Albert app review

How does the Albert app work?

Albert is easy to sign up for and use across the board in just a couple easy steps.

Register and sign up

To register, you first have to sign up for Albert. The app itself is available for download both in App Store for iOS or on Google Play.

Tell Albert about yourself

Every individual’s financial life is different, which is why the app guarantees a personalized approach as opposed to a one-size-fits-all approach.

The app will ask a few questions to best understand your needs. Once it has the information it needs, it will get to work and determine an effective approach.

Link your bank account

After creating your Albert account, it’s time to connect your financial accounts.

Once your accounts are linked, Albert will provide recommendations. It’s important to note that Albert doesn’t store banking credentials and they use bank-level security to keep your information safe.

So, as an Albert member, you can have peace of mind all your financial accounts are in good hands.

Work with Albert Geniuses

Not all financial apps offer a way to connect with the experts.

With Albert Genius, you’ll have financial advisors at your fingertips. This personal finance app will analyze everything from your income to your spending to your budget. It finds ways to help you reach your money goals and improve your financial well-being.

With the free version, members will have access to all the basic functions. But for top support, enable Albert Genius.

This is a paid subscription that connects you with advisors. They will help you save money by providing you personalized, honest money advice.

They’ll help you pay down debt faster, offer investing advice, and answer any questions you may have.

How much does the Albert app cost?

Basic Albert app functions are completely free to use. These include a cash account, recurring savings, a rewards debit card, and cash advances.

However, to have access to most prized features of the Albert app, you’ll need to pay for a Genius subscription, which will cost you $14.99 a month with both annual or monthly subscription options.

Features of the Albert app

At this point, you have a solid idea of what the Albert app is designed to do. Here’s a rundown of its main features.

Albert Cash

This is the main account and there are no monthly service fees for Albert Cash accounts.

It’s a legitimate mobile banking experience offered through Sutton Bank to provide users with online banking services and FDIC insurance. FDIC secured savings accounts are protected against the loss of deposits if an insured bank fails. The FDIC protects depositors located in the U.S. against these losses.

When you sign up, you’ll receive an account that has $0 minimum funding requirements and no monthly maintenance fees. Some of the main perks of an Albert Cash account include:

• Early Paycheck Access. Users can get paid up to two days early when they set up direct deposit.
• FDIC Insured. Have peace of mind your information and money are secure. The funds in your Albert Cash account are held at Sutton Bank and are FDIC insured.
• Cash Back Rewards. Genius subscribers will get cash back rewards on categories like gas, groceries, or delivery when they use the Albert debit card.

Albert is not a bank. The banking services are provided by Sutton Bank, Member FDIC. Early access to direct deposit funds depends on the timing of the payer’s submission of deposits. Cash back terms apply. See app for details.

Cash advance

Albert is one of the more popular cash advance applications available. Users will enjoy interest-free instant cash advances up to $250 that will help them get through the month. The money will need to be paid back on the next paycheck.

Note that not everyone is eligible for fee-free cash advances. Eligibility depends on a few factors. Here are a few questions Albert will consider:

• How much income is deposited monthly into your connected bank account?
• Have you been receiving consistent income for the last two months from the same employer?
• Have your connected bank accounts been open for longer than two months?
• Are there any negative balances on your bank accounts?
• Was your recent paycheck received on time and are funds still available 24 hours after payday?

If you wish to get an instant cash advance, you can pay a small fee. Otherwise, you’ll need to wait 2-3 days to receive your cash advance for free.

Albert Savings

The Albert Savings feature is available to Genius members only. This feature analyzes income, bills, and spending habits in an attempt to help users save.

With Albert Savings, you can create specific goals like saving up for a car or building an emergency fund. It will then set money aside every week to help users reach their goals.

Prefer to transfer money yourself into your savings account? No problem; you can disable this feature at any time.

Note: Genius subscribers may earn a notable bonus or base APY on their Albert Saving balance depending on current Albert offering.

Albert Investing

Albert is a SEC-registered investment advisor and FINRA-member broker dealer and provides access to investment services through its app.

With Albert Genius, there are no trading fees and users will be able to start building their portfolio with just $1. They can buy individual stocks, classic portfolios, or themes.

If you prefer, you can allow Genius to create custom investment accounts based on your financial goals. All you need to do is answer a few questions about your investing goals, risk tolerance, and timeframe.

The investing feature is designed for beginners that aren’t as familiar with investing. The Albert savings app will help them learn the ropes and build wealth overtime. And, to help Genius members stay consistent, there is an auto-invest option available.

You can set this up to invest weekly, bi-weekly, or monthly.

