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But it’ll cost you to use it. Expect to pay $60 a year, which is equivalent to $5 a month.
$60 per year
Fee
0.50%
APY
$0
Minimum deposit to open
APY | 0.50% |
---|---|
Fee | $60 per year |
Minimum deposit to open | $0 |
Intro or bonus offer | a free trial for 30 days |
ATMs | No access to ATMs |
ATM transaction fee | $0 |
Out-of-network ATM fee | $0 |
Foreign transaction fee | 0% |
Overdraft fee | $0 |
Nonsufficient funds fee | $0 |
New account fee | $0 |
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Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.
Through its savings goals program, you’ll also earn 0.5% APY. But the interest will only get paid out to you every three months. If savings is what you’re after, you’ll want to consider opening a seperate savings account.
Also, before signing up, make sure your bank or credit union is available through Paid as some smaller financial institutions can’t be linked to your Honeyfi account.
Get started in five steps:
If you want to set a savings goal, you’ll need to link a checking account. You can fund your Goals account with one-time deposits or set up automatic transfers.
Here are a few Honeyfi advantages and limitations.
Yes. Honeyfi uses Plaid, a financial services company, to securely connect your bank to the app. Plus, it’s savings goals program helps users save by storing their funds in an FDIC-insured bank account.
Compare Honeyfi with other savings apps by monthly fee and platform.
What happens if I have an automated transfer to my Goals account, but I don’t have enough in my checking account?Honeyfi makes sure that you have enough funds to cover the transfer and at least $150 remaining before initiating a transfer to your Goals account.