Top 11 Crypto Savings Accounts [June 2021 Edition]

Jeremy Wagner
June 22, 2021

Earn between 3.20% and 12% APY on your crypto holdings.

Full disclosure: We may receive financial compensation when you click on links and are approved for products from our advertising partners. Opinions and product recommendations on APYGUY are those of our writers and have not been influenced, reviewed or approved by any advertiser. Learn more about how we make money.

Although Bitcoin was temporarily down below the $30,000 mark this June, many remain optimistic about its future. And if you own some cryptocurrency yourself, then you may be interested in a crypto savings account to give these holdings an added boost in earnings power.

These types of “savings accounts” are relatively new, as with crypto itself, but the rate of return is eye-catching and certainly puts the top yields issued by FDIC-insured banks to shame.

That said, while these products can be exciting, they do come with underlying risks that typical savings accounts offered by banks or credit unions do not. So, if you’re considering investing in cryptocurrency just for the high yield, then you may want to conduct further research to see if these digital currencies are right for you.

However, if you already own cryptocurrency and want to couple this with fantastic yields, then continue reading our comprehensive guide to the best crypto savings accounts on the market in 2021.

BlockFi – Best Overall

BONUS as of June 2021! Get up to a $250 crypto bonus with a deposit of $100 or more in crypto! Learn more here.

Plus, earn up to 8.6% APY (annual percentage yield) on stablecoins and 5% APY on bitcoin with BlockFi!

BlockFi is a crypto custodian that was founded in 2017 and just landed $350 million in funding (March 2021) which pegged the company at a $3 billion valuation!

This platform has exploded in growth since their inception and currently offers retail and institutional-facing products.

On the retail side of its platform, people can use its mobile app to earn a yield on their crypto holdings (6% on Bitcoin, 8.6% on stablecoins). You can currently earn impressive yields on the following:

BTC,
ETH,
LTC,
PAXG
USDC,
USDT,
GUSD,
PAX

The BlockFi interest account features rates up to 8.6% on stablecoins and 5% on bitcoin. Sign up here.

The lowest APY BlockFi offers is just 0.50% for deposits of 20 BTC or more. The more Bitcoin you deposit, the less interest you earn with BlockFi. Other cryptocurrencies feature flat rates from 5.0% to 8.60% APY.

BlockFi Complete APY Chart (APY = annual percentage yield).

Crytpo	Amount	APY
BTC (Tier 1)	0 – 0.5	5%
BTC (Tier 2)	0.5 – 20 BTC	2%
BTC (Tier 3)	20 BTC +	0.5%
LINK	0 +	4.5%
ETH (Tier 1)	0 – 15 ETH	4.5%
ETH (Tier 2)	15 – 1000 ETH	2%
ETH (Tier 3)	1,000 ETH or more	0.5%
LTC	0 +	5.5%
USDC	0 +	8.6%
GUSD	0 +	8.6%
PAX	0 +	8.6%
PAXG	0 +	4%
USDT	0 +	9.3%
BUSD	0 +	8.6%

You can learn more about how BlockFi’s interest works on their website, but in a nutshell they generate interest by lending your assets to trusted institutional and corporate borrowers for a certain period of time. They only lend the crypto on over-collateralized terms with an automated risk management system that monitors positions 24/7.

Coinbase – Best for Newbies Holding USD Coins

Earn up to 1.25% on USD coins.

Coinbase is one of the most well recognized brand names for holding and trading cryptocurrency.

The coinbase digital wallet lets users earn up to 1.25% on their idle USD coins while you wait to make new trades. You also have less restrictions when it comes to withdrawing funds in your Coinbase digital wallet as Coinbase doesn’t loan your USD coins out to borrowers.

Celsius Network – Best for High Yield + Sign Up Bonuses

The Celsius Network offers noteworthy yields and even sign up bonuses, however, the very best rates can not be attained by U.S. residents.

Celsius has a loyalty rewards program that pays rewards in tiers with its own native currency (the CEL token). Those in the rewards program have access to Celsius’s highest rate of 17.78% however, the rewards program is not currently offered to U.S. residents. We will update this post when/if that changes.

APYs for U.S. residents range from 2.50% to 17.78% APY.

There are no minimum deposit requirements and interest payments are made weekly.

There’s currently a $40 bitcoin sign up bonus for new customers too! Download the app here for the bonus.

Here’s what to do once you download the app: Use the promo code WEB40 to get $40 in Bitcoin after transferring $200 or more in crypto to your Celsius wallet and holding it there for at least 30 days. Minimum of $200 must be transferred in 1 transaction.

Linus – Best for Liquidity

Earn up to 4.50% APY + withdraw funds at any time with Linus.

If you’re looking for a solid rate plus easy access to your funds and limited withdrawal restrictions then Linus might be your best bet.

Many crypto savings accounts come with fees or restrictions when you attempt to withdraw funds prior to a specific date. This is not the case with Linus. Linus differentiates itself by allowing their customers to withdraw funds at any time, penalty free. If you need help, humans are available via online chat.

Linus provides an interest rate of 4.50% APY on your crypto stash. Linus generates interest by lending your assets to borrowers via smart contracts.

Crypto.com – Best for Cryptocurrency Diversity

Earn between 3.0% and 14% APY with Crypto.com.

If you hold some cryptocurrencies that aren’t the major household names and would like to earn interest on your holdings, then Crypto.com might be a good place to look. They currently offer great interest rates on the widest range of cryptocurrencies which currently feature 26 cryptocurrencies and 8 stablecoins.

You can earn a phenomenal APY of up to 13% on stablecoins and 6.5% APY on cornerstone cryptocurrencies like bitcoin. Simple daily interest is applied and deposited into your account weekly. Rates depend on the term of your deposit which can be flexible (you can withdraw anytime) up to 3 months long.

Nexo – Best for Rapid Payments

Earn up to 12% APY (paid daily) with Nexo.

Nexo’s claim to fame is limited lock-up times of just 24 hours or less. That means your interest payments are paid out daily.

Nexo has already racked up over 1 million users since its inception in 2017.

Nexo also has $100 million in insurance on all custodial assets.

There are no monthly fees or minimum deposit requirements to open an account.

Outlet Finance – Best for Dealing in US Dollars

If you do not study cryptocurrency trends but still want to dabble in the space and earn a handsome return while you do it, then Outlet Finance may be your best option.

You don’t need to know much about Crypto with this platform as they deal with U.S. dollars. Users deposit funds in USD and users earn interest in USD.

How it works: Outlet Finance converts your investment to stablecoin and then connects it with their overcollateralized lending partners, matching it with the highest yield.

Overcollateralized means their partners must put up 120% of their loan request. In the event that they default, this gets liquidated to pay the investor (you) which helps mitigate your risk.

The company advertises APYs up to 9%.

YouHodler – Jack of All Trades

YouHodler is a Swiss company that gets its name from the playful misspelling of the word “HOLD” which later utilized the acronym “Hold On for Dear Life” and was adopted by the investment community as a term to ‘hold’ or not sell your investment.

It makes sense then that YouHodler is designed to help long term crypto holders get additional earnings from their holdings.

YouHodler boasts yields between 3% and 12% depending on currency and investors can get started with as little as $100.

We awarded this platform with the Jack of All Trades title because it excels in most categories consumers care about: 1. Access to funds / liquidity. 2. High paying yields. 3. Diversity of coins accepted. Savings accounts and exceptional APYs are offered on 22 cryptocurrencies currently with YouHodler.

Interest payments are paid every week.

Gemini – Best for Security

Gemini claims to be operating with a security-first mentality since day 1.

Once you deposit your crypto with Gemini the majority of it is held in their “offline, air-gapped cold storage system” which helps prevent theft by hackers and/or malware. Only a small portion of your deposited crypto will be held in their online “hot wallet” and it is insured. You can get a full rundown of their security measures here.

APYs range from 1.54% to 7.40% depending on currency.

Interest is paid daily.

CoinLoan – Security and Safety Runner-Up

CoinLoan is an Estonian firm that specializes in security and safety like Gemini.

They also do a great job in supporting a wide range of cryptocurrencies, which currently sits at 17.

Their APYs range from 5% to 12.3% depending on cryptocurrency.

There are no minimum deposit requirements and interest is paid monthly.

Hodlnaut – Runner-up for Liquidity

Hodlnaut is another play on words with the term HODL, which is a common misspelling for HOLD plus the word Astronaut, to get Hodlnaut.

They are based out of Singapore and only accept deposits in 5 cryptocurrencies currently. These are BTC, DAI, ETH, USDC and USDT.

Hodlnaut does not currently hold any regulatory licenses in Singapore but is applying for them under the new regime. Visit their FAQ section to read more.

Interest is paid out weekly, every Monday.

APYs range from 6.2% to 10.5% depending on cryptocurrency.

What are Crypto-Based Savings Accounts

Before you open a crypto-based savings account it is probably a good idea to fully understand what these products are and how they differ from traditional savings accounts.

First, these accounts provide a yield on your crypto holdings, not U.S. dollars. There are several crypto banks offering fantastic APYs (annual percentage yields) on the USDC coin which is pinned to the U.S. dollar and generally trades in parallel, but it is not the actual USD.

In fact, these accounts should be viewed as investments rather than savings accounts, because that is really what they are at their core.

You invest in crypto currency and then lend out your keys to a third party in exchange for interest.

