Twine app review, fees and rates September 2019 |

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Twine app review

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A saving and investing tool designed to help couples reach individual and joint goals.’s rating: 4.6 / 5.0


Developed by John Hancock, Twine offers savings and investment options to help you and your partner tailor your strategy for short and long term goals. But it doesn’t offer cash deposits and can take up to three days to access your money.


Annual fee


Minimum deposit to open


Annual fee0.6%
Minimum deposit to open$100
Available asset typesStocks
Twine Twine

Get a $5 bonus when you sign up for your first goal

Offer valid for new Twine users and limited to one bonus per user. Bonus funds will be deposited into your account 7 days after your account has a positive balance for 14 days.

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Benefits of Twine savings

Twine‘s free savings account has low minimums and fees, and pays a competitive interest rate. Here’s what makes it stand out from the competition:

  • No fees. The Twine savings account is free to open and charges no monthly service fees.
  • Earn interest. Earn a variable 1.05% APY on your balance — more than many other savings accounts offer.
  • Access when you need it. Use the dashboard or mobile app to access your money anywhere.
  • Low minimum balance. You can open an account with as little as $5 and you won’t pay fees for low balances.
  • Security. Twine uses bank-grade encryption and is covered by both FDIC and Securities Investor Protection Corporation (SIPC).
  • Savings goals. Set up as many individual or joint savings goals as you’d like.
  • Set it and forget it. Set up recurring deposits from other bank accounts to build a saving and investing habit that can help you reach your financial goals.

What should I look out for?

The Twine savings account offers strong features with virtually no fees, but there are still a few things to look out for:

  • Limited transactions.Like other savings accounts, this account is limited to six monthly transactions or transfers per month.
  • No branches. Twine operates entirely online, so you won’t be able to visit a branch for assistance.
  • No cash deposits. Since Twine doesn’t have ATMs, you won’t be able to make cash deposits.
  • No ATM card. Unlike some other savings accounts, the Twine savings account doesn’t come with ATM access.
  • Withdrawal wait times. You’ll usually have to wait two to three business day to process your withdrawal.

Benefits of Twine investing

Once you’re ready to invest, Twine uses robo-advising to diversify your money in a mix of ETFs. Its dashboard allows you to easily manage your money, which is protected by FDIC and SIPC. Other benefits include:

  • Few fees. Other than ETF management fees, the only fee you’ll pay is 25 cents monthly for every $500 in your account, which works out to 0.6% annually.
  • ETFs. Twine invests your money in a diversified portfolio with a selection of stocks and bonds.
  • Personalized. Your investment portfolio reflects your risk tolerance, preferences and more. Plus, you can set up custom recurring deposits to grow your savings faster.
  • Dividends. Some ETFs pay cash dividends that are moved into your savings account.
  • Goals. Create individual or joint goals to save for short and long term financial plans.

What should I watch out for?

While Twine is a unique platform that encourages couples to work together, it does have a few drawbacks:

  • Online only. You can only access your portfolio online or on the app — there are no physical branches.
  • Slightly higher fees. Twine‘s 0.6% annual fee is slightly higher than some of its competitors.
  • No retirement accounts. Unlike some other robo-advisors, Twine doesn’t allow you to open retirement accounts.
  • Minimum opening deposit. To move from the savings to the investment account, you’ll need to have a balance of at least $100.
  • ETF fees. Twine only charges a 0.6% management fee for invested accounts, but the underlying ETFs in your portfolio may charge small fees.
  • No human advice. While you can get personalized tips and investment advice from Twine‘s algorithms, there’s no human financial adviser to assist you.

Compare Twine to other options

Name Product Minimum deposit to open Available asset types Annual fee
Automated pure equity investing to help you achieve your goals. Free portfolio management for the first six months.
Put your money to work. Pay zero SoFi management fees.
0.25% on balances up to $99,999

0.15% on balances of $100,000+
Betterment's automatic investment site aims to improve your returns and support good financial habits with passive investing and financial planning support.
Index funds
Wealthfront builds a free financial plan for the life you want and automate your investments at a low cost.
No advisory fees for automated investing that's professionally managed. Now with a Socially Responsible Investing portfolio option.
$1 per month
Invest your spare change. Anyone can grow wealth.

Compare up to 4 providers

Name Product Interest rate (APY) Fee Minimum deposit to open
Enjoy no monthly fees and a competitive APY with this online-only savings account.
Earn 20x the national savings account average with no fees or minimums.
$5 per month
(can be waived)
Get a $150 bonus when you open a new Chase Savings account, deposit a total of $10,000 or more in new money within 10 business days and maintain a $10,000 balance for 90 days.
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
Betterment Everyday Savings
Betterment Everyday Savings
At a 2.38% APY if you join the waitlist for Betterment Everyday Checking or 2.13% if you don't, this is a high-interest FDIC-insured savings account seamlessly tied into Betterment's investment robo-advisor.
Earn one of the highest interest rates without the fees.

Compare up to 4 providers

How much does Twine cost?

The service doesn’t charge many fees, but there are still a few you should look out for:

Type of feeSavings accountInvestment account
OtherWire transfers, paper statements, insufficient funds (varies)ETF fees (varies)

How do I fund my Twine account?

There’s only one way to fund your Twine account, and that’s by linking your bank account, which is required during the application process.

How do I apply?

Twine operates entirely online, so the application process begins on the Twine website:

  1. Click Sign up in the top right corner.
  2. Enter your email address, create a password and click Next.
  3. Enter your phone number and click Send verification code.
  4. Enter the five-digit verification code.
  5. Select your avatar, then click Next.
  6. Link your bank account.
  7. Enter any other requested information and adjust your preferences.
  8. Your application is complete.


To open either type of account, you’ll need to meet a few eligibility requirements:

  • US Social Security number
  • US mailing address
  • US citizen
  • Social Security number
  • At least 18 years old

Required information

Whether you apply online or on the app, you’ll be asked for the following information:

  • Email
  • Social Security number
  • Government-issued ID
  • Investment preferences and goals

How can I get in touch with customer service?

You can contact Twine customer service using:

  • Email:
  • Instagram: @Twine
  • Facebook: Twine USA
  • Twitter: @Twine

I’ve signed up. Now what?

Now that your account is open, here’s how you can get the most out of it:

  • Review your investment preferences. Line them up with your risk tolerance, income and goals.
  • Log in. Use the online dashboard or mobile app to monitor and manage your accounts.
  • Set up investment goals. Set up as many individual or joint investment goals as you need.
  • Recurring deposits. Set up recurring deposits from one or both of your linked accounts to reach your savings goals faster.

Bottom line

Unlike other robo-advisors, couples can organize their money according to joint short and long term financial goals. Plus, you can create individual goals and fund them manually or with recurring deposits.

However, you can’t open a retirement account and investing is done solely online. Compare your options to find the robo-advisor that meets your needs.

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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