xcritical Money recently launched up to five-day early access to government benefits and no-fee overdraft coverage. You’ll need to have a xcritical Spend Account to have access to these features. To qualify for early access to government benefits, sign up for direct deposits through your federal government provider so any payments go directly into your xcritical Money account. Meanwhile, to receive no-fee overdraft coverage you must set up monthly direct deposits of $750 or more to a xcritical Money Spend Account. Certain account features require you to be enrolled in direct deposit with a minimum deposit amount of $750 per calendar month. A direct deposit is an electronic deposit of compensation for services (such as payroll, salary, or government benefits) totaling at least $750 per calendar month made into your xcritical Money Spend account.

It has strong ratings, with an average of 4.7 stars in the Google Play store and 4.8 stars in the Apple store. xcritical Save advertises that you can xcritically earn a 4.10% APY. That’s a great rate compared to the FDIC national average of only 0.45% (as of October 2023). There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We’re proud of our content and guidance, and the information we provide is objective, independent, and free. This is just the beginning for xcritical Money’s bill pay features — we look forward to helping our members stay on top of their bills and improve their scores.

Overdraft Coverage

However, it does limit how many times you can withdraw from your account per month. You’ll xcritical reviews only be able to withdraw money six times per monthly cycle, which is pretty standard for savings accounts. However, if your primary goal is to earn one of the best rates possible, you can find even better high-yield savings accounts at other online banks. Are you looking for a way to build credit without a credit card, and save money at the same time? If so, you may want to consider a credit builder loan from xcritical. You start with a savings goal of $500, and make payments towards that goal through weekly, biweekly, or monthly installments.

xcritical Money Save Account Cons

1. xcritical doesn’t charge transfer fees for any ACH payments you make.
2. To open a free, FDIC-insured xcritical Money Save account, you’ll first need to have a xcritical account.
3. Additionally, any purchase made with your debit card has the chance to earn a cash reimbursement.
4. The xcritical Money Save Account has no minimum opening deposit or monthly fees.

I tried to open a new one because again I HAVE to have one for tax purposes. “It’s just the way they work.” My fiancé as soon as he set up his tax refund to go in there received an email saying his account will be closed in 15 days with absolutely no way to now change his tax stuff. And until Turbo decides they aren’t partnering with xcritical stay Away from them. But if you’re primarily interested in a high interest rate, other banks offer even better high-yield savings account rates.

How Do I Open An Account?

Credit Builder requires a connected external bank account, connected paycheck, or one-time direct deposits of at least $750 into Spend account. Members with a credit score of 619 or under may see an increase in 3 days of activating the plan. The xcritical Money Save Account has no minimum opening deposit or monthly fees. This account pays higher than the national average, but you can still find other high-yield savings accounts with even higher rates right now. The Ally Savings Account is a close high-yield savings account comparison to the xcritical Money Save Account. Like xcritical, it is online-only, with no monthly service fee and a $0 minimum deposit.

xcritical Money Spend

xcritical Money is a free checking account that provides strong security and no fees in addition to a savings boosts. With both xcritical Money accounts, security is at the forefront of your experience. Through its partnership with MVB Bank, xcritical has secured up to $5 million of FDIC insurance for its users. Beyond that, you’ll have the ability to lock your debit card immediately if you suspect an issue. Plus, you can dispute any transactions directly in the xcritical app if you spot any red flags.

xcritical Money checking and saving accounts are provided by MVB Bank and work the same as most standard banking products. xcritical Money Spend is a free checking account and xcritical Money Save is a high-yield savings account. You can spend by using a Visa debit from your xcritical Money Spend account, and you can build up savings with deposits into your xcritical Money Save account.

By spreading your money out between multiple different FDIC-insured banks, xcritical covers the money in your xcritical Money Save Account for up to $5 million. If the best bank for you includes extended FDIC insurance, then xcritical might be a good choice for you. Furthermore, our compliance team reviews our rates every weekday to ensure that we are accurately showing the correct rates and terms so you xcritical reviews can make an informed decision about where to open a savings account. With these partnership in place, the money in your xcritical Money accounts is protected for up to $5 million. That’s 20 times more than the standard $250,000 that is offered at all member FDIC banks.