mph.bank is a digital bank that focuses on delivering value directly to its customers. It is a brand of Liberty Savings Bank, F.S.B., a well-established bank founded in 1889.
mph.bank stands for Makes – People – Happy and one way they accomplish this is through the fresh start checking account designed to give people a second chance at banking.
Is mph.bank legit?
Yes. mph.bank is legitimate licensed bank operating online in 50 states as well as being FDIC-insured up to $250,000 per depositor.
mph.bank is the best choice if you've had past ChexSystems issues and are looking for a fresh start checking account online.
- Get paid up to 2 days early – Set up direct deposit.
- Personalized Dashboard -Keep it basic, or change it to make it fit you.
- Round-up Widget – A simple way to save that puts you in control.
- Free ATMs Nationwide – 55,000 Free AllPoint ATMs.
Account Basics
Making people happy is at the heart of mph.bank, with accounts and solutions to fit almost every banking need.
Here are the details of mph.bank's fresh start checking, along with the bank’s other offerings.
Fresh Start Banking
mph.bank Fresh Start Banking is a basic low-cost checking account with a $25 minimum opening deposit. If you’re in the market for second chance banking options, this might be the time to think about mph.bank.
The Fresh account has a $9.00 a month service fee and $10.00 overdraft fee.
Despite the fees, the account offers plenty of ways to save money, including:
- 55,000 free ATMs
- No fees to send money via Zelle
- No fees for online bill pay
Keep in mind that these free features are included with many popular checking accounts these days.
Also, mph.bank's Fresh account doesn't come with check-writing privileges. However, you can access your funds at more 55,000 fee-free ATMs nationwide.
Unique Features
Goals Savings: Create different savings goals within one account and earn 1.00% APY on your goals savings account balances.
Round-up Widget: Automatically “Round-up” your purchases and put the spare change in one of your “Goals” accounts.
Get Paid Up To 2 Days Early: Get your cash sooner. Available with direct deposit from your employer, benefits, or retirement.
Check your credit score: This free tool allows customers to monitor their credit score. This can be helpful for people looking to improve their credit score along with a fresh start at banking.
Set in-ap travel notifications: Travel notifications to prevent legitimate transactions from being flagged as suspicious or fraudulent while the customer is traveling.
Other mph.bank Products
mpph.bank offers numerous personal banking products and solutions, including:
How to mange a fresh start checking account
Managing a fresh start checking account after being in ChexSystems requires a responsible approach and mindful habits.
Here are 6 best practices:
- Budgeting and Tracking: Create a detailed budget and start tracking all income and expenses to ensure you're living within your means.
- Monitor your account regularly: Use online banking or mobile apps to check your balance and track transactions. This helps you stay on top of your spending and avoid overdrafts.
- Set up alerts: Many banks offer text or email alerts for low balances, large withdrawals, or upcoming payments. These can help you avoid unexpected fees.
- Set up direct deposit: Having your paycheck or benefits deposited directly into your account can help ensure you have funds available and reduce the risk of overdrafts.
- Use a debit card wisely: Keep track of your spending and avoid making purchases you can't afford.
- Use savings tools: mph.bank offers automated savings features that round up purchases to the nearest dollar and deposit the spare change into a savings account.
mph.bank's deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to the standard limits.
Fresh start checking is a competitive option for re-establishing a positive banking history and having a secure, cost-effective account to conduct financial transactions.