Albert Insurance

Albert is continuously working to expand its services and its insurance feature is proof of this.

Albert insurance works with a network of insurance companies to offer different types of services to its users. Users will be able to look for affordable life, car, or home/renters insurance right through the app. They’ll receive free quotes and compare prices.

This is a nice touch. However, many individuals may prefer to search for insurance on their own or with the help of a broker.

Financial Overview

When you log into your Albert app, you’ll have a financial overview of your finances, net worth, investment accounts, and more. You’ll be able to see the following:

• Any upcoming bills
• Recent expenses
• Money saved
• Unusual transactions
• Bill increases
• Overdraft fees
• And more!

Should you have any financial questions, experts are available at the subscription cost.

» Sign up for Albert today here!

Who is the Albert app best for?

The Albert app is for anyone looking for a simple way to organize their finances in one spot while limiting number of personal finance products. It’s also a solid option for the beginning investor that wants to automate their savings.

If you’re someone looking for wealth-building products like cash-back rewards, auto-investing tools, cash advances, the Albert app is for you.

Who is the Albert app not ideal for?

Albert isn’t ideal for individuals looking for assets beyond stocks and ETFs. It also doesn’t support any retirement plans, so if this is important to you, you’ll need to consider other financial apps.

Keep in mind that apps that offer all-in-one solutions tend to do a fair job at multiple things. They don’t excel at just one thing.

For example, if budgeting is your main goal, you should use an app that specializes in budgeting. You may love the Albert ecosystem due to its other features. In that case, you can always use it as a budgeting assistant.

The competition

We’re almost at the end of our Albert app review. Before we wrap-up, let’s go over how Albert stands up to the competition. We know that Albert is a popular cash advance application and it’s continually improving it’s interface by adding new features.

However, depending on your needs and financial life, other top money-savings apps could be superior.

Here are some of Albert’s common competitors:

Oportun

Digit has a new name, Oportun!

Oportun is similar to Albert in that it automatically monitors spending habits and income. It has smart savings tools including automatically moving money from your linked bank account into your savings.

The amount it moves over depends on how much you can afford to save.

However, Oportun goes one step further. It puts money aside every month to ensure you have enough money for your monthly bills like rent or utilities.

With Oportun, users will also invest in a wide range of portfolios of low-fee ETFs. It only costs $5 per month to use the app, which is more affordable than Albert’s Genius subscription.

Oportun does not offer cash advances like Albert does.

» MORE: Learn more with our full Oportun review.

Brigit

Brigit is an app that offers its members cash advances and budgeting tools. It analyzes spending habits and automatically advances you money when in danger of overdrawing your account (requires the Plus membership).

It’s one of Albert’s closest competitors. It has several similarities, the main ones being:

• $250 fee-free cash advance.
• Real-time alerts for upcoming bills.
• Basic budgeting tools that help users save.

One difference between both applications is that Brigit also has a credit building feature. To use this feature, simply open a credit builder account, set aside as little as $1 per month for a minimum payment, and watch your credit score improve!

Another unique feature that Brigit has is a gigs section. Users can find side hustles and exclusive offers to earn extra income. Albert does not offer this.

The biggest downside with Brigit, is that it costs up to $14.99 per month to unlock most features.

» MORE: Learn more at Brigit.

Is Albert legit?

Yes, Albert is a secure and legitimate app that is safe to use. It takes on the same security measures as any major financial institution would. The app uses advanced security protocols to protect its millions of users.

Both Albert Cash and Albert saving accounts are held at FDIC-insured financial institutions. These include:

• Sutton Bank
• Wells Fargo, N.A.
• Coastal Community Bank

Albert also has SIPC insurance to cover the investing side of things. SIPC insurance does not protect against the decline in the market value of your investment – rather it protects you funds if the broker goes out of business.

Does Albert have a good reputation?

You’ll notice that Albert Trustpilot reviews could be better. This isn’t due to horrible customer service or a poor user interface.

Most of the negative reviews come from users not being eligible for cash advances or having a low cash advance limit.

Keep in mind that this is the nature of most cash advance applications. The users eligibility depends on several factors like monthly income or consistency of their pay. Therefore, the amount received will look different for everyone.

Another common complaint reported is that this app moves money into savings without the user knowing. This is due to the Albert Savings tool, which some may be confused by. It’s intentional and you can disable this feature if you prefer complete control over your funds.

Summary

The Albert app offers a simple way to bank, save, and invest. It’s one of the more popular cash advance apps available, offering up to $250. If you need a comprehensive solution to managing your money and investments while limiting downloads, look no further than the multifunctional Albert app.

» Sign up for Albert today here!