The precise activities going on under the hood with your crypto keys vary depending on which platform and account you choose.

We’ll touch on the mechanics and risks to these investments further on, but first, aside from the high interest rate, let’s look at some of the positive impacts crypto savings accounts are having to the overall cryptocurrency economy.

For starters, it’s an automated way to grow crypto portfolios over time. For example, if you are already fully invested in bitcoin, you can deposit that bitcoin into a crypto savings account and earn additional interest paid in bitcoin.

Also, crypto savings accounts continue to be an on-ramp for getting people to deposit their USD, CAD, AUD, and GBPs and convert them into a crypto savings account. By drawing in more participants to the crypto economy, greater liquidity can be attained leading to eventual price stability for the new asset.

Also, long time holders of crypto are incentivized to move their crypto out of storage and into the markets facilitating adoption and helping innovate new use cases for crypto.

In the end, interest rates are important in financial markets because they fill the gap between people with surplus assets they can’t use and the people who need the assets because they have a productive use. High interest rates being offered can be seen as demand for the underlying crypto assets.

How Much Can You Earn with Crypto-Based Savings Accounts

There are two main factors that are going to affect your overall earnings (or losses) from a crypto-based savings account:

The cryptocurrency’s price in U.S. dollars.
Interest rate paid on your crypto savings account(s).

The first main factor is likely going to be the biggest variable in determining your overall gains or losses. This becomes a bigger risk if you hold your savings account for a long period of time.

Cryptocurrencies are highly volatile, un-regulated, risky investments that are not backed by the government like standard currencies are. Therefore, if the cryptocurrency you are holding in your savings account goes down in value while your crypto savings account is active, it is quite possible to lose a portion of your principal.

This is a similar concept we discussed with the inherent risks of foreign currency CDs, where a great interest rate can be negated entirely if the currency you are holding goes down in value against the U.S. dollar.

The second variable is APY paid on your crypto savings. This varies widely on a number of factors.

Currently some of the top crypto banks outlined in this article are paying between 3.2% and 12.0% APY. To put this in perspective, the average savings account yield sits at just 0.05% APY according to recent FDIC data.

Who are these providers I’m lending my keys out to?

Exchanges and lenders are the businesses who take your keys and lend your crypto assets to others. These institutions will loan out the crypto assets to other borrowers who may be individuals or institutions who need liquidity and don’t want to sell their cryptocurrency. Most traditional banks are unwilling to take crypto assets as collateral for a loan which has opened the door for these exchanges and crypto lenders.

Currently, interest rates are relatively high as users can earn up to 12% in some cases. Additionally, by offering the high yield it helps attract and on-board more people into the crypto economy. This is because in order to earn the high rate of interest, you need to convert your fiat currency over into bitcoin or another cryptocurrency to get started.

That high rate of return has likely succeeded in attracting more people into the crypto economy. According to Statistia, 20 million bitcoin wallets were created from February 2020 to January 2021. This represents a 43% increase from the number of wallets a year ago.

Why would a business want to borrow at 8-12% annual interest?

It is great that savers like us get to benefit from earning a high interest rate. Who would be willing to pay 8-12% annual to borrow the cryptocurrencies?

Institutions are a large driver of crypto borrowing. If they have a mismatch on the timing of their debits and credits, they can park collateral with the lender, then pull out a short-term crypto loan to fund the mismatch.

Market makers and crypto dealers are a great example of this. If you make a large buy order of bitcoin, the market maker or dealer probably does not have bitcoin as it is highly unlikely somebody else is selling to them that exact amount at that same time. These market makers want to be neutral and not be exposed to a directional risk in bitcoin.

Therefore, they will take on a short-term loan of bitcoin until sell orders come in. At that point, they will repay the loan back with their new sell orders from their clients.

As another example, one of the benefits of cryptocurrency investment is the decentralized marketplace. There are many different places you can go to buy, sell, and exchange your crypto.

As a result, the pricing of bitcoin (and other cryptocurrencies) may not be EXACTLY the same and might vary by 1% or so at each of these venues. Arbitrage traders will look to profit from the difference in pricing from the various locations.

However, those arbitrage traders might not have the right cryptocurrency located at the venue where the mismatch occurs. Therefore, these traders would take on a short-term loan in their needed cryptocurrency to take advantage of those pricing dislocations.

The amount of interest the arbitrage traders pay in a year might be earned through their business in a few short weeks. Even though 8-12% of interest payable per year sounds like a lot, some business models are happy to pay for it which is to the saver’s benefit!

Lastly, some investors who feel the price appreciation of bitcoin or ethereum will be multiples greater than the 8-10% of interest they pay. As a result, they will consider depositing their crypto as collateral, then taking a US dollar loan out. They will then turn around and buy more crypto with the US dollars lent to them. As you can imagine, that is a risky move as you would be betting on the crypto you are purchasing will be more valuable later when you repay the loan. That is not always going to be the case.

Risks Associated with Crypto Savings Accounts

Though a crypto-based savings account has its benefits, there are risks of loss to investing in it. Let’s explore seven risks associated with these investments.

Exchange Rate Risk

Risk that the value of the underlying crypto goes down relative to your base currency (USD, GBP, etc). The value of a cryptocurrency is not backed by the government and is not legal tender. Additionally, the accounts to where the crypto is placed to earn interest are not subject to FDIC, SIPC, or other guarantees. If something happens to that cryptocurrency that would cause it to lose its underlying value, then you would lose your principal invested amount.

There are several different types of cryptocurrencies to earn interest on. The value of cryptocurrencies like bitcoin and ethereum are volatile and can easily lose their value quickly. Many crypto savings accounts pay their interest in crypto so not only is your underlying principal losing value, but the interest you are earning has less real value too. Of course, the opposite of that is true when you have an appreciating underlying asset.

As a result of volatile valuations, savors like to use stablecoins in their crypto savings accounts.

Risk of the Stablecoin Peg Breaking

Stablecoins are designed to hold a stable relative value to another asset, like the US dollar. If the stablecoin cannot hold its value relative to the assigned asset, then investors would lose trust in the stablecoin causing its value to potentially collapse.

It is important to note that not all stablecoins were created equal. Some stablecoins are centrally managed and promise to have US dollars locked away, in a vault with regular audits completed.

Other stablecoins are decentralized and are managed by computers and computer code rather than humans. It could be argued that each of these types of stablecoins bears their own unique risks.

In the former, the central institution could break their promise and mismanage the business causing the peg to the US dollar to break. In the case of the latter, an error in the coding could be discovered in the future that causes a break of the peg against the US dollar.

In case there is a break in the peg, investment may flee that stablecoin potentially causing loss of principal.

Lock Up Risk

Some crypto savings accounts are very flexible where you can withdraw at any time. Other crypto interest accounts may have lock up periods or additional fees for excessive withdrawal activity. Generally speaking, the more restrictive accounts will offer the higher interest rate while the more flexible accounts tend to offer the lower interest rates. Make sure to ask questions about a lock up period, withdrawal restrictions, and any additional fees before committing.

Pledge Risk

You no longer control the crypto and are pledging it as collateral. For example, when you deposit at a bank you are staking a claim to a bank’s liability. It is a similar situation with the crypto savings account (minus the government protections). If the crypto provider goes under due to a mismanagement of their business or an adverse market event, you will not be able to get your bitcoin or cryptocurrency back. This is because when you deposit the crypto into the savings account, you no longer own the crypto.

Loan Default Risk

If the value of the collateral backing the loan falls and is insufficient to pay back the lender, the load could be defaulted upon. Though this is a real risk, most crypto loans tend to be overcollateralized which greatly reduces the risk.

In other words, it is common for borrowers to maintain collateral equal to 150% of the loan amount. Therefore, if the value of the collateral decreases due to adverse market conditions, there is typically enough cushion to support the loan. It gives the borrower time to repay the loan or for the loaner to liquidate the position on the open market. The loan default risk could come into play if a rally harsh market correction drove the value of cryptocurrencies very low very fast. In essence, markets would have to crash 50% in a matter of minutes what hasn’t happened…yet.

Risk of Custodian Hack

A large risk factor is if the lending company’s custody provider (where the assets are stored) gets hacked. If you are utilizing an exchange’s crypto savings account, it is possible that a theft could occur due to a hack at their custodian.

Many people who are new to cryptocurrency are afraid of the blockchain getting hacked. However, the risk of a hack is not actually to the blockchain, but rather the institution’s security (or smart contract, see below) which is different from the blockchain.

It is important to understand that the ‘hack’ risk is increased when you are dealing with a newer institution or an institution whose investment in security is not as strong as others.

Typically, institutions that have been around longer tend to be stronger as they have stood the test of time.

Smart Contract Risk

Decentralized finance (Defi) lenders use automated coding called smart contracts to loan and allocate capital. This coding is viewable by everyone so it is quite transparent. Everyone is incentivized to make sure the coding is solid.

However, a previously undiscovered error in a smart contract may open the door for a hacker to find their way in. For example, a loophole in the code may cause the lender to lose the funds.

This has some similarities to the custodian hack risk as newer untested lenders may not have had their smart contracts battle tested. Though not exempt from the risk, lenders who have been around longer and whose products have stood the test of time are generally less likely to be exposed.

