MemoryBank FAQs

At MemoryBank, we work hard to offer you more. All to help you get more - more for your money, and more time to focus on the important things in your life.

What is MemoryBank?

How safe is branchless banking with MemoryBank?

What products does MemoryBank offer?

Does MemoryBank have any locations?

Where are MemoryBank ATMs located?

Who can open an account with MemoryBank?

Can I open a joint account at MemoryBank?

Can businesses open accounts at MemoryBank?

How do I apply for an account at MemoryBank, and how long will it take me to apply?

What do I need to have to apply for and open an account with MemoryBank?

If I fund my account from another account at a different financial institution, what is the process and how soon will I begin earning interest?

How long will it take to receive my MemoryBank MasterCard® Debit Card?

How can I get a replacement card?

Will I receive checks?

How do I begin using MemoryBank mobile and online banking?

Why do I need to create two different username and password combinations?

What if I've forgotten my password (or I've been locked out of the system)?

Can I access mobile and online banking at any time?

How frequently is my MemoryBank account information updated?

How do I make a deposit?

How do I deposit cash?

How do I set up Direct Deposit of my payroll or other monthly income?

After I have signed up online for Bill Pay, how long does it take for me to start paying bills on mobile or online?

How do I withdraw my money?

What is the Purchase Rewards Program?

Are wire transfers possible from my MemoryBank account?

Can I get information about my account by phone?

What is MemoryBank?

MemoryBank is a national branchless all-digital banking platform. As a division of Republic Bank & Trust Company, MemoryBank provides its account holders the peace of mind that comes with knowing it is a Member of FDIC with the highest possible A+ rating from the Better Business Bureau.

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How safe is branchless banking with MemoryBank?

As part of an established, trusted bank with over $4 billion in assets, we utilize advanced security technology to protect your financial data, and deposits up to $250,000 are FDIC-insured. We have also been recognized as an A+ rated company by the Better Business Bureau.

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What products does MemoryBank offer?

We currently offer our high-earning interest checking account, the EarnMore^ account, a free checking account, MemoryBank Free Checking account, and Memory Builder, a second chance checking account. In the future we plan on expanding our product line to include loan products and other deposit products.

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Does MemoryBank have any locations?

MemoryBank does not have any physical branches. Because MemoryBank is a national branchless all-digital banking platform, we spend less on expensive branches – that's how we can offer higher interest rates. In other words, saying no to branches means saying yes to more of what you want and need from a bank. And with your MemoryBank MasterCard® Debit Card you have access to over 85,000 surcharge-free ATMs** across the country and internationally – more ATMs than the top five U.S. banks own, combined^^.

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Where are MemoryBank ATMs located?

Our network of over 85,000 surcharge-free ATMs** is spread across the United States and internationally – more ATMs than the top five U.S. banks own, combined^^. To find your nearest ATM, use the ATM locator on this site or in the MemoryBank Apps for iPhone®, iPad® or Android™ phones and tablets.

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Who can open an account with MemoryBank?

We currently offer accounts to permanent residents of the U.S. and its territories over 18 years of age with a Social Security Number or Individual Taxpayer Identification Number (ITIN).

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Can I open a joint account at MemoryBank?

Absolutely. And it’s easy. Just be sure to have both sets of required personal information ready to enter as you open your account. See below for more information on what's required.

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Can businesses open accounts at MemoryBank?

At this time MemoryBank only offers personal checking accounts.

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How do I apply for an account at MemoryBank, and how long will it take me to apply?

The online application process can be completed on either a mobile device or computer and can take as little as 10 minutes. Click here to get started.

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What do I need to have to apply for and open an account with MemoryBank?

  1. Your U.S. Social Security number
  2. A valid driver's license, State ID or Military ID
  3. Current address, and previous home address if you have lived at your current address less than two years
  4. An email address where we can send your account information
  5. A credit or debit card, or a U.S. checking or savings account to fund your new account (We require a minimum opening deposit. See product disclosures for specific amounts.)

If you are opening a joint account, you will need items 1 through 3 above for each applicant.

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If I fund my account from another account at a different financial institution, what is the process and how soon will I begin earning interest?

2 to 3 days after you provide the funding account information, we will make two small test deposits into (and two equal withdrawals from) your funding account. Once these test transactions are received, you will need to log back into your MemoryBank application and provide the two deposited amounts when prompted. If you open an EarnMore^ account, you will begin earning interest on the effective business date which we receive your verification of these test transactions. The MemoryBank Free Checking account and the Memory Builder Second Chance Checking account is a non-interest bearing checking account. 

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How long will it take to receive my MemoryBank MasterCard Debit Card?

You should receive your card approximately 3 to 5 business days after account funding.

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How can I get a replacement card?

To replace your card, log in to your account on the web and click “Manage My MemoryBank,” or give us a call at 1-877-757-3400. Delivery is free for standard 3 to 5 business day delivery, but you can request expedited 2-day and next day delivery for an additional charge. Expedited requests for 2-day must be made by 2:00PM Eastern, and for next-day must be made by 11:00AM Eastern..

