Albert Review: An All-in-One Personal Financial Assistant

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Key takeaways

Albert is a fintech app that lets users bank, save, budget, and invest all one platform. Users can earn cash back, enjoy overdraft protection, and get direct deposits early.
Albert’s Genius feature provides personalized advice from financial experts so users can make informed financial decisions.
The automatic savings tools and guided investment options simplify the process of setting aside money and encourage users to save and invest with ease.

Saving money isn’t always easy. That’s where the popular fin-tech app Albert comes in. Albert is a one-stop financial planning tool that tracks your spending, teaches you how to invest, gives you a cash advance so you won’t overdraft, and helps you save without changing your spending habits.

Intrigued? Lots of people are. An app that aims to save 5% to 10% of your income each month is very appealing. And all this without budgeting and writing down every single expense. It feels too good to be true. But that’s exactly what Albert can do.

Ready to learn more? Read on and learn all about how Albert has helped members save and invest over $1 billion without even thinking about it.

What is Albert?

Albert Budgeting & Banking is the finance app that does it all. Launched in 2015, Albert combines banking, automatic savings, budgeting, investing, and more in one all-inclusive platform. Best of all, their Genius feature gives you personalized financial advice from experts whenever you need it.

Albert has helped millions of users take control of their finances and achieve their savings goals.

“For those of us who struggle with budgeting, saving, and investing, Albert is a shortcut to financial freedom.” Bobby Samuels, Wall Street Zen Financial Contributor

To start, all you have to do is link all your accounts to the app. It will then analyze your finances and help you make informed decisions to optimize your savings. In addition, you’ll get budgeting insights, the ability to invest, overdraft protection, and more.

Albert uses the same security measures as major banks so you know your money is safe.

How can Albert help?

1. Banking with rewards

Like a lot of fintech apps, Albert is not a bank. It partners with Sutton Bank, Member FDIC, and has some pretty remarkable banking features.

If you open an account and set up direct deposit, you can get your paycheck up to two days early! This is because Albert releases your deposit as soon as they receive it, unlike a lot of big banks.

Genius subscribers can earn up to 20% cashback – unheard of – on gas, groceries, delivery, and more with their Albert debit card. On average, people get $2 cashback on a tank of gas and $1.50 cashback on fast food delivery.

Genius subscribers can also withdraw cash from over 55,000 ATMs fee-free. Find a map of in-network AllPoint ATMs on the app.

Whether you’re a Genius subscriber or not, there are no minimum balance requirements, no maintenance fees, and unlimited transfers. Even Albert’s banking features help save you money!

2. Get a $250 cash advance

If you’ve ever overdrawn your account you know how steep the fees can be. Traditional banks charge consumers an average of $35 per overdraft transaction. That means that you can be charged that more than once!

Albert doesn’t think this practice is fair. So they offer up to $250 in instant overdraft coverage. Overdraw your account and get an instant cash infusion of up to $250.

There are no credit checks and no fees for this service, but you do have to be a Genius subscriber to qualify.

Albert will withdraw the money when you deposit your next paycheck or as agreed.

Love the App

“Love Albert! It helps me get from one pay period to the next.” Edward Blake, Trustpilot Review

3. Enjoy smart money savings

There are plenty of apps out there designed to help people save money. What makes Albert unique is that it actively finds savings opportunities for you. Albert uses Smart Savings, an advanced algorithm and artificial intelligence that analyses your spending patterns, income, and bills to determine how much you can safely save each week. It then automatically transfers small amounts of money from your checking account into savings so you can save effortlessly. The amounts are so small that many people don’t even notice the money has been moved to their savings.

The best part, Albert will never initial a withdrawal if your checking account is too low. Plus, you can easily pause withdrawals (or opt for manual) if you have a big expense coming up and restart them at any time.

Experts highly recommend automating your savings, whether it’s through Albert’s Smart Money feature or by setting aside a predetermined amount each month. It’s the best way to tuck some money away for emergencies or savings goals.

While Albert makes it easy to save, it isn’t a bank so it can’t offer interest. Though it does provide monthly bonuses! Get $0.25 for every $100 in your savings account if you’re a Genius subscriber!

Easy Savings

“I saved over $650 in 3 months without thinking about it.” Megan Leonhardt, Senior Economics Writer CNBC

4. Invest with only $1

Albert designed its investing feature for beginners who don’t know much about investing and don’t have a lot of cash. All you need to start is $1 and Albert will help you do the rest.

