Friends Account:
0.55% APY on Digital Spend (Checking Account) balances up to $5,000
Launched in 2018 in Florida, MPH.bank is an online bank that challenges the ways of traditional banking and strives to make people happy (MPH). It does this through a customer-focused, streamlined digital banking experience. The bank is FDIC-insured through Liberty Savings Bank and offers four accounts, a personalized dashboard, and several other financial tools for customers.
Where MPH.bank excels is its commitment to its customers long-term financial success and happiness. Not only that, but MPH.bank’s products and services are designed with the idea of offering the most value to its customers.
8.2
8.0
8.5
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Backed by FDIC-insured Liberty Savings Bank, MPH.bank offers a simple digital banking service with four convenient accounts and several financial tools. This direct bank is based in Florida but operates nationwide.
DEPOSIT AMOUNT
min $25
BALANCE AMOUNT
$25
APY CHECKINGS
Max 0.55%
ATM NETWORK
55,000 free allpoint atms
MAINTENANCE FEE
9
OTHER FEES
None
Pros & Cons
Account Type
DEPOSIT AMOUNT
min $25
APY
Max 0.55%
MIN BALANCE
$25
DEPOSIT AMOUNT
min $25
MIN BALANCE
$25
Friends Account:
0.55% APY on Digital Spend (Checking Account) balances up to $5,000
This account doesn’t have any fees and comes with a contactless debit card, personalized dashboard, and a “Goals” Saving Account. It also features a round-up widget that helps you save more money with every transaction. Other features include:
To open this account, you must have at least $500 in direct deposit for that month.
Account Type | Key Features Bonuses |
Free Account |
|
The Friends account is meant for those who want to take advantage of MPH.bank’s general rewards program. This account costs $9 a month, though this fee is automatically waived the first month. It’s also possible to waive the fee every month as long as you have 15 posted mphCard purchases.
Key features of this account include:
Account Type | Key Features Bonuses |
Friends Account |
|
The First Account is for those ages 10 to 24 years old, or for college students with a limited income. It includes many of the same benefits as the other two accounts, including:
If you’re under 18 years old, you’ll need a parent or guardian as a joint account owner.
Account Type | Key Features Bonuses |
First Account |
|
Made for those who’ve previously had a bad banking experience or who’ve been reported by ChexSystems, Fresh is another free online checking and savings account. It includes:
This account does come with a $9 monthly service fee that cannot be waived.
Account Type | Key Features Bonuses |
Fresh Account |
|
If you’re ready to open an account with MPH.bank, head to the homepage and click the orange button that says, “Get Started.” From there, you’ll be asked to provide your email address, the type of account you want to open, and your referral code (if applicable).
Next. you’ll be given a list of criteria you must meet to open an account. If you’re eligible, click “I meet the criteria.” You’ll then see a screen indicating the features and requirements of your chosen account. If everything looks good, click “Add to cart.” Otherwise, change your account selection. Either confirm the account (product) in the cart by clicking “Next,” or add products (other accounts).
The next step is to get started with the account creation. Verify your email address and provide a mobile phone number. Also, check the boxes indicating you agree to the terms and conditions. Next, you’ll need to scan your ID – front and back. You’ll also need some other information, such as:
Once you’ve completed the application, make a $25 opening deposit to open the account.
Available in all states
As MPH.bank is backed by Liberty Savings Bank, which was established in 1889 and is FDIC-insured on deposits up to $250,000. The bank may collect and share personal information, such as your SSN, income, and banking and credit history, for the purposes of offering banking services, marketing, or improving their product.
Following Liberty Savings Bank’s privacy policy, MPH.bank does not share information with its affiliates or non-affiliates. Residents of California and Vermont have additional protections and more limited data sharing.
MPH.bank also has several security measures (in compliance with federal law) in place to prevent unauthorized access to personal data. Along with this, the website is encrypted to prevent hacking or theft of data.
MPH.bank has a secure email address and a toll-free phone number you can use to contact them. To email them, you will need to have an account with them first. The bank also has several social media platforms, including Twitter, Facebook, and Instagram, which you can use to direct message them or post a comment.
Overall, MPH.bank is responsive, especially to phone calls. They do not list their operating hours, but they appear to operate during standard business hours Monday through Friday PST (excluding federal holidays).
On the Apple App store, MPH.bank has 5 stars but only four reviews. It’s not rated on Google Play and has very few customer reviews on other sites like BBB.
MPH.bank is a direct bank that’s dedicated to making people happy through useful digital banking tools that can help them achieve financial success. It’s a solid choice for those looking for a convenient way to bank entirely online.
Although the bank itself is only a couple of years old, it’s backed by FDIC-insured Liberty Savings Bank, which has a long history of offering value-driven services and products to customers.
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Mph.bank has been submitted for registration.
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