What Is Credit Karma Money Spend Account?
What is Credit Karma Money Spend Account? Do you want to know more about Credit Karma Money Spend Account? Or you just want to know the steps of their login and sign up process? Whatever you need to know about Credit Karma Money Spend Account, just read this article.
Stay with us till the end of this article, and you shall get all your queries and doubts fixed. In this article, we will try to cover almost everything possible about Credit Karma Money Spend Account that you need to know about. So, stay tuned, and let’s begin!
Related: Credit Karma Login | How to Access Your Account
What Is Credit Karma Money Spend Account?
Credit Karma Money Spend is a checking account with no penalties, minimum balance requirements, or overdraft fees. Credit Karma Money Spend account is free to open and comes with a Visa debit card that allows users to make purchases at any merchant accepting Visa cards.
Features Of Credit Karma Money Spend
The Money Spend has several offerings for the users, such as:
- No Overdraft Fees: Overdraft fees are usually charged if you use your debit card or write checks without having enough money in the account to cover the transactions. Fortunately, Credit Karma doesn’t charge an overdraft fee.
- Early Payday: With Early Payday, you get your paycheck up to two days before time.
- Free ATM Transactions: With Money Spend debit card, you can use 55,000 in-network Allpoint ATMs for unlimited free withdrawals. These ATMs are readily available at popular retailers like Target, CVS, Kroger, and Walgreens.
- In-App Controls: Everything that happens with your account or debit card, such as transactions and funds transfer, can be monitored and performed using the Credit Karma app.
- Instant Karma: Every eligible purchase using your Credit Karma debit card gives you a chance to win an Instant Karma purchase reimbursement. It’s a great way to earn and save extra money.
Who Is Credit Karma Money Spend Account For?
The Credit Karma Money Spend account is ideal for younger people who don’t want to be burdened by minimum balance fees and prefer debit cards over credit cards.
Moreover, it’s a no-fuss, free-to-open account that first-time account holders will be comfortable using. Do you want to know how to open Credit Karma Money Spend Account? If yes, then follow the instructions below.
How To Open A Credit Karma Money Spend Account
To open your Credit Karma Money Spend account:
- Visit the Credit Karma Money Spend home screen while logged into your Credit Karma account.
- Select Confirm if your personal information looks correct. If it is incorrect you can update your personal information in your profile.
- Confirm your mailing address is correct so we can send you your new debit card and select Confirm.
- Select Edit if you need to change your mailing address.
- Verify your phone number on the following screen by selecting Confirm
- Read and agree to the E-Sign consent and account agreements by checking the boxes.
- Select Accept and create my account.
- After our system validates your information you will have a Credit Karma Money Spend account!
- Your debit card should arrive at the mailing address you provided soon.
How To Make a Deposit Into Credit Karma Money Spend Account
You can make deposits into your Credit Karma Money Spend account using the following methods:
- Transfer from your Credit Karma Money Save account
- Transfer from your linked external account
- Deposit a check using the Credit Karma Mobile app
- Direct deposits using your account and routing information
- ACH transfers from an external source using your account and routing information
At this time they do not currently offer a way to deposit cash directly into your checking account.
To transfer from Credit Karma Money Save account or from your linked account:
- Access your Credit Karma Money Spend account.
- Select the option to make a deposit or transfer.
- Select Internal Transfer for transfers from your Credit Karma Money Save account or External Deposit for transfers from your linked account.
- Enter the amount you would like to deposit.
- Tap or click in the “From” field to select an account
You will have the option of your Credit Karma Money Save account or your linked external account.
- Select the Review button that also shows the amount you entered above.
- On the confirmation screen, choose Confirm to submit your deposit request.
- You should see a message “your money is on the way!” confirming that your transfer request has been submitted. They will also send you an email confirmation of your transfer request.
Transfers from your Credit Karma Money Save account are available immediately. Deposits from external accounts typically take 2-3 business days to show in your account and are available to use or withdraw within 3 additional business days.
You can also have deposits made to your Credit Karma Money Spend account by setting up direct deposit with your employer. You can also send money to your checking account using your account and routing numbers but make sure to only share this information with people and businesses you trust.
How To Check Your Credit Karma Money Spend Account Balance
You can view your Credit Karma Money Spend and Save account balances any time through the Credit Karma website or our mobile app for iOS and Android.
To view your balances, visit the homepage for your Spend account:
Current balance is the amount of money in your account that includes holds and pending transactions. This is different from your Available balance, which is the amount that’s available to withdraw or spend right now.
You can download the Credit Karma mobile app to check your balances when you are away from your computer using the following links: