Upgrade Everyday Savings (formerly Upgrade High Yield Savings)

Upgrade Everyday Savings (formerly Upgrade High Yield Savings) Review

Upgrade Everyday Savings (formerly Upgrade High Yield Savings) is no longer available to new customers on SuperMoney. Click here to compare Savings Accounts and quickly find the best options for your needs.

Upgrade Everyday Savings (formerly Upgrade High Yield Savings) 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 Everyday Savings are available in 50 states (and Washington, DC).

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.00%, which is much higher than the average interest rate for a savings account.
• No minimum initial deposit. There is no minimum balance required to open an account online.

Upgrade Everyday Savings Pros & Cons

Pros	Cons
Available in all 50 states. High variable APY. Free debit card	Does not provide access to a nationwide ATM network. No signup bonus.

Upgrade Everyday Savings FAQ

Are Upgrade Everyday Savings (formerly Upgrade High Yield Savings) deposits federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC) through Cross River Bank, Member 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.

Does Upgrade Inc offer a signup bonus?

Upgrade Everyday Savings doesn't offer a signup bonus.

What is the minimum initial deposit for Upgrade Everyday Savings?

There is no minimum deposit to open a Upgrade Everyday Savings.

Upgrade Everyday Savings (formerly Upgrade High Yield Savings) Minimums

Description
Minimum Balance to Avoid Monthly Fee	$0
Minimum Balance to Earn APY	$0
Minimum Direct Deposit to Avoid Monthly Fee	Starting at $0
Minimum Opening Deposit	$0

What APY does Upgrade Everyday Savings (formerly Upgrade High Yield Savings) offer?

Upgrade Everyday Savings offers an APY of 4.00% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Upgrade Everyday Savings charge?

Upgrade Everyday Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does Upgrade Everyday Savings offer?

This savings account includes the following features:

Can you set up a direct deposit to Upgrade Everyday Savings?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Upgrade Everyday Savings?

The customer support email for Upgrade Everyday Savings is support@upgrade.com.

What is the customer login page for Upgrade Everyday Savings?

This is the customer login page for Upgrade Everyday Savings.

How do people rate the customer service and user experience of Upgrade Everyday Savings?

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