The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site.
BestMoney.com
Upgrade Review
Get more value with a better banking experience
Reviews 38,669
Upgrade - Premier Savings
Visit Site
Upgrade - Premier Savings
Upgrade - Premier Savings
Excellent
Reviews 38,669
Michael Graw
Mar. 15, 2023
2 min read
Michael Graw
Upgrade - Premier Savings summary
Upgrade is a San Francisco-based fintech company founded in 2017. It offers checking and savings accounts, credit cards, and personal loans. The Upgrade - Rewards Checking account offers 2% cash back on certain everyday purchases made with your debit card up to $500 per year, plus 1% cash back on all other purchases. The Upgrade - Premier Savings account offers 4.38% APY interest on balances of $1,000 or more and no monthly account fee.
Pros
  • No account or ATM fees for Rewards Checking
  • Up to 2% cash back on debit card purchases
  • Earn 4.38% APY on balances of $1,000 or more with Premier Savings
Cons
  • Does not accept cash deposits
  • Limited online accounting dashboard

Upgrade - Premier Savings at a glance

4.6
Editorial score

Fees?

No fees
5.0

Security

FDIC insured and SSL encrypted accounts
5.0

Customer service

FDIC insured and SSL encrypted accounts
4.0

Online experience

User-friendly website with bill pay center, transaction tagging, and more
4.0

Mobile experience

iOS and Android, includes transaction history, online transfers, bill pay center, and mobile check deposit
5.0

Upgrade - Premier Savings Upgrade - Premier Savings Visit Upgrade

Advantages Over Traditional Banks

Upgrade offers checking and savings accounts with above-average benefits.

The Upgrade - Rewards Checking account is completely fee-free and there’s no minimum deposit required to open an account. You won’t pay monthly account fees, ATM fees, transfer fees, or even overdraft fees.

In addition, the Upgrade - Rewards Checking account offers cash back on every purchase you make using your Visa debit card. You’ll receive 2% cash back on purchases made at convenience stores, drug stores, gas stations, and restaurants. You’ll also get 2% cash back for many monthly subscriptions and utilities.

The 2% cash back offer is limited to $500 per year in certain categories, after which you’ll receive 1% cash back. All other purchases also receive 1% cash back. 

Another benefit of the Rewards Checking account is that existing account holders can receive a discount of up to 20% on the interest rate for a new personal loan or credit card through Upgrade.

The Premier Savings account offers interest of 4.38% APY on savings balances of $1,000 or more. That’s more than 16 times the national average interest rate for savings accounts. Balances under $1,000 do not earn interest. 

There is no minimum deposit required to open a Premier Savings account. There are also no monthly account fees, overdraft fees, or transfer fees. Transfers of $100,000 or less are completed the same day that you initiate them.

Cutting-Edge Banking Services

Upgrade offers a browser-based dashboard as well as mobile apps for iOS and Android to manage your checking and savings accounts. The online dashboard enables you to tag transactions, initiate transfers, and automatically pay your bills online. 

 Another helpful feature in the dashboard is that you can review your full transaction history for either your checking or savings account. You can also set up alerts for new transactions or incoming transfers. 

Upgrade also has an online credit monitoring and education center. You can monitor your credit score for free and get weekly updates on any changes. You can also sign up for email alerts to find out if your score is changing and quickly identify potential fraud.

Traditional Banking Services

Upgrade offers personal loans and credit cards in addition to the Rewards Checking and Premier Savings accounts. The company’s six credit cards are all free of annual fees and offer up to 3% cash back on select purchases. One credit card offers unlimited 1.5% cash back in Bitcoin on every purchase. 

Importantly, Upgrade does not have any physical branches or in-network ATMs. Upgrade does not charge ATM fees, but you may be charged a fee by the bank that owns any ATM you use. 

Upgrade will refund up to five ATM charges per month. To qualify for a refund, you must have an average daily balance of at least $2,500 in your checking account, receive direct deposits totaling at least $1,000, or make at least eight debit card purchases during the prior month.

Interest Rates and Fees

TheUpgrade - Premier Savings account offers 4.38% APY interest on balances of $1,000 or more. Balances under $1,000 do not receive interest.  

The Upgrade - Premier Savings account  doesn’t require a minimum account balance. There are no monthly fees, overdraft fees, or transfer fees. 

