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:
Editor’s Note: As of April 14th, 2023, Albert is no longer offering this new account bonus. For other bank bonuses, check out our post on the best bank bonuses and promotions or click here to sign up for our email newsletter and get notified of new bank promotions.
How to get $150 from Albert [EXPIRED]
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 $500 within 45 days and spend at least $200 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:
⭐ BMO Smart Advantage Checking – $400
BMO Bank is offering a $400 bonus* when you open a BMO Smart Advantage Checking and when you have a total of $4,000 or more in qualifying direct deposits within the first 120 days. It is a very straightforward offer that is available nationwide.
⭐Citi Priority Account – up to $2000
Citi Priority is offering up to $2000 bonus when you open an account by 1/9/2024. Then, within 20 days of opening your account, deposit at least $10,000 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 $10,000.
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 WH923 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.
Bank of America – $200 Bonus Offer
Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $200
Chase Bank will give you $200 when you open a Total Checking account and set up and receive a 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!
As you can see, the bonus that Albert offers is comparable to many of the ones on this list.