Crypto Savings VS Traditional Savings

Despite having the name ‘savings account’ in their title, crypto-based savings accounts have some very distinct differences from traditional savings accounts.

Above, we have touched on some unique qualities and risks to crypto-based savings. Below, we’ve outlined a side-by-side comparison.

	Traditional Savings	Crypto Savings
FDIC Insurance	Yes	No
Withdrawal Allowance	Generally unlimited	Can be Limited
Interest Calculation	Usually Compound	Usually Simple
Interest Deposited Best APY	Monthly ~0.3%	Daily or Weekly ~12.0%

FDIC Insurance

Variable rate deposit accounts including savings accounts, checking accounts and money market accounts opened with traditional banks or credit unions come with FDIC insurance (or NCUA insurance for credit unions) that protect your funds in the case of institutional insolvency while your money is held there.

FDIC and NCUA insurance cover deposits up to $250,000 per individual or $500,000 on joint accounts.

This is not the case with crypto-based savings accounts where it is possible to lose money – both interest and principal. Crypto investments are not covered by government insurance and are not considered legal tender.

However, many crypto institutions will provide insurance for certain risks of loss. Unfortunately, the biggest risk to loss is the exchange rate risk, which is uninsured. The exchange rate risk is why many crypto-based savers utilize stablecoins as they pin the value of the cryptocurrency to a standard fiat based currency (for example – USD, CAD, AUD, GBP).

Withdraw Limits

Per federal regulation D, variable rate deposit accounts at banks and credit unions no longer have limits to the number of transfers as of April 2020. The previous limit of 6 transfers was lifted in April 2020 as Covid-19 caused millions of Americans to lose their jobs, struggle to pay bills and needed to draw upon their savings in a time of crisis. Double check with your institution so you know what their limitations are so as to avoid excess transaction fees.

Crypto savings accounts, on the other hand, can have tighter restrictions on withdrawing funds. Some crypto-based deposits are contractual and you have to keep your deposit on hand for a certain time period limiting your ability to withdraw. Other crypto-based deposits may be flexible, but offer a lower rate of return for that flexibility. Lastly, some institutions charge set up fees too.

As crypto-based savings accounts are a relatively new product, regulation surrounding them hasn’t been established so check with the institution regarding their limitations and fees before making your deposit.

Interest Calculations and Interest Deposits

Another major difference in these accounts is how interest is calculated and when your interest gets deposited.

Most banks and credit unions compound interest daily, weekly or monthly on your deposits. Compounding interest allows for the interest you’ve accrued to also earn interest.

With crypto-based savings accounts however, simple interest is generally applied. That means your initial principal is the amount to which interest calculations are made.

One interesting advantage to crypto-based savings accounts is that many institutions actually deposit your interest in shorter time increments like daily or weekly rather than one interest deposit per month seen by banks and credit unions. This quicker release of the interest allows you to put it to use more quickly.

Final Thoughts

If you already hold cryptocurrencies, then moving your funds into an interest bearing account is a great strategy to earn while you hold.

That said, if you’re considering investing in cryptocurrency because of the enticing APYs you see on the savings side, be sure you fully understand the inherent risk of these highly volatile digital currencies.

You’ll also want to study each account and crypto bank carefully as terms and conditions, interest rates, minimum deposits, types of cryptocurrencies needed and lock-up periods vary widely from account to account.

If you’re typically a conservative saver that generally invests in traditional CDs, savings accounts, money market accounts and the like, then these accounts probably aren’t going to be for you. They are also not a wise place to stash emergency funds or any funds you may need to convert to cash quickly.

Also keep in mind these are variable rate accounts that are subject to change at any time without notice.

Stansberry Research Review: Is it legit & worth paying for

Rachel Morey
June 22, 2021

Stansberry & Associates publishes several research newsletters designed to help you choose large-cap stocks. Many financial and investing experts recommend using large-cap stocks to balance the risk of investing in small and mid-cap stocks.

Large-cap stocks are widely regarded as stable investments, so the percentage of your portfolio you devote to these stocks depends on your risk tolerance.

Sainsbury’s collection of newsletters includes investment recommendations paired with compelling arguments for why you should buy a particular stock.

What is Stansberry Research?

Stansberry Research is a privately owned publishing company founded in 1999 by Frank Porter Stansberry with headquarters in Baltimore, Maryland. Its parent company, The Agora, also owns Common Sense Publishing, FSP Financial Services, Port Phillip Publishing, and Fleet Street Publications. The company currently publishes hundreds of newsletters each year. Bill Bonner, owner of The Agora, is a leader in the field of persuasive copywriting.

Stansberry Research Podcast: Free Stock Picking Advice

Before you pay for Stansberry’s research, listen to the Stansberry Investor Hour podcast to get a feel for the tone and depth of research you can expect from a paid subscription. Dan Ferris interviews guests with specialized knowledge of the current economic climate. He covers dynamic topics like inflation, how to find gains in resource stocks, and how to find long-term trends among inflated valuations.

Stansberry Investor Hour is available on Apple Podcasts.

Are Stansberry Research Stock Picks Any Good?

Yes. Stansberry Research chooses worthwhile stocks targeted at certain investment styles. The company is also well known for providing market and industry commentary to help investors understand how the economic environment may influence individual stock performance.

Stansberry Research’s stock picks may work for you if:

You classify yourself as a passive investor with a long-term strategy; Stansberry Research doesn’t make recommendations designed for day traders.
Your personal financial situation allows you to invest in single stocks without fear that you’ll go broke, even if the stock doesn’t do well.
You have a portfolio of at least $20,000 to help justify the cost of a subscription to one of the Stansberry Research newsletters.
You have some experience investing and are comfortable with the fact that you may lose money in the stock market.

Details About Stansberry Research Subscription Services

You can choose from three newsletter subscription tiers to get recommendations from the Specialized Investment Research team at Stansberry Research.

The Total Portfolio

Designed to be a conservative portfolio less volatile than the S&P500.

The Total Portfolio includes about 40 recommendations ranging from safe income stocks to riskier small cap investments. This newsletter is positioned as advice for those seeking “the ultimate commitment to their financial future.”

Results:

81% gains: company benefiting from housing market recovery
76% gains: firm specializing in virtual reality and cloud computing microchips
89% gains: Chinese social media company

Overview:

Number of positions: ~40
Safety: Conservative
Publishing frequency: Monthly
Recommended amount of capital to get started: $100,000
Typical holding period: One to three years

Membership includes: An “all-access pass” to a model portfolio based on the best ideas from Stansberry Research. You’ll get lifetime access to all underlying research behind each of Stansberry Research’s 12 most popular services. This newsletter suggests the exact number of shares to purchase for every $100,000 invested.

The subscription also includes The Capital Portfolio and The Income Portfolio.

With a Total Portfolio subscription, you’ll get access to Stansberry publications including True Wealth, Retirement Millionaire, Commodity Supercycles, Stansberry’s Investment Advisory, Extreme Value, Stansberry Gold & Silver Investor, Income Intelligence, Stansberry’s Credit Opportunities, Stansberry’s Big Trade, True Wealth Opportunities: Chian, True Wealth Opportunities: Commodities, Retirement Trader, True Wealth Systems, and Cannabis Capitalist.

Price for new subscribers: The Total Portfolio can not be purchased online. If you are interested in learning more, please call (888) 863-9356 to speak with a customer service representative.

The Income Portfolio

Combining high quality dividend-paying stocks with high-yielding corporate bonds and hybrid securities to offer you outstanding yields.

The Income Portfolio includes advice designed to help you invest to generate extra monthly income. This newsletter provides retirees and those who want to retire soon with 20-30 stock recommendations including bond funds, income-generating stocks, and fixed income bonds. The goal of this newsletter is to help you keep your investments safe while providing reliable income from a low-risk investment portfolio.

Results:

10 different open positions in The Income Portfolio have reached double-digit gains in fewer than 12 months.
4.5% yield: real estate owner with a 21-year history of paying monthly
5.1% yield: fastest growing healthcare real estate investment trust (REIT)
6.3% yield: alternative-asset manager that’s a leader in private equity

Overview:

Number of positions: 20-30
Safety: Conservative
Publishing frequency: Monthly
Recommended amount of capital to get started: $100,000
Typical holding period: One to three years

The subscription also includes The Capital Portfolio and The Income Portfolio.

With a Total Portfolio subscription, you’ll get access to recommendations pulled from Stansberry publications, including True Wealth, Retirement Millionaire, Commodity Supercycles, Stansberry’s Investment Advisory, Extreme Value, Stansberry Gold & Silver Investor, Income Intelligence, Stansberry’s Credit Opportunities, Stansberry’s Big Trade, True Wealth Opportunities: Chian, True Wealth Opportunities: Commodities, Retirement Trader, True Wealth Systems, and Cannabis Capitalist.

Price for new subscribers: The Income Portfolio can not be purchased online. If you are interested in learning more, please call (888) 863-9356 to speak with a customer service representative.

The Capital Portfolio

This is a modern “blue chip” portfolio with the highest quality companies in the world.

The Capital Portfolio contains 20 of the highest conviction ideas from Stansberry Research. These U.S.-listed stocks and ETFs are easy to buy and designed to beat the market while providing investors with maximum capital gains.

Results: The Capital Portfolio outpaced the S&P 500 in 2017, producing 27% gains.

