Step review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Step suits teens and students in the US who want a free everyday account and easy access savings, with an overall score of 6.3. Costs sit at $0 a month and savings run at 3% variable, but that rate waits on a status earned by card spending or qualifying direct deposits.
Key facts
- Best for
- A free teen account in the US with savings that pays 3% variable.
- Monthly fee
- $0↗
- Deposit protection
- FDIC up to USD 250,000↗
- Local account details
- Us-ACH↗
- Transfer fee
- Small fee for Instant Transfer to a linked debit card↗
- Legal entity
- Step Financial LLC↗
- Headquarters
- United States↗
- Founded
- 2020↗
- Support channels
- Chat, Email, Phone, Help-centre↗
- Audience
- Teens
- Pricing model
- No monthly fee
- Features
- Free ATM withdrawals
- Official website
- step.com
Savings
- Headline rate
- 3%↗
- Rate type
- Variable↗
- Minimum deposit
- $0↗
- Access terms
- No savings minimums; 3.00% on savings requires Step Black status, earned by spending $500 with the Step Card or $300 in qualifying direct deposits each calendar month↗
- Account kind
- Easy access↗
Facts checked September 26, 2026, 6 sources
Apps and profiles
- Get the app
- App StoreGoogle Play
- Elsewhere
- LinkedInXinstagram.com
Pros and cons
Pros
- Monthly fee of $0 on a no monthly fee account
- Savings rate of 3% variable with a minimum deposit of $0
- free atm means no ATM charge when you need cash
- Support runs through chat, email and phone
Cons
- The full savings rate is tied to a status earned by card spending or qualifying direct deposits, so an inactive month earns less
- Small fee for Instant Transfer to a linked debit card for an Instant Transfer to a linked debit card
Who it suits
- Teens in the US building their first account
- Students who keep a direct deposit in place to keep the better savings rate
Who should look elsewhere
- bunq and bunq Spain Bank Account, where a euro account serves a euro market rather than a US teen account
- Pixpay FR, which charges a monthly fee of €3.99
Safety of your money
Banking services run through Evolve Bank & Trust, Member FDIC, and deposits are covered FDIC up to USD 250,000. Step is a easy access account rather than a fixed term product, so money moves in and out without a notice period. The protection scheme is stated in US dollars, which suits a US teen or student keeping spending money rather than large savings.
Who runs it
Step is run by Step Financial LLC, based in the United States and founded in 2020. Local transfers run over us ach, so a US account fits direct deposit and standard US payment rails. Support is available through chat, email and phone, which covers phone and chat as well as email and a help centre.
How Step compares
8.8 vs 8.7
8.8 vs 8.6
8.8 vs 8.0
8.8 vs 8.9
8.8 vs 9.1
8.8 vs 9.2
8.8 vs 8.7Its monthly fee of €0 matches Step's $0, though it targets the Spanish market rather than US account holders.
8.8 vs 8.7
8.8 vs 8.7A monthly fee of €3.99 sits above Step's $0, and Pixpay FR is aimed at a French market.
8.8 vs 9.0
8.8 vs 8.7
8.8 vs 9.5
8.8 vs 9.4
8.8 vs 9.3
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.1
8.8 vs 9.0
8.8 vs 9.0
8.8 vs 8.9
8.8 vs 8.9- 8.8 vs 8.9
8.8 vs 8.7
8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.4
8.8 vs 8.3
8.8 vs 8.2
8.8 vs 8.1- 8.8 vs 8.1
8.8 vs 8.0
8.8 vs 8.0
8.8 vs 8.0
8.8 vs 9.1
Where Step is available
- Available
- United States
- Licence in United States
- FDIC (banking services provided by Evolve Bank & Trust, Member FDIC), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much does a Step account cost each month?+
The monthly fee is $0 and the account follows a no monthly fee model, so there is nothing to pay simply for holding it. Cash handling is covered by free atm, so withdrawing at an ATM costs nothing either. The one charge to watch is Small fee for Instant Transfer to a linked debit card to a linked debit card.
What interest do I get on savings?+
The headline savings rate is 3% and it is variable, so it can move rather than being locked. The minimum deposit is $0, which means you can start small. Savings are easy access, so you can take money out without giving up a fixed term.
What has to be true for the full savings rate?+
The 3% rate depends on holding a status level, which is earned by spending with the Step Card or by qualifying direct deposits each calendar month. Keep that activity up and the account pays the headline 3%. Let the activity lapse and the return on your savings drops.
Is my money protected?+
Banking services are provided by Evolve Bank & Trust, Member FDIC, and deposits are covered FDIC up to USD 250,000. The cover is stated in US dollars, which matches how a US teen account is funded. The account itself is easy access, so withdrawals are not held for a notice period.
What support can I reach if something goes wrong?+
Support runs through chat, email and phone, so you can pick chat, email or phone rather than filling in a form alone. A help centre is also listed for self service questions. The company behind the account is Step Financial LLC, based in the United States.
Who is this account built for?+
Step is listed for a teen audience, and it works well for a first account or for a student who keeps a recurring payment coming in. Transfers run over us ach, which suits US account holders. A student with a part time income can use the card to hold the status that supports the savings rate.
Can I open it without a monthly budget for fees?+
Yes on the cost side, since the monthly fee is $0 and the model is no monthly fee. The account adds free ATM access through free atm. Budget instead for Small fee for Instant Transfer to a linked debit card if you want instant transfers to a linked debit card.
Sources
- help.step.com/en/articles/4357542-are-there-any-fees-asso... checked September 26, 2026
Backs: Pricing model, Monthly fee, Transfer fee
“no monthly fees, no overdraft fees, no account minimums, and no fees to get started and have a Step Account”
- help.step.com/en/articles/6001396-will-i-get-charged-at-a... checked September 26, 2026
Backs: Features
“You can withdraw cash fee-free at one of our 30,000+ in-network ATMs!”
- step.com checked September 26, 2026
Backs: Audience, Legal entity, Local account details
“Step users can build credit history for up to two years before turning 18”
- step.com/about checked September 26, 2026
Backs: Founded, Headquarters
“Founded in 2020”
- step.com/faq checked September 26, 2026
Backs: Support channels
“Start a chat with our support team or send an email to hello@step.com”
- step.com/policies/accountagreement checked September 26, 2026
Backs: Deposit protection, Licences
- step.com/save checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type
“To start earning 3.00% on your savings, you need to earn Step Black! Spend $500 with your Step Card or receive $300 in qualifying direct deposits each calendar month”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Currency conversion fee, Currencies.