Albert Savings is our automatic savings feature that saves money from your linked bank account and transfers it to Savings, which lives in the Albert app.
You can choose to use Smart Savings, or if you're looking for more control, select a fixed amount to save on a set schedule.
If you choose to use Smart Savings
Our Smart Savings algorithm sets aside small amounts of money to help you save. You can read more about how the algorithm works here.
- You can expect Smart Savings to save between $5 and $100 a week, with up to 3 transactions initiated per week.
- If we determine you can save, we initiate a transfer for the Smart Savings amount from your linked bank account to your Savings account.
- To avoid overdrawing your account, we won't initiate a Savings transfer if your bank account balance is too low.
If you choose an amount to save on your own schedule
Albert will transfer the amount you select (either on a weekly, twice-monthly, or monthly basis) from your linked checking account to Savings. If you select a set schedule to save, deposits may initiate a few days after the scheduled date to help prevent overdrafts.
| Savings schedule | Transfers initiate... |
| Weekly | Every Monday |
| Twice Monthly | On or after the 1st and 15th of every month |
| Monthly | On the first business day of the month |
Additional details
- Albert Savings are FDIC-insured up to $250,000 through our partner banks.
- Savings transfers typically take 3–6 business days (Mon–Fri, excluding federal holidays) to complete. Read more about transfer times here.
- The money in your Savings account is yours, available for withdrawal anytime. There's no fee for transferring your funds.
- Albert places your Savings funds in the default savings goal, the Rainy day fund. The ability to add personalized savings goals is an extra feature offered to Genius subscribers.
