Cash back, early direct deposit


Global mark

Advantages and disadvantages

Albert Cash

Annual percentage return (APY)

Nothing

  • Advantages and disadvantages

  • Details


  • Advantages
    • No minimum opening deposit
    • No monthly service fees
    • No overdraft fees
    • Up to 20% cash back
    • Receive paychecks up to 2 days in advance
    The inconvenients
    • Off-network ATM fee of $ 2.50
    • No overdraft option
    • No way to deposit money
    • No joint accounts
    • 55,000 free ATMs, with an ATM locator in the app
    • Cash deposit by direct deposit, mobile check deposit, or wire transfers from other bank accounts
    • Activate cash back rewards with one merchant at a time, in your mobile app
    • FDIC insured through a partner institution, Sutton Bank

    The Albert Cash account is a good free account that processes your direct deposits up to two days in advance. You can also earn up to 20% cash back at select retailers. However, you can only activate Cash Back with one retailer at a time with your app. When you activate the rewards with another company, your rewards with the other become deactivated.

    Albert savings

    Annual percentage return (APY)

    0.10% to 0.25% APY

    Minimum deposit

    None, or minimum $ 4 per month with a Genius subscription

  • Advantages and disadvantages

  • Details


  • Advantages
    • No minimum opening deposit
    • No monthly service fees on basic savings
    • Smart Savings automatically transfers money from a checking account linked to savings if the algorithm says you can afford it
    • Competitive interest rate for Genius subscribers
    • Genius subscribers can set personalized savings goals
    The inconvenients
    • Low interest rate if you are not a Genius subscriber
    • Minimum monthly fee of $ 4 for the Genius subscription
    • No joint accounts
    • Smart Savings helps you automatically save money from a linked checking account; choose a schedule of weekly, bi-monthly or monthly savings transfers
    • A Genius subscription includes personalized savings goals and a higher APY, as well as access to live financial experts and a tool that analyzes your financial plan.
    • The Genius subscription costs at least $ 4 per month, but you can choose to pay more; with a monthly subscription, your first 30 days are free
    • FDIC insured through a partner institution, Sutton Bank

    Albert Savings has strong savings tools. By activating Smart Savings, you allow Albert to regularly assess your linked checking account and transfer money to savings. The exact amount depends on how much the algorithm decides you can afford each time

    With a Genius subscription (which costs $ 4 per month), you can also create separate savings funds, such as “Travel” or “Down payment.” The Genius subscription also pays a higher interest rate on savings.

    How Albert works

    Albert is a digital financial platform with a cash account, savings account and automatic investing tools. Albert does not offer joint accounts.

    There is no monthly service charge for the Cash Account or Basic Savings Account. But if you upgrade to a Genius subscription, you’ll pay $ 4 per month. You also have the option of paying more if you think Albert deserves more money.

    The Genius subscription allows you to create separate savings goals in the savings account and earn a higher interest rate. You’ll also have access to Albert’s team of financial experts and a tool that assesses your financial plan, including debt repayment, budgeting, and more.

    Albert does not have a physical location, but he has over 55,000 free ATMs in the United States. You can locate the nearest free ATM in the Albert app. The app has 4.7 out of 5 stars in the Apple Store and 4.1 out of 5 stars in the Google Play Store.

    To contact customer service, send an SMS or e-mail to Albert.

    Your deposits are FDIC insured up to $ 250,000 through Albert’s partner institution, Sutton Bank.

    Is Albert trustworthy?

    Albert has no public controversy.

    The Better Business Bureau gives Albert an A- for reliability. The best rating given by the BBB is an A +, and the website states that Albert has an A- due to the high number of customer complaints on the BBB website.

    However, a high BBB score does not guarantee that you will have a smooth relationship with a business. You might want to ask your friends and family about their experiences with Albert or read customer reviews online.

    How Albert compares

    We compared Albert’s banking functionality to that of two platforms that also offer spending, savings, and investing tools: Wealthfront and Betterment.

    Albert and Betterment each have separate checking and savings accounts, while Wealthfront has a hybrid checking / savings account. Wealthfront, however, allows you to create separate savings goals in the account.

    Betterment and Wealthfront allow you to open joint accounts, but Albert only has individual accounts. Neither company charges a monthly service fee, although Albert does charge $ 4 per month for his Genius subscription which includes additional features.

    You may prefer Albert or Wealthfront if you want to receive direct deposits up to two days in advance. However, the improvement could be better for travelers, as it reimburses all ATM and overseas transaction fees.


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