FAQ

Frequently asked questions

Can I cancel an envelope?

Yes, you can cancel an envelope at any time. You can cancel the entire envelope or you can cancel it for just one month.

Will money be taken out of my bank account?

Yes, money will be moved from your bank account based on your paycheck schedule. The money will be returned ahead of your envelope's due date, plus a bonus.

What is KYC?

KYC stands for "Know Your Customer." In order to create a Mooch account, we need to verify that you are a real person. We use our onboarding questions to do this through Sila, our back-end banking provider. If you fail KYC for whatever reason, please contact us so we can try to verify your identity another way.

What's the most money I can create an envelope for?

The maximum envelope limit is $100,000.

Where can I find details about an envelope's history?

If you click on an envelope, you can see its whole history, plus a future timeline for deposits, withdrawals and earned bonuses.

Can I change or remove my bank account after I've created my profile?

You can change your bank account at any time in your settings, but you cannot remove your bank account. To delete your account all you have to do is delete your envelopes and then the app.

Can I link multiple bank accounts to my profile?

Yes, but only one can be a primary account. The secondary bank account will not be transacted with.

How does Mooch budget for me?

Mooch automatically saves money from each paycheck for you. The money is transferred back to your bank ahead of your envelope's due date, with an added bonus.

Can you edit an envelope after it has been created?

You can cancel an envelope for the month if you need to, but in order to change the actual amount budgeted for you'll have to delete the envelope and make a new one.

How do I delete my Mooch account?

You can delete all your envelopes in order to delete your Mooch account. Any partially completed envelopes that are deleted will automatically return the money back to your bank account.

What personal information does Mooch store?

Mooch only stores your name, email, and phone number. We do not store any other personal information like bank account numbers or social security numbers. This information will only be requested once in order to create a profile. This data is confirmed by Sila, our back-end banking provider.

How is Mooch protecting against fraud?

Mooch never stores sensitive banking information or any personal information other your name, email, and phone number. We will never ask you for personal information past onboarding.

Can I change my phone number after I've created my profile?

Not at this time, but we're working hard to allow for more flexibility with changes like this in future updates.

Who has access to information about envelopes I make on Mooch?

Only Mooch support will have access to this to help resolve any issues you might have in the app.

Can I change my email address after I've created my profile?

Not at this time, but we're working on allow changes like this in future versions of the app!

How do bonuses work?

Mooch pays you a bonus reward/cash back for each envelope you complete (a completed envelope means that you don’t withdraw early until the goal amount is reached). All your earned bonuses will add up and live in your very own bonus balance card, where you can withdraw at any time. The best part is that you’ll also be able to make additional bonus money from your bonus balance if you keep it there!

What's the difference between an expense envelope and a savings envelope?

An expense envelope is designed to help you budget for recurring expenses like rent, a car payment, or a phone bill. A savings envelope is designed to help you save for a goal, like a vacation or a new surfboard. Both envelopes function by taking a specific amount of money out of each paycheck. This money is always returned to you ahead of your envelope end date, plus bonuses.

I don't see my question answered here, how do I contact support?

Use the contact form (top of the page) or email hello@amoochlife.com for any other questions!

Will I get my money back after I cancel an envelope?

Yes, Mooch automatically returns your money after an envelope has been cancelled. This may take 1-2 business days to be reflected in your bank account.