Once you submit the Max Common Application, the information you have supplied will be securely sent to the banks you have selected. Account decisioning is handled directly by each bank, and they will endeavor to make an instant decision on your application, typically within 60 seconds.


Your application will either be accepted, declined, or sent for further review.

  • Accepted: Your new account is open and will automatically link to Max.

  • Declined: If the information you supplied does not match public databases (for example, if you’ve mis-typed your SSN), your application may be declined by the bank. You may re-use the Max Common Application to re-apply if you wish.

  • Sent for further review: Occasionally, banks will want to be in touch with you directly to verify certain information related to your application. This may occur if you have moved recently or if you have frozen your credit file (opening new savings accounts has no negative impact on your credit, but some banks perform a ‘soft check’ to confirm your identity). You can expect the bank to reach out to you by phone or email to verify your identity. Once your application is approved, your new account will automatically link to Max.


Once you've opened or linked at least one online savings account, you can click “Start Earning More” on the Max Dashboard. Max will start your first optimization, proposing the optimal set of funds transfers to help you maximize the interest that you earn while keeping your funds below the FDIC insurance limit at each bank and then relaying your transfer instructions on to your banks. This optimization process will also help you maintain your checking account balance to match your desired Target Balance. After your first optimization, Max will propose an optimization of your accounts every month thereafter, unless you edit your optimization schedule.