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The Figure Pay deposit account and prepaid debit card let you earn cash back rewards, and you’ll never pay a fee unless you use out-of-network ATMs. It also includes access to credit loans, commonly known as buy now, pay later loans. But you can’t deposit cash or checks, and it doesn’t work with digital wallets. Plus, it’s only available to residents in 17 states.
Monthly maintenance fee
Signature transaction fee
|Signature transaction fee||$0|
|Signature transaction fee (pay-as-you-go plan)||$0|
Michael Benninger is lead editor of banking at Forbes Advisor and a former writer at Finder, specializing in banking. His work and analysis has been featured in Business Insider, Yahoo Finance, GoBankingRates and the Los Angeles Times, among other top media. He holds a B.A. in business administration and marketing from Rowan University in New Jersey.
But it’s only available in 17 states, and it lacks critical features that prevent it from replacing a checking account. For example, you can’t deposit checks into the account and it doesn’t work with digital wallets. Plus, although you can earn cash back, we spoke to two Figure Pay customer representatives who were unable to give us any details. It’s unclear who the participating retailers are, how much cash back you can make and if there are any limitations.
If you’re not sure about this account, compare the top cash management accounts available to see if there’s a better option for you.
To get the Figure Pay card, you must live in one of the 17 states it serves. Sign up in six steps:
To open a Figure Pay account, you must meet the following eligibility criteria.
Provide the following information when applying for a Figure Pay debit card.
There are also some potentially deal-breaking drawbacks associated with this account.
Yes, Figure Pay cards are legit. The deposit account is held at UMB Bank, and Pathward issues your Figure Pay Visa Prepaid Card. Both UMB Bank and Pathward are members of the FDIC, so your account is insured for up to $250,000.
Figure is not accredited by the Better Business Bureau (BBB), which gives it an F rating based on its handling of two complaints during the past three years. Figure also has 26 reviews on the BBB’s website, with an average rating of 2 out of 5 stars.
In contrast, Figure has nearly 1,500 on Trustpilot, where it earns an average rating of 4.7 out of 5. But all the reviews are about Figure’s lending division and not about its Figure Pay card and account.
Use this table to see how other prepaid debit cards compare based on fees and ATM networks.
It will take approximately seven to 10 business days for your card to arrive after you request one in the app.
Once your Figure Pay card arrives, you can use it in the following five ways.
If you need help with your Figure Pay account, you can contact the company in the following ways.
Figure Pay is not currently available on Finder
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