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 an interest checking account with advanced 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 – 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 a 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.