Friends Referral Reward Checking Account

By expanding your referral network with the friends account, you could earn extra money each month.

Your referral code is used by your friends to open an mph.bank account. You must use your mphCard for 15 purchases before your rewards are "unlocked" and you may start earning them each month. Each month that your friend and their friends make 15 mphCard transactions, you receive $1.

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The $9 monthly fee for the Friends Spend Account is waived if 15 mphCard (debit card) purchases are made by the last business day of the month. It also offers a unique refer-a-friend incentive, which is described below, that can result in incentives of up to $8,500 each month when you share with friends.

With the mph.bank, you can earn up to $8,500 in referral bonuses each month with a Friends Account, but both you and your referrals must satisfy the referral conditions each month.

To take part, you must provide your friends with your exclusive referral code, and they must enter it when they create new accounts.

For each verified account you suggest, as well as for up to 6 of your referrals' connections (the individuals they refer), you will receive a monthly payment of $1.

By the last business day of the month, you and they must each have at least 15 mphCard transactions recorded in your respective accounts to be eligible.

Depending on of how many individuals you or they have referred, each member is only eligible to receive $8,500 in referral bonuses per month.

The $9 monthly cost for the mph.bank Friends Account is immediately waived the first month the account is open as well as the next full month.

Every month that there are 15 posted mphCard transactions by the final business day of the month will also result in the $9 monthly fee being eliminated.

You will additionally receive a 0.55% APY on your Friends Account on the first $5,000 in "Spend" balances when you satisfy the requirements to avoid paying the fee.

Checking account details

Checking account fees

  • Monthly Fee
    $9
  • APY
    0.00% APY
  • Minimum Deposit to Open
    $0
  • Out-of-Network ATM Transaction Fee
    $0
  • Out-of-Network ATM Withdrawal Fee
    $0
  • Overdraft Fee
    $0
  • Non-Sufficient Funds Fee
    $0
  • Foreign Transaction Fee
    $0

Friends Referral Reward Checking Account FAQ

1. Should I Start Over Each Month With Referral Rewards?

It's not necessary to start anew each month. Your referral network might expand from year to year as well as from month to month.

2. How Can I Start Using Referral Rewards?
  • You select your referral code and open an mph.bank account.
  • Send your friends the code and request that they open an mph.bank account.
  • Your referral code is used by your friends to sign up with mph.bank.
  • You must use your mphCard for 15 purchases before your rewards are "unlocked" and you may start earning them each month.
  • Each month that your friend and their friends make 15 mphCard transactions, you receive $1. Your Referral Rewards network can have friends up to six levels deep.  They add up!
3. Do I Receive Referral Rewards Each Month?

Yes. While you sleep each month, you might earn $1 for each friend you refer, up to six degrees of separation.

4. Is It Safe And Secure?

A secure banking experience is provided by mph.bank. Both the website and the app include bank-level security features and 256-bit encryption.

The money in your bank accounts is also up to $250,000 covered. Liberty Savings Bank provides FDIC insurance. Overall, you should feel at ease using mph.bank to make banking transactions.

5. Is It Worth It?

mph.bank is a terrific answer if you're seeking an efficient way to handle multiple savings objectives. Setting up various savings goals and being able to track your development can be very beneficial.

Additionally, they offer a top-notch money market account at no charge.

The $9 monthly cost for their other products, though, is a little high. mph.bank is a good choice if you can fulfill the requirements to be exempt from the fee due to the competitive APY. However, if the price is not waived, using mph.bank will cost you a lot of money.

In the end, you'll have to choose whether you like the mph.bank platform. If not, there are numerous alternative banking solutions available.

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Check Out Other Products From MPH Bank
Bank Monthly Service Charge Minimum Deposit to Open APY
Free Digital Checking Account $0 $0 1.00% APY
Friends Referral Reward Checking Account $9 $0 0.00% APY
First Student Checking Account $0 $0 1.00% APY
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