Albert Cash and Savings review
Albert Cash isn't available on Finder right now.
- Fee
- From $0 per month
- APY
- 0.10%
- Minimum deposit to open
- $0
Our verdict
Get paid early, earn cash back and more — but the best perks require a paid subscription.
Albert is a fintech company with online banking and financial services provided by its bank partners. The checking account, Albert Cash, has a free plan with no opening deposit and no monthly or overdraft fees. But to get access to the best perks with Albert Cash, you need the paid plan Genius, which costs $14.99 per month. The paid plan gets you cashback rewards, a savings account, a smart money auto-savings feature and the opportunity to invest in stocks and exchange-traded funds (ETFs). But Albert doesn’t offer mobile check deposits, there are no physical branches and many negative reviews complain about being auto-enrolled in its Genius paid plan during signup.
Best for: Those who want an all-in-one, modern banking experience.
Pros
-
$0 plan option
-
Albert Instant overdraft service
-
Up to two days early paycheck deposit
Cons
-
Auto-enrolled in free trial of paid plan
-
Need paid membership to access most perks
-
No physical branches
-
No mobile check deposits
Who is Albert Cash best for?
Albert Cash is ideal for someone who doesn’t mind banking online and wants all the bells and whistles of a modern fintech. The free plan gives you access to early paychecks and an overdraft protection service called Albert Instant. But to access its other perks, such as automatic savings, investing options, cashback rewards and more, you’ll need to sign up for its paid plan, called Genius, which requires a $14.99 monthly fee.
If you were willing to pay for Genius to get the Albert Savings account, look elsewhere. You can save more with these top savings accounts.
Albert Cash plans and cost
| Plan | Monthly Fee | Features |
|---|---|---|
| Free | $0 |
|
| Genius | $14.99 |
|
What we like about Albert Cash and Savings
Albert is a fintech company with banking services provided by Sutton Bank, Member FDIC, and Albert Savings accounts are held at FDIC-insured banks, including Coastal Community Bank, Axos Bank and Wells Fargo, N.A. Albert lets you use Allpoint’s extensive network of over 55,000 ATMs. But you’ll pay $2.50 per withdrawal unless you have the Genius paid plan.
The Albert Cash checking account requires no monthly fees or opening deposit and has no overdraft fees. And if you set up direct deposit with your employer, you can get paid up to two days early. Albert also offers a popular overdraft service called Albert Instant, which offers up to $250 in free overdraft protection with the free plan, depending on account activity, transaction history and direct deposits. Keep in mind you must repay the overdraft amount within 10 days.
Cashback rewards
If you’re under the paid Genius plan, you’ll earn cashback rewards with your Albert debit card. There’s no list of where you can earn cash back or the rates, but Albert states it’s a variety of restaurants, delivery services, shops and grocery stores.
To view cashback offers, head to the Albert app and select Checking, which lets you view available cashback rewards and select the one you want. But you can only activate one cashback offer at a time. Cashback rewards are deposited into your Albert Cash account usually within three business days.
Modern financial services
Albert offers three financial features that require the paid membership: Genius assistance chat, Albert Investing and Smart Money.
The Genius assistance feature lets you chat with financial experts and ask financial and investing questions.
Albert Investing lets you create a custom portfolio of stocks and ETFs, which you can manually invest in, or the app can create a portfolio for you. The investing feature works with the Smart Money feature, letting you automatically invest some cash in investment options.
Smart Money analyzes your spending habits and income to estimate how much money you save or invest each week. According to Albert, Smart Money typically saves or invests between $5 to $100 daily, but auto-transfers can be as high as $350 if Albert thinks you can afford it. This is an optional feature, so there’s no pressure to sign up if you prefer to save cash manually.
Where it falls short
Albert has some unique, modern banking features that make it stand out against competitors, but you’ll need the paid membership to access most of them — including a mediocre savings account, investing features, Smart Money and financial chat features.
Albert Genius is also way more expensive than it used to be, previously as low as $8 per month. New users pay $14.99 per month.
Mediocre savings
The Albert Savings account doesn’t have a set APY like most traditional accounts. Instead, it offers “bonuses,” which are set dollar amounts paid once a month based on your account’s average and ending balance each month. And the payouts aren’t worth the monthly cost you’ll need to keep the account open.
For example, if you were to maintain an average balance of $10 to $99 throughout the whole year, you’d only end up earning $0.36.
| Account average and ending balance | Monthly bonus amount |
|---|---|
| $10 to $99.99 | $0.03 |
| $100 to $999.99 | $0.10 |
| $1,000+ | $0.35 |
Albert says it’s working on a more traditional savings account with a 4.95% APY and currently has a waitlist for this upcoming feature.
Reviews complain of free trial troubles
When you sign up for Albert, you’re automatically enrolled in a 30-day free trial for the paid plan, Genius. If you don’t cancel the paid subscription after the free trial, customers report you’re automatically billed for the yearly plan.
To Albert’s credit, these complaints are common with companies that offer limited free trials — they’re easy to forget about. But what’s not common is that you’re signed up for a paid plan, even if your intention was to sign up for Albert’s free plan.
Also, according to customers, it’s a struggle to navigate the app and find where to cancel the paid membership. Tack on the fact you’re automatically billed for the yearly plan — which would cost around $179.88 — that’s a big bill to get hit with if you weren’t expecting it.
Albert’s limited customer support doesn’t help the situation. Although Albert lists a customer phone number, it’s automated. You’ll need to send an email or use the app’s chat function to speak with a real person.
Albert’s fees and access
| Type of fee | Fee details |
|---|---|
| Monthly service | $0 |
| ATMs |
|
| Debit card fees |
|
| Overdraft or nonsufficient funds | |
| Wire transfers |
|
| Other fees |
|
Compare Albert Cash to other accounts
Narrow down top bank accounts by monthly fees, APYs and opening deposits. Select Compare on up to four providers to see their features side by side.
Customer experience
Albert holds a decent B rating with the Better Business Bureau, and those ratings are given based on how well a business responds to complaints and customers.
But what’s not so great is Albert’s large number of customer complaints — over 1,000 in the last few years. Most are grievances over being charged for the Genius membership after the free trial ended, with a smattering of other typical banking complaints, like frozen accounts or issues resolving fraudulent charges.
On Trustpilot, Albert doesn’t do so hot either. Nearly every customer review is negative, and many customers cite difficulties transferring money out of the Albert Cash account and long processing times for transfers and deposits. Albert notes that deposits can take between five to six business days for deposits to clear and about two to three days for withdrawals.
Many other negative reviews express frustrations in contacting a real person for customer support. The Albert customer phone line is automated and offers instructions on how to contact a support representative through the Albert app chat function. Many other customers report disappointment with the Albert Instant feature.
To get in contact with Albert customer support, you can:
- Text 639-37 for chat assistance
- Call automated phone line for support help or leave a voicemail: 844-891-9309
- Email support@albert.com
Savings account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.
Albert Cash is not currently available on Finder
Have you considered SoFi Checking and Savings?
Earn up to 4.20% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
- 0.50% APY on checking balance
- Up to 4.20% APY on savings
- $0 account or overdraft fees
- Get up to a $300 bonus with direct deposits of $5,000 or more
Your reviews
Bethany Finder
Editor, Banking
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