Existing Albert customers can upgrade their Albert Savings to a high yield savings account. With a high yield savings account, you can earn interest on your savings balance. There’s no minimum balance or minimum deposit required to upgrade your account. High yield savings accounts are only offered on certain Albert plans and may require upgrading to a higher priced plan. See app for details.
You can continue to use Smart money to automatically save with a High yield savings account. And, any savings goals will remain in your account as well. Read more about Smart money here.
To upgrade your account
- On the home screen, tap Savings.
- Tap on Settings (⚙️).
- Tap on Upgrade to High yield savings.
Your funds
- Albert Savings accounts (including high yield savings accounts) are held for your benefit at FDIC-insured banks, including Wells Fargo, N.A., and Coastal Community Bank (“Deposit Banks”).
- Funds in Albert Savings accounts are eligible for FDIC insurance up to $250,000 on a pass-through basis.
- 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 at any time once your deposits are complete.