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Figure Pay Review

Reviews 2,484
Reviews 2,484
Visit Site
Michael Graw
Nov. 28, 2021
3 min read
Michael Graw
Figure Summary
Figure Pay is an all-in-one banking app that offers deposits and transfers, rewards for spending, and access to buy now, pay later loans up to $2,500**. You also get access to 55,000 fee-free ATMs across the US. There are no account fees¹ for Figure Pay and no minimum balance required. Plus, you’ll receive a $100 bonus³ when you direct deposit at least $1,200 per month for 2 consecutive months.


  • Access buy now, pay later loans up to $2,500**
  • Offers rewards for spending
  • No account fees or minimums¹


  • Only available in 18 states*
  • Spending rewards vary by retailer

Figure at a glance

Editorial score


No fees at all


FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication

Customer service

Early morning, evening and weekend service with multiple communication options and a dedicated fraud team

Online experience

No online banking

Mobile experience

Excellent mobile app with all mobile banking features enabled, including digital check deposits

Figure Figure Visit Figure

Advantages Over Traditional Banks

Figure Pay offers many of the leading features of checking accounts with its fee-free deposit account. This account is connected to a Visa spend card that you can use to make purchases anywhere Visa is accepted. You can also make transfers from your deposit account and monitor your balance using the Figure Pay mobile app.

In addition, Figure Pay enables you to earn rewards when you spend at local retailers. You can find retailers with rewards near you using the Figure Pay app.

Cutting-Edge Banking Services

One of the most unique things about Figure Pay is that you can quickly qualify for Buy Now, Pay Later loans** with Figure Pay Credit anytime you make a purchase. These loans let you pay for goods and services in monthly installments, and they don’t have any interest. The amount of credit you can be approved for depends on your credit score, but Figure Pay offers revolving loans up to $2,500.

 Importantly, Figure Pay is available even to those with poor credit or little credit history. There’s no credit check required to open an account, although there is a credit check to qualify for buy now, pay later loans. If you don’t qualify for the maximum $2,500 credit limit right away, you can build credit over time by making monthly direct deposits into your account.


Traditional Banking Services

Figure Pay includes free access to more than 55,000 in-network ATMs. You can locate ATMs near you using the mobile app. In addition, the Figure Pay deposit account supports direct deposits. You can get paid up to 2 days early with Figure Pay² . If you direct deposit at least $1,200 per month for 2 consecutive months, you’ll receive a $100 credit in your account³.


Interest Rates and Fees

Figure Pay is completely free to use¹. There’s no monthly account fee, no minimum deposit required to open an account, and no minimum account balance. Using a Figure Pay Credit buy now, pay later loan** is also free and these loans don’t have interest.

Account FeeMinimum BalanceInterest RateATM Fees

Customer Service and Online Experience

Your Figure Pay account is controlled entirely through the free mobile app for iOS and Android. You cannot sign up for Figure Pay on a desktop computer, nor can you access your account details via a browser.

 However, you can connect with Figure’s customer service team by live chat either through the app or online. Customer support is available 6AM-6PM (PT), 7 days a week. You can also contact Figure’s customer service team by email.

 One thing to note is that Figure Pay is currently only available in 18 states: Alaska, Arizona, Colorado, Connecticut, Delaware, Illinois, Iowa, Kansas, Kentucky, Maine, Maryland, Missouri, Montana, New Hampshire, New Mexico, Oregon, South Dakota, and Utah. You can sign up to receive an email alert when Figure Pay becomes available in your state*.


Mobile App  


The Figure Pay app is available for free for iOS and Android. It enables you to monitor your account balance, find in-network ATMs, and see which nearby retailers have rewards for spending. You can also use the Figure Pay app to activate a buy now, pay later loan when paying for purchases. The Figure Pay app does not offer mobile check deposits, but you can set up direct deposits and initiate transfers in the app.



Figure uses encryption and biometric authentication to protect your Figure Pay account. The deposit account is provided by UMB Bank, n.a., and is FDIC-insured. There is no dedicated fraud team, but your spending card comes with Visa’s zero liability policy, which protects you against unauthorized purchases.



Figure Pay is a unique banking app that combines a deposit account, a rewards debit card, and access to buy now, pay later loans. The service is completely free to use with no monthly account fees, no ATM fees, and no minimum balance requirements. Buy now, pay later loans do not carry interest and you can qualify to borrow up to $2,500. Plus, spending at local retailers can earn you rewards.

Figure Pay is only available through a mobile app for iOS and Android, and your account cannot be accessed online. While the service is currently only available in 18 states, you can sign up to be notified when Figure Pay becomes available in your state*. New users who direct deposit at least $1,200 per month for 2 consecutive months can earn a $100 account credit³.


This review was based on information on the Figure website and the product description provided by Figure.

Figure Figure Visit Figure

Figure Pay Disclosure

¹ Figure Pay-branded demand deposit account is held at UMB Bank, n.a., member FDIC

² Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Figure Pay generally makes these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

³ Limit one $100 bonus per customer. Bonus will be deposited in the Figure Pay account within 30 days of the second consecutive deposit satisfying requirements for bonus.

* Figure Pay is available in Alaska, Arizona, Colorado, Connecticut, Delaware, Illinois, Iowa, Kansas, Kentucky, Maine, Maryland, Missouri, Montana, New Hampshire, Nevada, New Jersey, New Mexico, Oregon, South Dakota, and Utah with more states to come.

** This offer is not affiliated with MetaBank, N.A., or Visa.


Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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