Green Dot and Wealthfront extend partnership

Green Dot, a digital bank and fintech enabling banking and payment solutions for businesses and consumers, and Wealthfront, automated wealth management provider, have extended their partnership that provides checking features and money movement for Wealthfront’s Cash Account.

Wealthfront began partnering with Green Dot in 2020 to offer Cash Account clients 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 access cash at a nationwide network of ATMs through a debit card. The Wealthfront Cash Account requires $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.

In January, UBS announced plans to acquire Wealthfront for $1.4 billion.

“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. 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.” – Dave Myszewski, VP of product at Wealthfront.

“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. We’re proud to partner with Wealthfront to power consumers with more seamless, secure and useful financial tools and experiences.” – Amit Parikh, EVP, Banking Platform Services at Green Dot.