Max is an intelligent cash management solution designed to help you earn more on your cash, no matter where you bank or invest.
With Max, you can link your existing checking account or new Max Checking account to higher-yielding savings accounts at some of the nation’s leading FDIC-insured online banks. You’ll hold all accounts directly in your own name and you will retain full and direct access to each account. The Max Common Application makes it easy for you to open new accounts in as little as 60 seconds.
You can enroll for Max by visiting MaxMyInterest.com and clicking "Join Max" or “Get Started.”
Step 1: Link Checking
During enrollment, you can either 1) select Max Checking or 2) link your existing checking account.
Using Max Checking
If you don’t have a checking account at one of the 18 banks supported by Max, if you’d like to link multiple checking, savings, and brokerage accounts to Max, or if you’d like to keep your funds in savings separate from your regular checking account, Max Checking might work best for you.
Max Checking is an FDIC-insured checking account that is fully integrated into Max and has no monthly fees or minimum balance requirements. Each time you optimize your accounts, funds will flow in/out of your Max Checking account. With Max Checking, you’ll also gain free ATM access worldwide and can earn reimbursement of your Max membership fees, up to $200/year.* You can open up a Max Checking account in as little as 60 seconds using the Max Common Application. If you’ve already linked your existing checking account to Max and would like to switch to Max Checking, switching is simple: How can I switch my checking account?
* Learn more at MaxMyInterest.com/MaxChecking
Linking your Existing Checking Account
Max supports linking your checking account at your choice of 18 of the largest banks in the country. We suggest linking your existing checking account if you would like Max to help you maintain a constant checking account balance from month to month.
You’ll specify a Target Balance -- the amount of funds that you would like to keep in your checking account. Each month, Max will show you how you can optimize the allocation of cash across your accounts to help you earn more while keeping all funds FDIC-insured. In connection with each optimization, Max will propose that you move funds to/from checking to help you maintain your Target Balance. If your checking account balance exceeds your Target Balance at the time Max calculates your monthly optimization, Max will propose that you move excess cash from your checking account to your higher-yielding online savings accounts. If your checking account balance is lower than your Target Balance, Max will propose that funds will move from your online savings accounts back to your checking account to restore your checking account to your Target Balance. If you do not adjust Max’s proposed optimization, Max will send your funds transfer instructions to your banks on your behalf so that they can help you optimize your accounts. Your banks will then execute funds transfers between your checking account and online savings accounts in accordance with your transfer instructions.
Step 2: Open/Link Savings
The Max Common Application makes it easy for you to open multiple high-yield savings accounts in just a few minutes. If you already have online savings accounts at other leading online banks, you can link those accounts to Max as well.
Step 3: Optimize
Once you have linked at least one savings account, you can initiate your first Optimization by clicking “Start Earning More” on your Max Dashboard. Max will propose that you move all funds above your pre-set Target Balance to your highest yielding savings accounts, while keeping all funds below the FDIC insurance limit at each bank, helping ensure that you earn the highest yield possible while keeping your funds FDIC-insured. If you do not adjust Max’s proposed optimization, Max will send your funds transfer instructions to your banks on your behalf to implement the proposed optimization. Your banks will then execute funds transfers between your checking account and online savings accounts in accordance with your transfer instructions.
Thereafter, Max monitors interest rates daily and periodically proposes to you how to rebalance the funds among your own accounts to help ensure you continue to earn the highest yield while remaining fully FDIC-insured.
Whenever you need funds, it’s as simple as one click to move money back to your checking account. The “Transfer Funds” feature can be found at the top of your Max Dashboard. You may also request additional optimizations whenever you like by selecting “Optimize Now.”
Max is not a bank and does not take custody of your funds. All funds remain in your own bank accounts at all times. Max simply helps you manage your accounts in an optimal manner, maximizing yield and FDIC insurance coverage while providing an easy interface through which to view your balances, instruct Max to send your funds transfer instructions to your banks on your behalf, and obtain year-end tax reports.
If you have questions about getting your Max account set up, please consult the Max Setup Guide.
Max Checking powered by LendingClub Bank, N.A., Member FDIC #32551.