How To Make Money On Step App

FAQs

Here are some answers to our most frequently asked questions.

Getting Started With Step

How old do I have to be to join Step?

Anyone can open an account! You'll just need a parent or guardian to sponsor your account.

How do I create my username?

Create a Step username so it's easy for your friends to send you money! Here's how:

Tap on the hamburger menu in the top-right corner ☰
Tap Account Information
Tap Username and enter the username you want!

Your username should be 15 characters max. You can use letter and numbers, but special characters, such as hyphen or underscores, aren't allowed.

How can I earn money with Step?

If you're under 19, you can earn money by referring friends to Step! Just send them an invite from your app, and you'll both get rewarded once they meet the eligibility requirements. Plus, once you're both on Step, you can instantly send and receive money with each other!

Why do I need a cell phone number to create my account?

We use your cell phone number to verify your account and make sure that only you can access your money. When you create an account, we'll send an SMS code as verification that your account is linked to the right mobile phone number.

For your security, we recommend that you verify your account through a mobile phone number issued by a US cellular phone carrier (Verizon, AT&T, T-Mobile). You may also use a VoIP or Internet phone number like Google Voice or TextNow.

Note: Accounts created with a VoIP or Internet numbers are not eligible to receive a referral credit.

Why do you need my Social Security Number (SSN)?

Your Step account is an FDIC insured and protected bank account. The government requires every bank to verify a customer's identity before opening an account. We don't perform a credit check, but like most banks, we use your SSN to verify your identity.

We take your security seriously. Step does not directly store your social security number. Your information is always encrypted as soon as you enter it in our app. It is used only once for the verification process that is required by law and after that it is not accessible or used for any other purposes.

Do you check my credit history?

We don't do a credit check. We'll just need to verify your identity to set up your secure account.

Can I use Step before my Step Card arrives?

Yes! Once you create a Step Account, you'll receive your Virtual Step Card instantly. Your Virtual Step Card is a digital-only card with its own unique card number and details. You can use it online or add it to your mobile wallet to use in-store.

To use your Virtual Step Card, you'll need to add money to your account by linking a debit card, bank account, or external app (like Venmo or CashApp). Or, you can ask someone to send you money via Step.

Once your funds arrive, you're ready to start using Step!

Can I create a Step Account if I'm not in the US?

Step is a US banking service currently available to US residents. You can use your Step Card internationally anywhere VISA is accepted (which is almost everywhere!)

What is Step?

What is Step and how does it work?

If you're under 18, Step is a bank just for you. In short, we want to be the first step in your financial journey. We start you off with your own bank account that you can manage easily with our Step app. You'll be able to spend your money using your Step Card and send and receive money from friends and family.

Plus, there are no fees and your money is secure.

Step is a banking app built especially for teens starting their financial journeys. We like to think of ourselves as a mobile banking experience made up of an app, a Step account, and a Visa Step Card.

We make it easy to do the things you need most like deposit money, keep track of spending, and send money to friends and family. Rest assured, we also provide bank-level security so you can be confident that your money and private info are safe and secure.

If you're curious about the details: We provide banking services through our partner, Evolve Bank & Trust, who has been an FDIC member since 1934.

No fees here! There are no monthly, overdraft, minimum, or service fees.

Is my money safe and secure?

Your Step account is insured up to $250,000 through our banking partner, Evolve Bank & Trust, Member FDIC.

Every purchase you make with your Step card is also protected by VISA's Zero Liability Policy, which means you'll never be responsible for charges you didn't authorize. We've also built in bank-level security and data encryption so that your personal info and account are always safe.

If Step is free, how do you make money?

Unlike traditional banks who make money by charging you fees, Step makes money from 'interchange' fees paid by the merchant bank.

When you use your Step Card, card networks collect a service fee (kind of like a tax for the merchant charging your card), and Step gets a percentage of that fee. That means we don't have to rely on traditional fees and we can pass the savings on to you.

Can I make suggestions for features or improvements?

Absolutely! We use all of your feedback — good or bad — to make our products better. Bring it on, we're ready to listen. Start a chat with our support team or send an email tohello@step.com.

Does my Step Card help me build credit?

Step helps you build a positive credit history just by using your Step Card. It is important to establish positive credit early in your financial journey.

Sponsorship

Did you know that legally, you have to be over 18 to open a US bank account or use apps like Paypal, Venmo, and CashApp?

But often times, you need banking services before then. That's why we created Step — a banking experience created specifically for teens who are ready to manage their money.

Anyone under 18 years old can create a Step account, you'll just need an adult over 18 to be your sponsor. Your sponsor will have their own Step account and have some visibility into your account until you turn 18. We recommend picking a parent or guardian, or someone who you trust to help manage your money.

