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Upgrade - Rewards Checking
in Checking Accounts from Upgrade Inc · Member FDIC
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Upgrade - Rewards Checking

Claimed
in Checking Accounts from Upgrade Inc · Member FDIC
SuperMoney Net Recommendation Score +60  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +60, equating to 4.2 on a 5 point rating scale.

+60

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

11 users recommend
2 users are unsure
2 users don't recommend
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Highlights
Community Rating Strongly recommended
Cashback Rewards 1% - 2%
APY (Annual Percentage Yield) 0%
(Verified 10/04/2022)
Monthly Fee $0
Minimum Balance to Avoid Monthly Fee $0
Number of Reviews 15

Upgrade - Rewards Checking Review

Upgrade - Rewards Checking is offered by Upgrade Inc, a nonbank financial services provider founded in 2016 and based in San Francisco, CA. It is made possible by a bank partnership with Cross River Bank, Member FDIC.  Upgrade VISA ® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.. Upgrade - Rewards Checking is available in 50 states (and Washington, DC).

Key Takeaways

  • Up to 2% cash back. Upgrade - Rewards Checking offers rewards on purchases (see terms and conditions for details).
  • 0% APY. As with most checking accounts, Upgrade - Rewards Checking does not pay interest.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. Upgrade - Rewards Checking does not charge fees on ATM transactions.
  • ATM fee rebates. This account will reimburse you for ATM fees (see terms and conditions for details).
  • Bill pay. Pay your bills to practically anyone in the United States through Upgrade Inc.

Upgrade Rewards Checking Pros & Cons

Pros Cons
  • Pair with a High Yield Savings account offering 2.50% APY
  • Available in all 50 states.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not earn interest
  • Online-only account with no access to physical branches.
  • Does not offer mobile check deposits.

Upgrade Rewards Checking FAQ

Are checking accounts from Upgrade Inc federally insured?

Yes, this account is insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Upgrade Rewards Checking offer?

Upgrade Rewards Checking is not an interest-bearing account.

What are the account minimums for Upgrade Rewards Checking?

Upgrade Rewards Checking does not require a minimum initial deposit.

Upgrade - Rewards Checking Minimums
Description
Minimum Opening Deposit $0
Minimum Balance to Avoid Monthly Fee $0
Minimum Direct Deposit to Avoid Monthly Fee $0

What fees does Upgrade Rewards Checking charge?

The good news is that this account does not have a monthly Service Charge.

Upgrade - Rewards Checking Fees
Description
Monthly Fee $0
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $0
Online Bill Pay Fee $0
Debit Card Replacement Fee $0

Does Upgrade Rewards Checking charge overdraft fees?

No, Upgrade Rewards Checking does not charge overdraft fees.

What features and perks does Upgrade Rewards Checking offer?

This account includes the following features:

  • ATM rebates - This account will reimburse you for any domestic ATM fees.
  • Fraud monitoring - Upgrade Rewards Checking monitors transactions for potentially unauthorized activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

What is the customer support email for Upgrade Rewards Checking?

The customer support email for Upgrade Rewards Checking is support@upgrade.com.

How do people rate the customer service and user experience of Upgrade Rewards Checking?

Overall, Upgrade Rewards Checking is strongly recommended based on community reviews that rate customer service and user experience.

Upgrade - Rewards Checking Disclosure:

Rewards Checking Disclaimer: There are no account fees, overdraft fees, annual fees, or transfer fees associated with Rewards Checking accounts. Rewards Checking charges no ATM fees, but third-party institutions may charge you a fee if you use their ATM/network or if you use your Upgrade VISA® Debit Card internationally. Upgrade will rebate any ATM fee charged by another institution for debit card withdrawals in the United States, up to five times per calendar month. To be eligible to receive third-party ATM fee rebates in any calendar month for eligible ATM withdrawals made during that month, customers must have (i) an open Rewards Checking account and (ii) either maintained an average daily balance in their account of at least $2,500 in the prior calendar month or made direct deposits into their account totaling at least $1,000 during the prior calendar month. As a courtesy to new customers, Upgrade will provide third-party ATM fee rebates for up to the first 2 calendar months after account opening regardless of account activity. Some limitations apply. Please refer to the applicable Cross River Bank Deposit Account Agreement and Upgrade VISA® Debit Card Agreement and Disclosures for more information.

Rewards Checking customers earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants, and bars - including deliveries - and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card charges. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card charges for the remainder of the year. Some limitations apply. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information.

The interest rate on a new loan or credit line through Upgrade may be up to 20% lower than would otherwise be applicable without this discount, as long as you have an active Rewards Checking Account. Other terms and conditions may apply. Please refer to the applicable Truth-in-Lending Disclosure and Loan Agreement.

High Yield Savings Disclaimer: The Annual Percentage Yield (“APY”) for the High Yield Savings account is variable and may change at any time. High Yield Savings account is only available to current customers with a Rewards Checking account through Upgrade.

Upgrade is a financial technology company, not a bank. Rewards Checking and High Yield Savings accounts are provided by Cross River Bank, Member FDIC. Upgrade VISA® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Personal Loans made by Upgrade’s bank partners. Personal Credit Lines are issued by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. The Upgrade Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

View Upgrade - Rewards Checking's published terms & conditions.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Upgrade Inc

Our goal is to offer an online and mobile banking experience that delivers exceptional value, including affordable loans and cards, and helps our customers make good financial decisions so they can build the future they want.

Upgrade’s founding team pioneered fintech 15 years ago. In 2017 we launched Upgrade to offer our users more value and a better experience than they receive from their traditional bank. In the last five years, over 15 million people have applied for an Upgrade Card or loan through Upgrade, and we have made over $15 billion in affordable and responsible credit available to our customers. Our innovative Upgrade Card combines the flexibility of a credit card with the low cost of an installment loan. Our latest offering, Rewards Checking, gives customers access to no-fee checking accounts with 2% cash back rewards on common everyday spending.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Minimum Opening Deposit $0
Minimum Balance to Avoid Monthly Fee $0
Minimum Direct Deposit to Avoid Monthly Fee $0
Monthly Fee $0
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $0
Online Bill Pay Fee $0
Debit Card Replacement Fee $0
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
Account Features
  • No ATM Fees
  • Free Bill Pay
  • No Monthly Maintenance Fee
  • ATM Reimbursement
  • Nationwide ATM Network
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Member FDIC
  • Online-Only Account
Cashback Rewards 1% - 2%
APY (Annual Percentage Yield) 0%
(Verified 10/04/2022)

Upgrade - Rewards Checking Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +60, equating to 4.2 on a 5 point rating scale.

+60

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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