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Upgrade Premier Savings

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Net Recommendation Score 0  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

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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0 users don't recommend
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Highlights
Community Rating

Rating not yet determined  

Monthly Fee $0
(Verified 11/16/2022)
APY (Annual Percentage Yield) 3.50%
(Verified 11/16/2022)
Minimum Balance to Earn APY $1,000

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 is 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 3.50%, 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.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card

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 3.50% (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 mostly recommended based on community reviews that rate customer service and user experience.

Upgrade Premier Savings Disclosure:

The Annual Percentage Yield (“APY”) for the Premier Savings account is variable and may change at any time. There is no minimum balance to open your account, but you will only earn the APY on days when the closing balance of your Premiere Savings account is or exceeds $1000. On days where the account closing balance drops below $1000, the APY will be 0%. There are no account fees, overdraft fees, or transfer fees associated with Premier Savings accounts. Upgrade is a financial technology company, not a bank. Premier 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.

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.

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 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
Monthly Fee $0
(Verified 11/16/2022)
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Account Features
  • Mobile Check Deposit
  • Interest Bearing Account
  • Mobile Banking
  • Member FDIC
APY (Annual Percentage Yield) 3.50%
(Verified 11/16/2022)

Upgrade Premier Savings Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

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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