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Written by Lorraine Roberte
Edited by Jon Bortin

About MoCaFi

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

MoCaFi is a fintech company that aims to provide mobile banking, credit building and financial empowerment to its customers. The company offers a bank account with a Mastercard debit card, with no credit check or banking history required. Other features include rental payment reporting to credit bureaus, wealth planning and cash back for supporting local Black and Latino small businesses. MoCaFi partners with Sunrise Banks, which issues the MoCaFi bank accounts and debit cards.


  • Rent reporting for credit building
  • Mobility Score for wealth planning
  • 3% cash back for some spending
  • FDIC-insured


  • No in-person services
  • No savings account

Bottom Line

MoCaFi is a mobile banking company partnered with Sunrise Banks to offer bank accounts and a Mastercard debit card. It also provides wealth planning resources and helps build credit by reporting rental payments.

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What is MoCaFi?

MoCaFi is a fintech company with a diverse leadership team whose goal is to create wealth building opportunities for all people regardless of race and financial status. Using the MoCaFi app, you can set up an online bank account in just minutes without a check of your credit or banking history.

MoCaFi banking is done completely online. There are few fees. Renters can benefit by having MoCaFi report their rental payments to two credit bureaus. When you bank with MoCaFi, you also have access to custom wealth planning technology, and you get cash back when you use your debit card to shop at Black- and Latino-owned small businesses.

How does MoCaFi work?

Opening a MoCaFi bank account is simple. Download the MoCaFi app and follow the prompts to open an account. The company doesn’t check your credit or require a banking history. Approval is simply based on verifying your personal identity.

With a MoCaFi bank account, you get features such as:

  • A Mastercard debit card and contactless payment
  • Early direct deposit, with funds available up to two days before your scheduled payday
  • No-fee cash withdrawals at any Allpoint ATM in the U.S.
  • No-fee cash deposits at VanillaDirect retailers
  • Check depositing through the app
  • No-fee transfers to MoCaFi account owners

You can qualify for up to 3% cash back by spending at any MoCaFi Represent Brand. MoCaFi also gives you tools to build your own wealth, including the Mobility Score. Mobility Score uses your spending, savings, credit score and personal development activity to determine what it will take to reach your wealth goals.

Another important feature from MoCaFi is the Rental Payment Recording. MoCaFi lets you set up automatic rental payments and then reports them to Equifax and TransUnion if you opt in.

MoCaFi fees

One of the benefits of MoCaFi is that it doesn't charge many fees. Here are a few to be aware of, though:

Fee typeFee amount
Cash withdrawal from an ATM not in the Allpoint network$1.98 (plus any fee from ATM operator)
Cash withdrawal from international ATM not in Allpoint network$1.98 plus 3% (plus any fee from ATM operator)
Inactivity fee assessed each month after no account activity for 12 straight months$5.95 (refunded with written request)

*Fees accurate as of publishing date

MoCaFi charges no fees for cash deposits at VanillaDirect retailers, mobile check deposits using the app, cash withdrawals at Allpoint ATMs or over-the-counter withdrawals.


Is MoCaFi FDIC-insured?
Yes, MoCaFi bank accounts and debit cards are issued by Sunrise Banks, which is FDIC-insured.
Is MoCaFi a prepaid card?
No, the MoCaFi Mastercard debit card is not a prepaid card.
Is MoCaFi a real bank?
MoCaFi is a fintech company that partners with Sunrise Banks. The MoCaFi bank account and Mastercard debit card are issued by Sunrise Banks.
How can I get approved for MoCaFi?
Approval for a MoCaFi bank account is based on verification of your personal identity. It doesn’t require a credit check or a banking history.

Is MoCaFi legit?

MoCaFi is a legitimate company for online banking. It’s easy to sign up and start using the Mastercard debit card, and you get cash back for supporting Black- and Latino-owned small businesses. It’s an especially good choice if you make monthly rent payments and want to build your credit. We also like that MoCaFi has few fees. One downside is that you can’t open a savings account. If that’s not a problem and you’re searching for your next online bank, consider MoCaFi as an option.

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