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How do Savings transactions work?

Savings transactions have one of three statuses:

  1. Initiated

    The Savings transaction you requested needs to be processed by our bank. While a manual withdrawal or deposit transaction is initiated, you may cancel it from the transaction's details screen.

  2. Processing

    The transaction has started, but your bank is yet to confirm the Savings have processed. Your Savings balance might already reflect the processing transaction, even if the funds haven't completely posted. Transactions marked "In Progress" cannot be canceled because the transfer has already been transmitted to your bank.

  3. Completed

    Your transaction posted, and Savings are now moved to the account in which they were sent. Please note: to prevent money-laundering, any deposit you make into your Albert Savings account cannot be withdrawn until 72 hours after the transaction initiated.

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Albert is not a bank. Banking services provided by Sutton Bank, Member FDIC. Albert Savings accounts are held for your benefit at FDIC-insured banks, including Coastal Community Bank, Axos Bank, and Wells Fargo, N.A. The Albert Mastercard® debit card is issued by Sutton Bank, Member FDIC, pursuant to a license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Early access to direct deposit funds depends on the timing of the payer's submission of deposits. We generally post such deposits to Albert Cash accounts on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date. To be eligible for a direct deposit bonus, you need to receive a qualifying direct deposit and meet the spend requirements. Cash back terms apply. See app for details. To be eligible for savings bonuses, you must be subscribed to Genius and maintain a monthly average and ending balance of $10 or more. Bonuses for the month prior are paid by the 3rd of the following month. Download to see if you qualify for Albert Instant. Repay the advance with your next paycheck. Fees may apply. When you join Albert, you’ll set up an Albert Cash account and a 30-day trial for Albert Genius as part of the sign-up process. If you cancel within 30 days of signing up, you will not be charged for your subscription. Your subscription will auto-renew until canceled. Even if you cancel, you can continue to access Albert Cash and Instant. If you cancel, you will lose certain benefits associated with your Genius subscription, such as Savings, Investing, access to Albert’s financial experts, free in-network ATM withdrawals, and more.

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