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:
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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:
SoFi Money – $50 or $400
SoFi Money will give you $50 or $400 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.
U.S. Bank – up to $450
Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through 9/8/2026. Member FDIC.
Get started with an initial deposit of $25 within 60 days. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.
BMO Checking – $400 cash bonus
BMO is offering a $400 cash bonus bonus* when you open a BMO Checking account and have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening. It is a very straightforward offer that is available nationwide.
*Conditions apply
Capital One 360 Checking – $250
Capital One 360 has a $250 cash bonus when you open a new account and then receive two direct deposits each of $500 or more within 75 days of account opening. Valid for new 360 Checking account customers. If you had a If you had a 360 Checking, Simply Checking, or Total Control Checking account with Capital One on or after January 1, 2022, you are ineligible.
As you can see, the bonus that Albert offers is comparable to many of the ones on this list.
Looks like the cashback reward on spending now requires Genius subscription, which is at least $6/mo. Not sure why they say “pay what is fair” for Genius but still have a minimum fee. Very unlikely anyone would pay more than the minimum.