Who Is Albert App for?
Albert app reviews all aspects of managing your money, from budgeting and automatic savings to instant cash advances.
In other words, this financial management software is ideal for individuals who want assistance managing their money. Albert is also useful for those just getting started investing.
With the Albert app, you can access your complete bank account information using only your smartphone. Just link your bank accounts to the app.
Albert employs the same security precautions as any respectable financial institution to secure your personal information.
While Albert isn’t a bank, it does offer banking services through Sutton Bank and the same protection. In fact, Albert’s accounts are FDIC-insured for up to $250,000.
What Is Albert App?
Albert is a financial advisory platform that provides various money management solutions. It was created as a one-stop shop for all your financial requirements. The company was founded in 2015 by Yinon Ravid and Andrzej Baraniak in Culver City, California.
Their main goal was to create an affordable and easy-to-use platform to help people achieve financial stability.
On that note, the Albert app allows consumers to talk with financial experts about money issues, develop a customized financial strategy, and automate their investments.
The company is backed by Financial Solutions Lab, General Atlantic, QED, CapitalG, and Portag3.
Next, in our Albert app review, we’ll talk about the application process. Creating an account on Albert is super easy and fast. All you have to do is:
- Download and install the app on your smartphone
- Register using your email address and password
- Set a secure 4-digit PIN
- Answer a few questions related to your financial situation to help Albert’s algorithm determine your financial needs
- Link your bank accounts. You can also add your credit cards, loans, and investments
To open an account, you must be at least 18 years old, a US citizen/resident, and have a bank account with a US financial institution.
How does the Albert app work, and what are its main features?
$150 Sign-up Bonus
If you make a qualifying direct deposit and use your Albert debit card, you may earn $150. However, this bonus is only accessible to those who meet specific criteria:
- You must make at least one qualifying direct deposit of $500 or more within 45 days of signing up and every 30 days for 90 days in a row.
- You must spend a minimum of $200 using your Albert debit card every 30 days throughout 90 days.
- You must fulfill all requirements within 150 days of signing up with Albert.
Once your application for Albert Cash is accepted, you’ll get Albert’s debit card. The card should arrive within 7–10 business days.
According to numerous Albert cash advance reviews, this account gives you access to checking accounts and direct deposits. It comes with zero minimum balance requirements and zero maintenance fees.
This service will help you get a handle on your spending by monitoring and categorizing all of your transactions. It will also analyze your linked accounts and assign categories to your expenses so you don’t overspend.
In addition, real-time notifications will notify you about recent purchases and current account balances.
Other benefits include:
- Getting your paycheck two days early with direct deposits
- Free ATM withdrawals for Genius subscribers
- Getting cash back when using your Albert cash card ($2.00 per tank of gas and $1.50 per fast food order)
If you subscribe to Genius, you’ll be able to buy stocks and themes by investing as little as $1. Plus, there are no trading fees. What’s best, Genius will create a custom portfolio to match your specific objectives and requirements. You may select an aggressive, moderate, or conservative risk profile.
You can also manage your account by yourself. This option will narrow your search so you can invest in stocks and ETFs that suit you the most.
Albert’s auto-investing tool will let you establish a timetable for withdrawing funds from your bank account to your portfolio.
Albert’s automated savings tool examines your earnings and expenditures by finding additional funds to save automatically. You can get one savings transfer each week for free ranging from $25 to $100.
On top of that, you can get bonuses for saving — 0.10% and 0.25% annual bonuses if you’re subscribed to Genius.
Albert instant cash is yet another beneficial feature that gives you up to $250 in cash advances when you make direct deposits into your linked bank account.
You get a maximum of three cash advances per pay period. Albert will take out the advance sum from your direct deposit once your payroll arrives.
There are no fees if you select the usual delivery speed (2–3 days). However, you can also opt for instant delivery for a small fee.
Next, in our Albert reviews, we’ll discuss the app’s most significant feature — Albert Genius. The Genius subscription has a minimum monthly cost of $6, after which you may pay whatever you think is reasonable (most members pay between $6 and $16 per month).
For the first 30 days, you’ll be able to use Albert Genius for free.
The Genius tool will help you:
- Find your missing savings
- Determine which bills you’re overpaying
- Assist you in reducing your debt sooner
- Save automatically
Apart from that, you’ll be able to reach out to an expert human financial counselor at any time. For example, if you want to know how many loans you can have and how to pay them off, you can ask Albert loan experts for step-by-step instructions.
Furthermore, if you opt for a yearly payment, you’ll earn a 0.25% bonus that will be added to your Albert savings account.
To sign up for Genius, you’ll need to:
- Go to your Albert profile
- Click the “Genius” button
- Select the “Upgrade to Genius” option
Once you’ve done this, you’ll have to choose your monthly subscription price.
You can cancel Albert Genius by:
- Opening your Profile tab
- Tapping on the Help icon
- Clicking on the Contact support and sending a text message ‘Cancel Genius’ to Albert’s support team at 639-37
However, if you cancel your Genius membership, you won’t automatically delete your account, nor will your Savings account be affected.
To summarize our Albert.com reviews, this money management app is perfect for people who want to find an all-in-one financial program. It comes with real-time notifications, a debit card, and an automatic savings option.
Plus, it offers investment advice that is personalized by humans.
On the other hand, if you’re searching for an application that covers only one aspect of your financial life, such as investing, consider downloading an app designed entirely for that purpose.
Pros & Cons
- Automatic savings option
- Human financial counselors
- Free 30-day trial for Genius subscription
- Cash advances up to $250
- $1 to begin commission-free investing
- Savings accounts yield is low
- Only available by app
Does Albert let you borrow money?
Yes, it does. You can request a $250 cash advance through Albert’s Instant feature. Albert Instant allows you to borrow three money advances every pay period. However, you must repay any outstanding loan before getting a new one.
Your cash advance limit will be based on your bank account age and history, spending habits, and direct deposits.
Is the Albert app legit and safe to use?
Yes, the Albert app is legit and safe to use. The company encrypts and securely transmits your information using SSL (Secure Sockets Layer), the same security protocol as major banks. Albert’s partner banks also offer FDIC-insured deposits for up to $250,000.
At the same time, your Albert Investments account funds are insured by the Securities Investor Protection Corporation (up to $500,000 in securities and $250,000 in cash).
Does Albert give you $100?
Albert will give you not a $100 but a $150 bonus for signing up. However, you must use your Albert debit card to make a direct deposit. Furthermore, within 45 days of signing up and every 30 days for 90 days in a row, you must make a direct deposit of at least $500.
You must also spend a minimum of $200 every 30 days throughout a 90-day period. And as we noted in our Albert app reviews, you must complete all criteria within 150 days of signing up to the Albert app.