Choose from a variety of curated themed portfolios – think sustainability or women-owned businesses – or answer a few questions and Albert’s team of Geniuses will help you create your own portfolio tailored to fit your financial goals, risk tolerance, and time horizon.

Albert makes it easy to invest with its auto-investing option. Turn it on and you’ll invest automatically on a recurring schedule. There are no trading fees. Albert offers single and fractional share investing in U.S. companies and exchange-traded funds (ETFs), making it easy to start building wealth with small sums of money.

One thing to be aware of is that Albert Investing is not FDIC insured or bank guaranteed and so like all investing does involve risk. Overall, it’s an excellent opportunity for beginners to dip their toes in the investment pool without the intimidation of hefty initial deposits.

Great Place to Invest

“It’s great to have in your back pockets, as a just in case! You can allow Albert to invest and manage your funds and grow your wealth. It’s a great app and very useful.” Amanda Jurgensen, Trustpilot Review

5. Easy budgeting tools

Albert promises to simplify your finances and help you save. One of the ways it does this is by providing budgeting tools. You can see your bills, spending patterns, and savings across all your accounts.

It’s a comprehensive overview of your finances in one place.

Albert categorizes your transactions, provides real-time spending insights, and alerts you if you exceed your set budget limits or are about to overdraw your account. Plus, Albert monitors your subscriptions, and sends alerts about any unusual transactions, or bill hikes, and helps you negotiate lower bills! Albert claims to on average have helped members save $250 annually.

Albert can help you identify areas where you’re overspending and cut back so you don’t spend more than you earn. Say goodbye to overdraft fees and hello to more savings.

Try It

“Albert helped me invest, boost credit and budget. There are so many options available to help improve financial stability.” Starphire Chronicles, Trustpilot Review

Let’s talk about the Geniuses

Albert’s Geniuses are a team of real people who answer questions about finances via the in-app chat whenever you need them. Or you can schedule a video call. You get to ask licensed financial advisors about anything big or small.

Wondering if you can afford the apartment you’re eyeing? Are you trying to decide if it’s better to rent or lease a car? Want to invest for retirement but aren’t sure where to start? Ask the pros. They are just a text away.

A credit builder card from Albert

Albert is launching a credit builder card designed to help users improve their credit scores. This new offering will provide an accessible way to build credit through responsible uses. Interested users can join the waitlist to be among the first to take advantage of this innovative tool.

How much does Albert cost?

Basic Albert services are free. If you want a Genius subscription you’ll have to pay. The subscription costs $12.49 per month when billed annually or $14.99 per month billed monthly.

With a Genius subscription you get:

Financial advice from experts
Smart Money savings
Annual savings bonus
Customized investment portfolios
Auto-Investing feature
Cash back rewards
Access to 55,000+ fee-free ATMs

Albert’s pros and cons

Pros

Automated savings: Albert uses algorithms to analyze your income and spending habits, automatically transferring small amounts to your savings.
Financial advice: The app provides personalized financial advice through Albert Genius, a subscription service offering guidance from human financial experts.
Budgeting tools: Albert helps users create and manage budgets, track spending, and categorize expenses.
Overdraft protection: Albert offers instant overdraft coverage up to $250 with no credit check.
No hidden fees: The app’s fee structure promotes transparency, ensuring users are not surprised by hidden costs.
Security: Albert employs bank-level security measures, including encryption and multi-factor authentication, to protect user data.
Integration: The app can connect with various financial accounts, providing a comprehensive view of the user’s financial health.
User-friendly interface: Albert’s intuitive design makes it easy for users to navigate and utilize its features effectively.

Cons

Subscription costs: The Albert Genius service requires a monthly subscription fee, which might be a drawback for users looking for free financial advice.
Limited overdraft coverage: While useful, the overdraft feature is capped at $250, which may not be sufficient for all users.
Savings Speed Control: Users have limited control over how aggressively the app saves money on their behalf, which may not align with everyone’s preferences.
Dependence on external accounts: Albert’s effectiveness relies on its integration with external bank accounts, which might pose challenges if there are connectivity issues or if users prefer not to link all accounts.
Limited investment options: Unlike some other financial apps, Albert does not offer a wide range of investment options, focusing more on savings and budgeting.
No physical bank branches: As a digital-only platform, Albert does not offer in-person banking services, which might be a disadvantage for users who prefer face-to-face interactions.

