Inexperienced Dot Company (NYSE: GDOT), a digital financial institution and fintech enabling highly effective banking and cost options for companies and shoppers, and Wealthfront, an industry-leading automated wealth administration supplier serving the following technology of buyers, have prolonged their partnership that gives seamless checking options and cash motion for Wealthfront’s award-winning Money Account.1
Wealthfront started partnering with Inexperienced Dot in 2020 to supply Money Account purchasers seamless entry to checking options. These options embody the flexibility to obtain direct deposits as much as two days early, pay payments, ship and deposit checks, and simply entry money at a nationwide community of ATMs via a debit card. The Wealthfront Money Account requires simply $1 to get began and comes with a 3.80% APY, zero account charges, limitless free transfers, automated saving options together with customizable money classes, near-instant transfers into Wealthfront’s Funding Accounts, and as much as $2 million in FDIC insurance coverage via accomplice banks.
“Immediately’s buyers need sensible saving and investing merchandise that assist them construct wealth in all market situations, which is why we’re proud to supply the Money Account to assist our purchasers earn extra on their uninvested financial savings,” stated Dave Myszewski, VP of Product at Wealthfront. “With one of many highest charges available on the market plus checking options powered by Inexperienced Dot, we’re in a position to present a best-in-class Money Account that’s far superior to what a standard financial institution can supply, so our purchasers can develop their long-term wealth simply and conveniently.”
In 2021, the variety of buyers utilizing robo-advisors like Wealthfront grew at a file charge, up 23.2 % from 2020, as younger buyers specifically regarded for extra accessible and inexpensive technique of rising their wealth. Wealthfront has seen robust development on its platform as millennial and Gen Z buyers have been drawn to its full suite of digital saving, investing, and borrowing companies.
Wealthfront purchasers are additionally more and more leveraging checking options supplied by Inexperienced Dot to seamlessly save right into a high-yield account that gives quick, quick access to money after they want it. Whether or not meaning direct depositing a portion of their paycheck to automate their financial savings, depositing checks straight to an interest-bearing account, or utilizing the account and routing numbers to pay payments and buddies, the Wealthfront Money Account helps purchasers maximize earnings on their uninvested money with out sacrificing flexibility or safety.
“Savvy shoppers demand extra handy monetary options that assist them construct their financial savings and make investments for the long run, and supply straightforward administration and understanding of money movement,” stated Amit Parikh, EVP, Banking Platform Providers at Inexperienced Dot. “We’re proud to accomplice with Wealthfront to energy shoppers with extra seamless, safe and helpful monetary instruments and experiences.”