Ralph Lauren Corp. (RL) with an annualized return of 134% within a month of being recommended by Porter.
Karne Shares CSI China Fund (KWEB) beat the Dow by more than 2-to-1.
NVR Inc. (NVR) beat the Dow by 4-to-1 with a 106% annualized gain.

Overview:

Number of positions: 23-30
Safety: Conservative
Publishing frequency: Monthly
Recommended amount of capital to get started: $100,000
Typical holding period: One to three years

Membership includes: Access to the 20+ investment position portfolio, monthly newsletter update, and Stansberry NewsWire. You’ll also get access to True Wealth, Retirement Millionaire, Stansberry’s Investment Advisory, Commodity Supercycles, Extreme Value, and Stansberry Gold & Silver Investor.

Price for new subscribers: The Capital Portfolio can not be purchased online. If you are interested in learning more, please call (888) 863-9356 to speak with a customer service representative.

Macro-Level Services

Stansberry’s Investment Advisory

How to make money from the most promising emerging stocks including tech and energy investments. The newsletter also includes information about which stocks to avoid. You’ll get subscriber-only reports that include information about how to buy the most sought-after stocks.

Stansberry’s Investment Advisory Newsletter Basics

Number of positions: ~20-30
Safety: Conservative
Publishing frequency: Monthly on the first Friday
Recommended amount of capital to get started: ~$1,000
Typical holding period: Minimum of one year
Price: $199 per year
Trial Subscription: 30-days
Price: $199 for one year

True Wealth

Edited by Steve Sjuggerud with recommendations by lead analyst Brett Eversole, True Wealth is a newsletter that helps investors choose valuable assets during times when they aren’t in demand. Dr. Sjuggerdund told subscribers they would be wise to buy gold in 2002 at the price of $320 per ounce.

True Wealth Newsletter Basics

Number of positions: ~25
Safety: Conservative
Publishing frequency: Third Friday of each month with occasional email updates
Recommended amount of capital to get started: $1,000 minimum
Typical holding period: One year
Price: $199 per year
Trial Subscription: 30-days

Retirement Millionaire

Dr. David Eifrig Jr., MD, MBA, is the editor for Retirement Millionaire. This newsletter offers advice on how to live the lifestyle of a millionaire for less money than you’d think you need. This newsletter is ideal for beginning investors, those planning to retire soon, and retirees.

Retirement Millionaire Newsletter Basics

Safety: Conservative
Publishing frequency: Second Wednesday of each month with occasional email updates
Recommended amount of capital to get started: $1,000
Typical holding period: Minimum of two years
Price: $199 per year
Trial Subscription: 30-days

Extreme Value

For a steady stream of stock recommendations that include the safest stocks at steep discounts, look no further than the Extreme Value newsletter. Dan Ferris’s strategy, covered extensively in Barron’s, is to buy only safe and cheap stocks at an excellent price. His track record is one of the best in the industry, and he shares his best advice here. Extreme Value launched in 2002, and Dan’s readers have made some impressive purchases with his direction:

Super-safe stocks recommended by Dan:

Alexander & Baldwin
International Royalty
Encana
Portfolio Recovery Associates
Icahn Enterprises

Extreme Value Newsletter Basics

Safety: Moderate
Publishing frequency: Monthly newsletter and mid-monthly updates
Recommended amount of capital to get started: $5,000 minimum
Typical holding period: Three to four years
Price: $1,500 per year

Commodity Supercycles

John Engle, Commodity Supercycles newsletter’s editor, watches for solid companies in the tech industry. With a background in biotech as a bench scientist for one of the biggest pharmaceutical companies in the United States, Engle has an eye for up-and-coming tech stocks with great potential.

Commodity Supercycles Newsletter Basics

Number of positions: ~20
Safety: Moderate
Publishing frequency: Third Friday of each month
Recommended amount of capital to get started: $1,000
Typical holding period: Three to five years
Price: $199 per year
Trial Subscription: 30-days

Stansberry Gold & Silver Investor

Investors interested in learning how to successfully diversify their portfolio with gold and silver get access to some of the most important research conducted by Porter Stansberry and his team with the Stansberry Gold & Silver Investor newsletter.

Bill Shaw serves as editor of both Commodity Supercycles and Gold & Silver Investor. He’s been helping Stansberry readers make wise investments since 2015 to prosper even during times of crisis. You’ll get regular updates on the currency and precious metals markets with Porter’s market analysis.

Stansberry Gold & Silver Investor Newsletter Basics

Number of positions: ~20
Safety: Moderate
Publishing frequency: Second Tuesday of each month with occasional email updates
Recommended amount of capital to get started: 15 – 20% of your investment portfolio
Typical holding period: A few months to years, depending on market conditions
Price: One-time $2,500 portfolio fee + $49 per month; call (888)863-9356 to purchase

Stansberry Innovations Report

Investors who want to participate in the excitement of technology revolutions can use the information in Stansberry Innovations Reports to catapult their portfolios with John Engel’s advice about which stocks are poised for explosive growth.

Stansberry Innovations Report Newsletter Basics

Number of positions: 20
Safety: Conservative
Publishing frequency: Third Friday of each month
Recommended amount of capital to get started: $1,000
Typical holding period: Three to five years
Price: $199 per year
Trial Subscription: 30-days

Stansberry Specialized Investment Research

If you want to learn more about a specific investment niche, you may find the information you need in one of Stansberry Research’s Specialized Investment Research newsletters. Stansberry’s Big Trade, True Wealth Opportunities: China, Stansberry Venture Technology, Stansberry Venture Value, Advanced Options, Cannabis Capitalist, Ten Stock Trader, and Crypto Capital include speculative investments ideal for someone with a high tolerance for risk.

Other, more conservatively oriented newsletters under the Specialized Investment Research heading include Stansberry’s Election 2020 Portfolio, Silver Stock Analyst, Gold Stock Analyst, DailyWealth Trader, Income Intelligence, Stansberry’s Credit Opportunities, and True Wealth Real Estate.

Is Stansberry Research a Good Resource For New Investors?

Maybe. Before you subscribe to any of Stansberry’s research-packed newsletters, look around on the company’s website and listen to Stansberry Investor Hour. This will give you some idea of what to expect and whether Stansberry’s recommendations may work with your portfolio and investment style.

New investors should check out the free guides available on the Stansberry Research website. Beginners may benefit from free educational resources like Managing Your Wealth, Investment Basics, and Getting Started.

If you have a portfolio of at least $10,000, you may be able to justify the cost of a subscription to one of the company’s Macro Level service subscriptions. Otherwise, it may be wiser to learn everything you can from the free information available on the site before committing to a paid subscription.

Does Stansberry Research Have an App?

Yes. Stansberry Research supports a free app allowing subscribers access to their subscription information on the go. The most recent update to the app, released June 17, 2021, fixed a few minor bugs. The app is only available for iPhone, iPad, and Mac users running OS 11.0 or later.

The app gets an average of just 2.5 out of five star ratings from 60 users’ reviews.

Stansberry Research Customer Reviews

Of course, the Stansberry marketing team uses positive customer reviews to their advantage on the site. Before you decide to hand over your credit card numbers, check out reviews not under the company’s control.

Stansberry Research Newsletter Reviews on Quora

Stansberry Research customers who’ve paid for subscriptions express their views about the company’s newsletters.

“I decided some years ago to have a go at investing in shares, so I opened an execution-only share dealing account and set aside a small sum of money and started to do my research.

I ended up subscribing to two share tipping newsletters, Motley Fool and Porter Stansberry.

I invested some money, half with the Motley Fool tips and the other with the Porter Stansberry tips.

Both did very well, in fact one share with PS did very well and I made the mistake of thinking I was some sort of investment genius and cancelled both subscriptions and went on to experiment with CFDs.

Now regarding PS in general, having been a subscriber I still to this day am bombarded with marketing materials and newsletters.

I my opinion no it is not a scam but unless you have your discrimination filter turned up to the max you could well end up with some very unsuitable products at eye wateringly high prices.”

-Stephen Morgan, CEO of A.S. Nieruchomości

Stansberry Research is well-known for effective and persistent marketing. Much of the free information on the website includes long-form videos and letters aimed at acquiring new subscribers. Investors who know what they are looking for and who aren’t prone to getting distracted by well-honed marketing techniques are likely to find the investment advice they need to help them level up.

“Ultimately, services like Stansberry and Motley Fool are designed to provide stock picks or investment information. So, technically, as long as they deliver that information, they deliver on what they promise in the subscriptions.

That said, their aggressive marketing can attract the wrong types of investors. If you’re looking to get rich quickly, avoid these types of services.

These services are of more value to diligent investors who want to generate investment ideas. You need to have the ability to look past the hype. You also need to have the focus to avoid getting sucked into the next biggest thing.”

Josh Anderson, Day Trader

Stansberry Research Parent Company The Agora Settles FTC Lawsuit

After 15 months of litigation, Agora Financial agreed to pay more than $2 million to customers that the FTC says the company tricked into buying products that promised to cure Type 2 diabetes.

Agora Financial also allegedly promised to help seniors successfully navigate a government-affiliated program. The defrauded seniors will receive refunds for publications purchased from The Agora and it’s affiliates. The FTC states that Agora Financial and its affiliates are barred from making additional false claims.

While there were no fines imposed by the FTC, it’s important to be aware that The Agora and its subsidiaries are experts in the art of persuasion. When you sign up for a newsletter, you’ll receive additional marketing emails.

