The Albert Cash Card and app provide a modern approach to banking and money management. This Albert review covers the key features, fees, security, and overall value of using Albert’s finance tools.
What is Albert Cash Card?
Albert is a fintech company that offers a unique debit card and money management app. The Albert debit card and bank account are issued by Evolve Bank and Trust.
Albert app syncs with your bank accounts and credit cards to provide budgeting tools, bill pay, savings features, and cash flow insights. The Albert Cash Card itself acts as a debit card to access your Albert bank account balance and make purchases.
Some key things to know about Albert:
- Fintech app and debit card to manage finances
- FDIC insured bank account and debit card
- Budgeting and money management features
- No monthly fees or minimum balances
- Access to 30,000+ ATMs fee-free
Albert App Features and Tools
The Albert app is designed to help you better manage cash flow, save money, and gain control of your finances. Here are some of the main features available:
Spending Overview and Insights
Albert automatically analyzes income, bills, recurring payments, and other transactions across your linked accounts. The app provides charts and graphs to visualize spending.
Albert will flag unusual spending and send notifications if you go over budget in a category. This helps you stay on top of cash flow in real time.
You can use Albert’s budgeting tools to plan spending in each category. Set budgets for groceries, dining out, entertainment, transportation, and any other expenses.
The app sends alerts when you approach these budget limits. You can also set savings goals and track progress over time.
Albert lets you pay any bill right from the app. Add billers by searching companies or inputting details manually.
You can schedule one-time or recurring payments to ensure bills are always paid on time. Albert will notify you of upcoming due dates as well.
Early Direct Deposit
One unique Albert feature is Early Direct Deposit. This lets you access your paycheck up to 2 days early when deposited into your Albert account.
This gives you faster access to funds in emergencies or when bills come due before payday. It works by using historical data to predict when deposits will post.
Automatic Savings Tools
Albert has tools to help automate saving money. You can set percentage-based rules to automatically transfer a portion of deposits or transactions into your Albert Savings balance.
For example, you could save 10% of each paycheck, round up purchases to transfer the change, or save $5 anytime you spend at a coffee shop.
Cash Flow Forecasting
Albert uses A.I. and algorithms to forecast your cash flow weeks and months into the future. This helps you predict whether your income will cover upcoming bills and expenses.
You can see projections for your safe-to-spend amount over time. Albert’s forecasts factor in income, scheduled transactions, and your historical spending.
Albert Bank Account Details
The Albert app includes an FDIC-insured bank account and debit card issued by Evolve Bank & Trust. Here are some details on the Albert bank account:
- No monthly account fees or minimum balance
- Access to over 30,000 AllPoint ATMs nationwide fee-free
- FDIC insured up to $250,000
- Early paycheck deposits up to 2 days early
You also get a free Albert debit card when you open an account. This Mastercard gives you access to your Albert account balance. You can use it to withdraw cash at ATMs or make purchases anywhere Mastercard is accepted.
Is Albert Cash Card Secure?
Albert uses advanced security measures to keep your money and personal data safe. Here are some of the main security features:
- 256-bit SSL encryption secures all transactions and connections
- Account monitoring to detect fraudulent activity
- Zero fraud liability protection from Mastercard
- Biometric sign-in options like fingerprint or face ID
- Strong data encryption and physical security measures
- FDIC insurance protects balances up to $250,000
Albert only links read-only access to your other accounts as well. This prevents any external accounts from being compromised. Overall, Albert provides excellent security for a digital banking app.
Albert Cash Card Fees
Albert aims to provide premium features with as few fees as possible. Here is a breakdown of the main Albert fees:
- No monthly account fees
- No minimum balance fees
- No overdraft fees
- No wire transfer fees
- No foreign transaction fees
- Free access to AllPoint ATM network
- Potential out-of-network ATM fees apply
The only real fees to watch are if you use an ATM outside of Albert’s 30,000+ free AllPoint locations. You’ll pay the ATM operator fee, which averages around $3 nationwide.
But with so many no-fee ATM locations, it’s easy to avoid non-Allpoint ATM charges. Overall, Albert offers very low-cost banking services.
