Grow your savings with Experian Smart Money™ Digital Savings Account

The Experian Smart Money™ Digital Savings Account makes it easy to grow your savings online and on your phone. You won’t have a physical bank, but can make transfers and access your money on the go. Opening an account takes just a few minutes, and there’s no minimum balance required to open it. Your digital savings account comes with benefits like:

• No monthly fees or minimums^¶
• Up to a 4.00% APY^|| for premium members
• A competitive Annual Percentage Yield (APY) to help you hit your savings goals faster, with interest payouts every month

There are 2 ways to deposit money into your Experian Smart Money™ Digital Savings Account:

• Transfer from your other bank accounts (if you have them). If you’ve already connected accounts to Experian Boost^® or Personal Finances, you can add those, or connect new accounts. If you have an Experian Smart Money™ Digital Checking Account, you can also transfer money from there into your digital savings account.
• Set up direct deposit. Get your paychecks automatically deposited into your Experian Smart Money™ Digital Checking Savings Account.^††

APY is short for “annual percentage yield,” which represents the amount of interest you could earn in a year including compounding interest.

The Experian Smart Money™ Digital Savings Account is an interest-bearing account, meaning interest will be paid to you for the funds that you deposit, receive, or maintain in your account. With an Experian Smart Money™ Digital Savings Account, you’ll get interest payouts every month.

There are no monthly fees^¶ and no minimum balance required to open an Experian Smart Money™ Digital Savings Account. We don’t charge you any fees to move money in or out of your account, set up direct deposit, or make transfers. See Savings Agreement for applicable fees.

Yes. Banking services for your Experian Smart Money™ Accounts are provided by Community Federal Savings Bank (CFSB). Funds in your Experian Smart Money™ Digital Checking Account and Digital Savings Account are held in a pooled deposit account at CFSB and are insured up to $250,000 total for your savings and checking account, if you have both.^§ You do not need to purchase or apply for deposit insurance—by opening a digital checking account, you automatically receive coverage for your deposits. Learn more on the FDIC website.

Round Up^¥ helps you grow your savings faster by transferring your extra change from your Experian Smart Money™ Digital Checking Account to your Experian Smart Money Digital Savings Account.

To use Round Up, you’ll need an eligible paid Experian membership and to open an Experian Smart Money™ Digital Checking Account and a Digital Savings Account. Then, toggle on Round Up in your Experian Smart Money™ Digital Savings Account. After that, every time you make a purchase with your Experian Smart Money™ Debit Card, your purchase will be rounded up to the nearest dollar. We’ll then automatically transfer your extra change to your Experian Smart Money™ Digital Savings Account. For example, if you spend $2.60, your purchase will be rounded up to $3.00. Then, we’ll take the $0.40 from your digital checking account and add it to your digital savings account automatically.

You can turn Round Up on or off any time.