Albert Review: For Those Who Want Their Financial Information Organized in One Place
Review
Updated
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Albert is a one-stop shop for saving, investing, and budgeting. You can do it all through the app, though after a 30-day free trial, you're on the hook for monthly fees. Find out whether it's worth the crunch, what the disadvantages of Albert are, and how it compares to similar budgeting apps.
Albert combines money management and budgeting under one roof. Basically, you get the perks of a bank, brokerage, and budgeting app rolled into one. Baked into these accounts are neat features you get automatically.
What you get:
FYI, some features are locked behind a premium Genius subscription. More below on the difference between a regular Albert and a premium Genius membership.
You open accounts on Albert and link to third-party accounts to track everything.
You start by linking all of your accounts to the app. Albert uses the same security measures as any major bank, keeping your financial information private. Once you've linked the app to your checking, savings, and investment accounts, it tracks your account balances and net worth. Most importantly, it keeps your finances organized.
You can bank and invest through the app. That said, Albert is not a bank, and all banking services are provided through FDIC-insured banking partners, which are actual banks.
Most personal finance apps offer either banking, investing, or budgeting. Albert gives you all three, and you can access everything with one app -- one interface to rule them all. No more flipping between apps to buy stocks, check your direct deposit, and create a rainy day fund. You can do it all on the Albert app. It's a huge perk, and a rare one at that.
Accounts you can open through Albert:
To use all the features of these accounts, you need a premium Genius membership, which reduces the utility somewhat. Premium will cost you an extra $60 per year.
A subscription with Genius gives you access to human financial advisors, available seven days a week to answer any financial questions you have. For example, if you're curious about how to pay off loans, save for a vacation, or open a college fund for your child, an expert can give you step-by-step directions. You can try Genius for free for 30 days.
If your funds tend to run low shortly before your next paycheck is due, Albert may advance you the money two days before your check is set to hit your account.
Albert analyzes your spending habits to learn where you can best save.
The app examines your spending and uses an algorithm to calculate how much money you can afford to save each week. It will then go a step further and set the money aside automatically, prioritizing your goals. For example, it may transfer 90% to a rainy day fund and 10% to a vacation fund.
The app can create a custom investment portfolio tailored to meet your specific goals. It can also offer you guidance through a team of human advisors. But if you'd prefer to go your own way, you can pick and choose individual investments.
Albert gives you access to fractional share trading. You can buy stocks for as little as $1.
Albert an help you find life, auto, home, and renters insurance through the app. It offers coverage discounts and connects you to policy options. The convenience of doing this in one place may make your life easier.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 3.80%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for CIT Platinum Savings
On CIT's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000+ for max APY
|
Earn a bonus of at least $225 after a one-time deposit of $25,000+.
Transfer a one-time deposit of $25,000-$49,999.99 for a bonus of $225. Transfer a one-time deposit of $50,000+ for a bonus of $300. Account must be opened with code PS2025 while this promotion lasts, and funded within 30 days. Bonus will be fulfilled within 60 days from the funding date. There is no period of time where the customer will be required to maintain the funds. Account must be open when bonus is credited. One bonus per account and primary customer. Bonus will be credited into the Platinum Savings Account that fulfills the funding requirement. Funding can be deposited all at once or incrementally.
|
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
Open Account for American Express® High Yield Savings
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.70%
Rate info
3.70% annual percentage yield as of April 12, 2025. Terms apply.
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
SoFi disclosure:
¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.
² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.
Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
Albert charges you a monthly fee after its 30-day trial. Most modern banking and brokerage apps don't charge monthly fees. The fee gets more expensive if you want to pay for Albert's premium membership perks, including a cash back debit card.
Not everyone is tech savvy, and it would be nice to have someone on the other end of a phone to walk you through any features or tech issues that you find confusing. You can text customer support -- I did, and a representative responded quickly -- but you might prefer a call instead.
The difference between the regular Albert vs. premium Genius subscription is confusing. Albert doesn't charge many fees, but it's very difficult to understand exactly what you're getting.
I even asked customer service for clarity, but I didn't receive a simple side-by-side comparison. Most competitors make it easy to discover what you're paying for. That a "modern" app like Albert doesn't do this is both off-putting and annoying.
The website isn't transparent about interest rates, either. It's difficult to tell what rate you'll get for opening a savings account, and whether your rate hinges on your premium membership.
Many users complain of difficulty closing accounts. That's partially due to Albert's account closure policy. You can't close your accounts until your balance is $0, but it can take days for your money to transfer out of Albert.
If you forget to disable Smart money features, Albert will automatically add more money to your account, forcing you to pause the service and restart the process -- and therefore spend even longer closing your account.
You can't easily close your account with a couple of taps. I asked customer service (via text) to help me close my account, and I was asked to answer a question beforehand ("why are you canceling"). Then the representative helpfully disabled automatic payments for me and told me how to deactivate my account, which I appreciated.
How to close your Albert account:
I recommend you go through a customer service agent to close your account so they can disable automatic transfers to Albert.
Since Albert charges a monthly subscription fee, time is money. That the app makes it difficult to close your account is not a good sign and could cost you.
Albert lets you tip the platform. Some users have done it by accident and regretted it. It's an odd feature for a personal finance app, and you may dislike it on principle. Now you know.
While you can select from a list of stocks and funds, the app doesn't support retirement plans.
Albert charges $9.99 per month, and $14.99 per month for premium Genius membership. The monthly fee is mandatory. Here's what you get for each membership tier:
Albert membership:
Genius membership:
Some Genius members will get additional perks, like Instant Overdraft Coverage, which lets you overdraft your checking account for between $25 to $250 with no penalty. This is something the app decides on an individual basis (you have to apply for the perk).
Other fees:
App store reviews are high, though recent reviews are mixed. The technology seems sound. The root of the mixed reviews is the fact that Albert used to be a freemium model, but it recently switched to paid.
A bunch of users are salty about suddenly being charged, and many describe difficulties with closing accounts. That said, some customers are very pleased with fast customer service.
Albert's app was clean and easy to navigate. My personal favorite feature was reaching out for help through text and getting responses in under five minutes. That said, you must go through a lot of tabs to connect all your relevant accounts. It feels a little overwhelming at first.
Albert app home account screen. Image source: Albert, captured by author.
Albert is a reasonably safe place to put your money. Your information is encrypted and transferred using SSL, the same security protocol used by the major financial institutions. Money in your bank accounts is FDIC insured through partner banks, and money in your brokerage account is protected by the SIPC, up to typical limits.
Albert's partner banks include Sutton Bank, Coastal Community Bank, and Wells Fargo.
If you want an app that does simple budgeting better: Rocket Money is a good alternative for anyone looking for a budgeting tool that can help reduce unwanted subscriptions, negotiate bills on your behalf, and monitor your credit. It's very easy to use, with a beautiful interface that prioritizes the things you care about most.
2025 Award Winner
If you want an app that does collaborative budgeting better: Monarch Money is a good alternative for anyone who already has a good handle on monthly payments and needs a robust, comprehensive, and customizable financial management tool. You can share access with partners and financial advisors.
2025 Award Winner
Take advantage of the free 30-day trial to familiarize yourself with all that Albert offers. Thirty days should give you enough time to determine how many features you'll make use of.
It may. If you're not tech-savvy or otherwise run into issues, the inability to call customer service may become a roadblock.
It all depends on how many Albert features you'll use. If you're using it as a basic budget planner, there are certainly cheaper options. If you'll milk all the features, and the app ends up saving you money, it could be a bargain.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