Who is the app right for?

Albert is designed for anyone who wants to manage their money in one spot. It’s perfect for people who have trouble saving money and are interested in automating their savings with the Smart Money feature. Beginner investors may find investing with Albert an easy place to start investing with small sums. Anyone who wants to chat with a financial advisor without paying high fees can benefit from Albert’s Geniuses.

Want to access your pay early?

Check out how Earnin can help you get paid as you work! Read our in-depth review for more information.

Bottom line

If you’re looking for an all-one digital app for your finances, then Albert might be perfect for you. It is a popular app thanks to the Genius feature, low fees, and no credit checks.

The subscription fee is a little high if you don’t use all the app’s features. But if you need a helping hand with saving, investing, and budgeting, then Albert has your back.

Give it a shot and see if Albert is the money management app for you.

1. Paycheck Advance is For eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank. Expedited disbursement of your Paycheck Advance is an optional feature that is subject to an Instant Access Fee and may not be available to all users. Expedited disbursements may take up to an hour. For more information, please refer to Paycheck Advance Terms and Conditions.

2. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.

3. Individual results may vary. Using your credit card responsibly may allow you to improve your credit score. Credit building depends on various factors, including your payment history, credit utilization, length of credit history, and other financial activities.

4. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.

5. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Funds held in Savings Pods are FDIC-insured on a pass-through basis up to $250,000 at our partner bank Choice Financial Group, member FDIC

6. Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive $500 or more in Qualifying Deposits into your Current Account over the preceding 30-day period. For more information, please refer to Fee-free Overdraft Terms and Conditions.

7. You may earn Points in connection with your everyday spending and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. The Current Points program is not available to Teen Account holders. See Current Points Terms and Conditions.

8. Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.

9. Boost Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a Boost Bonus of at least $0.01. The Boost rate on Savings Pods is variable and may change at any time. The disclosed rate is effective as of August 1, 2023. Must have $0.01 in Savings Pods to earn a Boost rate of either 0.25% or 4.00% annually on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00%. A qualifying direct deposit of $200 or more is required for 4.00%. No minimum balance required. For more information, please refer to Current Boost Terms and Conditions.

10. Cryptocurrency services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC, and may not be available in all states. Terms and conditions apply. When you buy or sell cryptocurrency, a difference between the current market price and the price you buy or sell that asset for is called a spread. However, unlike most other exchanges Current does not charge an additional trading fee. Cryptocurrency transactions are a form of investment, and all investments are subject to investment risks, including possible loss of the principal amount invested. Cryptocurrency is not insured by the FDIC or any other government-backed or third-party insurance. Your purchase of cryptocurrency is not a deposit or other obligation of, or guaranteed by, Choice Financial Group or Cross River Bank. The cryptocurrency assets in your Zero Hash account are not held at Current, Choice Financial Group, or Cross River Bank. Current, Choice Financial Group, and Cross River Bank are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither Current, Choice, nor Cross River Bank is involved in the purchase, sale, exchange of fiat funds for cryptocurrency, or custody of the cryptocurrencies. Terms and Conditions apply (platform and user agreements). Crypto on Current is not currently available in HI. Licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. This does not constitute investment advice.

11. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Your money is FDIC-insured on a pass-through basis up to $250,000 at each of our partner banks, Choice Financial Group and Cross River Bank, members FDIC.

12. Average value based on Fine Hotels + Resorts bookings in 2023 for stays of two nights. Benefits include daily breakfast for two, room upgrade upon arrival when available, $100 amenity, guaranteed 4PM late checkout, and noon check-in when available. Certain room categories not eligible for upgrade. $100 amenity varies by property. Actual value will vary based on property, room rate, upgrade availability, and use of benefits.

13. Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

14. The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

15. Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one- way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

16. Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

17. Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions, and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

18. When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

19. Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited to up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

20. Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

21. The secured Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.

22. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

23. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.

24. There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.

25. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.

26. Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.

27. Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2020 and October 2020 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.

28. On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.

29. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

30. SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.

31. Tipping or not tipping has no impact on your eligibility for SpotMe®.

32. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

33. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.

34. Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.

35. Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.

36. Funds are automatically debited from your Checking Account and typically deposited into the recipient’s Checking Account within seconds. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed.

37. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.

* EarnIn is not available for Connecticut residents

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.

Albert Review: An All-in-One Personal Financial Assistant

Key takeaways

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What is Albert?