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Qube Money review

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An all-digital cash envelope system that deducts money from categories in real time.

Qube Money, formerly known as ProActive Budget, partnered with Choice Financial to offer a real-time cash envelope budgeting and banking app. Unlike other budgeting apps, this one has an integrated bank account and default zero security. But it’s currently waitlisted and set to launch early next year.

$0

Monthly fee

N/A

APY

$0

Minimum deposit to open

Details

Monthly fee$0
Minimum deposit to open$0
ATMsThousands of free in-network ATMs
ATM transaction fee$0

Expert review

Cassidy Horton

Review by


Cassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

Qube Money is best for anyone who wants to use the cash envelope budgeting method — without having to use actual cash. I’d recommend it to two groups of people in particular: families whose kids are old enough to need money, but too young to need a checking account, and couples who want to keep their main bank accounts separate, but still manage joint money together.

Of all the digital bank and budgeting combo accounts we’ve seen, this one stands apart from the competition for its use of the envelope system and built-in debit card. The debit card deducts money from each category the second you make a purchase. It also gives you the freedom of using its integrated account or linking your external bank account.

On the downside, you’ll pay if you want to use it with a family member. Paid subscriptions range from $8 to $15 monthly. But you can snag a lifetime membership if you purchase it before the app is released.

How does Qube Money work?

Start by funding your Qube Money account or linking your external bank account. Then split your funds into different categories ⁠— or Qubes. You can create Qubes for groceries, mortgage, shopping, utilities, travel and more.

Once you’re ready to make a purchase:

  1. Open the Qube Money app and select the Qube you’re about to use.
  2. Money from that Qube is then instantly transferred to your Qube card.
  3. Complete your purchase online or in person as you would with any debit card.
  4. The money is deducted from your card and the remaining balance is sent back to the Qube Money app.

Is Qube Money safe to use?

Unlike other debit cards, the Qube card has a default balance of $0, which means there’s zero risk or liability if your card is lost or stolen. The only way you can use the card is if you “activate” a Qube in the app first.

How much does it cost?

Qube Money has three different plans for individuals, couples and families. You’re typically charged monthly or annually. But you can snag a lifetime membership if you purchase a plan before the app is released.

PlanCostBest forFeatures
Free$0Individuals
  • One debit card
  • Limited Qubes
  • Manual transfers
Premium
  • $216 for lifetime membership
  • $8 monthly
  • $96 annually
Couples
  • Two debit cards
  • Unlimited Qubes
  • Partner spending permissions
  • Bill pay
  • Savings account
  • Early access to app
Family
  • $324 for lifetime membership
  • $15 monthly
  • $180 annually
FamiliesEverything in Premium, plus:

  • Up to 10 kid cards
  • Kid view budgeting
  • In-app chore tracking
  • Parent permissions
  • Automatic transfers
  • Early access to the app

What are the benefits of Qube Money?

Qube Money is a first-of-its-kind budgeting product that comes with a Qube Visa debit card, FDIC insurance, and these additional perks:

  • Banking options. Choose to link your external bank account or use Qube Money‘s integrated account.
  • Real-time budgeting. Qube Money‘s most unique feature is that funds are instantly deducted from the app as soon as you swipe the card.
  • Custom allocations. Those with irregular income can set up custom allocation plans to have a percentage of each paycheck put into a certain category.
  • Added security. Qube card has $0 default balance, so funds are only available when you open the category on your phone. This makes it difficult for someone to use your card without your permission.

Qube Money‘s ATM network and fees

Qube Money hasn’t released details on available ATMs. But a customer service representative said they plan to have thousands of free in-network ATMs and that the app will help users locate the nearest one.

What to watch out for

Before joining Qube Money, consider these disadvantages:

  • Currently waitlisted. The Beta version launches in August 2020 and the final version is set to launch early next year, according to a Qube Money representative.
  • Subscription fees. You’ll pay $8 to $15 a month if you want to use Qube Money with your partner or kids. But individual plans are free and you have the option to pay on annually or pay once for a lifetime membership.
  • Limited lifetime membership. If you want a lifetime membership, you’ll need to get it before the app is officially released. According to a customer service representative, there’s a money-back guarantee if you’re not satisfied.
  • Free plan restrictions. The free plan has lower transfer limits and no automatic transfers from an external account, so you have to manually move money into Qube when it’s time to refund your card.

New to budgeting? Get the rundown on how to use a budget in our budgeting guide for beginners.

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How to sign up

Qube Money isn’t available yet. Join the waitlist in three simple steps:

  1. Go to the official Qube Money website and click Get early access.
  2. Enter your name and email address and click I’m in.
  3. You’ll then see your position on the waitlist (ours was #12,264). Move up in the waitlist and gain earlier access by inviting friends to join on social media.

Eligibility

Anyone who meets these requirements can open a Qube Money account:

  • US resident
  • At least 18 years old
  • Valid Social Security number

Required information

Have the following information on hand when you open your Qube Money account:

  • Full name
  • Email address
  • Residential address
  • Date of birth
  • Social Security number
  • Login information for your linked bank account

How do I deposit or withdraw my money?

Details about Qube Money‘s funding options are still being worked out, but here are some of the ways to access funds in your account:

Deposits

  • Direct deposit
  • Check deposit via the mobile app
  • ACH transfer from another bank

Withdrawals

  • ATM withdrawals
  • ACH transfer to another bank

Frequently asked questions

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