The Upgrade - Rewards Checking account offers cash back on debit card purchases. You’ll earn 2% cash back up to $500 per year on purchases from convenience stores, drug stores, gas stations, and restaurants, as well as subscriptions, and utility purchases. You’ll earn 1% cash back on all other purchases. 

The Upgrade - Rewards Checking account doesn’t require a minimum account balance and doesn’t charge any monthly fees. There are also no ATM, transfer, or overdraft fees.

AccountInterest/RewardsAccount FeeMinimum BalanceATM FeeOverdraft Fee
Rewards Checking
Up to 2% cash back on common everyday expenses
None
None
None
None
Premier Savings
4.38% APY on balances of $1,000 or more
None
None
None
None

Customer Service and Online Experience

Upgrade offers customer support by phone and email. You can get in touch from 6AM-6PM (PT) Monday-Friday and from 6AM-5PM Saturday-Sunday. There’s also a detailed online knowledge base where you can find out more about how to use your Rewards Checking dashboard and Upgrade’s other products.

 Upgrade’s online dashboard is easy to use. You can see a list of all your transactions and tag them for organization. You can also see your current cash back balance and view your transaction history for your checking and savings accounts.. A bill pay center enables you to set up automatic payments for utilities, credit cards, loans, and other recurring bills.

 Upgrade has a 4.7-star rating on Trustpilot, with more than 25,000 reviews, and an A+ rating with the Better Business Bureau.

Mobile App

Upgrade has a free mobile app for iOS and Android devices. The mobile app offers much of the same functionality of the online dashboard, including the ability to track transactions and set up automatic bill pay. You can also lock your debit card if it’s ever lost or stolen.

The Upgrade Visa debit card is compatible with both Google Pay and Apple Pay.

 Security

Upgrade secures your account with SSL and 256-bit AES encryption. Both the Rewards Checking and Premier Savings accounts are FDIC-insured through Cross River Bank for up to $250,000. You can also sign up for credit monitoring and email alerts through Upgrade to quickly detect potential fraud in your account.

 Summary

Upgrade is a financial technology company that offers checking and savings accounts, personal loans, and annual fee-free cards. The Upgrade - Rewards Checking account offers up to 2% cash back on everyday purchases up to $500 per year and 1% cash back on all other purchases. The Upgrade - Premier Savings account offers 4.38% APY interest on balances of $1,000 or more. Neither account has monthly fees, transfer fees, ATM fees, or overdraft fees, and you’re not required to keep a minimum balance in your accounts. You can manage your transactions through an online dashboard or the Upgrade mobile app for iOS and Android.

Methodology

This review was created using information from the Upgrade website, Trustpilot, and the Better Business Bureau.

