The app’s second automated savings program, Save When I Get Paid, allows members using direct deposit to automatically transfer up to 10% of every paycheck directly into their savings account. Chime’s high-yield savings account currently pays a competitive 1.00% APY.
When the Round Up feature is enabled, Chime automatically rounds up purchases made on your Chime debit card to the nearest dollar and then transfers the difference from your spending account into your savings account. Mobile banking app Chime has been gaining some serious traction, offering a spending account, Visa debit card and optional high-yield savings account.Ĭhime offers two automatic savings programs: Round Up and Save When I Get Paid.
Savings account app plus#
For $2 a month, you get those options plus the IRA with Acorns Later. For $1 a month, you can get the core Acorns round-up app, along with the Found Money program and Grow magazine. If $3 a month is too expensive – or if having to pay money for a checking account makes your cringe – Acorns offers cheaper options. The fintech’s last product line is “Grow,” a financial literacy platform aimed at educating its users on budgeting, debt and saving, among other topics. Buy from Apple, and 1.2% of the purchase price will go into your savings accounts. For example, if you shop at Macy’s, you’ll get 5% back. You’ll also get access to Acorns Later, the startup’s IRA option, allowing users to begin investing with $5 in a Roth IRA, Traditional IRA or SEP IRA (Acorns selects the right IRA for you based on your financial profile).Īcorns “Found Money” program allows more than 200 partner brands to kick in a percentage of purchases to a buyer’s Acorns accounts.
Savings account app free#
For $3 a month, users can also get access to a FDIC-protected checking account and debit card, allowing for real-time round-ups, no minimum balance or overdraft fees, and unlimited free or fee-reimbursed ATM withdrawals. With five million users, Acorns has expanded beyond micro-investing and now has five products. The mobile app rounds up each debit or credit card purchase to the nearest dollar, investing extra pennies in a diversified portfolio of low-cost index ETFs. Widely recognized as the original round-up app, Acorns launched in 2014 with a mission to invest your spare change.
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