Cambio
Effortlessly manage global transactions with real-time conversion and low fees.. [Contact for Pricing]
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What is Cambio?
Cambio is a mobile banking and financial recovery app designed to help consumers with poor credit scores, no credit history, or ChexSystems blacklists access banking services and rebuild their credit. The platform offers a subscription-based mobile bank account with a Visa debit card, enabling users to manage, track, and pay bills directly from the app without credit checks or minimum balance requirements.
Key features include AI-driven credit improvement tools that automate negotiations with collection agencies, an alternative credit score called
Cambio pricing
Pricing model: Freemium
Cambio operates on a subscription-based model at $9.99 per month. This flat monthly fee includes mobile banking access, ability to manage/track/pay bills directly from the app, direct deposit setup, cash deposit and withdrawal capabilities, access to 30,000+ fee-free ATMs, the Cambio Score alternative credit scoring system, credit rebuilding tools and AI negotiation with collectors, rewards program (Cambio Coins), budgeting and automated money management tools, Smart Pay automated bill payment feature, Visa debit card with Zero Liability protection, and account insurance up to $250,000. There are no hidden or surprise fees beyond the subscription. Additional fees include $5.00 for card replacement. No free tier is offered.
Cambio pros
- No credit checks required to open an account
- No ChexSystems check, perfect for blacklisted users
- No minimum or opening balance requirements
- AI-powered automated credit negotiation with collectors
- Alternative Cambio Score for simplified credit building
- Save average $1,000 per year versus check cashers
- $9.99 flat monthly subscription with no hidden fees
- Access to 30,000+ fee-free CO-OP ATMs nationwide
- Earn rewards (Cambio Coins) for positive financial behaviors
- 100 Coins converts to $1 automatically deposited to savings
- Direct deposit support from employer payroll systems
- Cash deposit available at 50,000 Visa ReadyLink locations
- Freeze debit card instantly through the app menu
- Visa Zero Liability fraud protection on transactions
- Accounts insured up to $250,000 through sponsor bank
- Credit rebuilding possible in as little as 6 months
- Access to network of responsible lenders at Score 100
- Budgeting tools and automated money management included
- Zelle and Venmo person-to-person transfer support
- Mobile check deposit available through the app
Cambio cons
- $9.99 monthly subscription fee required for all features
- $5.00 fee for replacement card if lost or stolen
- Daily ATM withdrawal limit of only $300 per day
- Account balance cap of $5,000 maximum
- Direct deposits over $5,000 require team member contact
- No check cashing feature yet (coming in future version)
- Personal debt guidance feature still coming soon
- Card is non-transferable, only usable by named cardholder
- No overdraft allowed, purchases limited to available balance
- Foreign ATM withdrawals subject to transaction fees
Frequently asked questions about Cambio
How long does it take to receive my Cambio card after joining?
You will receive your Cambio card in 7-10 days after joining Cambio. If you haven't received your card within 10 days, you should email [email protected] for assistance.
What is the daily ATM withdrawal limit?
Yes, there is a daily ATM or cash withdrawal limit of $300 per day. This limit applies to all ATM withdrawals and cash withdrawals made through the app.
Is there an account balance limit?
Yes, there is a balance limit of $5,000. All direct deposits that make your balance go over $5,000 will be processed and a Cambio team member will contact you on accessing the funds. All other deposits that would exceed this limit (including Visa ReadyLink and Venmo deposits) will be rejected.
How do I avoid ATM fees when withdrawing cash?
If you use one of CO-OP's nearly 30,000 ATMs located throughout the U.S., the surcharge fee is waived. You can visit COOP's Website to find surcharge-free ATMs in your area. Note that ATM cash withdrawals made outside the U.S. are subject to foreign transaction fees.
What do I do if I lose my Cambio card or suspect fraud?
First freeze your card on the menu page and call 1-833-729-2853 within two (2) business days. For fraud-related issues or to dispute a charge, call 1-833-729-2853. Your card is protected by Visa's Zero Liability coverage for signature-based transactions, meaning you are not liable for unauthorized use on your card.
How much does it cost to replace a lost or stolen card?
Yes, your card can be replaced and the outstanding balance transferred by calling 833-729-2853. A fee of $5.00 will be assessed for a replacement card. Please see the CUMONEY Everyday Spend Cardholder Agreement for any other applicable fees.
How do I set up direct deposit from my employer?
You can set up direct deposit by going into your HR system and providing your account information. Click on your user profile to get your account info including account number and routing number. If prompted to select a type of account, please select checking. Your account info is accessible through the user profile button on the upper right of your screen.
What is the Cambio Score and how does credit building work?
The Cambio Score is a proprietary alternative credit score designed to make building credit simple and stress-free. Members grow their score by participating in in-app activities aimed at improving financial skills, paying bills on time, spending smart, growing savings, and paying down debt. Each activity earns Cambio Coins as rewards. Once your score hits 100, you gain access to a network of quality responsible lenders, secured credit cards, loan refinancing, and affordable lending options. Credit rebuilding can take as little as 6 months.
How do I redeem my Cambio Coins rewards?
Click on the coins button in the app and if you are eligible to receive a reward, you can select your reward. For every 100 Coins you earn, $1 is automatically put into your savings account. You can earn rewards by checking in with your account daily, paying bills on time, spending less, meeting goals, and taking positive financial action to grow your savings.
Can I use Zelle or Venmo with my Cambio account?
Yes, you can use services like Zelle or Venmo for person-to-person money transfers. You can find your account number and routing number in your user profile to set up these transfers. The Cambio card works like a debit card wherever Visa debit cards are accepted.