It has since become recognized as one of the company's five biggest annual events of the year, along with the Royal Rumble, WrestleMania, SummerSlam, and Survivor Series, referred to as the "Big Five".

The winner can then cash in the contract at a time and place of their choosing anytime within the next year – beginning the night they win the briefcase.

The idea for the match was conceptualized by then-WWE wrestler Chris Jericho and former WWE writer Brian Gewirtz.

[23] Additionally, the 2020 event was the first event to directly award a championship for winning the Money in the Bank ladder match; on the following night's episode of Raw, it was revealed that the women's ladder match had actually been for the Raw Women's Championship due to reigning champion Becky Lynch going on maternity leave.

In May 2021, the company announced that they would be leaving the ThunderDome and returning to live touring, beginning with the July 16 episode of SmackDown in Houston, Texas.

[30] The 2022 event was announced during the 2021 SummerSlam, which was held at the Allegiant Stadium in the Las Vegas suburb of Paradise, Nevada.

[31][32] However, on May 26, 2022, it was announced that the event had been moved to the nearby MGM Grand Garden Arena, although still on the same date, thus marking the first Money in the Bank to be held on a Saturday.

[33] While Money in the Bank had originally been established as one of WWE's monthly PPVs held between their "Big Four" shows (Royal Rumble, WrestleMania, SummerSlam, and Survivor Series), in August 2021, WWE President and Chief Revenue Officer Nick Khan referred to Money in the Bank as one of the company's "five annual tentpoles",[34] subsequently elevating the event's status as one of WWE's five biggest events of the year, referred to as the "Big Five".

[39] The 2024 event was the first Money in the Bank to be held in Canada, with it scheduled for Saturday, July 6 at the Scotiabank Arena in Toronto, Ontario.

[41] From 2011 to 2018, "Money in the Bank" by former in-house WWE composer Jim Johnston was used as the event's theme song.

[42] Before the advent of the event, Johnston's song was used as the entrance music for Donald Trump for his numerous guest appearances on WWE television.

[43] From 2019 to 2023, the theme song for the event has been "Gotta Get That" (renamed to "Cash In" in 2023),[44] written by WWE's current in-house composer def rebel.