Pros and Cons of Albert Cash Card
Here is a quick rundown of the main advantages and potential disadvantages to using Albert Cash Card:
- Innovative app with budgeting and saving tools
- No monthly account fees or minimums
- Early direct deposit capabilities
- Free access to 30,000+ ATMs
- FDIC-insured account and Mastercard
- Excellent security and fraud protection
- Generally no overdraft, foreign transaction, or wire transfer fees
- No physical branch locations
- No option to deposit cash
- Limited customer service availability (chat and email only)
- Potential ATM fees at non-Allpoint locations
- Lower interest rates on savings balances
Who is Albert Cash Card Best For?
Albert Cash Card is ideal for a few types of users:
- Tech-savvy consumers who prefer digital banking
- Those who travel frequently and need ATM access
- People needing help budgeting and managing spending
- Anyone seeking basic banking with minimal fees
- Users comfortable with chat and email customer service
The app interface and digital nature make Albert less ideal for those who prefer in-person banking and customer support. But overall, Albert provides significant value with robust tools for the average consumer.
Is Albert Cash Card Legit?
Yes, Albert Cash Card is a legitimate FDIC-insured bank account and debit card. The Albert banking services are provided by Evolve Bank & Trust, so your money is secure.
Albert is regulated like any other bank and must follow federal laws and regulations. User deposits are protected by FDIC insurance up to $250,000.
The app itself is also secure, using encryption and other measures to protect your personal data and transactions. Overall, Albert offers the safety and peace of mind you expect from a banking provider.
Can I Withdraw Cash from My Albert Card?
Yes, the Albert debit card allows you to withdraw cash from ATMs in their AllPoint network fee-free. With over 30,000 participating ATMs nationwide, you’ll never be far from an in-network location.
To withdraw cash, simply insert or tap your Albert debit card at any AllPoint ATM, enter your PIN, and select the withdrawal amount. You can take out up to $500 per 24 hours from Albert ATMs.
The only potential fees would be if you use an out-of-network ATM. You’d pay the operator surcharge in that case, which averages $3 per withdrawal. As long as you stick to AllPoint ATMs, you can access cash easily with no fees.
Does Albert App Really Give You $250?
When you open a new Albert account, the app provides a $250 cash bonus when you meet certain criteria. Here are the details:
- Open an Albert Cash Card account
- Deposit at least $100 into your Albert account
- Connect a direct deposit source and receive a qualifying direct deposit of $250 within 45 days
Once the above steps are completed, Albert will deposit a $250 cash bonus into your account within a few business days. This offer is only for new Albert customers.
The bonus cash does require you to activate and use your account, including setting up a direct deposit. As long as you meet the requirements, Albert will provide the $250 deposit straight to your cash balance.
What Bank Does the Albert Card Use?
The Albert Cash Card uses Evolve Bank & Trust as the issuing bank and account provider. While Albert provides the app, budgeting tools, and card management, the underlying bank account and card services are through Evolve.
Evolve Bank & Trust is an FDIC-insured financial institution headquartered in Memphis, Tennessee. They partner with various fintechs and digital banking providers like Albert to offer banking services.
Your Albert card transactions ultimately access the same banking infrastructure as Evolve’s accounts. And Evolve issues the 16-digit card number and manages the card itself. But the seamless Albert app experience makes this backend partnership invisible to the user.
So in summary, the Albert Cash Card relies on Evolve Bank & Trust for the banking services, debit card issuance, and account management behind the scenes. But Albert’s technology and app provide the front-facing experience.
Albert Cash Card aims to make banking stress-free and provide some unique money management features. The lack of monthly fees, early direct deposit, extensive ATM network, and innovative app tools are significant perks. Security is also top-notch.
For managing income, bills, savings, and spending, Albert can provide plenty of useful insights and automation. Just be aware that Albert is an online-only banking solution before diving in.
But if you embrace digital-first finance, the Albert Cash Card and app offer a lot of advantages. Hopefully this Albert review gives you the details to decide if their banking services are a good fit for your needs.