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Green Dot and Wealthfront Extend Partnership to Simplify How Young Professionals Maximize Savings and Build Wealth

December 19, 2022 -- Wealthfront’s award-winning Cash Account offers 3.80% APY, up to $2 million FDIC insurance through partner banks, and seamless checking features powered by Green Dot Bank, member FDIC.

Green Dot Corporation (NYSE: GDOT), a digital bank and fintech enabling powerful banking and payment solutions for businesses and consumers, and Wealthfront, an industry-leading automated wealth management provider serving the next generation of investors, have extended their partnership that provides seamless checking features and money movement for Wealthfront’s award-winning Cash Account.1

Wealthfront began partnering with Green Dot in 2020 to offer Cash Account clients seamless access to checking features. Those features include the ability to receive direct deposits up to two days early, pay bills, send and deposit checks, and easily access cash at a nationwide network of ATMs through a debit card. The Wealthfront Cash Account requires just $1 to get started and comes with a 3.80% APY, zero account fees, unlimited free transfers, automated saving features including customizable cash categories, near-instant transfers into Wealthfront’s Investment Accounts, and up to $2 million in FDIC insurance through partner banks.

“Today’s investors want smart saving and investing products that help them build wealth in all market conditions, which is why we’re proud to offer the Cash Account to help our clients earn more on their uninvested savings,” said Dave Myszewski, VP of Product at Wealthfront. “With one of the highest rates on the market plus checking features powered by Green Dot, we’re able to provide a best-in-class Cash Account that is far superior to what a traditional bank can offer, so our clients can grow their long-term wealth easily and conveniently.”

In 2021, the number of investors using robo-advisors like Wealthfront grew at a record rate, up 23.2 percent from 2020, as young investors in particular looked for more accessible and affordable means of growing their wealth. Wealthfront has seen strong growth on its platform as millennial and Gen Z investors have been drawn to its full suite of digital saving, investing, and borrowing services.

Wealthfront clients are also increasingly leveraging checking features provided by Green Dot to seamlessly save into a high-yield account that offers fast, easy access to cash when they need it. Whether that means direct depositing a portion of their paycheck to automate their savings, depositing checks straight to an interest-bearing account, or using the account and routing numbers to pay bills and friends, the Wealthfront Cash Account helps clients maximize earnings on their uninvested cash without sacrificing flexibility or security.

“Savvy consumers demand more convenient financial solutions that help them build their savings and invest for the long term, and offer easy management and understanding of cash flow,” said Amit Parikh, EVP, Banking Platform Services at Green Dot. “We’re proud to partner with Wealthfront to power consumers with more seamless, secure and useful financial tools and experiences."

For more information on the Wealthfront Cash Account please visit: https://www.wealthfront.com/cash