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 or brokerage 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) link your existing checking/brokerage account or 2) open a new Max Checking account, which takes as little as 60 seconds.
Linking your Existing Checking/Brokerage Account
Max supports linking your checking account at your choice of 20 of the largest banks and brokerage firms in the country. We suggest linking your existing checking/brokerage 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 optimize your accounts to help you earn more while keeping all funds FDIC-insured; as part of that optimization, Max will sweep funds to/from checking to help you maintain your Target Balance. If your checking account balance exceeds your Target Balance at the time of your monthly optimization, excess cash will be swept to your higher-yielding online savings accounts; if your checking balance is lower than your Target Balance, funds will move from your online savings accounts back to your checking account to restore your checking account to your Target Balance.
Using Max Checking
If you don’t have a checking account at one of the 20 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 a high-yield, FDIC-insured, checking account that is fully integrated into Max and has no monthly fees or minimum balance requirements. During each optimization, 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/brokerage 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
Step 2: Open/Link Savings
The Max Common Application makes it easy to open multiple high-yield savings accounts in just a few minutes. Opening new savings accounts does not affect your credit score, and enables you to benefit from preferential rates available exclusively through Max. 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 the Max Dashboard. Max will 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.
Thereafter, Max monitors interest rates daily and periodically rebalances 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 / brokerage 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, transfer funds, 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 is powered by Radius Bank, Boston, MA FDIC #32551