How do I invite my sponsor to Step?

As you create your Step account, we'll ask you for the name of your sponsor and help you invite them via text or email. Once they create their own Step account and accept your invite, your account will be officially sponsored!

With a sponsored account you can order a Step Card, add money to your balance, instantly send money to friends and more!

Can I create an account without a sponsor?

You'll get the most out of Step with a sponsored account. While you can still create a Step account without a sponsor, you won't be able to move any money in or out. By inviting a sponsor you'll be able to:

Get your Step Card
Add money to your account, or transfer money out
Send and receive money with friends and family using Step
Refer friends and earn referral credits!

The main sponsor of a family can invite another adult to become a Co-sponsor!

Co-sponsors can:

Send & request money to family members
Set up allowances or recurring payments
View the activity of the sponsored teen accounts

To invite another adult to Co-sponsor, just tap "Add Family Member" on your home screen and enter their phone number. They'll get a text invite from us to create their account and accept your request.

Find out everything you need to know about So-sponsors here.

How do I invite my teen to Step?

Both you and your teen need to download the app and create your own accounts. You'll both need separate accounts on your own working mobile phones because we send SMS code as verification to sign in.

After both accounts are created you can scroll to the bottom of your home screen and tap Unlock a Step Card for a Teen! to send them an invite.

What controls do I have as a sponsor?

As a sponsor on a teen's account, you're able to view their balance and real-time activity, add money to the account, and manage or freeze your teen's card. You can find these settings by tapping into your Account in the top left corner of our app home screen.

How do I sponsor another teen?

You might want to sponsor more than one teen account. You can do this right from the app homescreen — just tap Unlock a Step Card for a Teen!

Adding Money

How do I add money to my Step Account?

You'll need some money in your Step account to start spending. Adding money is easy! Here are your options:

- Link a debit card from another bank account to your Step account and instantly add funds

- Set up direct deposit with your employer

- Link your Step account to a bank account or other financial institutions like Venmo, Cash App, Paypal to transfer funds (arrives in 1-3 business days)

Learn more

How do I send money to someone else on Step?

You can send money instantly to anyone else with a Step account.

Better yet, you can do it in under 30 seconds

Tap into your account
Tap Send Money
Enter the amount and anote
Enter the name or phone number of the friend you're sending money to
Double check the details, and hit send!

How do I add money to an account that I sponsor?

You can instantly add money to any account you sponsor right from your Step app. You can do this right from the app homescreen — just tap Add Money on the teen that you want to fund! Then:

Select the Funding Source (My Account, or any of your linked accounts)
Enter the amount and add anote
Tap Send!

You can view a history of all your transfers either in your own account, or the account you sponsor.

How do I link a new bank account?

You can link an external bank account so you can easily add money to your Step Account! Here's how:

Tap on the hamburger menu in the top-right corner ☰
Tap Linked Accounts
Tap Link a New Account
Select Link a Bank Account and follow the steps to log

You can also use linked bank accounts to transfer money out of your Step Account.

We take your security seriously! Step does not see or store your bank account credentials. This information is processed by Plaid (VISA).

Can I use a prepaid debit card to add money to my Step account?

Sometimes banks offer prepaid debit cards that can be linked to your Step account. Other prepaid cards work like gift cards and are usually purchased from drug stores — you won't be able to use these to add money into your Step account.

Can I set up direct deposit?

Got a job? That's awesome! Most employers give you the option to deposit your paycheck right into your bank account on each payday, rather than sending you a paper check. With Step, you can get paid up to 2 days early when you set up direct deposit with us.

To set up direct deposit to Step, your employer will ask for your account number and routing number or sometimes, a voided check. To help get that information to them, you can print or email a direct deposit form straight from your Step app.

You might see a notification right on your home screen to set up direct deposit. If not, you can easily start the process like this:

From your account, tapAdd Money (under your balance)
TapSet Up Direct Deposit
TapGet Direct Deposit Form
TapShare so you can text, email, or send the form through other apps on your phone

Important note: NEVER share this form or account information with anyone besides your employer. This can compromise the security of your account.

Can I set up recurring transfers to my teen?

Step makes it easy for sponsors to set up recurring payments for things like allowance, school lunch, chores, or just for fun! Here's how:

Select the teen account you'd like to set up a payment for
Tap recurring payment
Set afrequency, start date, and amount for the payments. You can even add a note!
Tap Save

To edit a recurring payment, follow the same steps and make changes to the amount, frequency, or note. You can also toggle the payment on/off from this screen.

Are there limits to how much I can withdraw, deposit and send?

