Review
Updated
Fact Checked
Eric McWhinnie
Bottom line: Albert App appears to do it all. It can automate savings, manage your budget, set up a custom investment portfolio, help with financial plans, and more.
Best For: Helping to manage your budget, savings, and investing in oneAlbert App
Full Albert App review
Pros
- Aggregates all accounts to give you a bird's-eye view of your personal finances
- Uses the same bank-level security as major banks
- Is FDIC insured
- Monitors your budget to identify potential savings
- Only takes $1 to begin commission-free investing
Cons
- Customer service can only be reached via email and text
- Investment options don't include retirement plans
At a glance
| Rewards | Cash back on groceries, gas️, food, and more |
| iOS app rating | 4.6/5 stars |
| Android app rating | 4.3/5 stars |
| Cost |
Basic functionality: Free Genius service: $15/month |
What is Albert App and how does it work?
Albert App is a financial monitoring tool, with a bit of a twist. Rather than do one or two jobs, like automating savings or keeping track of your bills, Albert aims to be a one-stop shop for nearly all of your monthly financial needs.
Albert App offers:
- Automatic savings based on what you can afford
- Cash advances against your next paycheck
- Insurance options and discounts
- A custom investment portfolio
- Genius service for access to human advisors
You begin by linking all of your accounts to the app. Albert App uses the same security measures as any major bank, keeping your financial information private. Once you've linked the app to your checking, savings, and investment accounts, it tracks your account balances and net worth. Most importantly, it helps you keep your finances organized.
You can even bank through the app, although Albert is not a bank and all banking services are provided through Sutton Bank, member FDIC.
Top perks
Albert App is like having several financial and budgeting apps in one. Here are some of its best features.
Basic functions are free to use
It's not until you decide to sign up for Genius that a fee comes into play. The fee for Genius is currently $15 per month.
Genius offers access to human advisors
A subscription with Genius gives you access to human financial advisors, available seven days a week to answer any financial questions you have. For example, if you're curious about how to pay off loans, save for a vacation, or open a college fund for your child, an expert can give you step-by-step directions. You can try Genius for free for 30 days and if you're not happy with the service at any point, it's easy to cancel via the app.
Helps identify potential savings
Albert App analyzes your spending habits to learn where you might be able to save. This can be a particularly helpful tool given how difficult it can be to identify savings opportunities on your own. The savings feature examines your spending and uses an algorithm to figure out how much money you can afford to automatically save each week. You'll need to be a member of the paid Genius service to use this feature.
Albert App even checks your bank account balance before making a transfer to ensure that there's no risk of overdrawing your account.
Guides you through basic investing
The app's Portfolio by Genius can create a custom investment portfolio tailored to meet your specific goals. It can also offer you guidance through a team of human advisors.
Gives you access to your paycheck two days early
If your funds tend to run low shortly before your next paycheck is due, Albert may advance you the money two days before your check is set to hit your account.
Insurance options
Albert App can help users find life, auto, home, and renters insurance through the app. It can also offer coverage discounts and connect users to policy options, including from its life insurance partner, Ladder. The convenience of doing all this work in one place will appeal to some users.
What could be improved
Albert App is fun to use and full of helpful functions. However, it's not perfect. Here are a couple of things that could be improved.
No way to reach a human by phone
Not everyone is tech savvy, and it would be nice to have someone on the other end of a phone to walk us through any of the app features that don't make sense.
No investment options for retirement
While you can select from a list of stocks and funds, it does not appear that the app supports retirement plans.
Alternatives to consider
If you want an app that helps you track spending and syncs your accounts: PocketGuard categorizes and organizes your bills in a comprehensive way, allowing you to always know how much you have available to spend.
If you want a basic budgeting app: Mvelopes makes it easy to develop a budgeting system by allowing you to create a virtual "envelope" for each spending category in your budget. You can stay on track by checking how much is left in each envelope.
For more options, take a look at our picks for the Best Budgeting Apps.
What are the costs?
Basic Albert App functions are free to use. Upgrading to Genius will cost you $15 per month.
This app is right for:
Anyone who is serious about organizing their home finances in one spot. Albert App is also good for the beginning investor and those who want to automate their savings.
FAQs
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Take advantage of the free 30-day trial to familiarize yourself with all that Albert offers. Thirty days should give you enough time to determine how many features you'll make use of.
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It may. If you're not tech-savvy or otherwise run into issues, the inability to call customer service may become a roadblock.
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It all depends on how many Albert features you'll use. If you're using it as a basic budget planner, there are certainly cheaper options. If you'll milk all the features, and the app ends up saving you money, it could be a bargain.
Our Personal Finance Experts
Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.
Fact Checked
Eric McWhinnie
Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.
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