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Personal Capital Cash Savings account review

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Earn 1.8% on your deposits, but you can only transfer money online.

Best known for its money management tools and human-assisted robo-advising, Personal Capital now offers a high-yield savings account called Cash. There are no deposit requirements, monthly fees or transaction limits, but you can only access money via ACH transfer and customer service is limited.






Minimum deposit to open


Minimum deposit to open$0
Minimum balance to earn interest$0
Interest compoundingDaily
More Info

What are the benefits of the Personal Capital Cash Savings Account?

With an accelerated signup and APY bonus for existing clients, this account is best suited for those who use Personal Capital. However, its perks are available to everyone:

  • High APY. You’ll earn a respectable 1.8% APY with this account, or 2.35% if you’re an existing client.
  • No deposit requirements. Start saving with as little as $0 and earn interest on all balances.
  • No fees. There are no monthly fees to keep this account open.
  • Unlimited transactions. Unlike most other savings accounts, there are no limits on how many transactions you can make per month.
  • Up to $1.25M in FDIC insurance. Your deposits are spread across five institutions, allowing for up to $1.25 million in FDIC-insured money.

What should I look out for?

As with any account, there are a few potential drawbacks to watch out for:

  • Limited customer support. Customer service is only available on weekdays from 5 a.m. to 6 p.m. PT.
  • ACH transfers only. You won’t get a debit card or be able to make wire or phone transfers.
  • Not a traditional bank. There are no branches, ATMs or other banking products. Plus, you won’t be able to open a joint or trust account.
  • Few reviews. This account has only been out for a limited time, so there aren’t many customer reviews.
  • Bank sweep. Unlike most banks that store your money on site, your funds are spread between up to five banks. This could increase transit time if you need to make a deposit, withdrawal or transfer.
  • Pressure from financial advisers. Many users mention receiving multiple phone calls offering financial advising services after signing up for an account.
  • Three-day hold. Any deposits won’t be available for withdrawal for up to three business days, which is longer than the standard of one business day or less.

How do I apply?

The Personal Capital Cash account is only available online, but you can apply within minutes:

  1. Visit the Personal Capital website and click Earn More Today.
  2. Click Earn More Today again.
  3. Enter your email and phone number, create a password and click Earn More Today a third time.
  4. Click Text My Phone or Call Me Instead and verify the four-digit security code.
  5. Hover over Banking and click Open an Account.
  6. Click Earn More Now.
  7. Fill in your contact information and click Continue.
  8. Fill in your identity information, agree to the terms and click Continue.
  9. Review account details and submit your application.


  • At least 18 years old
  • Valid Social Security or Tax Identification number
  • US citizen or resident alien
  • Valid passport or state-issued ID
  • Not be subject to backup withholding by the IRS
  • Phone that’s capable of receiving SMS

Required information

  • Name and birthdate
  • Contact information such as address, email and phone number
  • Social Security or Tax Identification number
  • Government-issued ID

How do I deposit or withdraw money?

This online account only allows you to deposit and withdraw money using ACH transfers, which must be initiated from your account dashboard.

How do I contact Personal Capital customer service?

There are three ways you can get help with your account:

  • Call. Speak with a representative at 855-855-8005, weekdays from 5 a.m. to 6 p.m. PT.
  • Message. Log in to your account to send a message.
  • Mail. Visit the contact page to find mailing addresses.

Bottom line

The Personal Capital Cash Savings Account offers a competitive 1.8% APY with no deposit requirements, monthly fees or transaction limits. However, you can only transfer money online by ACH and there are no physical branches.

If you don’t think this account is right for you, compare other options to find a better fit.

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