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Unifimoney account review

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This all-in-one account includes saving, spending and investing, but it’s only free for high earners.

Unifimoney is an ambitious new fintech app that aims to replace your checking, savings and brokerage accounts. The company also plans to launch a credit card in the coming months. But the app is for high-income individuals who can deposit $6,000 a month or maintain a balance above $35,000 to avoid monthly fees. Plus, it’s currently only available on Apple devices.

$10 per month

Fee

0.20%

APY

$100

Minimum deposit to open

Details

APY0.20%
Fee$10 per month
To waive the feeWaived for the first 90 days. After that you’ll need to deposit at least $6,000 in your account each month or maintain at least $35,000 in total deposits/investments (including Crypto and Precious Metals).
Minimum deposit to open$100
Intro or bonus offerDeposit between $1,000 and $100,000 within 14 days to earn a Bitcoin Reward of $25 to $1,000.
ATMsFree at hundreds of UMB ATMs and any of the 55,000 Allpoint ATMs across the US
Out-of-network ATM fee$0.75
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Review by


Michael Benninger is a staff banking writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Business Insider and the Los Angeles Times. Michael is passionate about all facets of personal finance and has written hundreds of articles about money management during the past decade.

Expert review

Unifimoney is best for high-earning individuals interested in investing. It aims to be the only account you need to manage all your finances, and, for the most part, it delivers. When you open a Unifimoney account, you’ll get access to a high-yield checking account and a comprehensive investment platform that includes two robo-advising options, commission-free trading of equities and ETFs, plus access to crytpocurrencies and precious metals. Later this year, you’ll also have the option to apply for a premium cashback Visa credit card that earns rewards in Bitcoin, gold or equities.

Unifimoney offers a higher interest rate at 0.2% APY and better rewards than most other cash management accounts. But there’s a $10 monthly fee. The fee is waived for the first 90 days, but the only way to avoid after that it is to deposit $6,000 each month or keep at least $35,000 in your account. The account is currently only available to Apple users, and you need to be at least 21 years old to open the account.

If you can’t meet the strict requirements to avoid the fee, consider a free cash management account like SoFi Money, which earns 0.25% APY and up to 15% in cashback rewards on everyday expenses.

How do I open a Unifimoney account?

You can only open a Unifimoney account through the app, which is currently only available on Apple devices.

  1. Click Apply now.
  2. Download and install the app from Apple’s App Store.
  3. Launch the app and read and accept the various terms, agreements, disclosures and privacy policies.
  4. Enter your mobile phone number and tap Next, then enter the code sent to your device.
  5. Enter your email address, and continue setting up your account.

Eligibility

To open a Unifimoney account, you must meet the following requirements.

  • At least 21 years old
  • Citizen or lawful permanent resident of the United States

Required information

You’ll need to provide the following information when opening an account.

  • Full name
  • Email address
  • Mobile phone number
  • Social security number
  • Government-issued photo identification
  • External account details to transfer at least $100

What are the benefits of a Unifimoney account?

There are a few benefits associated with opening a Unifimoney account.

  • Comparatively high APY. The Spend account earns 0.2% APY, which is higher than most cash management accounts, including ones offered by Fidelity, Prudential and TD Ameritrade, which each only earn 0.01% APY.
  • Alternative assets. Unifimoney lets you add precious metals and a full range of cryptocurrencies to your portfolio.
  • Discounts and cashback. Unifimoney also offers discounts or cash back on other services including auto loans, mortgages, insurance policies and student loan refinancing.
  • Integrated bill pay. Some cash management accounts like Betterment, Robinhood and Wealthfront don’t have integrated bill pay, but with Unifimoney, you can directly pay more than 20,000 merchants using their bill-pay service.
  • Bitcoin rewards. Unifimoney offers five tiers of Bitcoin rewards based on your initial deposit.

Unifimoney Bitcoin Rewards

Unifimoney offers five tiers of Bitcoin rewards as incentives to sign up for an account. Here’s a breakdown of the initial deposits and their corresponding rewards.
TierInitial depositBitcoin Reward LevelPeriod
1$1,000$2530 days
2$10,000$10030 days
3$20,000$25090 days
4$50,000$50090 days
5$100,000+$1,00090 days

What should I look out for?