Is Stansberry Research Worth it?

If you decide to try a Macro Level Stansberry Research newsletter subscription priced at $199 per year, you have 30 days to find out whether it’s worth your money. Mark the deadline on your calendar so you can get a refund if you decide to cancel your membership.

Remember that even if Stansberry Research highly recommends investing in certain stocks, they can’t legally promise a successful outcome. Investing in the stock market carries an inherent risk that you’ll lose money if you choose to sell stock for less than you paid for it.

If you don’t already have a brokerage account, you may not be ready to pay for investing advice. Spend some time on the Stansberry Investor homepage learning about various stocks. Check out the free “Tip of the Week”, the daily Morning Market Update, and create a customized watch list to try your hand at choosing stocks worth your attention.

Seasoned investors who want a hand choosing stocks without having to devote the time and energy necessary to make the best possible investments may enjoy the depth of research provided by a paid subscription to any of the available newsletters highlighted here.

Stansberry Research’s advice consistently beats the market, so if you have a large enough portfolio to justify the cost of a membership, doing so could help you make better decisions while spending less time in the research phase of investing.

Marcus Bank by Goldman Sachs Online Savings: 0.50% APY + 0.60% APY CDs

Lauren Graves
June 18, 2021

Update June 2021: Marcus Bank has not changed any rates on either their fixed rate CDs or their variable rate online savings account in all of 2021 thus far. To put their current yields in perspective (see rates below), we’ve highlighted current national averages for various products according to recent FDIC data.

Average yield on a money market account: 0.10% APY
Average yield on a savings account account: 0.06% APY
Average yield on an interest checking account: 0.03% APY
Average yield on an 12 month CD: 0.14% APY
Average yield on an 60 month CD: 0.27% APY

You’ve surely heard of Goldman Sachs, the global investment services firm, but you might not be familiar with their digital subsidiary, Marcus.

Marcus by Goldman Sachs is an online-only, FDIC-insured bank offering personal loans, a savings account, and CDs. Named after Goldman Sachs pioneer Marcus Goldman and founded in 2016, this bank is at the top of the game with its high-yield savings and deposit products.

Marcus was recognized as one of the “Best Banks for Savings in 2019 by Nerdwallet” and as one of the “Best Savings Accounts of 2020 by GOBankingRates.”

Marcus by Goldman Sachs consistently features high yields on its variable rate savings account, but does that mean you should sign up?

Find out more about their deposit products and customer experience before you commit to this trendy banking platform.

Marcus by Goldman Sachs Online Savings Account Rate + Details

The Marcus savings account holds a very respectable APY. To put the yield below in perspective the current national average for savings accounts sits at just 0.07% nationwide.

Min Deposit	APY
$0	0.50%

The no-hassle minimum deposit or daily active balance requirements make the account very stress free and widely available to all income groups.

To earn the noteworthy APY you just have to fund your account within 60 days of opening it, and maintain a positive balance after that.

There are four different ways you can make a deposit into this savings account.

You can:

1. link your savings account to an external bank account and transfer funds (Marcus won’t charge fees for this, but your other bank might),
2. set up direct deposit payments from your payroll or Social Security,
3. send a domestic wire transfer, or
4. mail a check to this address – Goldman Sachs Bank USA P.O. Box 4571 Carol Stream, IL 60197-4571

Once you’ve opened the account, you can move funds about via:

Wire transfer
Electronic transfer

Interest on the Marcus savings account is compounded daily and credited monthly.

Per the standard and federally-enforced limit, you can make up to six transactions from a savings account per month for free. There is no excessive withdrawal fee, but you won’t be allowed to go over this limit. These accounts do not come with hidden monthly maintenance fees.

Marcus does not offer a debit or ATM card for its savings accounts at this time, so you’ll have to have your funds transferred to another account if you wish to withdraw them. Use the savings calculator to find out how much your money will grow if you don’t touch it.

Marcus by Goldman Sachs CD Rates + Account Details

Marcus offers standard CD terms (shown below) with high yields as well as a “No-Penalty CD” that comes with a 7 month term and an APY of 0.55%. We discuss the no penalty CD a little further down.

Marcus CD Rates

CD Term	APY
6 month	0.15%
7 month “No-Penalty CD”	0.45%
9 month	0.25%
12 month	0.55%
18 month	0.55%
2 year	0.55%
3 year	0.55%
4 year	0.55%
5 year	0.60%
6 year	0.60%

To put the offers above in perspective, the current national average for 12 month CDs and 60 months CDs sit at just 0.14% APY and 0.27% APY, according to recent FDIC data.

No- Penalty 7 Month CD

Earn a fantastic rate while still having access to your funds! Note the yield is now 0.45% APY.

The no-penalty CD is much more flexible than your standard certificate. It’s a 7 month term that earns 0.45% APY—an excellent rate of return for such a short time period—and comes with no early withdrawal penalty.

You’ll earn the fixed interest rate for the duration of your CD, but you can withdraw up to 100% of the funds as soon as 7 days after issuance penalty-free. This is the only difference between a high-yield and no-penalty Marcus certificate as far as terms and conditions.

CD Account Details

Interest is compounded daily and credited monthly to your certificate account, or you can withdraw it as you please. You can have all interest automatically reinvested, all interest withdrawn, or some withdrawn and some reinvested—you can make any changes over the course of the term.

A $500 minimum opening deposit and average daily balance is required to earn interest on a certificate account. Marcus CDs are backed by a 10-day Rate Guarantee, which promises the highest published interest rate and APY Marcus has to offer on your term for 10 days after certificate issuance. Essentially, you’ll get the highest rate on your account as possible for a short time—you aren’t locked in to a rate until that 10-day period is up. To ensure that this safety net is enforced, just make sure you have the $500 minimum deposited in the account within this time period.

There is a 10 day grace period within which you should try to make any changes or withdraws after a CD renews. If you don’t and you find yourself needing to withdraw funds from a high-yield CD (not a no-penalty CD!) after this, get ready to pay. For terms of less than 1 year, you’ll be charged 90 days’ simple interest; for terms of 1 – 5 years, you’ll be charged 270 days’ simple interest; and for terms more than five years, you’ll be charged 365 days’ simple interest.

Banking Experience with Marcus by Goldman Sachs

There are no Marcus ATMs or in-person branches, which is typical of online banks but important to know.

There are also no Marcus ATM, debit, or credit cards, but there is the Goldman Sachs card. Goldman Sachs’ only credit card, the Apple card, had a rough start. When it first launched, the card drew heat for alleged gender discrimination in the algorithm used to assess a potential user’s credit and qualifications. With two high-profile corporations like Goldman Sachs and Apple teaming up to launch a card, this error was quickly spotted and users were turned off of the product by such an egregious glitch. But now that the media storm has mostly calmed and the issues have been addressed, the Apple card is considered a decent product for devoted Apple users.

User reviews of Marcus are about average, but the data is somewhat imprecise. This is because many users report about their experiences with the Apple card rather than with Marcus as a bank, so this leads to difficulty in condensing customer experience with the online bank. Nevertheless, the results that are in are as follows: out of 128 reviews on WalletHub, Marcus scored 3 stars out of 5. Out of 165 reviews on DepositAccounts, the bank landed, again, 3 stars. And out of 71 reviews on Trustpilot, Marcus scored about a 3.5.

When you bank 100% digitally, you always run the risk of not being able to have your problems solved in a timely manner and, in some cases, at all. Unfortunately, Marcus is no exception. Some customers have reported not being able to get in contact with customer service representatives when their accounts were temporarily and inexplicably locked and have expressed frustration with slow, unsatisfactory service.

Overall, it seems, customers are either highly satisfied or highly unsatisfied with Marcus, so this might be a case where you’ll want to see for yourself how accessible Marcus customer service is. You might try giving their help line a call before opening an account if you have any questions and see what that experience is like to get an idea of what you can expect, but of course, this isn’t a perfect measure. Customer Service can be contacted Monday through Friday from 8 am – 10 pm and Saturday to Sunday from 9 am – 7 pm ET or you can call (855) 730-7283 to get in touch with someone.

The Marcus online portal is said to be more user-friendly than most banks, which is important when you’re managing your money digitally. The app gets 4.5 stars on Google Play and 4.9 stars on Apple.

Final Thoughts

The annual percentage yields offered on Marcus’s savings products are top notch. Both their online savings account rate and certificates of deposit rates put the national averages (and a large chunk of their competitors) to shame.

Even though the overall banking experience is mixed, if you’re simply after high yields and no frills, then the savings products offered by Marcus should be on your short list.

Mango Prepaid Mastercard Review

Lauren Graves
June 18, 2021

The Mango Prepaid Mastercard by Mango Money is a straightforward financial product for people of all ages. This debit card, issued by Metropolitan Commercial Bank, launched in 2018. It is ideal for consumers with poor or no credit and has some nice perks on top of being safe, flexible to use, and easy to load.

This prepaid debit card is good for young adults and adults looking for something between cash and a typical debit card. And with the opportunity to earn high interest rates on money saved as well and plenty of ways to load money to your card, it’s a solid choice for people to build good money habits through low risk means. Learn all about the Mango Prepaid Mastercard here.

Who is It For

Average age: Adults aged 18 years old or older.

Good candidate: People who want spending freedom but have little to no experience with money management practices.

