BankMobile Checking and Savings Accounts | BMTX (2024)

FAQs

Can I have a checking account and a savings account at the same time? ›

Yes. There are no restrictions on the number of checking and savings accounts you can open or the number of banks or credit unions with which you can have accounts.

The BankMobile Vibe Checking Account is available to students who attend a college or university we partner with to disburse same-day financial aid refunds.

Linking your checking and savings accounts together makes it possible to use your savings as overdraft protection. This is a service that you specifically have to opt in to at your bank, and it can help avoid overdraft fees.

An interest rate of 0.50% will be paid for average daily balances up to $15,000.00 with an APY of 0.50%; average daily balances greater than $15,000.00 will earn a 0.01% interest rate only for that portion of the average daily balance that is greater than $15,000.00.

The more accounts you have, the more you have to keep track of, which can complicate your finances. Depending on the number of banks you work with and the fees involved, you may have to pay a lot to keep your accounts open. You may also have to spend more time monitoring your accounts.

Yes, you can have multiple checking accounts at the same bank. If you opt for more than one checking account, having them at the same bank can help simplify your finances. You can likely link your accounts and see everything in one place when you log in online.

Yes. There is an ATM cash daily limit of $500 and daily limit of $2,500 using the card for purchases or at a bank teller.

BankMobile banking products and banking services are provided by First Carolina Bank, Member FDIC & Equal Housing Lender. BankMobile Vibe Checking Account offers: Fee-free access to over 55,000 Allpoint® ATMs (Allpoint ATM location, availability, and hours of operation may vary by merchant and is subject to change)

Yes. The BankMobile Vibe Checking Account has a $2.99 monthly service fee, however, you may avoid this fee by making Qualifying Deposits totaling $300 or more per statement cycle.

How much is too much? The general rule is to have three to six months' worth of living expenses (rent, utilities, food, car payments, etc.)

Is it better to keep money in savings or checking? ›

If you're just looking to pay for everyday expenses, a checking account is the way to go. If you're focusing on growing your money, a savings account is a better fit. Regardless of the account type you choose, make sure you pick one suited to your financial needs and goals.

Many personal finance experts recommend saving at least three to six months' worth of expenses.

The BankMobile Vibe Checking Account is exclusive to students attending our 750+ college/university campuses across the U.S. After getting your same-business-day refund, continue using your account for life. Every year, hundreds of thousands of students choose to open a Vibe account.

WIRE TRANSFER MONEY FROM BankMobile to ANOTHER BANK ACCOUNT

- There is a $25 fee for every wire transfer.

BM Technologies, Inc. (NYSE American: BMTX) - formerly known as BankMobile - is among the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, providing access to checking and savings accounts and financial wellness.

There is no limit on the number of bank accounts, whether they're checking, savings or any other, an individual can hold.

You Could Take Advantage of Higher Interest Rates

Spreading your money out across different savings accounts from various banks could help you take advantage of higher interest rates.

Can I open two Savings Accounts in the same bank? Yes, you can open two Savings Accounts in the same bank. Many banks allow multiple accounts. But, you must check with your specific bank for their policies and the number of accounts you can open in their bank.

While there's no limit to how many Savings Accounts you can have, there are a few things to consider before signing up for more than one. According to financial experts, it isn't advisable to open more than three Savings Accounts, as it can be difficult to manage.