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.

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.

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 92,000 surcharge-free ATMs** across the country and internationally – more ATMs than the top five U.S. banks own, combined^^.

Our network of over 92,000 fee 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.

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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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).

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.

At this time MemoryBank only offers personal checking and money market accounts.

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.

  1. Your U.S. Social Security number
  2. A valid driver's license or State 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, a U.S. checking or savings account to fund your new account or a check to be mailed in (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.

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.You will begin earning interest on the effective business date which we receive your verification of these test transactions.

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

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.

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.

There are several ways to withdraw your funds if needed. You can create an ACH or external transfer, wire, or request a certified check. You can also open a checking account and transfer between the accounts.

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.

Yes, one POD can be added per account.

Customers are limited to four EarnMore Checking accounts per social security number and one Online Money Market Account per social security number.

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.

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.

We do not require a minimum balance, you earn the full interest on any balance up to $1,000,000.00.

Federal law limits the number of certain types of withdrawals and transfers from savings accounts. There is a limit of 6 ACH automatic payment, telephone or Internet withdrawals, certified check withdrawals or transfers per statement cycle. If you exceed these transactions more than 4 times in a rolling 12 month period, we reserve the right to close the account.

Your Online Money Market Account closely resembles a checking account. When setting up micro deposits from an outside institution, be sure to select checking account so that the micro deposits complete successfully.

Yes. Please call or use our live chat feature and our customer service agents will assist you with linking your Online Money Market to your existing debit card.

When you open an EarnMore 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®.

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.

For both interest-bearing accounts interest is accrued daily and credited to your account monthly.

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 "Online Banking Login" button at the top of every page on this site, and then clicking “New User”.

Yes, MemoryBank can initiate a wire transfer for you. However, there is additional documentation that is needed and is required to be in by 12 PM for the wire to go out same day.

MemoryBank provides you a MasterCard Debit Card that enables you to shop anywhere MasterCard is accepted. In addition, with access to over 92,000 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.

We do not offer a debit card or checks on the Online Money Market account.


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.