The Mango Prepaid Mastercard doesn’t require a credit check when applying, so it doesn’t matter whether you have started building up credit or not. We recommend this product to people who have a poor credit score or no credit history at all, especially those who will take advantage of the high yield savings account.

Parents can apply for this card on behalf of their children, but their children must be at least 18 years old to qualify. This is not a debit product made specifically for kids and teens, so if that’s what you’re looking for, consider other prepaid debit card options such as Greenlight, BusyKid, FamZoo, or Copper.

Features and Benefits

With the Mango Prepaid Mastercard, you can spend your money anywhere Mastercard is accepted, but only up to whatever is loaded on your card. There are a few different opportunities to earn extra cash with Mango and account features built in to help you form good spending and saving habits.

You can add money to your account via direct deposit, ACH bank transfer, PayPal transaction, or cash at a Green Dot or Ingo Money kiosk (cash reloads do not incur fees from Mango but may incur fees from third-party locations). Green Dots can be found at both ATMs and retailers like grocery stores, gas stations, and banks.

💰 Earn: When you successfully refer a friend to Mango using your unique identifier code and they open an account and set up direct deposit of at least $50, you earn $10. There is no limit to how many times you can receive this referral bonus. You can also earn money through the interest-bearing Mango savings account, but we’ll get to that.

💸 Spend: There is nothing extraordinary about the Mango Prepaid Mastercard when you need to spend money. Just load the card with cash or external funds and use it like you would use cash, except that you’ll be asked for your PIN when you swipe. This card can be used at ATMs (fees apply) and with electronic money transfer apps like Venmo and PayPal.

Mango cardholders can also enjoy the benefits of Mastercard membership through Priceless. Priceless is a program for Mastercard users that offers exclusive experiences in categories such as Entertainment, Shopping, Travel, Culinary, and more. Some experiences are discounted. Read more about the Mastercard Priceless program.

It is not possible to overdraft a Mango account, and credit in any form, including loans, is not available at this time.

You can sign up for text alerts to notify you whenever your card has been used. This is a free feature that can help you keep track of your balance and budget your spending. You can always see your transaction history, card balance, and savings from your account. Users can also transfer money to each other through the Mango app cardholder portal.

💰 Save: Users can earn an APY of up to $6 with the Mango Prepaid Debit card. However, there are several stipulations to this offer. First, you have to fund the savings account with at least $25 and maintain this balance in order to qualify. Then, you have to use your Mango card to make at least $1,500 worth of purchases or payments every month.

If you can’t quite afford to spend this much each month, Mango will pay an interest rate of 2% when your total purchases equal between $750 and $1,499.99. You must still have an average daily balance of $25 to qualify for this rate.

The final catch is that the maximum balance for this high rate is capped at $2,500. When your balance exceeds this, your money earns just 0.10%. These rates are subject to change at any time.

There is a monthly limit of six transactions for the savings account, the number established by the federal government in Regulation D that a lot of banks still follow even though this rule was suspended in mid-2020.

You can sign up for Mango Savings as soon as you’ve opened your account and put money on your card for no extra fee. There is a limit of one savings account per Mango checking account. People with a steady income who can link their direct deposit with Mango stand to earn the most money from this account.

You may choose to add one authorized user to your account at no charge.

How Much Does the Mango Prepaid Mastercard Cost

💲 Fees: No activation fee, $5 monthly account fee, $3 per domestic ATM withdrawal, $4.95 + 3% per international ATM withdrawal, $1 for declined ATM withdrawals, $1 for balance inquiries at ATMs, $8 monthly account inactivity fee, no cash reload fee.

There is no charge for opening an account. The $5 monthly fee is waived when direct deposits total or exceed $800 per month. The inactivity fee is assessed after 90 days of inactivity, meaning no money has gone in or out of your account during that time.

There is also a $2.50 fee for every bank teller withdrawal you make at a participating bank and a $10 fee for closing your card, which can be done online or through the app. There are no additional hidden fees.

Benefits of Mango Over Competitors

One of the most attractive things about Mango is that it allows customers to earn interest on their savings, and the APY isn’t shabby. You have to be earning money and spending it regularly to qualify, but you won’t find a rate like this offered by many other savings accounts.

Another nice thing about Mango is that it’s easy to fund your account because there are a lot of funding options. You can load by bank transfer, PayPal, direct deposit, or cash. There are no fees for any of these transfers. Cash reloads, especially free ones, are somewhat unique in this arena.

And of course, Mango has advantages over bank-issued debit cards and credit cards, including that accounts can be managed 100% digitally. You won’t have to deal with brick-and-mortar banks to address questions and concerns, and you won’t be able to accrue debt or spend more money than you have. Prepaid cards are, in general, a responsible choice for cash access.

Potential Drawbacks

There are a lot of fees associated with this product compared to competitor products. Although it is possible to waive the monthly fee, there are plenty of good prepaid debit cards out there that don’t charge a fee at all and have fewer account management fees. Incurring fees for using an ATM of any kind is especially frustrating.

Another thing you might not like about Mango are the account limits, which are somewhat restrictive. For example, there is a daily total withdrawal fee of $500, a daily cash deposit limit of $950, and a daily purchase limit of $2,500. Mango also caps accounts at $10,000, so there’s only so much you can spend and save. If you’re going to use this card to move large sums of money, you’re going to run into problems.

If you’re planning to get this card for your child, the main obvious drawback is that the minimum age is 18. And if you do want to get this prepaid debit card for your college-aged kid, you won’t be able to set spending limits, get activity notifications, or otherwise control or monitor their account to help them form smart habits.

Finally, there is no app for the Mango prepaid debit card, only a mobile-enabled cardholder portal. This could easily prove inconvenient.

Custoumer Sentiment

Mango Money users would generally recommend this card to others. It’s easy to use and decently flexible in terms of how you can load it, where you can spend it, etc. However, a couple of users have had money disappear from their accounts without explanation. There are not a ton of reviews out there from real customers on the product itself.

There is no dedicated Mango Money app at this time. Users will have to use the Mango online portal to access their account, which can be done from a computer or mobile device. Mango claims that their web portal is “optimized for mobile,” but it is not clear whether Android and Apple users can expect similar experiences.

To contact customer service, call 855-687-2036 or 877-896-2646. Alternatively, you can send an email. Support responds to these emails 24/7 with the exception of major holidays.

Is It Safe

All Mango Money checking accounts are insured by the FDIC up the federally allowed limit of $250,000. Mango also provides fraud monitoring services free to all users and card replacements in the event of loss or theft.

The Mango prepaid debit card is safer than a credit card because it doesn’t allow you to incur debt by borrowing money and it is safer than a typical debit card because you can only spend what is on your card, whereas most debit cards allow and charge fees for overdrafting.

Of course, a prepaid debit card won’t help you build or repair your credit, but it’s a good all-around option for people who have a less than perfect history with money. Whether you have debt or you just have trouble sticking to a budget, a prepaid debit card can help you get back on track while still giving you the convenient spending options of a card.

Note that there are no merchant category restrictions for this card, as you often see with products made specifically for young users.

How to Sign Up

To sign up for a Mango account, you or your child has to be at least 18 years old. The application will have you select one of four card designs when you start signing up

If you’re signing up for an account for your teen, they will become the account holder. You will need to contact Mango directly if you have questions about how this works, as this information is not readily available.

Funding an account is simple and there are four ways to do it: direct deposit, bank transfer, PayPal, or cash. There is no activation fee for signing up or minimum opening deposit requirement. However, remember that the monthly fee of $5 will be charged if you don’t link direct deposits of at least $800 within a month.

Final Thoughts

This is a decent prepaid debit card overall, especially for that high yield savings account. And although the 6% APY for the savings may be difficult for some people to qualify for, this is definitely not a rate you see coming from a lot of competitor cards and gives Mango an edge.

The main drawbacks to be aware of are the fact that Mango doesn’t have a mobile app and that there are a lot of fees. This wouldn’t be a great first card for kids as it doesn’t provide parental control options, but it might work well for people that want to teach themselves to spend and save more responsibly.

Affirm Savings Review – Still 0.65% APY!

editorial staff
June 17, 2021

A word from founder Max Levchin (former PayPal founder).

Update June 2021: Affirm’s high yield savings account remains at 0.65% APY and has not encountered a rate drop yet in 2021. To put this yield in perspective, recent FDIC data shows the following national averages on various types of variable-rate savings accounts:

Average yield on a money market account: 0.10% APY
Average yield on a savings account account: 0.06% APY
Average yield on an interest checking account: 0.03% APY

Affirm is another San Francisco-based, financial technology company that recently launched a high yield savings account in June of this year.

The company was founded by former PayPal founder Max Levchin and the savings account features one of the best APYs (annual percentage yields) on the market.

As Max states, “We’re here to improve lives. If that means more work for us, or that we make less money, we will always take the more difficult path in favor of treating people better.”

This sentiment shows in their high yield savings account. We’ll review this product, its interest rate, features and potential drawbacks below.

Affirm Savings Rate + Account Details

As mentioned, Affirm itself is a financial technology company. They have partnered with Cross River Bank to offer their high yield savings account; leveraging Cross River Bank’s FDIC insurance. All Affirm savings account deposits are federally insured by the FDIC up to $250,000 per depositor (joint accounts are not available at this time).

