Last updated on April 5th, 2023
Thanks to its “We’re Banking on You” ethos and unique digital platform, Albert is the first company to bring high-touch personalized banking to everyone. Albert combines banking, savings, investing, and budgeting with Albert Genius, a team of finance experts who provide advice on any financial topic instantly by text. But what is Albert, and is it for you?
What is Albert?
Albert is a wealth management service and financial app that provides automatic savings tools and accounts, cash-back rewards, auto-investment, and other features. Albert operates on a “pay-what’s-fair” pricing model, with monthly fees starting as low as $0.
Opting for the premium tier, which costs between $4 and $14 per month, brings additional features, such as cash back rewards, investment accounts, and access to Albert Genius, Albert’s financial professionals. The Albert Genius team responds to tens of thousands of member queries per day, ranging from answering personal finance questions to providing one-of-a-kind support for Albert’s app.
Albert Features
The Albert app (available on Google Play and Apple App Store) provides an integrated platform for member needs. Here are Albert’s key features:
- Albert Cash: Albert Cash is a bank account where everything comes together: spending money, budgeting, automatic saving, cash back rewards, and more. Features of Albert Cash include $0 minimum balances, $0 maintenance fees, up to 20% cash back, getting paid up to 2 days early, sending and depositing checks, 55,000 free ATMs, and more. The account also comes with the Albert Mastercard®, the associated Mastercard debit card.
- Smart Savings: Albert analyzes members’ income and spending throughout the week, automatically finding savings. On average, Albert members save more than $450 per year.
- Investing: Albert offers custom portfolios tailored to a member’s goals and time horizon and individual stocks and stock collections. All investments have just a $1 minimum, and all trades are commission-free.
- Albert Genius: For a pay-what-is-fair monthly fee (minimum $4/month), Albert members have unlimited access to Albert’s financial professionals and a customized financial plan. Albert Genius answers any financial question, ranging from how to pay down debt faster to buying versus leasing a car to something as simple as making room for coffee in your budget.
“Everyone Deserves Access to Expert, Honest Advice”
“High-quality personalized financial advice has always been reserved for very few people. But without good advice, even the best financial tools can fail to deliver great financial outcomes,” said Yinon Ravid, CEO of Albert, about the service. “We believe that everyone deserves access to expert, honest money advice, regardless of income or net worth. Providing that advice alongside amazing financial products positions Albert as the all-in-one financial app for the next generation.”
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