Albert is a personal finance app that helps you better manage your finances and banking services are provided by Sutton Bank, Member FDIC. So while not a bank, your money is protected through Sutton Bank on up to $250,000 – just like a traditional bank.
Albert offers a lot of perks to its users including a spend (called “Cash”) and save account, investing, and more. They also offer a Genius service where technology and human beings can give you personalized money advice (the fee for this is what you choose to pay – “pay what’s fair”).
I want to highlight the Cash account because it offers some perks above and beyond most “checking” accounts. If you direct deposit your paycheck, you can get access to it up to 2 days ahead of time. There’s also rewards on your spending and even fee-free cash advances up to $250.
It’s an all around solid account but they also have a bonus offer on the table to sweeten the deal:
How to get $150 from Albert
The promotional offer from Albert is quite generous and fairly routine. To get the $150 cash, you just need to receive a qualifying direct deposit of at least $200 and spend at least $100 on goods and services every 30 days for 90 consecutive days with your Albert debit card.
The only notable part about the requirement is that you have to reach the modest spend tiers for 90 days – it’s not difficult but you don’t want to forget.
The account has no monthly fees so you don’t have to worry about keeping a minimum balance. Once you receive the bonus, there are no spend requirements either.
The only notable fee is the $2.50 for ATMs, whether in-network or out-of-network.
How Does This Offer Compare?
It’s pretty good considering the low dollar amount of the direct deposit. The spending requirement is really low too but something you have to remember. I think it’s a good bonus amount for easy to reach requirements.
By comparison, here are some other offers we feature:
Citi Priority Account – $300, $700, or $1,500
Citi Priority is offering $300, $700, or $1,500 bonus when you open an account by 7/17/2022. Then, within 20 days of opening your account, deposit at least $15,000 in New-to-Citi funds and keep it there for 60 days after the 21st day. The bonus amount is based on how much you can transfer but the lowest tier starts at $15,000.
Discover Online Savings Account – $150 or $200
Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH222 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.
Chase Total Checking® – $200
Chase Bank will give you $200 when you open a Total Checking account and set up direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
SoFi Money – up to $300
SoFi Money will give you up to $300 if you open an account and make direct deposits of at least $1,000. The bonus will be based on the total amount of those direct deposits in a 30-day evaluation period.
HSBC Premier Checking – $450
HSBC has an offer where you can get $450 for eligible new customers who open an HSBC Premier checking account and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.
Huntington Bank – up to $300
If you are a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin then you could get up to $300 from Huntington Bank for opening a new checking account. There are several checking accounts that qualify but they’re great offers if you live in their geographic region.
TD Bank – $300 or $150
TD bank has two bank offers for checking accounts and both are fairly easy to attain. For example, get $300 when you open a TD Beyond Checking account and receive direct deposits of $2,500 or more within 60 days of opening your account.
As you can see, the bonus that Albert offers is comparable to many of the ones on this list.