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To view important disclosures about the Experian Smart Money™ Digital Checking Account & Debit Card, visit experian.com/legal.
The Experian Smart Money™ Digital Checking Account and Debit Card is a legitimate digital checking account that's available with a free Experian membership. The account uses similar security features as online checking accounts from banks and credit unions, and your deposits are insured by the Federal Deposit Insurance Corp. (FDIC) through Experian's bank partner, Community Federal Savings Bank (CFSB), member FDIC.§
What Is Experian Smart Money?
The Experian Smart Money Digital Checking Account and Debit Card is an account and debit card you can get with a free or paid Experian membership. The account links to Experian Boost®ø, which could help you get credit for the eligible bills that you pay with your Experian Smart Money Digital Checking Account (and other accounts).
Is Experian Smart Money Safe?
Several features can help keep your Experian Smart Money Digital Checking Account and the money in the account safe, including:
- FDIC insurance: Deposits in your Experian Smart Money Digital Checking Account are held by Community Federal Savings Bank (CFSB), member FDIC. The FDIC insures deposits up to $250,000 per depositor, per ownership category.
- Experian's safety measures: Safety is one of Experian's five Global Data Principles, and Experian continually invests in physical and electronic security systems to keep data safe.
- Two-step verification: You can go to your Experian membership account information page to enable two-step verification. Anyone trying to log in to your account will then be asked to enter a code that's sent to your phone or email—you can check "remember this device" if you plan on accessing your account from the same device in the future. Two-step verification can help keep someone else out of your account even if they steal your username and password. But it's still important to use a strong and unique password for your account.
Generally, banks may be responsible for unauthorized and fraudulent transactions if someone breaks into your account. However, you also need to be mindful of scams. You might not be able to get a refund if someone tricks you into sending them money. And be aware that sometimes scammers spend weeks or months building a relationship with you before asking for money.
Experian Smart Money Benefits
The Experian Smart Money Digital Checking Account and Debit Card offers many benefits, including no minimum deposit requirements to open an account and more.
- Build credit with eligible bill payments. Your Experian Smart Money Digital Checking Account can easily link to Experian Boost, which will review the account's transactions for eligible bills, including utility, rent, insurance and phone payments. Once you've made at least three months' worth of payments with your Experian Smart Money Account, Experian Boost can add the on-time payments to your Experian credit report, which could increase your FICO® Score☉ .
- Get instant access to your virtual debit card. You will immediately get access to your virtual debit card after opening your Experian Smart Money Digital Checking Account. You can additionally request a physical card once your account has a balanceΔ.
- Receive direct deposits early. You can set up direct deposit to your account and could receive your paycheck up to two days early†. You may also be eligible to earn a one-time $50 bonus after setting up the direct deposit‡.
- Don't pay junk fees. The Experian Smart Money Digital Checking Account doesn't charge monthly maintenance fees¶, there's no minimum daily or monthly balance requirement, and no fees for using online bill pay or money transfers#. You can also withdraw cash without a fee at over 55,000 ATMs worldwide.**
You also still have access to all the features and benefits that come with a free Experian membership, such as free access to your Experian credit report, FICO® Score and ongoing credit monitoring.
How to Get Started With Experian Smart Money
It's easy to get started and open an account:
- Sign up for a free Experian membership. If you don't have a membership, you can register for free using your phone and the last four digits of your Social Security number (for identity verification). If you already have an account, including the paid identity theft protection programs, you can skip this step.
- Open your digital checking account. Once you log in, go to "digital checking" under the Money tab to get started. Experian can automatically fill in some of your information to make the process easier.
- Transfer and deposit money. Transfer money to your new Experian Smart Money Digital Checking Account and set up direct deposit.
- Use your new virtual debit card. You can start using your virtual debit card immediately. You can also set up bill pay for eligible utility, rent, phone and streaming service payments, which could help your FICO® Score if the payments get added to your credit report.
You can manage your Experian Smart Money Digital Checking Account online via a browser or the Experian app.
Simplify Your Finances
An Experian Smart Money Digital Checking Account and Debit Card can be a good option if you're looking for a safe, online checking account. The added features can help you manage your money, and the built-in linking with Experian Boost could improve your FICO® Score. With access to all this—plus additional money- and credit-related features—your free Experian account could help you simplify your finances.