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Passbook by Remitly review

Free banking with no foreign transaction fees.’s rating: 4.7 / 5.0


Passbook, which is developed by international money transfer provider Remitly, is a checking account and Visa debit card designed to help immigrants in the US manage their money. There are no fees associated with this account. But there’s currently no way to deposit checks.

$0 per month



Minimum deposit to open


Fee$0 per month
Minimum deposit to open$0
ATM transaction fee$0
Out-of-network ATM fee$0
Foreign transaction fee0%
Overdraft fee$0

Review by

Michael Benninger is a staff banking writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Business Insider and the Los Angeles Times. Michael is passionate about all facets of personal finance and has written hundreds of articles about money management during the past decade.

Expert review

Passbook markets itself as an account for immigrants, since they don’t require a Social Security number to open an account. But most banks don’t require one either and you can open one with an ITIN or passport.

If you typically use Remitly to send money to family and friends, this account could be right for you. You’ll earn $2 when you use your Passbook Visa debit card to send money through Remitly. But if you don’t use Remitly, there are other free checking account options, like Axos Bank’s Rewards Checking account that offers additional features like an APY.

How do I open a Passbook account?

It only takes about 10 minutes to open a Passbook account:

  1. Go to the provider’s site and follow the steps to apply.
  2. Download and launch the Passbook app on your iPhone or Android device, then select Get Started.
  3. Choose to sign up through Remitly or with an email address.
  4. Enter your email address and create a password, then choose Sign Up.
  5. Personalize your card by choosing a flag you’d like printed on your card, then enter your name, birthday and phone number.
  6. Enter the verification code that Remitly sends to your phone.
  7. Complete the signup process by entering your address and uploading a photo of your ID.

It may take up to 10 business days to receive your Passbook Visa debit card.


You must meet the following eligibility requirements to open a Passbook account:

  • At least 18 years old
  • Valid US address

Required information

You’ll need the following documents to open a Passbook account:

  • Social Security number, Individual Taxpayer Identification number (ITIN) or a government-issued photo ID, such as a passport, visa or an identification card from your home country
  • A pay stub, utility bill, lease agreement or official piece of mail with your physical US address

What are the benefits of Passbook?

Like most bank accounts, you don’t need a Social Security number to open a Passbook account. And it’s possible to lock your card to help manage your account. Other perks include:

  • No fees or minimum balance. You won’t have to worry about monthly and overdraft fees or a minimum balance requirement.
  • Travel-friendly. Most bank accounts charge a 3% foreign transaction fee. But with Passbook, you won’t pay a dime.
  • Cash back with Remitly. Get up to $2 cash back when you use your Passbook debit card to send money through Remitly.

Passbook‘s ATM network and fees

Use your Passbook Visa card to withdraw cash for free at thousands of ATMs in Visa’s Plus Alliance network. Remitly doesn’t charge a fee for using your Passbook card at out-of-network ATMs, but third-party ATM operators might charge you.

What should I look out for?

There are a few drawbacks to consider before opening a Passbook account:

  • No check deposits. There’s currently no way to deposit checks into your Passbook account.
  • Cash loading fee. You’ll have to pay a $4.95 fee when you load cash onto your card at a retailer.

Is Passbook legit?

Passbook is not a scam. It’s a legitimate checking account operated by Remitly. It’s also FDIC insured for up to $250,000.

Passbook reviews and complaints

Passbook is not accredited by the Better Business Bureau (BBB), and it has no rating or reviews on the BBB’s website. However, the app has five reviews on Trustpilot, four of which are one-star reviews, while the other is a two-star review. Most of those reviews include complaints about the company’s business practices and some accuse the company of unjustly confiscating funds.

Compare Passbook with other checking accounts

Compare similar accounts based on their interest rates, minimum initial deposits, ATM networks and ATM fees.

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee Offer
HSBC Premier Checking
Finder Rating: 2.7 / 5: ★★★★★
HSBC Premier Checking
0.01% on balances of $5+
Free to use at all ATMs in the US
Get a $500 welcome bonus when you open your account with qualifying activities. Must open HSBC Premier checking account through offer page by February 15, 2023, and set up qualifying direct deposits into the new account totalling at least $10,000 per month for three consecutive months. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.

HSBC Premier Checking offers free global transfers and 24/7 customer support.
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
5.00% on balances of $0 to $10,000
3.00% on balances of $0 to $10,000
55,000+ free Allpoint ATMs worldwide
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards.
Finder Rating: 4.7 / 5: ★★★★★
55,000 AllPoint ATMs around the world for free
Earn $30 bonuses every time a friend signs up for an account and deposits at least $20 in one transaction
No monthly fees. No foreign transaction fees. No fees at 55,000+ Allpoint ATMs.
Chime Checking account
Finder Rating: 4.7 / 5: ★★★★★
Chime Checking account
60,000+ fee-free ATMs
Get rid of fees with this financial app offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
Axos Bank Rewards Checking
Finder Rating: 4.2 / 5: ★★★★★
Axos Bank Rewards Checking
1.25% on balances of $0 to $50,000
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.

Compare up to 4 providers

How do I deposit or withdraw my money?

Although there’s currently no way to do deposit checks with Passbook, there are several other methods to fund your account and withdraw your money:


  • Direct deposit
  • Bank transfers
  • Transfer from PayPal, Venmo or a similar service
  • Deposit at any of the 90,000 retail stores. But you’re limited to $500 or $1,500 per deposit and a $4.95 fee may apply


  • ATMs
  • Cashback at retailers

Frequently asked questions

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We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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