As a teen banking platform, our account limits are designed for the average teen user. Here are some starting limits to keep in mind:

You can have up to $10,000 in your Step account
You can add up to $500 to your Step account using your debit card within 24 hours
We have no direct deposit amount limit
You can P2P (send and receive) up to $3,000 to other people on Step within a 30 day period
There's a $1,000 daily limit on purchases with your Step Card, and a $500 daily limit for Google Pay & Apple Pay transactions.
You can withdraw up to $250 from Step to your linked bank account within 24 hours
You can withdraw up to $250 from an ATM within 24 hours, and up to $1,000 within 30 days
You can make up to 10 ATM withdrawals in a 30 day period
You can only spend up to the amount in your Step account

Your Step Card

When will I get my Step Card?

We'll ship your Step Card as soon as you create your account and order your card. It ships via USPS and should arrive within 14-21 business days (or sooner!).

In the meantime, you can link your card to Apple Pay and Google pay to start spending right away!

Is my Step Card a credit card?

Your Step Card is a new kind of secured spending card. You can safely spend the money that you deposit to your Step account but with added protection.

There is no way to overspend. No overdraft fees. You don't pay interest. All while getting the fraud protection and credit building benefits of a credit card!

Where can I use my Step Card?

Anywhere Visa is accepted (which is pretty much everywhere!). You can swipe, insert the chip, or tap the card when you pay.

You can also add your Step Card to Apple Pay or Google Pay and start spending before it even comes in the mail!

Will I be able to use an ATM?

You can use your Step Card almost anywhere, and that means ATMs too!

ATMs are for withdrawals only. You can't add money to your account through an ATM at this time.

Your Step Card is actually a credit card, so you won't need to enter a PIN when you pay.

Looking for your ATM PIN? You'll need to create a PIN for use at ATMs only. To set up or change your ATM PIN:

Tap Manage Cards
Select your card
Tap ATM Info

How do I replace my Step Card?

To replace your physical card:

Tap into your account
Tap Manage Card (right under your balance)
Tap Physical Card
Tap Replace My Card
Choose the best reason for why you are replacing your card
Confirm your shipping info and submit!

Your old card will be automatically cancelled and you won't be able to use it even if you find it again. Your new card will arrive within 10-12 business days.

To replace your virtual card:

Tap into your account
Tap Manage Card (right under your balance)
Tap Virtual Card
Tap Replace Virtual Card

You'll receive a new virtual card number instantly! Your old card number won't work anymore, so be sure to update the new card info anywhere you've saved it.

Will I have to make a monthly payment like a regular credit card?

Unlike a traditional credit card, you can only spend the money that's secured in your Step account. By using Step Smart Pay you don't have to worry about paying off your balance at the end of the month!

You can never overspend, and never have to worry about overdraft fees.

What should I do if I see a charge I don't recognize?

Don't recognize a charge? Don't worry — we'll help you sort it out. You can report the charge right from the app. Here's how:

Open your account
Select the transaction that you don't recognize
Tap Report an Issue

For your security, you should also freeze your card while we investigate! Here's how:

Tap into your account
Tap Manage Card
Toggle the Status to freeze

I'm expecting a refund for something I bought. Why don't I see it in my account?

Refunds can take up to 5-7 business days to process and be returned to your account, depending on the merchant or store that's sending you the refund.

Why did the gas station hold more money than I spent?

When you pay for gas with a credit or debit card, the gas station will pre-authorize a larger amount to make sure you can pay to fill your tank. Usually, the hold will be released as soon as you're charged for the amount of gas you actually bought, but sometimes it can take a full day or longer.

Next time, you can tell the gas station attendant the amount of money you want to spend on gas, or enter that amount at the gas pump.

Account Maintenance

How do I update my email address?

Make sure we always have your current email so we can keep you updated about your account and new product launches! Here's how to change it:

Tap on the hamburger menu in the top-right corner ☰
Tap Account Information
Tap Email
Type in your new email
Tap Done

I got a new phone number. How do I update my account?

To update your phone while you're logged into your app: - Tap on the hamburger menu in the top-right corner ☰ - Tap on Account Information - Select your phone number and follow the prompts to update it

Not logged in?

No problem! Just tap "Changed Phone Number?" and you'll be able to log in with the email you used to sign up for your account. Once logged in, you'll be able to change and verify your new phone number.

My account is suspended. How can I get back in?

We take your security seriously, so sometimes we'll suspend your account if we notice some unusual activity. When this happens, someone from our team will reach out right away via email to help you get back into your account.

How do I cancel my account?

Thinking about leaving us? Let's talk about it! Start a chat with our team by tapping the chat icon on any screen on your Step app.

One of our team members will be able to answer all of your questions and instantly close your account for you.