Wealthfront


Reviews (7)

Easy To Work With, App Is Great

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I was skeptical but was very impressed with how smoothly everything went. And yes, they respond to emails which was equally important to me. The app is really nice and works very well, something I noticed is not always the case when working with the smaller banks. At 5% interest it's one of the top out there, just hope they can retain it.
Btw, if you're interested in signing up and getting a 0.5% interest rate boost, please use this link and it's a win-win for both of us!
https://www.wealthfront.com/c/affiliates/invited/AFFC-WR9I-MN9C-QMXZ

It's Been A Wonderful Experience So Far With The Cash Account.

Wealthfront is a fintech that does not have physical branches. Wealthfront is affiliated with Green Dot Bank. There is a mobile app and a website. You can make cash deposits at retailers in the U.S., including grocery stores, convenience stores, and pharmacies, and use its ATM network for withdrawals. When making a cash deposit at a store, you might incur a fee of up to 5.95 USD. You can use Venmo, CashApp, Paypal, Apple Pay, & Google Pay, Google Wallet, and Samsung Wallet.

You have to do it differently when sending or receiving wires. Ensure you follow the directions because it's completely different from an ACH with the steps you must take. The fee from outgoing domestic wires is 10 USD from Wealthfront. Incoming wires at this time are free, whether international or domestic. Same-day free withdrawals using the RTP network as long as you send them before 8 PM Central Time. Here is a list of current participating banks. https://www.theclearinghouse.org/payment-systems/rtp/rtp-participating-financial-institutions

1 USD minimum to open a cash account with checking features with no additional deposit requirements, fraud monitoring, no overdraft fees, no transfer fees, no minimum balance fees, use routing and account numbers to pay bills and with payment apps, early payday with direct deposit up to two days before your usual payday, FDIC Insurance up to 8 million with partner banks (up to 16 million on joint accounts with partner banks). https://www.wealthfront.com/cash-account-participant-banks

Currently, the base rate is 5.00% APY for the individual cash account with checking features. Right now, you can get boosted up to a rate of 5.50% APY for 3 months by using this link. https://www.wealthfront.com/c/affiliates/invited/AFFA-5OI0-16H4-8HA8
You can't already be a customer or affiliate of Wealthfront with its services or products, and you must fund your account within 30 days. Please do your due diligence and research online to know what you are getting into. I get paid once a month. In my second month, I got paid 7 days early.

Best HYSA In 2024 For 5.5% APY

Opened the cash account for over a month now and the overall experience was very smooth. I’ve deposited multiple large funds and transferred funds outside of the account with no problem. It’s a hybrid checking and savings account with no transfer limit and no lame account fees, so I can use it to pay bills and credit cards. Currently, they are offering 5.5% APY with this sign up link https://www.wealthfront.com/c/affiliates/invited/AFFB-PVIR-QE1G-RLJZ
The offer has been on for quite some time, so it’ll likely to be gone soon.

Great HYSA

Currently gives 5.0% APY for their HYSA, but it gets boosted up to 5.5% APY for a quarter if you sign up with below link. It's linked with Plaid, so you can easily transfer money into/out of Wealthfront and easily track from other net worth tracking service.

https://www.wealthfront.com/c/affiliates/invited/AFFB-2P8U-VWYV-SXB4

Solid Account With High Interest Rate

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I've been very happy with Wealthfront as a place to stash our down payment fund - interest rates rise regularly with the market (currently 5.1% - with the bonus - in June 2023). Website is clean and easy to use, and the couple times I've emailed the company with a question I've received a reply the same day.

To get the bonus interest rate hike you can use my link if you like (I get the same bump!): https://www.wealthfront.com/c/affiliates/invited/AFFA-7FG7-YS07-HZCQ

HYSA Cash Account - So Far So Good!

I opened a HYSA Cash account recently, so I can’t speak on the investment aspect, but so far so good! For reference, I also opened one with CIT Bank and although Wealthfront’s APY is slightly lower, it is much more transparent, professional, and user friendly. The app is almost fun to use and you can subdivide your savings into buckets just like Ally which is very conveniente when I’m trying to save for different goals. Transfers from my external account to Wealthfront are actually extremely quick, 24 hrs or less, although there’s been a hold on both of the transfers I made. Strangely, the slightly larger transfer has a hold of 7 days and the other 4 days. While this is really annoying, I do appreciate that the app is super transparent in telling you how many days it will be on hold. Also the fact that they do unlimited fee-free transfers is super convenient. Transfers out of the account should take 1-3 days although I don’t plan to withdraw so I haven’t tried yet.

I also tried emailing customer service (I don’t like that they don’t have a live chat feature tbh) and they were very quick and helpful in their response— so that makes me feel at ease in case I encounter any issues in the future.

All in all, I like that the app has all these extra features, and is easy to use. It’s definitely on par with the big HYSA providers (sofi, ally, etc.) with an above-average APY and good customer service.

If you wanna try it out and get an extra +0.5% for your first 3 months, that’s 5.3% as of August 2023, I’ll leave my affiliate code below :) Btw I also get the same +0.5% for 3 months so it’s a win-win if you choose to go with them.

https://www.wealthfront.com/c/affiliates/invited/AFFA-0XAU-KXIO-OD7I

Wealthfront Cash Account

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Wealthfront Cash Account reviewers seem to be unaware of restrictions WF imposes on "new accounts" when transferring funds between external banks. This is not surprising since WF doesn’t seem very forthcoming on these restrictions.

While WF Cash prominently advertises unlimited ACH withdrawals as one of its cash account features, when actually used, Wealthfront only permits ACH-Push withdrawals to the external account which originally funded the WF account. Withdrawals to other linked external accounts are "rewritten" by WF to direct withdrawals to the external account which funded the WF Cash account.

This essentially turns the WF Cash account into a no-penalty CD account rather than a useful financial management tool.

WF was vague as to how long these "new account" restrictions would remain in-effect for but cited timeframes in terms of "months".



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Wealthfront Savings Account Rates

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5.00%$0-Cash Account
Locations

Wealthfront is an Internet only bank and does not have branch locations. Its headquarters is located at 261 Hamilton Avenue - Palo Alto, CA 94301

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