Unifimoney also has several drawbacks you should keep in mind before opening an account.
  • Stringent monthly fee requirements. To avoid the $10 monthly fee, you’ll need to deposit at least $6,000 in your account each month or maintain an account balance of $35,000 or more. However, the fee is waived for the first 90 days of account opening.
  • Age requirement. Most other cash management accounts are open to anyone age 18 and above, but you must be at least 21 to use Unifimoney.
  • Opening deposit. You’ll need at least $100 to open the account.
  • iOS only. You can only use this account if you have an iPhone, iPad or iPod Touch. But Unifimoney plans to launch and Android app later this year.
  • Investing is required. By default, Unifimoney automatically reinvests interest from your Spend account, dividends from your investments and cash back from the credit card. You can adjust the level of the contribution you want to make, but it will automatically draw $25 from your spend account each month.
  • No phone support. You can’t call Unifimoney directly, but you can call its partner bank, UMB, at 888-909-0586. For support from Unifimoney, you’re limited to emailing info@unifi.money.

Is Unifimoney safe?

Yes. The FDIC backs uninsured funds kept in your Unifimoney account for up to $750,000 — three times the amount offered by most savings accounts. But it’s not as much as is offered by some other cash management accounts, including Robinhood and SoFi Money, which are FDIC insured for up to $1.25 million and $1.5 million, respectively.

Unifimoney reviews and complaints

Unifimoney isn’t accredited by the Better Business Bureau (BBB), and it has no reviews or complaints on the BBB’s website. On Trustpilot, Unifimoney has an average rating of 4.3 out of 5 stars, but that is based on just seven customer reviews.

Unifimoney‘s ATM network and fees

Your Unifimoney account comes with a Visa debit card you can use for free at hundreds of UMB ATMs and any of the 55,000 Allpoint ATMs across the US. If you use an out-of-network ATM, Unifimoney charges $0.75 in addition to whatever the owner of the ATM charges. Unlike several other cash management accounts, including Betterment, UBS, and TD Ameritrade, Unifimoney doesn’t offer ATM reimbursements.

Compare Unimoney with other cash management accounts

Compare today’s leading cash management accounts based on their fees, features and ATM networks.

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Aspiration Spend & Save Account
Finder Rating: 3.8 / 5: ★★★★★
Aspiration Spend & Save Account
Up to 1.00%
$10
55,000 free in-network ATMs
$0
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
SoFi Money
Finder Rating: 4.6 / 5: ★★★★★
SoFi Money
0.25%
$0
$0
SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.
Robinhood Cash Management
Finder Rating: 4.3 / 5: ★★★★★
Robinhood Cash Management
0.30%
$0
15,000 international ATMs for free + 75,000 ATMs in the US
$0
This brokerage account feature offers interest and no monthly fees but Robinhood support is only available by email.
Betterment Checking
Finder Rating: 3.8 / 5: ★★★★★
Betterment Checking
N/A
$10
No access to ATMs
The Betterment Checking account has no fees or minimums and unlimited ATM reimbursements.
Morgan Stanley CashPlus
Finder Rating: 3.5 / 5: ★★★★★
Morgan Stanley CashPlus
N/A
more than 2 million ATMs worldwide
Morgan Stanley’s CashPlus accounts offer several benefits for the investment firm’s existing clients.
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Compare up to 4 providers

How do I deposit or withdraw my money?

You can move money into or out of your Spend account in the following ways.

Funding

  • Direct deposit. Your employer can deposit your paycheck directly into your Unifimoney account.
  • Incoming ACH transfer. Link an external bank account and transfer funds at any time.
  • Incoming wire transfers. Most CMAs let you accept incoming wire transfers for free, but Unifimoney charges $12 for wires.
  • Mobile deposit. You can use the Unifimoney app and your device’s camera to deposit paper checks into your account.
  • Mail. Unifimoney accepts cash or checks via postal mail.

Withdrawals

  • ATM. You can withdraw funds from any ATM that accepts Visa cards.
  • Outgoing ACH transfer. Transfer funds to a linked external bank at your convenience.
  • Wire transfers. You can send outgoing wire transfers for $12, which is less than what several other cash management accounts charge.
  • Write checks. You can write checks from your account, but they aren’t free. A book of 20 checks costs $7.
  • Bill pay. You can directly pay thousands of merchants from your Unifimoney account.

What rewards does Unifimoney offer?

Unifimoney currently offers the following discounts and rewards.
  • Make an initial deposit of $1,000 or more and receive a $25 Bitcoin reward.
  • Make an initial deposit of $10,000 or more and receive a $100 Bitcoin reward.
  • Get a $25 Bitcoin reward for up to 40 qualified referrals.
  • Receive a $15 Bitcoin reward when you get a quote for auto insurance.
  • Refinance your student loan and receive 1% cash back, up to $2,500.
  • Get a mortgage of $5 million or less and receive a 0.5% discount, up to $10,000.
  • Refinance your mortgage and get 0.5% discount, up to $10,000.
  • Get approved for an auto loan and receive 0.5% cash back, up to $500.
  • Get approved for a vehicle loan and receive 0.5% cash back, up to $500.
  • Get approved for a home improvement loan and receive 1% cash back, up to $1,000.

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