What is the HausMoney Card?
The HausMoney Card operates like a credit card but is backed by funds that are transferred into it via tips and/or earnings through TipHaus. The transferred funds determine the card's spending limit, providing a secure way to manage expenses while building credit history.
How It Works:
Fund Transfer: Tips and earnings are regularly transferred into the HausMoney card account.
Spending Limit: The available balance from these transfers becomes the card's spending limit, which is set to $2,500 per day.
Transactions: Purchases are made up to the current balance.
Full Payment Required: Like a traditional card, the balance must be paid in full each billing cycle; this occurs automatically with no action needed from your part.
What do I need to do in order to sign up for the HausMoney™ Card?
In order to sign up for the HausMoney Card please go through the following steps: Please log into the TipHaus Employee App my.tiphaus.com with your TipHaus registered email and at the bottom click on the credit card image then tap Sign Up under HausMoney.
Switching from HausDirect to HausMoney:
You can log into the TipHaus Employee app with your TipHaus registered email and at the bottom click on the credit card image then click on the link: Update Payout Method in order to switch over from HausDirect (direct deposit into an existing bank account) to HausMoney (brand new checking account).
I need a new invitation code:
Log into the TipHaus Employee App with your registered email and at the bottom click on the credit card image, then click on the link: Resend Email Now, this will extend your Invitation Code expiration date for another two weeks.
If I'm a minor, can I sign up for the HausMoney Card?
Not at this time, since it's a credit product we currently don't have the ability to sign up minors. We hope to introduce this feature or a similar product in the future. Alternatively, you can sign up for HausDirect (receive your tips directly to an existing debit card for a fee) or receive tips on paycheck.
Will my credit score be impacted? Are you doing a soft or hard pull from my credit score? Is there a way for my credit to be negatively affected while I have the HausMoney™ Card?
The 'soft inquiry' credit check is used to pre-approve your credit builder line of credit. Once you have been approved you will see a new opened tradeline from Upwardli. Your credit score can be negatively impacted if you turn off autopay and fail to pay back your liability.
Why is credit reporting important?
Whether you are new to the U.S. or just getting a credit score started, a 'thin' credit file can make it difficult to get financial services, buy a car, rent a house, or even secure a job. Reporting transfers to the credit bureaus builds your credit history, increases the types of credit on your credit report, and may boost your score.
How do I contact HausMoney™ Card's customer service?
We can be reached via email at [email protected] or our number +1-253-693-0366 and select HausMoney.
What are the benefits of the HausMoney Card?
The HausMoney Card includes the following benefits:
Instant payouts: Receive your tips directly into your digital account, giving you immediate access to your earnings.
Credit building: Payments are reported to credit bureaus, helping users establish or improve credit history. Ideal for individuals with limited or no credit history.
Controlled spending: The spending limit is tied to the transferred funds, reducing the risk of overspending. Useful for managing budgets or controlling employee expenses.
No Fees & No Interest: No annual fees and no interest charges.
Are my funds FDIC insured?
Yes, funds held in your HausMoney account are FDIC-insured up to $250,000 at Cross River Bank, Member FDIC. Upwardli is a financial technology company, not an FDIC-insured bank. Lines of credit and deposit product provided by Cross River Bank, FDIC. Deposit product is FDIC-insured up to $250,000 through Cross River Bank. Line of credit is not a deposit product.
Which Credit Bureaus does my Card Report to?
Currently, we report to both Equifax® and Experian® each month. Once you sign up, your HausMoney activity should start appearing on your credit report in the following month. As the HausMoney Card is powered by our financial technology partner, Upwardli – you will see Upwardli as the entry 'Upward Financial Inc.' on the credit report. For example; if you signed up in December, our first credit report would be submitted in December and we should appear on your credit report in January. If you're not seeing the “'Upward Financial Inc.” entry on your credit reports within 45 days, please contact customer support and we will be happy to help.
How can I access support articles that may answer my questions?
Please visit https://guide.hausmoneyapp.com/en.
Additional Information:
Tip earnings are deposited by your employer participating in the Tiphaus ETA Program. Employers determine the cadence in their tip payouts. When restaurants participate in the ETA Program, they have the ability to distribute tip earnings daily to their employees. Please visit the TipHaus Employee App to get an estimate of what will be paid out to you.
The HausMoney card has no annual fees, but some fees may apply, including out-of-network ATM fees, late payment fees, and other fees. For more information, please see the Cardholder Agreement and Deposit Account Agreement.
On-time payment history may have a positive impact on the credit score, while late payments may negatively impact it. We report payment history to Experian and Equifax. Credit impact may vary based on a number of factors, including the financial decisions that are made with other financial services organizations.
We partner with Plaid to enable financial institution linking in the hausmoney mobile app. Plaid enables the ability to link to over 12,000 U.S. financial institutions, plus many more in Canada, U.K., and Europe.
hausmoney™ is a financial technology and services brand providing banking services in partnership with Cross River Bank: Member FDIC. The HausMoney Card is issued by Cross River Bank pursuant to a license from Mastercard, Inc. and may be used everywhere Mastercard debit cards are accepted. Please review our Cardholder Agreement to learn more.