Affirm Savings Rate

Minimum Balance	APY
$0	0.65%

To give the yield above some context, the national average for a savings account currently sits at just 0.07% APY. The top online savings account and money market account rates from FDIC-insured banks are ranging from 0.50% – 0.60% APY, currently.

Interest is compounded daily on all balances above $0.01.

The account is limited to six ACH transfers per month per Federal Regulation D.

Unfortunately there is no debit card at this time. The only way you can access your money is through bank transfers.

How to Open and Fund the Account

To get started, navigate to the high yield savings offer page on the Affirm website (located here). From this page you can either enter in your email, which will Affirm will then confirm and send you a link to download their app OR you can download the app directly from this page. You can find their Android app and IOS app at their respective stores or use our links.

Once you’ve downloaded the app on your phone or tablet, you may begin the process of opening and funding the account.

Information you’ll need to open the account:

full name (driver’s license)
current address
phone number
email
social security number or valid Tax ID

To fund your savings account or add more money, do the following:

Open the Affirm app.
Under Savings on the Manage tab, tap “See account.”
Tap “Add money.”
Enter the amount you want to add.
Under From, tap the bank account you want to transfer money from.
- No linked accounts? Tap From, then tap New bank account and link a new bank account.
- Only one linked account? From will be auto-filled with your linked bank account. To switch to a new bank account, tap From, then link a new bank account.
- Multiple linked accounts? Tap From, then tap a linked bank or link a new bank account.
Under Frequency, choose how often you want to add money.
- To add money once, keep Frequency auto-filled with Once. Your transfer will start no later than the next business day.
- To add money every week, tap Weekly, then choose the day. Depending on the day you pick, your transfer may start next week.
- To add money every month, tap Monthly, then choose the date. Depending on the date you pick, your transfer may start next month.
Review your transfer details and tap Confirm.

After you have funded your account you will begin earning the advertised rate on all balances above $0.01.

Reviews and Customer Sentiment

Manage your savings and watch your balance grow with Affirm’s highly rated mobile apps.

Given the fact that the Affirm savings account has only been on the market for a short period of time, there isn’t too much coverage on the product.

That said, their mobile app ranks quite high for both Apple and IOS, scoring 4.6 and 4.9 stars out of 5 on the Google Play store and Apple store, respectively.

Final Thoughts

If you’re looking for a no-hassle, digital way to save your cash then you’ll likely want to consider this saving account by Affirm.

It comes with zero fees of any kind and an annual percentage yield that beats the current national average by almost 12x.

Just be sure you won’t need any checking account features such as a debit card, checks or easy access to cash as this account won’t be able to provide you with those.

18 Best Debit Cards for Kids and Teens in 2021

Lauren Graves
June 15, 2021

When shopping around for the right debit or prepaid card for your kid or teen you’re going to want to keep an eye out for several key features. Things like low fees, parental controls for reloading funds and monitoring and controlling spending activity are essential.

Depending on the age of your kid(s) though, you many want additional features such as automatic bill pay, or mobile direct deposit. These are great to have if your teen has a part time job and may even have bills to pay of their own such as a cell phone, iTunes, Netflix, etc.

In compiling this list below of the best debit cards for kids and teens, we’ve considered the following features and variables:

Does the account pay an interest on the balance?
What are the fees associated with this account – monthly fees, fees per cash reload, etc.?
Which cards are the best for households with multiple kids and/or teens?
Which offers provide the best security?
Which offers provide the best parental controls?
Which provides the best app and/or online experience?
Which debit cards feature the best card art?

If you’re considering applying for a debit or prepaid card for your child or teen, you’ll want to read our comprehensive and objective review of what we believe to be the best options below.

Greenlight Kids’ Debit Card

The Greenlight debit card for kids is one of the most popular offers on the market and is perfect for teaching your children all the basics of earning, spending, and saving their money.

Greenlight lets you create a chore list that your child can work through to earn money and other perks. You can also set automatic allowance deposits on a weekly or monthly basis in addition or if you prefer giving your children a set amount of money each week. And if you ever need to fund your child’s account in a matter of minutes, you can make an instant transfer through the app.

When your child spends money, you’ll receive a notification that their card was used moments after they’ve used it. You’ll be kept in the loop and you’ll have a say in where your child is allowed to use their money, but your kids will be doing valuable learning themselves as they track their spending and saving and build money management skills. Kids with Greenlight cards can use their funds to make purchases anywhere Mastercard is accepted or even to buy stock.

A Greenlight subscription costs $4.99 a month for your whole family, which can include up to five kids’ accounts.

You can learn more at about the Greenlight Debit card for kids on their website.

Current Debit Card for Teens

You and your child will both love the Current debit card for teens. They will love the freedom to make purchases just about anywhere and save more effectively with round ups and savings goals, and you will love being able to keep them safe wherever they are using their card.

This card lets you set spending limits, assign chores, pay allowance, and transfer money to your teen with ease. You are immediately notified whenever your child uses their card. The Current app is user-friendly and easy to navigate, making it perfect for teaching your teen about banking without the stresses of a complicated interface. You also have the ability to block your child from using this card at certain merchants.

The price is $36 per teen annually. There is no minimum monthly balance fee, overdraft fee, or transfer fee. This card can be used online or anywhere Visa is accepted.

You can learn more by reading our comprehensive review of Current.

FamZoo Prepaid Debit Card

The FamZoo Family Pack of Prepaid Cards gives parents control over how and what their children spend and kids opportunities to learn how to manage their money. FamZoo accounts use private family banking systems to give children hands-on learning experiences that are parent-directed.

With FamZoo, parents are “bankers” and their children are account holders. Parents can establish a payroll for their kids, loan money, set up automatic allowances, and even pay interest on savings.

This virtual family bank is great for families of all sizes and can be customized to meet your children’s specific needs. FamZoo is easy to use from both the parent and child perspective and the prepaid cards can be used safely anywhere where Mastercard is accepted.

FamZoo accounts cost $5.99 per month if you pay monthly, but you can save if you pay in advance. If you pay for 12 months, the cost will come out to around $3.33 per month. The first four debit cards are free and each card beyond this costs $2.

We go into further detail in our FamZoo review found here.

BusyKid Visa Prepaid Spend Card

If you have a child between the ages of five and 16, you may be interested in the BusyKid Visa Prepaid Spend Card.

BusyKid uses a chores-based system to allocate money for your child so that they can see exactly where their money is coming from and where it is going. You can set rates for different chores and your children can mark them complete and see when they will be paid. Parents who use BusyKid appreciate that this system instills a sense of responsibility and ownership over spending and saving in their children.

Once your children have been paid for their chores, they can choose to spend, donate, or invest their money. Investments can be made into real companies like Netflix and Nike through Stockpile and kids can donate a percentage of their earnings into the charities of their choice. All purchases and spending is approved by parents before it goes through.

BusyKid prepaid debit cards can be used online and anywhere Visa is accepted. A BusyKid annual subscription costs $19.99 including a free card. Each additional card costs $7.99 a year.

This breaks down to a monthly cost of just $1.67 for one child or $2.33/month for two.

You can read our review here if you’d like to learn more.

Copper Debit Card

Copper debit cards are specifically designed to help your teenager learn good money habits, without being overly restrictive or charging fees for mistakes like overdrafts. Copper debit cards can be used online and in person anywhere Mastercard is accepted.

With Copper, your child is given the tools they need to make smart financial decisions for themselves and control over their own accounts to practice what they’re learning. They can also take quizzes to test their knowledge and they’ll have access to expert advice whenever they need it.

The Copper app provides a straightforward, comprehensive look at your teen’s spending and saving, lets them set savings goals, and makes it easy to manage their finances in one place. And as their parent, you can set up automatic payments into your child’s account and not have to worry about transferring money.

Copper requires no minimum deposit to open and does not charge an annual fee.

[Update April 2021: Copper has seen consistent growth since their inception in 2020. Their CEO and founder announced that they surpassed 130,000 members as of April 2, 2021.]

Copper CEO/Founder announcement on April 2, 2021 via LinkedIn.

Copper also has a promotion running where you can send $3.00 to each of your friends (which copper will pay for) plus you’ll receive $3.00 when/if they sign up.

You can learn more in our review here.

Akimbo Prepaid Mastercard

An Akimbo prepaid Mastercard offers a safe way for your older children to learn the nuances of banking in a low-risk environment. This card lets your teens have total control over their money but gives you the final say in what they can and can’t spend. Your child’s card account will be a sub account within your own, so you can decide how much money you allocate to your teen’s card.

Akimbo doesn’t have all of the bells and whistles of some of the kids cards and apps talked about in this list, but it is as close as you can get to giving your child a bonafide debit card without surrendering your ability to see what they’re doing and help them. You’ll be notified when they spend their money and, as the account manager, what they spend it on. This is great for parents that want to play a role in teaching their children financial literacy lessons.

Each Akimbo account may have up to four prepaid cards. There is no monthly fee. However, reloading your card costs up to $5 each time and ATM withdrawals are around $2 each.

Capital One MONEY Teen Checking

A MONEY teen checking account with Capital One is a great choice for kids and teens that have already learned the basics of money management and are ready for more independence with their cash. Kids eight years old or older qualify for this account.

