Before Ellevest launched its membership plans in June 2020, we offered an “Emergency” goal as part of our investing platform. Today, that goal has been replaced by the two banking accounts included in your membership: one for spending, and one for saving.1
With our Ellevest Save account, you can choose to automatically round up the change from the purchases you make with your Ellevest Spend account. That way, you can work on saving for your short-term goals faster and sooner.2 You can learn more about our banking accounts here.
If you’re an Ellevest Digital client who has not yet switched to membership and you already have an existing Emergency goal, you can still keep it! The assets held in your Emergency goal are held in FDIC Cash — that way, you aren’t taking any investment risk with your emergency money. Please note that we don't charge a management fee for these assets.
1. Banking products and services are provided by Coastal Community Bank (“Coastal”), Member FDIC, pursuant to license by Mastercard International.
2. If you opt in to the Roundup Program for debit card purchases, each settled (i.e. fully completed) purchase transaction made with your Ellevest Debit Card will be rounded up to the nearest whole U.S. dollar. The Roundup amount will be transferred from your Ellevest Spend account to your Ellevest Save account. Foreign purchases are rounded up to the nearest whole dollar after the purchase is converted to U.S. dollars. ATM withdrawals and transactions in whole US dollars, e.g. $20.00 are excluded from the Roundup program. If, at the time of settlement of a purchase, your Ellevest Spend Account has insufficient available funds to cover the full amount of the Roundup transfer, the Roundup Transfer will not be made.
If a purchase is canceled or reversed for any reason (including disputes), the corresponding Roundup Transfer will not be reversed. You can opt out of the Roundup Program at any time.
Comments
0 comments
Article is closed for comments.