Upgrade Premier Savings

Upgrade Premier Savings Review

Upgrade Premier 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 Premier 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 5.07%, which is much higher than the average interest rate for a savings account. However, you must keep a minimum balance of $1000 to earn that insterest rate.
• No minimum initial deposit. There is no minimum balance required to open an account online.

Upgrade Premier Savings Pros & Cons

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

Upgrade Premier Savings FAQ

Are Upgrade Premier 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 Premier Savings doesn't offer a signup bonus.

What is the minimum initial deposit for Upgrade Premier Savings?

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

Upgrade Premier Savings Minimums

Description
Minimum Balance to Avoid Monthly Fee	$0
Minimum Balance to Earn APY	$1,000
Minimum Direct Deposit to Avoid Monthly Fee	Starting at $0
Minimum Opening Deposit	$0

What APY does Upgrade Premier Savings offer?

Upgrade Premier Savings offers an APY of 5.07% (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 Premier Savings charge?

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

What features and perks does Upgrade Premier Savings offer?

This savings account includes the following features:

• Mobile Banking Services - Upgrade Premier Savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

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

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

What is the customer login page for Upgrade Premier Savings?

This is the customer login page for Upgrade Premier Savings.

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

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