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Review Summary: Qube Money is a new finance app that takes the power of cash envelopes, and combines it into an easy-to-use budgeting and banking app! It is the only REAL way to use digital cash envelopes, and they are continuing to add features. It is currently in BETA, and offering extremely discounted lifetime memberships for early adopters.
This post is sponsored by Qube Money. All reviews and opinions expressed in this post are 100% our own.
Qube Money Review Summary
- Qube is a budgeting and banking app that give you true digital cash envelopes
- Qube is backed by Choice Financial, is FDIC insured, and has a "default zero" balance to prevent theft
- Your budget categories are called "Spending Qubes" and require that you have the money in your bank to actually spend your money
- Qube is currently in BETA, and offer discounted Lifetime Memberships until the product is launched
- P.S. Use code IHEARTBUDGETS25 to get a 25% additional discount on the Lifetime Membership!
Qube Money Review
I am a firm believer in the cash envelope system. It's honestly the BEST way to stop your bad spending habits immediately, and force yourself to ONLY spend money on what you budgeted for.
The only bummer is that cash envelopes are kind of a hassle. And they don't really fit in your wallet. And honestly, a lot of people just don't carry much cash anymore (myself included).
That's why excited that someone has finally created digital cash envelopes that function 100% the same as using real cash.
What Is Qube Money?
Qube Money is a new finance app that takes the power of cash envelopes, and combines it into an easy-to-use budgeting and banking app!
Qube Money has partnered with Choice Financial to create a true digital cash envelope bank account that allows you to connect your budget and your bank to make sure your money ONLY goes where you tell it to go.
It is also expanding its capabilities to allow peer-to-peer money transfers, budget automation, and bill pay (coming soon).
Qube Money uses a Visa debit card attached to a Qube Bank Account to give you complete, secure control of your money.
How Does Qube Money App Work?
When you sign up for Qube and download the app, you start by funding your Qube Money Account (or linking an external bank account). This would act as your checking account.
Then you split up the funds in your account into "Qubes", which are your spending categories for the month. This includes, groceries, shopping, entertainment, gas, bills, etc.
Once your Qubes are funded, use the following 4-step process for purchases:
- Open the Qube Money app and select the Qube you need to use (say, groceries)
- All the money from the Qube is instantly transferred to the Qube Visa debit card
- Use the Qube Debit Card for your purchase (just like any regular debit card)
- The money is spent from your debit card, and the remaining balance is instantly transferred back to your Qube in the app
When I first heard about this, I thought "that's amazing!" Immediately followed by "wait a minute…"
I was skeptical of the app’s ability to give me the money I wanted while I was waiting in line at the grocery store (or at a coffee drive through).
But even in the BETA version, the Qube is funded in just seconds. Check out the video below for real-time testing.
Qube Money Benefits
Qube money is an app that can truly revolutionize how people manage their money day-to-day, and can stop overspending in its tracks!
Here are a few of my favorite benefits of using Qube Money:
Active Budgeting. Qube Money's most unique feature is that it makes you budget in real-time. This active budgeting requires that you make an informed spending decision for every purchase. You need to open the app, fund the purchase from one of your "Qubes", and then only spend the funds you have available.
Real-Time Money Tracking. In addition to requiring that you intentionally spend your money, it will also auto-update your "Qube balance" and total account balance in real time. It's the same as seeing cash leave your wallet, and knowing what you have left.
Customize Your Money. Qubes aren't just for spending. You can create Qubes for savings goals, Qubes for debt payoff or anything else you want to fund. I also love the idea of using Qubes as Savings Buckets for infrequent expenses.
Extra Money Protection. The Qube Debit Card has a default balance of $0, because the money isn't there until you select the Qube you are spending from the app. This give you an extra layer of protection vs. a tradition checking account debit card.
Qube Money is truly the only REAL digital cash envelope app that works the way real cash does.
How To Budget With Qube Money
Qube Money takes everything we love about the cash envelope system and brings it into the digital age. The best part about budgeting with Qube Money is that you can build an individual budget or you can create a budget that fits any family size!
Like using cash envelopes, you start your budget by identifying the categories you want and need. Then, you determine how much money you will allocate toward each category. These categories become your money qubes.
Once you have your qubes set up, you spend money like always. Except instead of paying with cash from different envelopes, you use a debit card that is synced to your qubes. The second you swipe your debit card, the money is deducted from your qube.