Upgrade - Premier Savings Upgrade - Premier Savings Visit Upgrade

Disclaimer

Upgrade is a financial technology company, not a bank. Rewards Checking services provided by Cross River Bank, Member FDIC. Upgrade VISA ® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
Top 5 Online Banking
Chime®
Chime®
Read Review|Visit Site
Read all reviews
Must Reads
Read all articles
Trustpilot reviews
See what some costumers are saying about Upgrade - Premier Savings
Upgrade - Premier Savings
Excellent
Reviews 38,669
on
Excellent
82%
Great
11%
Average
3%
Poor
1%
Bad
3%
R
ronald mcdaniel
19 hours ago
Apps easy to use very understandable
Apps easy to use very understandable
T
tracy meeks
15 hours ago
Confused and Lost
I'm not able to link external bank accounts or find the mobile check deposit link. I have also download and uninstalled the app on two different occasions to make sure the it was up to date.
J
jamonique j williams
19 hours ago
So far So good
So far, I like the service I've received when dealing with financial matters and the products offered with the checking account and looking to open a savings account given that the deals may work better that savings accounts with traditional banks I've tried in the past.
V
victor verdiza
a day ago
The App is very user friendly and…
The App is very user friendly and customer service is great
consumer-image
errol f. james, i
a day ago
A checking account that is not really a checking account.
Upgrade is disclosing the truth.
M
manny
a day ago
Easy to use and great benefits to it.
Easy to use and great benefits to it.
c
customer
a day ago
How quickly they got an issue resolved
How quickly they got an issue resolved
C
cheyenne meza
a day ago
Yess
I had no problems doing what I needed to do.
M
michael joseph
2 days ago
The absolute ease of applying
The absolute ease of applying, yet thoroughness.
A
amanda crisamore
2 days ago
Very user-friendly app.
I haven't received my card yet but the app seems to be pretty user-friendly. I'm excited to see how this goes.
C
catherine davis-james
2 days ago
Easy Application Process!
Easy Application Process!
R
rudy sandleris
2 days ago
When I applied for the credit line in…
When I applied for the credit line in checking account I accidentally deleted my application for the credit line, and because of this, you guys denied me a not want me to wait 30 days, but yet you approved the checking, makes no sense to me.
B
beth roberts
3 days ago
How this can help
It hope me out a lot .
C
clarice ward
3 days ago
Always responds fast and also get funds…
Always responds fast and also get funds fast
S
sandra hodson
3 days ago
Tired of getting emails to apply and…
Tired of getting emails to apply and get denied. Horrible service. Or should I say, lack of. Terrible.
P
patricia lane
4 days ago
Very professional
Very professional, polite and helpful.
P
patrick vixamar
4 days ago
The service is always easy and painless.
The service is always easy and painless.
S
sean kelly
4 days ago
Forms clear and concise .
Forms clear and concise .
D
daryl c
4 days ago
Easy process.
Easy process.
R
rony gilot
4 days ago
I cannot see dashboard credit card to…
I cannot see dashboard credit card to pay my bill.
R
regina smith
4 days ago
I love it
I love it. Easy to add money. No weird fees. Nothing bad. Everything you could want in a bank/credit card company
K
karen costanten
4 days ago
The whole process was unbelievable
The whole process was unbelievable. I was so happy with how simple and quick it was to do everything. I am confident that I made the right decision. Thank you!
F
frank bernardo
4 days ago
Online services are great and very…
Online services are great and very quick on confirming a loan. Thanks for your service.
C
chirag patel
4 days ago
quick question and answers
quick question and answers
D
duyen phan
4 days ago
great great g
great great g
K
keith n
4 days ago
The entire loan process was easy a…
The entire loan process was easy a application process
J
jislene fenestor
4 days ago
Their honesty and professionalism
Their honesty and professionalism. Their prompt response. I will refer this company to all my friends and relatives.
M
mindy otter
5 days ago
Easy & quick
It was a quick, easy, painless experience. My money was in my account quickly.
C
craig ferrara
5 days ago
Opened a savings account with an…
Opened a savings account with an interest rate over 4 percent. Better than my local bank at .2 percent. Easy to open and deposit money into the savings account.
D
daniel chu
5 days ago
The reprentive need more training for…
The reprentive need more training for how the talk to customer and understand what want customer and more know app and internet
G
glenn gipson
5 days ago
Only joined because of a booster on the…
Only joined because of a booster on the “Steady” app. $20 to signup. Still waiting for the payment but that’s not on Upgrade. Haven’t used the app though, From what I can tell it’ll be an alright one to try though.
W
william n
5 days ago
The application process is confusing
The application process is confusing. Called customer support many times just to get my application going. Although I got approved I did not get my card yet.
C
connell fuller
5 days ago
Upgrade has been really good to work …
Upgrade has been really good to work with your company has always professional
A
andy brombosz
5 days ago
Great company
Great company, very quick and easy to apply. Setup is a snap, plus I love flexibility the program has to offer.
J
james m.
5 days ago
I have yet to receive my card so it's…
I have yet to receive my card so it's near impossible to provide a review at this time. Once received (and used), I'll be happy to complete your survey.
