Interest on Account(s)

Not planned

Comments

3 comments

  • Official comment
    Joshua

    Hey Crystall,

    Thank you for relaying this desire for Gazelle!

    For our first phase of Gazelle, we are focused on helping people with managing their daily spending, and our features will reflect that. Savings accounts do come with interest, but also some additional restrictions on moving and spending money. We are still exploring ways to offer a savings account that does earn interest in the future, but we have no set plans on when that would be. In the meantime, as a spending account with a debit card, Gazelle is better suited for managing your spending than being a savings account that earns interest. 

  • Kyle Wimmer

    Totally agree. SoFi offers 1.80%, Ally is at 1.50%, my credit union is at 2.0%. I get that there is probably a decent cost associated with starting up a neo bank like this, but there needs to be a good incentive to switch and stay and right now there really is neither.... 

    0
  • Amber Cash

    Yes, this is important. My checking account is interest earning. Gazelle will be competing with that to get me to completely switch my banking.

    0

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