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Optional Savings Account
Put your cash to work.
Earn up to 3.00% APY¹ with no hidden fees, no minimum balance, and FDIC insured through MetaBank®, N.A. Start earning up to 50x the national average.2
Qualifications for the Porte Savings Account are changing. Click here for more information about the changes taking effect 1/1/2022.
Porte Savings Account
Annual Percentage Yield
High Yield.2 Pay no account fees. $0 minimum to open.1
We make High-Yield Savings easy. No additional fees or minimum balance. Activate savings and start earning up to 3.00% APY. Compare that to the national average of 0.06% APY.2
Qualifications for the Porte Savings Account are changing. Click here for more information about the changes taking effect 1/1/2022.
Qualifying for an optional Savings Account is as easy as 1, 2, 3.
The 3.00% APY1 High-Yield Savings Account is only available to members who have received a qualifying Direct Deposit to their Porte account.
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Set up Direct Deposit
$1,000 or more in one calendar month
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Open Savings Account
Get started at the click of a button
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Move money to savings
Start earning up to 3.00% APY1
Qualifications for the Porte Savings Account are changing. Click here for more information about the changes taking effect 1/1/2022.
You work hard. Your savings should work as hard as you do.
APY, or Annual Percentage Yield, refers to how much money you earn on compound interest over the course of a year. We make transfers to your Savings Account easy, so you can watch your savings grow. Now that is making your money work for you!
Finally, High-Yield Savings that isn’t too good to be true
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No fees. Ever.
Say goodbye to monthly Savings Account fees. It’s your money. You should keep it.
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FDIC insured
Keeping your money safe is our top priority. Your funds are FDIC insured through our partner, MetaBank®, National Association.
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No minimum balance
$10 or $10,000. No amount is too small to earn 3.00% APY1 on balances up to $15,000.
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Sign up with the Porte app3
Open a Savings Account from the dashboard after receiving a qualifying direct deposit. Let’s get started!
Questions?
Why should I get a savings account?
Saving money now helps you take control of your future. You can use it to put away money now for short-term and long-term goals. Earn up to 3.00% APY1 on the first $15,000 deposited in your Savings Account and reach your savings goals.
Note: Qualifications for the Porte Savings Account are changing. Click here for more information about the changes taking effect on 1/1/2022.
Are there fees associated with this account?
No, the Savings Account is included for those who have a qualifying Direct Deposit of $1,000 or more in one calendar month. However, a fee may be charged when you call Customer Service to make a Savings Account balance inquiry or request a copy of your Savings Account statements.
Note: Qualifications for the Porte Savings Account are changing. Click here for more information about the changes taking effect on 1/1/2022.
What minimum amount do I need to keep in the savings account?
There’s no minimum amount that you have to keep in your Savings Account. Choose to save as much or as little as you want.
Is it safe to keep my money in a mobile savings account?
Porte is a deposit account established by MetaBank®, N.A. and funds on deposit in your Account are FDIC insured through MetaBank, N.A. For purposes of FDIC coverage, all funds held on deposit by you at MetaBank, N.A. will be aggregated up to the coverage limit, currently $250,000.00. We take the security of your money seriously, so rest easy knowing your funds are safe with Porte.
How do I set up the Savings Account?
Once you receive a qualifying Direct Deposit of $1,000 or more in a calendar month, you become eligible for Porte’s Savings Account. Once eligible, the option to set it up will show up in your Porte app.
Note: Qualifications for the Porte Savings Account are changing. Click here for more information about the changes taking effect on 1/1/2022.
signup section
Open a Porte account today to start earning up to 3.00% APY.1
Apply for an account from the Porte app.3 No credit check required.4
Get The APP
Porte is a mobile finance app, not a bank. Banking services provided by Metabank,® National Association, Member FDIC.
The optional Savings Account linked to your designated PORTE account is made available to Accountholders through MetaBank, National Association, Member FDIC. To open a Savings Account, consent to receive communications from us in electronic form is required. For Savings Accounts opened prior to 12/31/21, you must receive direct deposit(s) totaling at least $1,000 within one (1) calendar month to be eligible to open a Savings Account. Interest is calculated on the Average Daily Balance(s) of the Savings Account and is paid quarterly.
Variable Rate: Interest Rate through 12/31/2021– Tiered Variable Rate:
If the Average Daily Balance is $15,000.00 or less, the interest rate paid on the entire balance will be 2.97% with an annual percentage yield (APY) of 3.00%.
An interest rate of 0.49% will be paid only for that portion of your average daily balance that is greater than $15,000.00. The APY for this tier will range from 3.00% to 0.50% depending on the balance in the Savings Account.
Variable Rate effective 01/01/2022: Bonus Interest Rate – Tiered Variable Rate:
An interest rate of 0.20% will be paid on your average daily balance with an APY of 0.20%.
Additionally, the optional Porte Savings account allows you to earn a higher interest rate of 2.97% with an APY of 3.00% on an average daily balance of up to $15,000 during a calendar quarter if you (i) receive at least $3,000 in Qualifying Direct Deposits (as defined below) into your Porte Spending Account in that calendar quarter, AND (ii) make at least fifteen (15) Qualifying Debit Card Purchase Transactions (as defined below) from your Porte Spending Account in that calendar quarter. The interest paid on average daily balances of over $15,000.00 will be 0.20% with an APY range for this tier from 3.00% to 0.20%.
The interest rates and APYs of each tier may change. The APYs were accurate as of 10/1/21. No minimum balance to open Savings Account. Savings Account funds are withdrawn through the Porte Account (maximum 6 such transfers per calendar month) and transaction fees could reduce the interest earned on the Savings Account. See the Savings Account Agreement for more details. Funds on deposit are FDIC insured through MetaBank, N.A. For purposes of FDIC coverage, all funds held on deposit by you at MetaBank, National Association, will be aggregated up to the coverage limit, currently $250,000.00.
The national rate is posted by the FDIC and is calculated based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. More details about the calculation may be found at: https://www.fdic.gov/regulations/resources/rates/#one. The national rate for savings accounts is reported by the FDIC as 0.07% APY as of 04/01/2021. To view how the national rate currently compares to Porte’s rates, please visit https://www.joinporte.com/Porte-Savings-Rate/, which is verified quarterly.
Standard data rates, fees, and charges may apply.
IMPORTANT INFORMATION FOR OPENING A NEW DEPOSIT ACCOUNT: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens an Account. WHAT THIS MEANS FOR YOU: When you open an Account, we will ask for your name, address, date of birth, and your government ID number. We may also ask to see a copy of your driver’s license or other documents at any time. All Accounts are opened subject to our ability to verify your identity by requiring acceptable types of identification. We may validate the information you provide us to ensure we have a reasonable belief of your identity. If we are not able to verify your identity to our satisfaction, we will not open your Account or we may close the Account if it was previously funded. Your Account is subject to fraud prevention restrictions at any time, with or without notice.
Apple and Apple logo are trademarks of Apple, Inc., registered in the U.S. and other countries. App Store is a service mark of Apple, Inc.
Google Play and the Google Play logo are trademarks of Google LLC.
Porte is a mobile finance app, not a bank. Banking services provided by Metabank,® National Association, Member FDIC.
PORTE is a deposit account established by MetaBank®, National Association, Member FDIC. Certain products and services may be licensed under U.S. Patent Nos. 6,000,608 and 6,189,787.
© 2021 Netspend Corporation. All rights reserved worldwide. Netspend is the federally registered U.S. service mark of Netspend Corporation. All other trademarks and service marks belong to their owners.
Copyright © Populus Financial Group, Inc. 2021. All rights reserved.
