Frequently Asked
Questions

MPH.bank makes people happy by empowering them to achieve financial success. It is an app for people who bank by phone or online. Our state-of-the-art interface allows you to save, manage and grow your money.

You can open a mph.bank account with as little as a $25.00 opening balance. Your balance is available to you as soon you get confirmation that your new mph.bank account is opened.

Cost and benefits will depend on which account you open.

You may want to check out this matrix that compares all of the accounts.

Yes. Refer friends and you could earn for each person, up to six degrees of connections while you sleep, every month*.

Try our calculator and see how much you can make.

* There is a $9/month fee for the Friends account which is automatically waived the first month the account is opened, and the next full month. This fee will be waived each month there are 15 posted mphCard purchases by the last business day of the month. Once you meet the criteria to waive the fee, you also earn 0.55% Annual Percentage Yield (APY) on your checking (SPEND) account on the first $5,000 in balances. 0.55%APY is over 15x the average national FDIC rate as of 4.18.22. Amounts above $5,000, and accounts that do not meet the criteria to waive their monthly fee, earn the default rate of 0.00% APY. Fees could reduce earnings. Rates are effective 7.27.21 and are subject to change without notice. The Friends account also has Monthly Referral Rewards. You will get paid one dollar ($1.00) each month, for each verified account you refer, and their connections (up to 6,) if you, and they, have at least 15 mphCard purchases post to the respective account(s) by the last business day of the month. Each member is limited to earning $8,500 in referral rewards per month, regardless of the number of people you have referred, or they have referred. The referral code you create is what links the new account to you. If the new member does not type in your code correctly, you will not get credit. See Truth in Savings Disclosure for full terms and conditions. Customer information is private so we will not be able to share with you the names of those who have opened an account using your code. All deposit products are provided by, and mph.bank is a brand of, Liberty Savings Bank, F.S.B. Member FDIC.

• We decided to create a bank that gives value to our customers instead of buying expensive media, building swanky branches with coffee bars, or sponsoring professional sports stadiums.
• We give those dollars to you.

Credit cards can be bad

• Credit cards carry 14%-21% interest rates on unpaid bills. This is bad debt.
• 44% of people carry an unpaid credit card balance.
• The cost of a credit card is high! The average U.S. cardholder spends $753.80 each year in interest charges.

Debit cards are simpler and better

• With a debit card, you don’t get an annoying bill at the end of the month.
• mph.bank does not have overdraft fees or finance charges. You can only buy what you can afford.

Transitioning from using credit cards (spending money you are borrowing) to using a debit card (spending money you have) is the first step to financial success.

Source: https://www.cardrates.com/advice/number-of-credit-card-transactions-per-day-year/

Absolutely. Zelle has faster transfers, and no fees to send or receive money. Plus, Zelle is easy to use with no new apps or accounts needed.

When you join mph.bank you get a “Spend” or “checking” account. Once you are a mph.bank customer, you can open a free add-on “Goals” or “savings” account. mph.bank is also an app for people who bank by phone or online. Our state-of-the-art interface allows you to save, manage and grow your money.

An mph.bank “Spend” account is similar to a “checking” account. We don’t call it a checking account because we provide a state-of-the-art mphCard instead of an old-fashioned checkbook.

This account is packed with additional features:

• A free “contactless” mphCard.
• Remote deposit.
• Secure mphCard controls on the app.
• The ability to pay bills online with mphCard instaPay.
• The ability to switch easily from expired or current cards with mphCard onFile.
• Auto transfer from an external bank account.
• No overdraft fees.
• The ability to check transactions immediately.
• Venmo, Paypal (now) or Zelle (coming soon) compatibility.
• 55,000 free ATMs.

Plus more:

• See all your accounts in one place, even from other banks.
• Do transfers to and from an external account and your mph.bank Spend account.
• Easily see what you spend.
• Identify trends.
• Monitor cashflow.
• See your net worth.
• Detail of liability balances and last payment amount.
• Check your credit score
• Set in-ap travel notifications

mph.bank starts with a “Spend” account which is similar to a “checking” account. Once you are a mph.bank customer, you can open a free add-on “Goals” or “savings” account.

The “Goals” account has powerful features for all members:

• “Round-up” makes it easy to save
• Create goal accounts to help you save for what you want. Create accounts for that special vacation, a new electric bike, or simply an emergency fund for car or home repair.

mph.bank starts with a “Spend” account which is similar to a “checking” account. The mph.bank “Spend” account is packed with features that include:

• A free “contactless” mphCard.
• Remote deposit.
• Secure mphCard controls on the app.
• The ability to pay bills online with mphCard instaPay.
• The ability to switch easily from expired or current cards with mphCard onFile.
• Auto transfer from an external bank account.
• No overdraft fees.
• The ability to check transactions immediately.
• Venmo, Paypal (now) or Zelle (coming soon) compatibility.
• 55,000 free ATMs.

Simply make 15 purchases with your mphCard OR make monthly direct deposits of $500 or more to unlock these rewards:

• Up to 0.55% APY* interest on your Spend account balances. That’s more than the FDIC national average for checking accounts*.
• Waives monthly $9 membership fee* (Special Limited Time Offer: Free for the first 6 months of your new mph.bank account.)

When you make 15 purchases with your mphCard, you unlock monthly network Referral Rewards*

Plus more:

• See all your accounts in one place, even from other banks.
• Do transfers to and from an external account and your mph.bank Spend account.
• Easily see what you spend.
• Identify trends.
• Monitor cashflow.
• See your net worth.
• Detail of liability balances and last payment amount.
• Check your credit score
• Set in-ap travel notifications

Of course. You can create a custom Sparky “Goals” account to save up for your new puppy! (Hint: Set up “Round-up” to reach your goal faster!)

Easy peasy. Use your mphCard for Amazon, Netflix, Hulu, your morning coffee, or when you buy groceries. Simply do what you normally do. The average person makes 68 payments per month, and 23 are debit card purchases. Better yet, mph.bank gives you a hand with features like mphCard instaPay and mphCard onFile making your 15 debits a no-brainer.