Empower Review

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Advantages Over Regular Bank 

While traditional banks revolve around brick-and-mortar branches and perhaps online banking, Empower lets you do everything from your phone, it’s a one-stop-app to manage all your finances.

Here are a few reasons to choose Empower over a regular bank:

• Get Cash Advance of $25 to $250* with no interest, no late fees and no credit checks
• Receive paychecks up to 2 days faster^
• Earn cashback up to 10%**
• Free unlimited access to over 37,000 MoneyPass ATMs
• No overdraft fees and no account minimums
• Effortless spend tracking
• Intelligent, automatic savings

Cutting-Edge Banking Services 

According to Empower, its mobile banking platform is designed to help you succeed in personal finance without even trying. We’re happy to report that Empower lives up to its mission statement, thanks to 3 simple features:

• Cash Advance*. Get anywhere from $25 to $250 when you’re in a jam, delivered directly and quickly to your account. There’s no interest, no late fees and no credit checks.
• Empower Card. Like a regular checking account, but better. Empower offers paychecks up to 2 days faster, cashback up to 10% on the things you’re spending money on already, unlimited access to over 37,000 free MoneyPass ATMs — and never charges you overdraft fees. Empower deposits are FDIC insured up to $250,000.
• Automatic Savings. Intelligent and simple AutoSave account. Just tell Empower how much money you want to save each week, choose the checking account you want to transfer from, and Empower will do all the rest. Empower studies your income and expenses daily to help you set aside the right amount of money at the right time. Empower deposits are FDIC insured up to $250,000.

Traditional Banking Services 

While Empower isn’t a traditional banking service, it does have some traditional banking features built into the app.

• Unlimited transfers between your external checking account and Empower AutoSave account
• Link the Empower Card to your external checking account

Fees 

Empower is free for the first 14 days. After 14 days, Empower charges $8 per month for continued access to its full suite of money management tools. You can cancel anytime in the app.

Customer Service

Customers can rely on comprehensive support via live chat in-app, by phone, or by emailing help@empower.me.

Mobile Apps 

Empower doesn’t offer a mobile app as an afterthought like most banks—it is an app. The Empower mobile app is the only place to get access to all the features described in this review. Through a slick iOS/Android-compatible mobile app, you can:

• Open and manage your accounts
• Access your money at any time
• Turn on push notifications for instant alerts 

Security 

Given the bank-level security it has in place, it’s clear Empower takes your data privacy and security seriously. Security features include AES 256-bit encryption, touch ID, and multi-factor authentication.

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Conclusion  

Mobile banking is where things are headed in the banking industry. Empower has done the public a service with a native mobile banking platform that helps users save and feel less anxiety in between paychecks. The Empower app is a great option for anyone looking for a complete personal finance solution from the convenience of their phone.

* Eligibility requirements apply 

^ Timing may vary by employer

** Deals will vary and must be selected in the app