Membership in Max costs 4 basis points (0.04%) per quarter. This equates to $40 per quarter per $100,000 on deposit in your online savings accounts.
Max's membership fee is subject to a minimum of $20 per quarter, so if your savings account balance is less than $50,000, you will be billed $20 every three months.
Because some banks choose to offer Max members higher rates than they might otherwise offer through their websites, Max members can often expect to earn more via Max than they could by opening online savings accounts on their own, even net of Max's membership fee. Max also helps you earn more by periodically proposing a reallocation of funds among your accounts so that you can earn more, even as rates change.
Your quarterly membership fee is calculated as the product of i) the total balances held in your linked online savings accounts and ii) 0.04% (four basis points), subject to the minimum fee listed above. There is no fee charged on the balances held in your checking account, and there are no other monthly fees, account minimums or transfer fees imposed by Max.
Your first invoice will be calculated 15 days after the completion of your first optimization, and then every 90 days thereafter. You'll receive an email notification when each quarterly fee is calculated, and you'll have 10 days to review the calculation before the fee is collected from your linked checking account by ACH.
You can view the calculation of your quarterly membership fee by clicking on "Profile" atop your Max Dashboard, then click on the "Billing History" tab, and then click on "Quarterly Membership Fee" next to the date of your most recent invoice.
After you have completed your first optimization, you can earn credits to offset your quarterly membership fee by inviting your friends and colleagues to join Max. For each friend who joins, you and your friend will each earn a $20 credit as soon as they complete their first optimization. Simply click on "Invites" atop your Max Dashboard to get started.