mph.bank Money Market Deposit Review: $1200 Bonus + 3.76% APY (Nationwide)

mph.bank is offering residents nationwide a 3.76% APY + up to $1200 bonus when you open a High-yield money market deposit account (MMDA).

Update 6/2/26: You can currently earn up to $1200 bonus through 6/30/26!

• Earn up to $1,200 when you sign up and fund your account using code SUMMER26. Earn even more with an extra cash boost when you set your savings on autopilot.
• Claim your welcome bonus. Enter promo code SUMMER26 at sign-up and deposit a total of $10,000 or more within 14 days to secure your base cash bonus and unlock the optional recurring deposit reward.
• Add an extra boost (optional). To earn an additional reward, schedule two or more recurring deposits within your first 90 days. You are eligible for a maximum additional bonus based on your deposit tier, allowing you to choose your matching recurring bonus tier or any tier below it.
  • Deposit $10,000 – $24,999, earns a $50 cash bonus (+$10 bonus boost) = $60 total bonus
  • Deposit $25,000 – $49,999 earns a $125 cash bonus (+$25 bonus boost) = $150 total bonus
  • Deposit $50,000 – $99,999 earns a $250 cash bonus (+$50 bonus boost) = $300 total bonus
  • Deposit $100,000 – $199,999 earns a $500 cash bonus (+$100 bonus boost) = $600 total bonus
  • Deposit $200,000 or more earns a $1,000 cash bonus (+$200 bonus boost) = $1,200 total bonus
• Get rewarded. Maintain your balance for 90 days. Once all promotional requirements are met, your total combined cash bonus will be credited to your account within 30 days.

Terms:

• New customers only. Earn a cash bonus (the “Base Bonus”) when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive a Base Bonus of $50 for depositing between $10,000 and $24,999; $125 for depositing between $25,000 and $49,999; $250 for depositing between $50,000 and $99,999; $500 for depositing between $100,000 and $199,999; and $1,000 for depositing $200,000 or more.
• Customers may earn an additional bonus by setting up a recurring deposit within 14 days of their initial deposit (the “Recurring Deposit Bonus”). To qualify, the recurring deposit must be established within 14 days of the initial deposit date and it must execute at least two (2) times within 90-days of the initial deposit. Recurring Deposit Bonus eligibility is determined by your Base Bonus tier:
  • Customers depositing between $10,000–$24,999 with aggregate recurring deposits of $100 or greater receive a $10 bonus
  • Customers depositing between $25,000–$49,999 with aggregate recurring deposits of $250 or greater receive a $25 bonus
  • Customers depositing between $50,000–$99,999 with aggregate recurring deposits of $500 or greater receive a $50 bonus
  • Customers depositing between $100,000–$199,999 with aggregate recurring deposits of $1,000 or greater receive a $100 bonus
  • Customers depositing between $200,000+ with aggregate recurring deposits of $2,000 or greater receive a $200 bonus
• Customers are eligible to earn the Recurring Deposit Bonus associated with their Base Bonus tier or any lower Recurring Deposit Bonus tier. For example, a customer with an initial deposit of $200,000 (qualifying for the highest Base Bonus tier) whose aggregate recurring deposits total $500, is eligible for the lower tier and will receive the $50 Recurring Deposit Bonus. However, setting up a recurring deposit greater than your Base Bonus tier’s required threshold will not qualify you for a higher Recurring Deposit Bonus.
• The Recurring Deposit Bonus is paid in addition to the Base Bonus. To qualify for the Base Bonus and Recurring Deposit Bonus, your first deposit must be initiated between June 1, 2026, and June 30, 2026, by 11:59 PM ET, and the promo code SUMMER26 must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for the Base Bonus. Bonus cash will be credited directly to your Cash Account within 30 days of meeting all qualifying terms. This offer is available to new customers only and may not be combined with any other bonus offers. Raisin may modify or end this offer at any time and may withhold or revoke bonuses in cases of fraud, abuse, or violation of these terms or Raisin’s Terms of Service.

mph.bank Money Market Deposit Account Review

mph.bank is a digital bank that focuses on delivering value directly to its customers.

A savings product from mph.bank can offer highly competitive interest rates in part because there’s no spending going toward splashy marketing or expensive naming rights for professional sports stadiums.

mph.bank was created by Liberty Savings Bank, which has a history of offering products and services that deliver value for people. For mph.bank, the priority is empowering customers’ financial success. Making People Happy. It’s that simple.

mph.bank deposit products are provided by, and mph.bank is a brand of, Liberty Savings Bank, F.S.B., Member FDIC.

I’ll review the mph.bank Money Market Deposit Account below.

mph.bank Money Market Rate

To easily earn mph.bank’s competitive rate, start by opening a High-yield Money Market Deposit Account (MMDA).

• Eligible account: High-yield Money Market Deposit Account (MMDA)
• Credit inquiry: Soft Pull
• Where it’s available: Nationwide
• Opening Deposit: $1
• Monthly fee: None
• Early Termination Fee: Not listed

(FDIC Insured)

How to Earn Rate

1. Open a new account with a minimum opening deposit of $1.
2. Fill out your personal information – Provide your name, address, phone, email and social security number or Tax ID.
3. Fund the account/transfer funds – Transfer funds electronically from an internal account here or an external account at another bank.
4. Start earning interest from Day 1 of your first deposit with no limit on how much you can earn.

Editor’s Notes:

• According to the CSR, there is no dollar limit on the transfers. Many new online banks have small limits like $5k. Only one link can be established. They don’t allow multiple links to multiple banks.
• Interest Calculation: Interest will be compounded daily and credited on the last calendar day of each month.

mph.bank Money Market Features

• Deposits are FDIC insured through Liberty Savings Bank.
• No fees. $1 minimum deposit.
• 24/7 online access to funds.

Eligibility

To open an account, you must meet the following to be eligible:

• Mus be a U.S. citizen or U.S. resident alien with a U.S. social security number (SSN),
• Resides in the U.S.
• Have an existing deposit account that you maintain at a bank or credit union in the U.S. (to fund your mph.bank money market account)
• External bank account routing number & account number (to fund account)

Are My Deposits Safe?

mph.bank is powered by Liberty Savings Bank, FSB, member FDIC. Deposits in mph.bank are insured by the FDIC up to the limits of federal law.

The standard insurance amount is $250,000 per depositor, per insured bank, for each deposit account ownership category.

Conclusion

If you’re looking to open an interest bearing account, mph.bank offers a competitive rate. mph.bank is part of and backed by a century-old, FDIC-insured financial institution, Liberty Savings Bank.

Let us know about your experience with this bank and comment below.

In addition to the rate, check out our list of best rates Savings, Money Market, and CD accounts.

• Best Savings/Money Market rates
• Best CD Account rates

If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers.

Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.

You can download the mph.bank app on the Apple App Store here and Google Play here.