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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.
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 Review3. 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!
New
Easy Savings
“I saved over $650 in 3 months without thinking about it.” Megan Leonhardt, Senior Economics Writer CNBC4. 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 Review5. 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 ReviewLet’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.
Take control of your money!
Get financial advice, automatic savings, paid up to 2 days early, and more.
NO minimum balance and NO maintenance fees.
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
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?
Final Thoughts
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.