If you’re wondering where the money comes from, you can use either an internal account or you can link Qube Money to an existing external account.
As the month progresses, you can check in with your qubes to see if your spending is on track or not. Instead of sorting through different envelopes and remembering to take them with you, Qube Money streamlines the process. It makes budgeting simpler and streamlined, even if you set up your account with a partner or a whole family!
Qube Money Plans And Pricing
No two people or families have the same financial situation. That’s why Qube Money offers a variety of options to meet your needs. Qube Money has three tiers of plans available now, with a fourth plan option coming soon.
The plans include:
- Basic for $0
- Premium for $8/month
- Family for $15/month
- Platinum for $25/month - Coming soon!
Qube Basic Plan
The basic plan is perfect for an individual account. It includes 10 qubes, a mobile wallet, and peer-to-peer transfers. Additional features like bill pay and payday 2 days early are coming soon.
- Individual account
- 10 qubes
- Mobile Wallet
- Peer-to-peer transfers
- Bill pay (Coming Soon!)
- Payday 2 days early (Coming Soon!)
Qube Premium Plan
The premium plan builds on the basic plan by adding unlimited qubes and budget automation. It also has features for couples, including companion cards, partner permissions, and partner notifications.
Everything from Basic account +
- Unlimited qubes
- Qube groups
- Budget automation
- QubeShare (Coming Soon!)
- In-qube notes (Coming Soon!)
- Subscription controls
- Roundup technology (Coming Soon!)
- Companion cards
- Partner Permissions
- Partner Notifications
Qube Family Plan
The family plan is an expanded version of the premium plan. It includes accounts for up to 10 children. Plus, it also features adult, teen, and kid cards. Chore tracking is coming soon.
Everything from Premium account +
- Up to 10 kids accounts
- Adult cards
- Teen cards
- Kid cards
- Parent view
- Parent permissions
- In-app money requests
- Chore tracking (Coming Soon!)
Qube Platinum Plan (COMING SOON!)
The platinum plan is coming soon, and it will be for power users with rewards and partner benefits.
- Corporate partner benefits
- Qube Masters training
- QP metal card
Qube Lifetime Membership
There is also the option to purchase a lifetime membership. Click here to learn more about their 100% money-back guaranteed Premium and Family plans. This is the CHEAPEST way to use Qube money for you and your family!
Is Qube Money Safe?
One of the biggest concerns people have about financial technology is regarding safety. Qube Money understands this worry.
They designed their debit card using Default Zero technology.
That means that your card has a default balance of $0. Unless a category is activated by you on your phone, it is virtually impossible for someone to use your card. That means you can swipe your card and use the app worry free.
Additionally, when you deposit money with Qube Money, your money is held in a partner bank with FDIC insurance.
Is Qube Money Worth It?
Qube Money really shines when it comes to their premium and family plans. The premium plan works well for couples who do and don’t combine their finances. Even if you are working from separate bank accounts, you can use Qube with your partner to achieve your money goals together.
Additionally, Qube Money for families can really help children and teens better understand how finances work and how to manage their money. If your child is too young to have their own checking account, Qube Money is a terrific way to give them hands on experience with budgeting and planning ahead. Plus, they can understand firsthand how deposits and debits work.
Qube Money FAQ
One thing we love about Qube Money is how streamlined the app and spending system are. However, as with any new fintech, you probably have questions. Here are the most frequently asked questions about Qube Money and our answers to them.
How do I contact Qube Money customer service?
Looking to get in touch with someone at Qube Money? Qube Money doesn’t have a phone number to call, but their website features a built-in chat tool and an FAQ page. You can also send them an email at support [at] qubemoney [dot] com.
Does Qube Money have any fees?
It makes sense that you want to keep an eye on cost when it comes to a tool that helps you save. There’s good news when it comes to Qube Money and fees. The only fee you’ll pay with Qube Money is the subscription fee based on the plan you’ve selected. Currently, there are no overdraft or ATM fees.
What is Qube Money's routing number?
The Qube Money routing number is 091311229. Use the app profile to locate your account number.
Is Qube Money Available for iPhone or Android?
Both! Qube Money was originally released in BETA on iPhone, but has recently released the BETA version of their Android App. You can join the BETA and test for yourself here.