What is the Savings Account?

With the Savings Account, you now have an option to grow your savings in an easy, fee-free way. As long as you have a Checking Account, you can enjoy a competitive Annual Percentage Yield (APY) with no minimum balance required.

To open a Savings Account:

1. Open the app.
2. On the homepage, tap Set up next to Savings.
3. Tap Open Savings Account.
4. Type your SSN. It should match the SSN you opened your account with.
5. Read the Savings Account Agreement and Electronic Communication Agreement, tick the checkbox, and tap Open Account.
6. If you’d like, tap Turn On for automatic savings.
7. Tap Done.

To learn more about the automatic savings feature, check out How do I add money to my Savings Account?

I closed my Savings Account. Can I reopen it?

Yes. You must wait at least 90 days before reopening the account. This way, you can start saving again without going through a new account setup process.

How can I access money in my Savings Account?

Your Savings Account is a great place to grow your money, but it doesn’t support direct payments or purchases. To use your savings, simply transfer the money to your Checking Account or your Credit Builder Card. This keeps your savings separate from everyday spending, but still allows instant access to your fund.