Debit card users, it’s time to make your spending work for you with cashback in the form of investment returns deposited directly into your Save® Debit Invest account.
Debit cards are the second most common payment method in the US, but most don’t offer rewards or cashback. The Save® Debit Invest card offers cashback in the form of investment returns, which is just one reason why it is a great time to consider changing your debit card to the Debit Invest card, instead.
Dollar-for-dollar matching on qualified transactions¹
When you make qualified purchases with your Save Debit Invest card, Save matches your spending dollar for dollar with equivalent investments, giving our customers the potential for a much bigger return from their everyday spending.
How it works:
- For every $1 you spend, Save invests $1 on your behalf.¹
- Your matched equivalent investments stay invested for a little more than a year.
- Then, once the investment matures, the returns from the investment (minus our fee) are deposited into your bank account as cash.
Based on hypothetical back-tested performance, Save estimates 2.95%2 average returns on matched equivalent investments. Hypothetically, if you spent $4,000 in one month on qualified investments, after a little more than a year, the equivalent investments made by Save would have the potential to return about $118. This cash would be deposited directly back into your Save account.
Earnings potential is unlike any other
If $118 back into your account doesn’t sound like much, we can dive into a few more hypothetical situations.
The Debit Invest card’s earnings potential is unlike any other. While not an apples-to-apples comparative, Save’s Debit Invest card outperforms the best debit rewards programs. With the Discover Cashback Debit card, customers receive 1% cashback on up to $3,000 per month on their purchases, which equates out to $30. Even when looking at some cashback credit cards, like the Citi Double Cash Card, the Debit Invest card is nearly a percentage point higher or more in potential cashback in the form of investment returns.
Ultimately, using the Debit Invest card gives users a chance to earn more—without changing their spending habits.
Keep your money secure with FDIC insurance3
Save doesn’t use customers’ money to match spending with investments. Read that again: Save doesn’t use customers’ money to match spending with investments.
All Save accounts are FDIC insured.3 The Debit Invest card allows Save to match customers’ spending through strong partnerships with banks and card issuers. Traditionally, interchange fees (this is normally a fee that banks and card companies charge the merchants per transaction) are charged between the card sponsor and the merchant, and most issuers keep that to offset their card program’s cost. Save has taken that traditional model and used it to their customers’ benefit by using the interchange fee to fund the investment matching.
Because of this process, Save’s customers can invest in their future while their cash stays safe with no need to sacrifice any aspects of their lifestyle to start saving.
Get thousands-worth of equivalent investments with referrals
Whenever a Save customer refers a friend or family member to open a Save account, they will each receive a bonus of $1,500 of equivalent portfolio investments5 after both have spent $250 in their respective accounts in a month. The referral program can potentially boost customers’ investment returns. This referral program is designed to be exceptionally rewarding and have strong upside potential for customers returns.
“Banks spend billions in advertisements. We’d rather provide a generous referral and pass the savings onto you and your friends,” said Michael Nelskyla, Save Founder and CEO. “These investments are additional money at work for you. They add to the overall potential of your investments, so you can get more from your Save accounts.”
No return, no fee
Another exceptionally generous aspect of Save is its no return, no fee policy.
Nelskyla and President and COO Adam Watts believe that fees should be fair and financial advisors should take responsibility for portfolio performance. Therefore, if Save’s investment portfolios don’t generate a return greater than the management fee of 0.59%, the customers don’t pay a penny in fees.
Clear investment dashboard to monitor your portfolio
Upon signing up, new customers designate their desired portfolio—conservative, moderate, or growth—based on their risk level.
Users can monitor their portfolio’s performance via the Save App or Online Portal. The dashboard (Figure 1 to the right) displays the composition of asset classes for the Conservative Portfolio. Save’s portfolios are designed for diversification, stability, and flexibility.
Multiple avenues to access Save Support
We all need a little help sometimes and Team Save wants to help current and prospective customers throughout researching, signing up for, and utilizing Save accounts. Save makes support easy by providing several avenues to reach the team for help.
