BankMobile is a mobile-first bank owned by Megalith Financial, with no physical branches

BankMobile is an online bank that operates through a mobile app and website, with no brick-and-mortar locations. It offers checking accounts with no monthly fees, no minimum balance requirements, and no overdraft fees. The bank is FDIC-insured through its partner bank, so your deposits are protected up to $250,000.

BankMobile is known for serving students and younger adults, though anyone can open an account. The account setup happens entirely on your phone or computer, and you can start using it within minutes of approval. There is no waiting period for a debit card — it arrives by mail in 7 to 10 business days.

Key Takeaways

  • You need a valid government ID, Social Security number, and proof of a current address to open a BankMobile checking account.
  • The entire process takes place through the BankMobile app or website and takes about 10 minutes to complete.
  • Your account is active when ready after approval, though your physical debit card arrives in 7 to 10 business days.
  • BankMobile charges no monthly maintenance fees, has no minimum balance, and does not charge overdraft fees.
  • You can deposit checks using mobile check deposit, transfer money from another bank, or receive direct deposits.

What you need before you start

Gather these documents before opening the app or visiting the website. You will need them during the signup process and cannot complete your account without them.

A valid government-issued ID is required — a driver's license, state ID card, or passport. The ID must not be expired. You will photograph both sides of it during signup, so have it in front of you.

Your Social Security number is required for identity verification and tax reporting. BankMobile will ask for all nine digits.

Proof of your current address is needed. This can be a recent utility bill, lease agreement, or bank statement showing your name and address. The document should be dated within the last 60 days. If you do not have one, you can use a government-issued ID that shows your current address instead.

You will also need a phone number and email address. BankMobile uses these to contact you and to send account notifications.

The step-by-step signup process

read the BankMobile app from the Apple App Store or Google Play, or visit bankmobile.com on a web browser. Either method works — the process is the same.

Tap or click "Open an Account" and select "Checking Account." You will be asked whether you are a student. This does not affect your ability to open an account; it only determines which features are highlighted to you.

Enter your email address and create a password. BankMobile will send a verification code to your email — check your inbox and enter it to confirm.

Provide your full legal name, date of birth, and Social Security number. BankMobile runs a background check at this stage to verify your identity. This usually takes a few seconds, though it can take up to 24 hours in some cases.

Enter your current address and phone number. Upload a photo of both sides of your government ID. The photo must be clear and show all four corners of the card. If the photo is blurry or cut off, BankMobile will ask you to retake it.

Upload proof of your address if your ID does not show your current address. A photo of a utility bill or lease works — make sure your name and address are visible.

Review the account agreement and privacy policy, then confirm that you accept them. You cannot open an account without accepting these terms.

Once BankMobile approves your process, you will see a confirmation screen. Your account number appears when ready, and you can begin using your account right away through the app or website.

How to fund your new account

Your BankMobile account is open and ready to use, but it has a zero balance until you add money. There are three main ways to do this.

Mobile check deposit lets you photograph the front and back of a check and deposit it through the app. The check must be endorsed on the back. Most checks clear within one to two business days. You can deposit up to $10,000 per day and $25,000 per month through mobile deposit.

External transfer moves money from another bank account you own. In the app, go to "Move Money" and select "Transfer from Another Bank." You will enter the other bank's routing number and your account number there. BankMobile will ask you to verify the transfer by depositing two small amounts (usually under $1 each) into that account — you then confirm the amounts in the BankMobile app. This process takes three to five business days the first time, then becomes when ready for future transfers.

Direct deposit is the fastest way to get recurring money into your account. Your employer or benefits provider can deposit your paycheck or benefits directly. You will need to provide BankMobile's routing number (021000021) and your account number, which you can find in the app under "Account Details."

Your debit card and ATM access

BankMobile mails your physical debit card to the address you provided during signup. It arrives in 7 to 10 business days. You can use your card at any merchant that accepts Mastercard, since BankMobile debit cards run on the Mastercard network.

You can withdraw cash at ATMs that are part of the Allpoint network, which includes over 55,000 ATMs worldwide. Most Walgreens, CVS, and grocery store ATMs are Allpoint machines. Withdrawals are free at Allpoint ATMs. Withdrawals at non-Allpoint ATMs cost $2.50 each.

While you wait for your physical card, you can use your account number and routing number to make online purchases, pay bills, or set up automatic payments. You can also request a temporary virtual card number through the app for when ready online shopping.

Fees and features you should know

BankMobile charges no monthly maintenance fee, no minimum balance fee, and no overdraft fees. If you spend more than your balance, the transaction is declined — you are not charged an overdraft fee and you do not go into the negative.

The bank does charge $2.50 for each out-of-network ATM withdrawal, and $3 for a wire transfer sent to another bank. Incoming wire transfers are free.

BankMobile offers a savings account in addition to checking, though it earns minimal interest (rates vary and are typically below 0.01%). The main value of the savings account is separating money you want to keep from money you spend regularly.

The app includes spending tracking, bill pay, and the ability to set up automatic transfers to your savings account. You can also freeze or unfreeze your debit card when ready through the app if it is lost or you suspect fraud.

What happens if your process is denied

BankMobile may deny your process if the background check reveals a mismatch in your identity information, if you have a history with ChexSystems (a banking verification system that tracks closed accounts and fraud), or if you are under 18 and do not have a parent or guardian co-signing.

If your process is denied, BankMobile will send you an email explaining the reason. You can contact BankMobile customer service through the app or at 1-877-265-6265 to ask for more details or to dispute the decision if you believe the information is incorrect.

If you were denied because of ChexSystems, you can request your ChexSystems report at chexsystems.com and dispute any errors. Once errors are corrected, you can reapply to BankMobile.

Frequently Asked Questions

How long does it take to get approved?

Most applications are approved within seconds or minutes. In some cases, BankMobile flags an process for manual review, which can take up to 24 hours. You will receive an email once your process is approved or denied.

Can I use my BankMobile account right away, or do I have to wait for the debit card?

Your account is active when ready after approval. You can transfer money in, set up direct deposit, and make online purchases using your account number and routing number. You do not need to wait for the physical debit card to arrive.

What if I need to close my account?

You can close your BankMobile account through the app or by calling customer service at 1-877-265-6265. Make sure your account balance is zero before closing — you will need to withdraw or transfer any remaining money first.

Is BankMobile safe?

BankMobile is FDIC-insured through its partner bank, so your deposits are protected up to $250,000. The app uses encryption and two-factor authentication to protect your login. You can also freeze your debit card when ready through the app if you suspect fraud.

Can I deposit cash into my BankMobile account?

BankMobile does not accept cash deposits directly. You can deposit checks through mobile check deposit, transfer money from another bank account, or receive direct deposits. If you need to deposit cash, you can deposit it into another bank account you own, then transfer it to BankMobile.