D
daniel seto
5 days ago
Revoked my line of credit unexpectedly
Revoked my line of credit unexpectedly
N
nancy remite
5 days ago
Person on call was very helpful
Person on call was very helpful
M
manuel alcantara
5 days ago
Quick and simple
Quick and simple. Emailed me timeline. Done with no issues. 😁
T
trb
5 days ago
QUICK AND EASY
QUICK AND EASY
N
nyla harrison
5 days ago
Fraud/Compromised
My account has been hacked/compromised. It is extremely hard to resolved my debt with this company. I am trying to update my email and telephone number; so I can get access to my account to pay this debt in full. Nyla Harrison 5043304252. Identity theft has been extremely real in my world and has caused my life chaos. Help Please! Hard to reach your company!
G
glenn price
5 days ago
Simple form to complete
Simple form to complete, easy to follow instructions and very fast turn around regarding confirmation and funding distribution.
B
bell
5 days ago
The quick review and response
The quick review and response. It probably helps being a returning customer.
M
malcolm freeberg
5 days ago
Always great customer service
Always great customer service and support. Quick loan decisions and processing.
N
nsombi
5 days ago
Very easy application.
Very easy application.
consumer-image
dasharatha nai
6 days ago
Dasharatha
Dasharatha shantib hai Nai
R
raymond tobaygo
6 days ago
Staff was patient
Staff was patient, understanding & polite, three areas I feel are important when dealing with the public
K
keith h.
6 days ago
Still waiting for approval.
I have an application still open for a card and waiting.
R
randal
6 days ago
Happy that I paid off my loan last week…
Happy that I paid off my loan last week with these people two years early. I paid every payment on time except payments #2 and #3. I was on auto pay and they took the first payment but neglected the next two. When I realized they were not I immediatly payed them and re set up auto pay. They then reported me as delinquent. I talked to numerous reps and filed a dispute but they fought me and said it was my fault. I payed them off as soon as I could and will never do business with them again. This is the second loan I habe had with them. A simple solution if they actually took a look at the problem. Yes, those payments were late, but it was due to their issues and they refused to dig deeper. Buyer, beware of them.
T
tyneshia
6 days ago
Very helpful
Very helpful
C
christy mosman
6 days ago
I kept getting emails to submit certain…
I kept getting emails to submit certain things however, the documents had already been uploaded. I also, received multiple emails to submit a selfie. I had already uploaded it. The area that said upload selfie did not have a spot to upload said photo,
V
victoria westbrook
6 days ago
Upgrade came out of no where
Upgrade came out of no where. They are awesome. They're helping me to reach my goals. I will continue to do business with them.
D
douglas romanowski
6 days ago
Speed
Speed, convenience, professional
T
timothy ferguson
6 days ago
They are very respectful and help with…
They are very respectful and help with all your needs. Even if your banking history isn't the best.
k
keith kawai
6 days ago
Very expedient and great service
Very expedient and great service
consumer-image
nancy-point richmond,ca
6 days ago
Great Integrated Money Management
I really appreciate the seamless integration of my accounts: line of credit, high yield savings, rewards checking and personal loans. Upgrade provides me with a level of money management that is flexible and can't be found at any bank.
V
vzam
6 days ago
I called for information
I called for information. Ended with a loan. Very easy application process and the money was in my bank the next day.
R
rolando fernandez
6 days ago
Excellent customer service and the…
Excellent customer service and the whole process was very easy and fast
B
brian rowley
7 days ago
My experience has been very good
My experience has been very good. I have had only one issue that continues still access to my credit card account. I have tried several times to resolve this but still no success. Other than that I am very pleased with your service.
consumer-image
stephanie caldwell
7 days ago
Customer Service Sucks
Well we started in January to get a loan with you and then we got told that it was out of date but no one contacted us. So come February we applied again and talk to someone they told us they would get back to us my husband called several times a day, We needed this loan really bad and all we got was the run around and we couldn't ever get back in touch with our representative left plenty of messages and all we got was its being processed and we call you tomorrow. Well you never called so my husband would call again we got the same BS everyday. Then the last time we called and asked to speak to a manager to try to get some clarification on this loan we applied for and we were told we couldn't talk to one cause they were busy and one would call us back with in 48 hours well 48 hours came and went no phone call. So my husband called once again to find out what was going on with the loan. He got told by the girl that he was talking to someone who would call us back once again and she was really rude to him. Your company needs to have better customer service. If you don't want to help people out then be straight up and tell someone the truth and not give them the run around.
G
gerald fay fox
7 days ago
The experience was absolutely perfect
The experience was absolutely perfect, from start to finish. Customer representatives are Great,very helpful, and knowledgeable about their job.
A
angelia morgan
