Do you ever really feel the entire monetary system is conspiring in opposition to you?
They don’t make it simple, do they? They make managing your cash really feel like tiptoeing throughout a tightrope. Take your eye off the ball for a second and also you’ll fall right into a pit of infinite charges — overdrafts, ATM charges, dipping under each day minimums, ugh.
What if there was a monetary app that was completely in your aspect? That’s Albert, an all-in-one app that mixes banking, financial savings, investing and budgeting.
What actually units Albert aside is its Genius service, which lets you textual content or Zoom with actual human monetary specialists who can provide you recommendation on any monetary subject. They’ll assist you determine what to do together with your cash.
This rising app has 8 million members who’ve collectively saved over $1 billion. Subscribers to the Genius service save a mean of $400 of their first six months, Albert says. (A variety of us have just about nothing in financial savings proper now.)
Additionally, you get a candy $150 bonus whenever you join. Particulars under.
We determined to assessment Albert and the varied providers it provides. Right here’s our rundown of its 5 foremost options:
1. Albert Prompt
Right here’s the most effective factor about Albert: You may get a money advance of as much as $250 to tide you over whenever you want it — and also you’ll pay no curiosity on it. Simply pay it again together with your subsequent paycheck.
Grade: 5/5 stars
2. Albert Money
Albert Money is a authentic account you need to use in your banking. Similar to the brick-and-mortar financial institution down the road, your deposits are FDIC-insured as much as $250,000. The account additionally has bank-level safety.
Listed below are its different options:
- You may get paid as much as two days early.
- You may earn as much as 20% money again on purchases.
- There’s no minimal stability and no upkeep charges.
- It’s simple to ship or deposit checks.
- Genius subscribers can use 55,000 free ATMs.
Grade: 4.5/5 stars
3. Automated Financial savings
Having hassle saving cash? Put it on autopilot and see what occurs.
Albert analyzes your revenue, payments and spending habits, then units apart small quantities of cash that can assist you save towards all of your objectives.
Or in order for you, you’ll be able to take management and arrange a custom-made recurring schedule for funneling cash into financial savings.
Genius subscribers obtain an annual financial savings bonus of 0.25% over the course of a yr. All different Albert members obtain an annual financial savings bonus of 0.10% of their complete stability.
Grade: 4/5 stars
4. Ask a Genius
Like we mentioned earlier than, that is what units Albert aside from its competitors. Everybody might use a genius on their aspect.
For as little as $6 a month (strive the primary month free), you’ll be able to textual content Albert’s group of actual stay human monetary specialists anytime for recommendation on questions like the right way to pay down debt sooner, open a school fund in your child, arrange a will or construct wealth.
The Albert Genius group responds to 10,000 to twenty,000 member texts per day, starting from answering private finance inquiries to offering help for Albert’s app.
You may strive Genius totally free for 30 days. For those who’re not impressed, it’s simple to choose out.
Grade: 5/5 stars
5. Investing with Albert
Finally, investing is one of the best ways to construct wealth. It’s a must to subscribe to Genius to begin investing with Albert. However when you try this, it solely takes $1 to begin investing.
You may spend money on shares or ETFs (exchange-traded funds). The one disadvantage is you could’t spend money on a tax-advantaged retirement plan like an IRA via Albert. You’ll should go some place else for that.
You may both decide your investments by yourself, or have Genius do it for you — which tends to be the most suitable choice for hands-off buyers.
You may arrange Albert to take a position for you weekly, month-to-month, or twice a month.
All the investing is commission-free.
Grade: 4/5 stars
6. Budgeting and Monetary Planning
Budgeting is hard. So Albert will enable you map out a price range.
It’ll ship you alerts that can assist you keep away from errors. For instance, the app will let you understand for those who obtain a tax refund, have a invoice developing, pay an sudden charge — just about something that occurs together with your cash.
You may mechanically observe your spending and see your obtainable funds. Genius can present you insights in your price range in addition to your monetary planning timeline.
Grade: 4/5 stars
Albert has a few different helpful choices:
You may get good offers on insurance coverage via the app — all types of insurance coverage. Auto, house, renters or life insurance coverage. It’s simple to get quotes and see if you may get a greater deal than what you will have now.
With its characteristic known as “The Publish,” Albert breaks down the largest each day tales in cash, from investing information to authorities coverage to matters like pupil loans.
How Does Albert Stack Up?
With so many helpful options, Albert features as a one-stop store for all of your monetary wants. It will possibly enable you make all types of essential selections.
Professional: The Genius service places actual human monetary specialists at your fingertips, for a cut price value.
Con: Albert doesn’t have a cellphone quantity you’ll be able to name for customer support, and that’s a disadvantage. It has customer support by way of textual content, although. And Genius subscribers can ask questions on their funds by way of Zoom.
Albert’s customers seem to love it. The app is extremely rated in Apple’s App Retailer, with 4.7 out of 5 stars from 119,000 customers. In Android’s app retailer, it’s rated 4.0 out of 5 stars with 45,000 critiques.
Our total grade for Albert: 4.5 out of 5 stars
It solely takes a couple of minutes to join.
Mike Brassfield ([email protected]) is a senior author at The Penny Hoarder.
To be eligible for direct deposit bonus, obtain a qualifying direct deposit of no less than $500 inside 45 days of join and each 30 days for 90 consecutive days. Spend no less than $200 on qualifying items and providers together with your Albert debit card each 30 days throughout the identical 90-day interval. Phrases apply. See app for particulars.
Obtain to see for those who qualify for Albert Prompt. Repay the Prompt advance together with your subsequent paycheck. Charges could apply.
Albert just isn’t a financial institution. Banking providers supplied by Sutton Financial institution, Member FDIC.
The Albert Mastercard® debit card is issued by Sutton Financial institution, Member FDIC, pursuant to a license by Mastercard Worldwide Included. Early entry to direct deposit funds could differ relying on the payer’s deposit timing. Money again topic to phrases. ATM charges could apply.
Albert Financial savings accounts are held in your profit at FDIC-insured banks, together with Coastal Group Financial institution and Wells Fargo, N.A. Financial savings bonus could differ.
Once you be a part of Albert, you’ll arrange an Albert Money account and a 30-day trial for Albert Genius as a part of the sign-up course of. For those who cancel inside 30 days of signing up, you’ll not be charged in your subscription. Your subscription will auto-renew till canceled.
All investments contain danger. Advisory providers supplied by Albert Investments, LLC. Securities services and products supplied to self-directed buyers via Albert Securities LLC, Member FINRA/SIPC.