PALO ALTO, Calif., Feb. 16, 2021 /PRNewswire/ -- Today, Wealthfront announced that clients who use their Wealthfront Cash Account to invest in a Wealthfront Investment Account can have their money invested in the market within minutes. Wealthfront clients who direct deposit their paycheck into the Wealthfront Cash Account can already get paid up to two days early, and today's announcement is the next step in the company's efforts to put their clients' hard earned money to work for them immediately.
"Time spent in the market is one of the most important things for long-term investors, so we're excited to be able to give our clients' money more days to enjoy the power of compounding interest," said Dan Carroll, co-founder and Chief Strategy Officer at Wealthfront. "At Wealthfront, we're building an entirely new financial ecosystem that puts the client first and we believe the outcome will have an enormously positive impact on the wealth accumulation possibilities for Millennials and Gen Z."
When combined with the ability to get paid up to two days early, Wealthfront clients are able to unlock over 100 extra days in the market. Wealthfront clients can also use Wealthfront's automation services to automatically carry out their savings strategy, allowing all money movement to happen in the background without them needing to lift a finger.
Wealthfront is on a mission to build a financial system that favors people, not institutions. The team will continue to reinvent banking and investing services so the system works more efficiently, delivers more value and provides more opportunities for wealth creation among young professionals. To open a Wealthfront account, download the app on the App Store or Google Play or visit www.wealthfront.com.
Wealthfront is the only company that integrates banking and investing to automate your savings. The company provides all of the financial services you need like high-interest checking that offers an ATM/debit card, low-cost investment portfolios managed for you, one-click loans and free advice and planning tools all through a five-star rated mobile app. The company recently began implementing the first of its Self-Driving Money™ services to automate your savings plan so you don't need to worry about monitoring accounts and moving money around. To learn more please visit www.wealthfront.com or download the app on the App Store or Google Play.
We've partnered with Green Dot Bank, Member FDIC, to bring you checking features.
Checking features for the Cash Account are subject to identity verification by Green Dot Bank. Debit Card is optional and must be requested. Wealthfront Cash Account Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service Association. Green Dot Bank operates under the following registered trade names: GO2bank, GoBank, Green Dot Bank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage. Wealthfront products and services are not provided by Green Dot Bank. Green Dot is a registered trademark of Green Dot Corporation. ©2021 Green Dot Corporation. All rights reserved.
Early availability depends on timing of payor's payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. Interest does not begin accruing until funds arrive at the program banks, which may take up to one business day.
Cash Account is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), a Member of FINRA/SIPC. Neither Wealthfront Brokerage nor any of its affiliates are a bank, and Cash Account is not a checking or savings account. We convey funds to partner banks who accept and maintain deposits, provide the interest rate, and provide FDIC insurance. Investment management and advisory services are provided by Wealthfront Advisers LLC ("Wealthfront Advisers"), an SEC registered investment adviser, and financial planning tools are provided by Wealthfront Software LLC ("Wealthfront").
One-click loans refers to our Portfolio Line of Credit which is a margin lending product offered exclusively to clients of Wealthfront Advisers by Wealthfront Brokerage LLC. You should consider the risks and benefits specific to margin when evaluating your options. Learn more about these risks in the Margin Handbook.
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