7 days ago
Angelia S Morgan can't wait to enjoy my…
Angelia S Morgan can't wait to enjoy my new bank account soon next month Thank You !!!!!!!
V
vickie-palo alto,ca
7 days ago
Easy to fill out application
Easy to fill out application. All areas of their products are explained.
D
doug mullaney
7 days ago
Upgrade
Quick approval process and very organized setup. This is a great way to boost credit.
R
r. l. roush
7 days ago
Ease of use
Ease of use, and quick.
W
william robbins
7 days ago
Super easy application and fast…
Super easy application and fast turnaround! Thank you!
A
angelina santos
7 days ago
Very professional and quick
It was quick and easy
K
kristina rainbolt
7 days ago
Quick response time
Quick response time
D
david baker
7 days ago
Review of Upgrade
I liked the comprehensiveness of it but disliked the difficulty of navigating it
K
karen v.
7 days ago
You provide great rates and fast…
You provide great rates and fast service, and your customer service representatives are always pleasant and knowledgeable.
M
mark o
7 days ago
The application process was very easy…
The application process was very easy and clear to understand. I only interacted with a rep during one step in the process and the call was quick.
P
patricia pappas
7 days ago
Easy application
Easy application. Follow up even from Upgrade!
J
johnny hodges
7 days ago
I had a great experience with upgrade…when when I needed it
I had a great experience with upgrade everything was so easy no pressure at all thank you guys
D
don s
8 days ago
Simple process
Simple process, quick response, helpful customer service when I had questions
M
merlando contreras
8 days ago
Awesome!
Awesome! Found what I want.
L
lauren thomas
8 days ago
Customer service and loan conditions are sketchy
Customer service representative was not knowledgeable of their own procedures, rude, and heartless. Loan was also not signed or approved in good faith.
S
sheminiqua johnson
8 days ago
Thank you!
Every time I call they are very knowledgeable. Helps me with my concerns and worries. Always polite and respectful. What I like it the people listens to what I have to say
C
col
8 days ago
Awesome APY for savings!
Awesome APY for savings!
S
sue ellen
8 days ago
Wonderful customer service
Wonderful customer service , easy to get started, looking forward to doing business with.
M
mark
8 days ago
States that you are approved and then…
States that you are approved and then are not..falsely pulling you in the allow a credit inquiry..very misleading to say the least
T
thomas fontalbert
8 days ago
Every thing on the portal was easy
Every thing on the portal was easy and the process was smooth.
M
melissa colon
8 days ago
Super easy and efficient!
Super easy and efficient!
A
anna anderson
8 days ago
It was easy
It was easy , and fast ! Great help when I needed it
G
gary davies
8 days ago
Applied for a large purchase loan/debt…
Applied for a large purchase loan/debt consolidation Loan, Was a quick and easy approval, received cash in my bank account on the next business day. my six credit cards I listed to be paid were allpaid off within the next one or two business days. I c was happy overall with the easy process and quick funding.
T
tess boyd
8 days ago
It was so easy! Fast Approval, Fast Funding!
The application was easy to complete. Everything was done on-line. Approval was on the same day and funds were in my bank account within 2 business days. Thanks Upgrade!
C
cathy hallacher
9 days ago
Everything went smooth
Everything went smooth, easy to apply, transactions and money came fast.
P
pedro bautista olvera
9 days ago
Very good service
It was quick and easy to fill out the application to get the card
N
nilesh kumar
9 days ago
Great customer service
Quick and easy
G
gary smith
9 days ago
Great customer service
Great customer service
R
rob persaud
9 days ago
Transfer Issue
After numerous phone conversation, they still couldn’t resolve my loan transfer. I tried with the app over and over and it also couldn’t be completed. I felt tricked signing up for the bank account offer.
S
s. davis
9 days ago
Multiple calls
I reached out to the company several times about my application. Each time the representative gave me a different solution to send documents for approval. Finally after 4-5 days of repeated calls my loan was approved.
H
heather hassan
9 days ago
Easy, fast, great service
Submitting the application was easy, the process was fast, and the credit line is great!
R
rodney mitchell
9 days ago
So far was able to get the card as…
So far was able to get the card as promised
K
kristi craig
9 days ago
Time suck
45 minutes of my time, personal data, photos, copies of all my finances, THEN tell me not qualified due to reason fully evident first 3 minutes of the conversation
G
gwendolyn wynn
9 days ago
Fast and efficient.
Simple fast and efficient process. Helping me get back on track moving toward my financial goals!
L
lisa
9 days ago
The application & approval process was…
The application & approval process was quick and easy!
M
michelle
9 days ago
Excellent customer service
Excellent customer service
K
kenneth milton
9 days ago
ease of applying
ease of applying and fast response of the results
S
shadd mccaw
9 days ago
Easy application
Easy application Fast approval Quick and Easy funding done the right way. Great company to work with
R
rt
10 days ago
Fast and easy.
Fast and easy.. great customer service.. very satisfied
G
gene williams
10 days ago
The process is too lengthy
The process is too lengthy. I was told something different about the process on three different calls. Although I am thankful for the outcome, it seems to me the process should be easier.