Green Dot and Wealthfront Extend Relationship


Wealthfront is pleased to announce the extension of its partnership with Green Dot, a digital bank and provider of banking-as-a-service. The two companies originally teamed up in 2020 to provide Wealthfront’s Cash Account clients with access to checking features through Green Dot’s tools.

This week, Green Dot and Wealthfront revealed that they will continue their relationship. Wealthfront’s Cash Account, powered by Green Dot, offers a range of features including the ability to receive direct deposits up to two days early, pay bills, deposit and send checks, and access cash at ATMs with a debit card.

Wealthfront’s Cash Account also offers unlimited free transfers, automated savings, and the option to transfer funds almost instantly into Wealthfront’s Investment Accounts. Additionally, the Cash Account boasts a highly competitive annual percentage yield (APY) of 3.80%.

We’re able to provide a best-in-class Cash Account that is far superior to what a traditional bank can offer, so our clients can grow their long-term wealth easily and conveniently,” said Dave Myszewski, Wealthfront VP of Product.

Key Takeaways

  • Wealthfront and Green Dot have extended their partnership.
  • Green Dot powers Wealthfront’s Cash Account, a high-yield savings account that offers a 3.80% APY.
  • You can find Wealthfront’s Cash Account in all 50 states.

About Wealthfront

Wealthfront is a nextgen banking service. We help you manage your money for both your short-term and long-term goals by providing a Cash Account with checking features and high interest, best-in-class automated investment management, and free financial advice, anytime you want it. We entered into the banking space in a big way this year with the launch of our cash account that offers an interest rate 5x greater than the national average. We’ve been overwhelmed by the response and have grown nearly 100% this year already to manage nearly $20 billion in total client assets.

Our ultimate vision is to optimize and automate all of our clients’ finances and build what we call Self-Driving Money™?. We want clients to be able to automatically deposit their paycheck into their Wealthfront account, and let us take care of the rest — paying their bills, topping off their emergency fund or 401(k), and investing the rest based on their specific goals and lifestyle. Join us so you can help us turn this industry on its head and build a service that our clients don’t just like, they love.

About Green Dot

Founded in 1999 and headquartered in Pasadena, CA, Green Dot has served more than 33 million customers directly and many more through its banking partners, and now operates primarily as a “branchless bank” with more than 90,000 retail distribution locations nationwide. Green Dot is a financial technology and registered bank holding company focused on making modern banking and money movement accessible for all.

Our proprietary technology enables faster, more efficient electronic payments and money management, powering intuitive and seamless ways for people to spend, send, control and save their money. Through our retail and direct bank, we offer a suite of financial products to consumers and businesses including debit, prepaid, checking, credit and payroll cards, as well as robust money processing services, tax refunds, cash deposits and disbursements.