BankMobile is a mobile-first bank with no physical branches, designed mainly for students and people who prefer banking through an app

BankMobile operates as an online bank, meaning you cannot walk into a branch. All account opening, deposits, and customer service happen through their mobile app or website. The bank is owned by Megalith Financial Services and is FDIC-insured up to $250,000, so your money is protected the same way it would be at a traditional bank.

The account opening process takes about 10 minutes and requires an internet connection, a valid government ID, and a Social Security number. You do not need a minimum deposit to open the account, and there are no monthly maintenance fees. BankMobile makes money from interchange fees on debit card transactions, not from account fees, which is why the checking account itself costs nothing.

Key Takeaways

  • BankMobile checking accounts have no monthly fees, no minimum balance requirement, and no overdraft fees if you opt out of overdraft protection.
  • You open an account entirely through the BankMobile app or website using your ID, Social Security number, and a valid email address.
  • Deposits work through mobile check deposit, ACH transfers from another bank, or direct deposit from an employer or government agency.
  • Withdrawals happen at ATMs in the Allpoint network (over 55,000 worldwide) or through transfers to another bank account.
  • The account is FDIC-insured and takes about 10 minutes to open, with a debit card arriving by mail within 7 to 10 business days.

What you need before you start

Gather these items before opening the account: a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an email address you check regularly. You also need internet access and a smartphone or computer to complete the signup.

If you plan to set up direct deposit, have your employer's routing and account information ready, or the account number from the government agency sending you payments. This is optional — you can deposit money other ways — but direct deposit is the fastest method for regular paychecks or benefits.

The step-by-step account opening process

Step 1: Download the app or go to the website. Go to the Apple App Store, Google Play Store, or visit bankmobile.com on a web browser. The process is the same either way.

Step 2: Tap "Open an Account" or "Sign Up." You will see a button to start a new account. Tap or click it.

Step 3: Enter your personal information. Provide your full name, date of birth, email address, phone number, and mailing address. BankMobile will use this to verify your identity.

Step 4: Provide your Social Security number. Enter your nine-digit SSN. BankMobile runs a soft credit check and verifies your identity against government records. This does not hurt your credit score.

Step 5: Take a photo of your ID. Use your phone's camera to photograph the front and back of your driver's license, passport, or state ID. Make sure the image is clear and all text is readable. BankMobile uses this to confirm you are who you say you are.

Step 6: Review and confirm. Read through the account agreement and fee schedule. BankMobile will show you the terms. Tap "Agree" or "Accept" to move forward.

Step 7: Set up your PIN and security. Create a four-digit PIN for in-app access and set up biometric login (fingerprint or face recognition) if your phone supports it.

Your account opens immediately. You will receive a confirmation email within minutes. Your debit card ships within 1 to 3 business days and typically arrives within 7 to 10 business days.

How to deposit money into your new account

BankMobile offers three main ways to put money in: mobile check deposit, ACH transfer from another bank, and direct deposit.

Mobile check deposit is the fastest for checks. Open the BankMobile app, tap "Deposit," select "Check," and photograph the front and back of the check. The funds usually appear within one business day. There is no limit on how many checks you can deposit this way.

ACH transfer lets you move money from another bank account you own. In the app, go to "Transfer Money," select "From Another Bank," and enter the routing number and account number of the account you are transferring from. The transfer takes 1 to 3 business days. You can also have another bank send money to your BankMobile account if you give them BankMobile's routing number (121000248) and your account number.

Direct deposit is the easiest for regular paychecks or government payments. Give your employer or benefits administrator BankMobile's routing number and your account number. The money lands on the scheduled deposit date with no delay.

How to withdraw money and use your debit card

Your BankMobile debit card works at any ATM in the Allpoint network, which includes over 55,000 ATMs worldwide. You can also withdraw cash at many retail locations that offer cash back with a debit card purchase. There are no ATM fees at Allpoint machines; if you use an out-of-network ATM, the operator may charge you a fee (usually $2 to $3), and BankMobile will not refund it.

To find an Allpoint ATM near you, use the ATM locator in the BankMobile app or visit allpointnetwork.com. You can also transfer money to another bank account you own — the transfer takes 1 to 3 business days — or request a wire transfer for a fee.

Your debit card can be used for purchases anywhere Visa is accepted. You can set spending limits and turn the card on or off in the app if it is lost or stolen.

Overdraft protection and what happens if you spend more than you have

BankMobile does not charge overdraft fees if you decline overdraft protection when you open your account. If you turn overdraft protection on, the bank will cover transactions that exceed your balance and charge you $35 per overdraft. You can change this setting in the app at any time.

If you do not have overdraft protection and try to spend more than your balance, the transaction will be declined at the point of sale. You will not be charged a fee, but the purchase will not go through. This is the safer option if you want to avoid surprise charges.

What to do if something goes wrong

BankMobile customer service is available through the app and by phone at 1-877-462-2265. You can also email support through the app. Response times vary, but the app usually shows an estimated wait time before you contact them.

If your debit card is lost or stolen, report it in the app immediately and request a replacement. A new card ships within 1 to 3 business days. If you notice an unauthorized transaction, report it in the app or by phone. BankMobile will investigate and typically refund fraudulent charges within 10 business days.

If you have trouble opening your account, the most common reasons are a mismatch between the name on your ID and the name you entered, an unclear photo of your ID, or an issue with your Social Security number verification. Try again with exact spelling and clear photos. If the problem persists, contact customer service.

Frequently Asked Questions

Do I need a minimum balance to keep the account open?

No. BankMobile has no minimum balance requirement. You can keep the account open with zero dollars in it. There are also no monthly fees, so the account will not close due to inactivity.

Can I deposit cash into my BankMobile account?

Not directly through BankMobile. You can deposit cash at an Allpoint ATM using your debit card, or transfer cash from another bank account that you fund with cash. Some people deposit cash at their primary bank and then transfer it to BankMobile via ACH.

How long does it take to receive my debit card?

The card ships within 1 to 3 business days of account opening and typically arrives within 7 to 10 business days. You can use your account and make purchases before the card arrives by setting up a digital wallet (Apple Pay or Google Pay) in the app.

What happens if I close my BankMobile account?

You can close the account anytime through the app or by calling customer service. Withdraw or transfer any remaining balance first. Once closed, the account cannot be reopened — you would need to open a new one.

Is BankMobile safe and insured?

Yes. BankMobile is FDIC-insured up to $250,000, meaning your deposits are protected by the federal government if the bank fails. Your account is also encrypted and protected by the same security standards as other online banks.