Make your cash work overtime
Make your cash work overtime
Earn 3.00% APY1 with no minimums. Build up your cash account and access your money whenever you want or need it.
Your everything account
Easy access like a checking account. Better returns than the average savings account. Empower Personal Cash puts your money to work.
Power your plan with cash
Your cash account connects to the Empower Personal Dashboard™, where you can use tools to budget, pay down debt, and plan for the future.
Save for what matters
Speed up your savings for emergencies, education, vacations, and more.
Better returns with a higher APY
Your money works hard for you with a 3.00% APY — 7x higher than the average savings account.5 Boost your account up to a 3.30% APY with qualifying deposits.6
Easy, safe, and secure access
Get your cash when you need it
Withdraw up to $100,000 a day, with unlimited transfers and no account fees.
A secure way to grow your cash
Enhanced FDIC insurance up to $5 million3 from a network of trusted program banks.
Put your money to work
Invest, pay bills, or even connect to payment apps.
FAQ
FAQ
Empower Personal Cash is a cash management account that includes a blend of checking and savings features. It offers a higher interest rate on your cash than you might earn in a traditional checking or savings account.
We work with UMB bank to offer this account. UMB and a network of program banks provide up to an aggregate of $5,000,0003 in FDIC insurance coverage, far greater than the standard $250,000 any single bank can offer.
Empower receives a fee from UMB Bank for providing and maintaining the platform for the program.
You can easily deposit and withdraw money through your Empower Dashboard via our website and mobile app.
The standard rate for Empower Personal Cash account is 3.00% APY.1 If you make qualifying direct or recurring deposits of $750 a month or more from the same source, you can qualify for the premium 3.30% APY.6
Connect an external bank account to your Empower Personal Cash account to fund your new cash account. Then go to the Empower Personal Cash page on your dashboard and select Manage Account. From there, select Transfer Funds to make deposits and withdrawals.
No. There is no minimum daily balance requirement.
To open an account, you must be a U.S. citizen or a resident alien residing in the U.S., age 18 or older, and not be subject to IRS backup withholdings.
Yes! Simply provide your Empower Personal Cash account number and routing number to your payroll provider or HR department to start making direct deposits. When needed our support team at [email protected] can provide you with a voided check on Empower letterhead.
You can find the account and routing number in your Empower Personal Cash account online or by contacting customer support at [email protected].
There are no limits on how many deposits or withdrawals you can make. The maximum deposit limit per transaction is $250,000. The daily withdrawal limit is $100,000 after your account has been opened and funded for at least 60 days or immediately if you are Personal Strategy client. Otherwise, the limit is $25,000. For security reasons, there may be other limits on the amount, number, frequency, or destination of deposits or withdrawals you can make.7
Yes! As long as the app allows you to link manually using a routing number and an account number, you can set up your Empower Personal Cash account on any payment apps.
We’re working on it! If you’re looking for something specific, drop us a line at [email protected].
Interest accrues daily and is paid monthly on the first business day of the month. Interest will be paid by program banks into the program accounts and will be reflected in your customer account. Interest begins accruing once your funds are transferred into the program banks, generally within 2-3 business days after a deposit is initiated.
Multilayered security and data privacy
Industry-standard encryption, multifactor authentication, and fraud protection help keep your assets and information safe.
