Max works as a hub-and-spoke system, with your checking account as the center or 'hub' account, which in turn links to your higher-yielding online savings accounts as the 'spokes.’
The hub account in the center must be a checking account (and not a savings account), so as to comply with Regulation D, which limits you to no more than 6 outbound transfers from a savings account per month. Max's monthly optimization uses no more than 1 outbound transfer per month from each savings account.
Max currently supports checking accounts at the following banks and brokerage firms: Bank of America, Citibank, JP Morgan / Chase, Wells Fargo, BB&T, BBVA Compass, Capital One, Charles Schwab Bank, City National Bank, E*Trade Bank, Fidelity CMA, Fifth Third Bank, First Republic Bank, Huntington Bank, PNC Bank, SunTrust, TD Bank, US Bank, USAA, and Zions Bank.
If you wish to link Max to one or more of your existing savings or brokerage accounts, you can open a Max Checking account in as little as 60 seconds during sign up. Max Checking will serve as your ‘hub’ account, to which you can link any combination of checking, savings, and brokerage accounts at thousands of financial institutions nationwide.