The Capital One MONEY app lets your child track their earning and spending as well as set savings goals in different categories. If you choose to, you can reward them for reaching these goals with bonuses. And in cases of emergency, you can lock your child’s card instantly.

There are no monthly fees or account minimums with this account. Parents do not need to have a Capital One account to enroll their child in MONEY. This account earns an APY of 0.10% on any balance.

Gohenry Debit Card

The gohenry debit card is designed for kids between the ages of six and 18 years old, but it’s best for parents that want to start teaching their children young about the importance of smart budgeting.

The gohenry app lets you set up an automatic weekly allowance for your child and you can also add chores and set a price for these to let them earn more. Then, you set limits on how much your child can spend in a given week or trip and change these as needed. Your child can save, spend, or donate their money to Boys & Girls Clubs of America. They can set as many savings goals as they want for larger purchases.

A gohenry account costs $3.99 per month per child. This card is a little pricier than some of the others on this list because fees are charged per child, but it’s good for small families. These cards can be used online or anywhere Mastercard is accepted.

American Express Serve Prepaid Debit Cards

The American Express Serve FREE Reloads prepaid debit card, while not marketed as a teen product, is great for teaching your teen financial literacy.

A FREE Reloads debit card requires no minimum monthly balance and is free to use/reload at over 45,000 ATM and store locations. By giving your teen a certain amount of money and allowing them to decide when and how to spend it, this card encourages independence and offers all of the perks and protections of a true debit card.

This account charges a monthly fee of $6.95, which cannot be waived. A card is free to purchase online but may cost up to $3.95 if you go to a retail location. These can be used online or anywhere American Express is accepted. To avoid transfer fees, your teen will need their own American Express bank account, and many parents choose to link this to their own.

Alliant Credit Union Free Teen Checking

You might want to look into getting an Alliant Credit Union free teen checking account if you’re a fan of the popular credit union, fee-free banking, or easy-to-use platforms. Teens between the ages of 13 and 17 are eligible to open an account.

This checking account is one of the best options out there for giving your teen a comprehensive banking experience that is safe and helpful. Teens can set their own budgets and even earn interest up to 0.25% APY when they save (you will need to enroll in eStatements and make one deposit per month into their account to access this feature); and parents can set ATM and spending limits for their teens and transfer money between accounts at no cost. On top of that, the Alliant mobile app is consistently rated at five stars.

If you’re looking for even more interest, they also have a kids savings account that features an APY of 0.55%. To put this in perspective, the current national average sits at just 0.07% APY.

There is no minimum monthly balance requirement or monthly fee with this account. Just a few of the perks offered include access to over 80,000 free ATMs, up to $20/month in ATM rebates, and the ability to make contactless Visa purchases.

Step Banking for Teens

Step is an app and debit card that is backed by founders with experience at Google and Square. Much like the other debit cards and associated apps on this list, Step allows parents to monitor their child’s spending as well as send them money on the go.

Step’s banking services are provided by their partner-bank, Evolve Bank & Trust, which also allows Step to leverage their FDIC coverage.

Step accounts are protected by bank-grade encryption and authentication and because the debit card is a Visa it benefits from fraud protection and zero-liability guarantee.

Jassby Virtual Debit Card

The Jassby virtual debit card for kids offers all of the safety and convenience that a kids’ card should, with the added security of being fully digital. This card is best for families with multiple children because parents are in complete control of when the card is activated and for who. The card can only be used when active.

The Jassby virtual card is unique in that it is on your child’s phone, so you don’t have to worry about them losing a card, but they can still use it anywhere. You can use the Jassby Family Finance app to pay your child an allowance and for chores instantly without incurring fees.

There is no monthly fee for this account for the first six months and as long as the card is used once per month after this (otherwise the monthly charge is $2.99). This card can be used online or anywhere Mastercard is accepted.

Mango Prepaid Debit Card

A Mango prepaid debit card is a stand-out option because it offers the opportunity to link a high-interest savings account to your card.

This account has a lot going for it, including the fact that it can be opened even if your teen doesn’t have a checking account of their own. Your teen can open a linked Mango savings account with a deposit of just $25 and earn up to 6% APY (to qualify for this rate, your teen needs to make signature purchases totaling $1,500 after opening the account and maintain a minimum monthly balance of $25 after).

You can add funds to your teen’s card from your own checking account or load money onto it from a participating retailer like Walmart or Walgreens.

There is no activation fee, but there is a monthly charge of $5 and a $3 ATM withdrawal fee. This card can be used online or anywhere Mastercard is accepted. Mango can also be used virtually from your phone when you enable this from the app.

Visa Buxx Card

The Visa Buxx Card is a basic debit card for kids and teens offered through Navy Federal Credit Union or TD Bank. For NFCU, you must first be a member of the credit union to open the Visa Buxx Card, but membership is available nationwide. Both cards offer parents the ability to reload their child’s card from their phone as well as monitor spending. The Navy Federal Credit Union Buxx Card also has a few different designs to choose from whereas the TD Bank Buxx card does not.

Fidelity Youth Account

The Fidelity Youth Account was just launched in May of 2021 by the reputable financial services firm. It comes with a free debit card – issued by PNC bank – and the ability to both save and invest. Kids and teens are limited to the type of securities they can invest in and the product comes with solid parental controls and features. You can learn more in our full review.

Chase First Banking

Chase First Banking is also one of the newer offers on the list and is only available to current Chase customers. This product launched in 2020 in collaboration with Greenlight and is intended for kids between the ages of 6 and 17.

And although kids are eligible up to the age of 17, the product does not allow for direct deposit, so if your high school kid(s) are earning their own income, Chase First Banking won’t be a great fit.

That said, the product has a number of helpful parental controls and functions (most or all of which are powered by Greenlight). You can read more about them in our Chase First Banking review.

Mazoola Virtual Debit Card

The Mazoola Virtual Mastercard debit card for kids is managed by parents and free to use. As a parent you can activate a virtual and secure debit card for each child and create flexible and individual spending controls. You can also assign & track chores and the rewards for completing them and set up automatic allowance payments. You can also provide them with financial literacy resources, but you can not require them to read before unlocking allowance. Wouldn’t that be neat. For kids, you can use Apple Pay, set savings goals, manage chores and shop online (with restrictions). You can also make p2p payments to friends and family.

Goal Setter: Family Banking

Goal Setter and the Cashola debit card is an education based banking solution for the family. It comes with a savings account and a debit card and some fun quizzes that can be tied to cash rewards and are mapped to financial literacy standards. “Learn before you burn” allows your tween to take quizzes before they get to use their debit card.

BlockFi – Best Overall

Coinbase – Best for Newbies Holding USD Coins

Celsius Network – Best for High Yield + Sign Up Bonuses

Linus – Best for Liquidity

Crypto.com – Best for Cryptocurrency Diversity

Nexo – Best for Rapid Payments

Outlet Finance – Best for Dealing in US Dollars

YouHodler – Jack of All Trades

Gemini – Best for Security

CoinLoan – Security and Safety Runner-Up

Hodlnaut – Runner-up for Liquidity

What are Crypto-Based Savings Accounts

How Much Can You Earn with Crypto-Based Savings Accounts

Who are these providers I’m lending my keys out to?

Why would a business want to borrow at 8-12% annual interest?

Risks Associated with Crypto Savings Accounts

Exchange Rate Risk

Risk of the Stablecoin Peg Breaking

Lock Up Risk

Pledge Risk

Loan Default Risk

Risk of Custodian Hack

Smart Contract Risk

Crypto Savings VS Traditional Savings

FDIC Insurance

Withdraw Limits

Interest Calculations and Interest Deposits

Final Thoughts

What is Stansberry Research?

Stansberry Research Podcast: Free Stock Picking Advice

Are Stansberry Research Stock Picks Any Good?

Details About Stansberry Research Subscription Services

The Total Portfolio

The Income Portfolio

The Capital Portfolio

Macro-Level Services

Stansberry Specialized Investment Research

Is Stansberry Research a Good Resource For New Investors?

Does Stansberry Research Have an App?

Stansberry Research Customer Reviews

Stansberry Research Newsletter Reviews on Quora

Stansberry Research Parent Company The Agora Settles FTC Lawsuit

Is Stansberry Research Worth it?

Marcus by Goldman Sachs Online Savings Account Rate + Details

Marcus by Goldman Sachs CD Rates + Account Details

Banking Experience with Marcus by Goldman Sachs

Final Thoughts

Who is It For

Features and Benefits

How Much Does the Mango Prepaid Mastercard Cost

Benefits of Mango Over Competitors

Potential Drawbacks

Custoumer Sentiment

Is It Safe

How to Sign Up

Final Thoughts

Affirm Savings Rate + Account Details

How to Open and Fund the Account

Reviews and Customer Sentiment

Final Thoughts

Greenlight Kids’ Debit Card

Current Debit Card for Teens

FamZoo Prepaid Debit Card

BusyKid Visa Prepaid Spend Card

Copper Debit Card

Akimbo Prepaid Mastercard

Capital One MONEY Teen Checking

Gohenry Debit Card

American Express Serve Prepaid Debit Cards

Alliant Credit Union Free Teen Checking

Step Banking for Teens

Jassby Virtual Debit Card

Mango Prepaid Debit Card

Visa Buxx Card

Fidelity Youth Account

Chase First Banking

Mazoola Virtual Debit Card

Goal Setter: Family Banking

Footer

Disclaimer