What is mph.bank?
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.
How much do I have to deposit to open a mph.bank account?
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.
What does it cost to use mph.bank?
Cost and benefits will depend on which account you open.
You may want to check out this matrix that compares all of the accounts.
Do I really get paid every month for referrals?
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.
How can you afford to pay every month for referrals?
Why debit cards vs credit cards?
Credit cards can be bad
Debit cards are simpler and better
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.
Does mph.bank work with Zelle?
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.
What type of account is mph?
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.
What is a “Spend” account?
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:
Is mph.bank a savings account?
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:
Is mph.bank a checking account?
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:
Simply make 15 purchases with your mphCard OR make monthly direct deposits of $500 or more to unlock these rewards:
When you make 15 purchases with your mphCard, you unlock monthly network Referral Rewards*
Can I create an account to save up for a new cuddly Australian Shepherd? We want to name him “Sparky”.
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!)
How do I make 15 debits?
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.
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* Waive the monthly $9 fee* for the first 6 months you have your new mph.bank account. After the first 6 months, you must complete 15 debit card transactions (excluding ATM transactions) each month (between the 1st and last Business day of such month) using the mph.bank debit card linked to your account OR make monthly direct deposits of $500 or more to unlock these features: 0.55% Annual Percentage Yield (APY) on your Spend account balance up to $5,000 and waive the monthly $9 membership fee. The default rate, and for all balances above $5,000, is 0.00% APY. Fees could reduce earnings.
To earn monthly Referral Rewards, you must have 15 mphCard (debit) transactions (excluding ATM transactions) post each month (between the 1st and last business day of such month) using the mphCard linked to your account. After that, you will get paid one dollar ($1.00) each month for each verified referred connection (up to six degrees) that completes 15 mphCard qualified transactions each month using the mphCard linked to their account. Each member is limited to earning $8,500 referral rewards per month. See full account agreement information for additional terms and conditions.
The FDIC National Average APY for an interest-bearing checking account is 0.03% APY as of 7/2/2021.
Rates listed are effective 7.27.21 and are subject to change without notice. Some fees may apply, refer to our current Schedule of Fees. All deposit products are provided by, and mph.bank is a brand of, Liberty Savings Bank, F.S.B., Member FDIC.
There is only one monthly $9 membership fee that’s easy to avoid!
Simply make 15 purchases each month with your mphCard it waives the only fee on the account. This also unlocks additional goodies. You could make $$$ with monthly Referral Rewards* and also earn 0.55% APY* interest on your Spend account balances.
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If you are interested in opening the High-Yield MMDA or Certificate of Deposits (CD) that is currently listed on SaveBetter, please go here.