Empower is a free money management app for iOS and Android devices that helps you track all of your finances in a single location with a variety of tools and features available including automatic savings, expense categorization, bill management, money transfers, unwanted subscription cancelation, credit score tips and more.
In addition to helping you manage your money, Empower offers an interest-bearing checking account that provides a 0.25% APY with no fees or minimums.
Empower gives you access to personalized financial coaching and a smart AI assistant to help you reach your financial goals, including paying off student loans, saving for a new home, raising your credit score, and more.
About Empower Banking: 0.25% APY Interest Checking
- Earn 0.25% APY on All of Your Money.
- No Account Fees, No Minimums, and No Terms.
- No Foreign Transaction Fees.
- 25,000+ Free ATMs Nationwide.
- 1 Out-of-Network ATM Reimbursement Per Month.
- FDIC Insured up to $250,000.
After you sign up for the Empower App and gain access to the free money management features, you have the option to also open an Empower checking account by clicking the “Get Empower Banking” button under your Profile.
There are no monthly maintenance fees and no minimum deposit requirements for the Empower checking account and debit card.
All of the money that you put into your Empower account will earn a 0.25% APY that is compounded daily and paid out at the start of each month.
About Empower Money Management App
Empower helps you keep up to date with your finances, get personalized recommendations to help stretch your money further, and discover ways that you can save hundreds of dollars each year.
It’s absolutely free to create your Empower account and use their service by downloading their free app that is available for iOS or Android devices.
Empower supports over 10,000 U.S. bank, credit card, loan, investment, and 401(k) accounts, so you can manage all of your financial accounts in a single location.
Empower App Features and Services
- Check Account Balances and Track Your Spending.
- See Where Your Money Goes, with Expenses Automatically Categorized.
- Automatically Save to Build Wealth or Pay Down Credit Debt.
- Find a High-Interest Savings Account.
- Manage and Renegotiate Better Deals on Your Bills.
- Review and Cancel Unwanted Subscriptions.
- Transfer Money for Free between Any U.S. Bank Accounts.
- Pay Your Credit Card Bills Directly from the App.
- Get Personalized Advice for Protecting Your Credit Score.
Empower Review
Empower gives you a simple financial snapshot that allows you to see all of your account balances and track activity across bank, credit, loan, and retirement accounts.
All of your spending is automatically categorized by Empower, so that you can easily review your spending at any time using their Custom Reports.
Empower also helps you find “free money” and opportunities to save with the Empower Savings Checkup that analyzes your accounts for ways to save more money.
You can get additional savings by having Empower renegotiate your bills for you on your behalf, cancel unwanted subscriptions, or even open a high-interest savings account.
If you’re in debt, you can use Empower to set up automatic savings and pay down your debt with AutoSave, or find better loans and refinance to lower your interest rates.
You can even stay on top of your money without having to log in to your Empower account with intelligent notifications.
Empower uses state-of-the-art security measures like AES 256-bit encryption, multi-factor authentication, and PIN code to protect your account, and your sensitive personal information is fully encrypted using SSL.
You may also be interested in Personal Capital for an online way to manage all of your finances.
Take advantage of the Empower free money management app to control all of your financial accounts in a single location.
I have been using Empower for about 6 months. I have no complaints. The 3.3% APY interest rate is about the best you can find, up to $50,000, is exceptional. The account does come with a chipped Visa debit card, but I haven’t used mine. Their app is decent, but basic. I use my other bank to move money in and out of the Empower savings, as the savings and checking are ACH routing and account number enabled.