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Last Updated: 04/18/2025

Upgrade Premier Savings

from Upgrade Inc

Last Updated: 04/18/2025

Strongly recommended9 total votes

7 users recommend

1 users are unsure

1 users don't recommend

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Highlights

Community Rating

Strongly recommended

APY (Annual Percentage Yield)

4.14%(Verified 12/20/2024)

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Minimum Opening Deposit

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Minimum Balance to Earn APY

$1,000

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Number of Reviews

Upgrade Premier Savings Review

Upgrade Premier Savings is offered through 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

Up to $1 million in FDIC or NCUA insurance through Cross River Bank or Participating Institutions
Supports joint accounts. This allows two people to have equal authority over the management of an account.
High yield savings. This account offers an annual percentage yield of up to 4.14%, which is much higher than the average interest rate for a savings account. However, you must meet minimum balance requirements for higher APYs.
No minimum initial deposit. There is no minimum balance required to open an account online.

Upgrade Premier Savings Pros & Cons

Pros

Cons

Available in 50 states and Washington, DC.
High yield APY .
Access to a nationwide network of ATMs.

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 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 Average Balance to Avoid Monthly Service Fee

Minimum Balance to Earn APY

$1,000

Minimum Opening Deposit

What APY does Upgrade Premier Savings offer?

Upgrade Premier Savings offers an APY of 4.14% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.

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.
Nationwide ATM network - Conveniently transact at a nearby ATM.

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.

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 or overdraft 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 Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Upgrade, 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.

Message from Upgrade Premier Savings

Reach your goals faster with Premier Savings - A savings account to fit your ambitions and your life

Exceptional APY - Earn an exceptional APY on balances of $1000 or more. Start saving for your future now.

All the savings - No monthly account fees

24/7 access - Secure, 24/7 mobile access to your account

Contact

Headquarters

275 Battery Street

San Francisco, CA 94104

(844) 319-3909

Visit Site

Email Support

Hours of Operation

Sunday

6:00AM - 5:00PM

Monday

5:00AM - 7:00PM

Tuesday

5:00AM - 7:00PM

Wednesday

5:00AM - 7:00PM

Thursday

5:00AM - 7:00PM

Friday

5:00AM - 7:00PM

Saturday

6:00AM - 5:00PM

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SuperMoney Net Recommendation Score

SuperMoney users strongly recommend this product, giving it a user recommendation score of +67, or 4.3 on a 5-point rating scale.

+67

-1000+100

No one recommends

Everyone recommends

The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

Upgrade Premier Savings Community Reviews

Would you recommend Upgrade Premier Savings to your friends?

Shamim J.

Feb 20, 2024

May or may not recommend

Upgrade's Premier Savings account offers attractive features such as no monthly fees and the opportunity to earn a competitive APY of 4.81% with a minimum balance requirement of $1,000. Additionally, the account provides cashback rewards, including 2% cash back on select purchases with a monthly direct deposit of at least $1,000. Users can earn up to $500 in rewards per calendar year, making it a rewarding option for savers. Even ...Show More

Malliyah E.

Nov 2, 2023

May or may not recommend

Upgrade Premier Savings offers competitive interest rates and no monthly fees. With easy online access and a user-friendly interface, it's a convenient and reliable option for growing your savings.

Hina A.

Jul 15, 2023

May or may not recommend

Upgrade offers a Premier Savings account that has no monthly fees. While there is no minimum balance requirement for this account, you need a balance of at least $1,000 to earn the competitive 4.81% APY when the closing balance is less than $1,000, the account won’t earn interest. I also like their reward policy which is in the form of cashback. If you have a monthly direct deposit of at ...Show More

Emily D.

Jul 10, 2023

May or may not recommend

As an account holder of Upgrade's Premier Savings account, I have had an exceptionally positive experience that has transformed my approach to saving. From the moment I opened my account, Upgrade's commitment to providing a superior savings experience was evident. With an impressive APY of 4.81%, this account offers a highly competitive return on my hard-earned money, allowing my savings to grow at an accelerated pace. In this review, I ...Show More

Anonymous

Jun 7, 2023

May or may not recommend

They offered the best APY rate I was able to find and the best consumer experience.

Anonymous

Apr 12, 2023

May or may not recommend

No monthly fee and a 4.56% APY is amazing. There is a $1,000 minimum deposit to get that APY but that is reasonable when you compare it to what some major banks require for much lower returns.

Lashane H.

Jan 25, 2023

May or may not recommend

I'm a huge traveler so the fact that Im able to access my funds in 50 states makes me a happy camper.

Chizobam O.

Dec 5, 2022

May or may not recommend

Just like any other company, they provide no sign-up fee which I believe does not do much to make this company stand out. But some reasons why I do not recommend is not being able to withdraw money, their website being down, and lastly, if your account has a freeze, you cannot reapply. This company has a lot of work that needs to be done before putting itself out there.

Lisa C.

Dec 1, 2022

May or may not recommend

I just set up the Premier Savings account. Transferred some money from another account (very few are able to be linked), and found out that I could only transfer out a max of $5000 at a time, 3 times within a week. I would have not opened the account if that information was available. I talked to their customer service and they confirmed it. Said it was a new product ...Show More

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