Setting Your Target Balance

What is the Target Balance?

When you enroll with Max, you will be prompted to set up a Target Balance for your central checking account (either Max Checking or your existing checking account.)

The Target Balance is the amount maintained in your central checking account after each optimization. As part of your optimizations, Max will help ensure that your central checking account is restored to its Target Balance by transferring funds to/from Optimized Savings:

• If your checking account balance exceeds your Target Balance, excess funds will be transferred from checking to your Optimized Savings.
• If your checking account balance is lower than your Target Balance, funds will be transferred from your Optimized Savings to checking, to top up the balance. 

If you are using Max Checking:

The minimum Target Balance is $100.00. We recommend maintaining a minimum Target Balance of at least $40.00 for every $100,000.00 you want to keep in Max. This ensures that your Max Checking account stays open with a sufficient balance for your Max Membership Fee, which is deducted from Max Checking quarterly.

Funds above your Target Balance will be allocated to your Optimized Savings where they can earn more. 

If you are using a personal checking account:

If you are using an existing checking account as your central account, then you will want to make sure your Target Balance is high enough to handle any monthly expenses.

Max takes your Target Balance into consideration when proposing optimizations, such that at the completion of each optimization, your checking account balance should equal your Target Balance: 

• If your checking account balance exceeds your Target Balance at the time of an optimization, Max will propose to sweep excess cash into your high-yield savings accounts, where it can earn more.
• If your checking balance is lower than your Target Balance, Max will help you move your funds from your lowest-yielding savings accounts back into your checking account.

For more information, please refer to our guide: What happens during an optimization?

How to edit the Target Balance:

1. Log in to your Max Dashboard.
2. Click the settings/gear icon next to your checking account.
3. Scroll down to the section header: "MAX CHECKING ACCOUNT INFORMATION" and click the gear icon next to the current "Target Balance."
4. Type the desired Target Balance ($100.00 is the minimum permitted)
5. Click the Save button.
6. Optional: Navigate back to the Dashboard, and click the green arrows to "Optimize Now."