Current and prospective customers can reach Save by the methods below:
- Chat with Save via the chat feature on the Save website, located at the bottom left corner of each webpage.
- Email: firstname.lastname@example.org.
- Call: 1-844-940-Save (7283) (Monday-Friday 9am-5pm CST – excluding holidays)
- Send Save a shout-out through Facebook, Instagram, Twitter, or LinkedIn.
Invitation to upcoming Save accounts
Debit Invest cardholders are automatically subscribed to account updates via their email, which is where Save shares promotion updates and new account offerings.
Among the new account offerings include the Market Savings account, where users’ money can actually grow with average returns of 1.46%5 with Premium and 1.03%5 with Core. Like the Debit Invest card, the Market Savings accounts are FDIC insured.
Additionally, Save communicates marketing promotions through their newsletters. Most recently, Save awarded $1,000 in equivalent investments to Instagram followers who posted a selfie as they made purchases with their Save card.
¹ For each qualified spend using the Save Debit Invest card, Save buys a strategy-linked security whose investment value is equivalent to the dollar spent.
2 Average annual returns are based on hypothetical back-tested performance and are net of fees. Hypothetical back-tested performance is no guarantee of future performance and actual results will vary. Returns are subject to change daily. Minimum return will always be at least 0%. The return figures shown are for informational purposes only and are not actual customer returns. Returns shown are reflective of being invested in the Save Moderate Portfolio from 2006 to present. For more detailed information please see Hypothetical Back-testing.
3 To obtain FDIC-insurance coverage on your behalf, Save Advisers partners with various FDIC-insured member banks. The funds you provide will be deposited into accounts at one or more FDIC-insured partner banks. FDIC insurance coverage is limited to not more than $250,000 per qualified customer account per bank. Actual deposit insurance coverage may be lower if you have other funds deposited at the partner bank. You are responsible for determining the amount deposited in each account at the partner banks, and for monitoring the total amount of your deposits at each partner bank, to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. Learn more at: https://www.fdic.gov/deposit/deposits. Only the initial funds you provide will be deposited with the partner banks and will be eligible for FDIC insurance. Market returns are held in your Save account and are not FDIC-insured, are not bank-guaranteed, and may lose value. Maximum balance and transfer limits apply. Neither Save Advisers, nor its affiliates, is a bank. Apex Clearing Corporation is a member of Securities Investor Protection Corporation (“SIPC”), formed by Congress to protect “customers” of broker-dealers and to promote public confidence in the U.S. securities markets. Customers of a SIPC Member that fails financially are afforded certain benefits under the Securities Investor Protection Act (“SIPA”). These benefits are relevant only if the broker-dealer that “carries” a customer’s account fails and is liquidated under SIPA. At Apex, your investments are protected up to a maximum of $500,000 total, including $250,000 in cash balances. Coverage limitations apply. To learn more about SIPC coverage, visit the SIPC website at www.sipc.org.
4 For each successful referral, Save buys a strategy-linked security for each party whose investment value is equivalent to $1,500.
5 Average annual returns are based on hypothetical back-tested performance and are net of fees. Hypothetical back-tested performance is no guarantee of future performance and actual results will vary. Returns are subject to change daily. Minimum return will always be at least 0%. Return on Savings Calculation: We assumed that the Core Bundle would appeal to the 60-79.9% percentile of the income distribution and the Premium Bundle would appeal to the 80-99.9% percentile. We then assumed that they would have the average savings account balance for that income bracket on the Market Savings account and the median transaction account balance as debit spend on the Debit Invest Card every month. From the Survey of Consumer Finance, 2019 -Core Inputs: Debit Invest Spending $2,500 per month; Savings balance $28,690. Premium Inputs: Debit Invest Spending $5,000 per month; Savings Balance $51,940. We calculated the returns on each of those products and used that to calculate the return on savings: return on debit in dollars plus return on savings in dollars divided by savings balance in dollars equals Return on Savings. All return figures shown are for informational purposes only and are not actual customer returns. For more detailed information please see Hypothetical Back-testing. Source: https://www.federalreserve.gov/econres/scfindex.htm