Empower is a financial service offering a mobile-only banking experience that includes a high-interest checking account and an artificially intelligent financial assistant.
How Empower Banking works
Empower offers a high-yield checking account with advance features to include AutoSave (automatic savings), effortless budgeting tools and notifications, smart recommendations on how to earn more or reduce bills, and a human coach to help you with your financial questions.
- Checking Account – high-interest checking account and debit card with no minimums and unlimited transfers.
- Visa Debit Card – 3 monthly ATM reimbursements, zero Visa liability insurance.
- AutoSave – automatically save money by setting goals and let Empower do the work.
- FDIC Insurance – deposits insured up to $250,000.
- Budgeting tools – create spending limits so you don’t go over budget.
- Aggregation – view other banking and finances in one app and get recommendations.
- Financial tracker – get 24/7 alerts and notifications when paychecks, bills, and purchases hit your accounts.
- Human coach – access to a coach to answer your financial questions and help you through financial challenges.
- Monthly fee – $6 per month
- No minimum deposit fee
- No overdraft fee
- No card replacement fee
- No foreign transaction fees
What makes Empower Banking different?
- Empower Assistant – access to the award-winning artificial intelligent financial assistant that tracks your entire financial life and provides recommendations to save, spend less, and chat about your finances.
- Human Coach – ask questions and speak with a person about your financial goals, challenges, and successes.
- AutoSave – set a monthly savings goal and Empower evaluates your income and expenses to find the right times to save automatically through maximum of 4 savings transfers per week.
- Lower Bills – easily find recurring bills and get assistance in canceling or negotiating.
- Financial Report Cards – get a monthly report about your income and expenses to help you gain insights on your finances.
Who is Empower Banking best for
Best for anyone looking for a high-interest checking account and want the assistance of an AI and a human coach to help manage money and achieve financial goals.