financial coaching involves making sure we discuss the importance of mental and emotional wellbeing when it comes to money. In my coaching, I dedicate whole sessions to discuss these things. Too often, financial “gurus” do not talk about money mindsets and emotions. Your mental state plays as crucial a role in handling your money well as the money habits you create. If you don’t feel comfortable and confident about money, it will reflect in your finances.

Favorite LGBT+ business (online or IRL)?

My favorite LGBT+ online business is Stealth Bros & Co. I’ve enjoyed watching them grow from a small store to a huge online presence within the transgender male community. They started by selling luxury “Dopp kits,” aka toiletry bags, to help store personal hormone replacement therapy and other medical necessities. Now they have expanded to fashionable streetwear. Stealth Bros & Co also created an annual Stealth Bros support Fund by aiding in financial support to those on their transition journeys. Please check them out if you can; you won’t be disappointed.

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