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Will I receive checks?

When you open your account you can request a starter sleeve of three checks. We encourage you, however, to utilize our free online bill pay and other online and mobile transfer features, such as Popmoney®.

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How do I begin using MemoryBank mobile and online banking?

After opening your account, you will be provided your account number which you will use to enroll in mobile and online banking. It’s easy to get set up with MemoryBank Apps‡ for iPhone, iPad or Android phones and tablets. Click here to find the MemoryBank App you need, download the App and click “Sign Up”. You can also enroll in online and mobile banking with a new username and password by clicking the "Login/Enroll" button at the top of every page on this site, and then clicking “New User”.

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Why do I need to create two different username and password combinations?

For your security, you will be required to set up a different username and password than you used when applying for your account to begin using MemoryBank mobile and online banking. To ensure your security, this username and password combination should be different than the combination you used for your account application.

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What if I've forgotten my password (or I've been locked out of the system)?

On your computer click the Login button and click "Forgot Password," or on the App click "More" and "Recover Credentials." Or, give  us a call at 1-877-757-3400 or click on the Live Assistance button on our contact page to have your password reset.

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Can I access mobile and online banking at any time?

Yes! Once mobile and online banking are activated, you'll have access to your account information and the features and benefits of MemoryBank 24 hours a day, 7 days a week.

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How frequently is my MemoryBank account information updated?

Transactions are displayed within mobile and online banking in real-time, which means that most transactions are reflected immediately on your account. ATM and point-of-sale transactions using your MemoryBank MasterCard Debit Card are visible as soon as they are received by the bank.

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How do I make a deposit?

Adding money to your account is simple. You can deposit checks using our mobile deposit1 feature, set up a direct deposit, or set up transfers from other financial institutions. We also offer Popmoney, which is a popular way of transferring money between your MemoryBank account and just about anyone who has an email address or mobile phone number.

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How do I deposit cash?

As an all-digital banking platform, we currently do not accept cash deposits. You can deposit the funds into another bank account and then transfer the funds to your MemoryBank account using our external transfer feature on our online banking website. At no time should you ever mail cash to us.

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How do I set up Direct Deposit of my payroll or other monthly income?

After your MemoryBank application has been approved, you will receive MemoryBank’s routing number and your account number. If your employer participates in a direct deposit program, simply provide this information to the human resources or payroll department at your company, and your direct deposit will usually begin within thirty days. To set up any other monthly direct deposits, such as Social Security, you will need MemoryBank’s routing number and your account number, along with our bank name when you contact the department or office that manages monthly deposits.

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After I have signed up online for Bill Pay, how long does it take for me to start paying bills on mobile or online?

Once you have completed your Bill Payment application located under the Bill Payment tab in online banking, you will be able to start Bill Payment within 1-2 business days. You will be notified by e-mail once your application has been processed. Click here for more information on Bill Pay.

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How do I withdraw my money?

MemoryBank provides you a MasterCard Debit Card that enables you to shop anywhere MasterCard is accepted. In addition, with access to over 85,000 surcharge-free ATMs**, you’ll have easy access to your cash. We also offer free online bill pay, Popmoney‡, and other external transfer options available through the web and full-featured iPhone and Android mobile Apps.

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What is the Purchase Rewards Program?

Purchase Rewards lets you earn cash rewards by using your MemoryBank MasterCard debit card to purchase merchandise and services. The program is available to all MemoryBank MasterCard debit cardholders. Through this program, you’ll receive targeted offers to receive rewards on purchases based on how you shop. Offers are based on how you currently shop to ensure the offers you receive are relevant. It may take up to 60 days after you start using your debit card for offers to become available. The more you use your MemoryBank MasterCard debit card, the more chances you will have to receive relevant offers.  See the Purchase Rewards FAQs for more information.

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Are wire transfers possible with my MemoryBank account?

You are welcome to wire funds into your account but we currently do not offer outgoing wire services.  To accept a domestic incoming wire, please inform the sender to use our incoming wire routing number: 091017620, along with your MemoryBank account number. If you wish to accept an international incoming wire, please contact us at (877) 757-3400 for instructions.  Incoming wires occurring within the first 30 days of account opening will be refunded the wire fee.  Please see our Fee Schedule for more information.  Other ways you can move money in and out of your account include external transfers and PopMoney®.

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Can I get information about my account by phone?

Yes! Click here for contact information so you can speak with one of our real, live (and really nice) client service representatives who will be happy to review your account with you and answer your questions.

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1 Message and data rates from your wireless carrier may apply. Usage and qualification requirements apply for Mobile Deposit. Some mobile deposits may have the availability of funds delayed based on recent account activity or other factors outlined in the updated Internet and Mobile Banking End User Agreement. If funds are delayed you will be notified by email detailing when the funds will be available for use.