Online account · FDIC insured through partner banks
Empower
Your money is held at UMB Bank. Based in Greenwood Village, CO. It opens accounts online nationwide.
Rates
No Carrot Score: scores compare banks and credit unions, and Empower holds your money at UMB Bank. Its rates are below, with what each one takes.
- Savings—3.50%3.70% with extra requirementsSavings rates →
Empower isn’t a bank. Deposits are FDIC-insured through UMB Bank up to $5,000,000 per depositor, as Empower states; that covers a bank failing, not Empower.
About Empower
Empower Personal Cash is a cash management account with checking and savings features, offered by Empower, a financial services company.
It's offered through Empower Personal Wealth, which isn't an FDIC-insured bank; you open an account at UMB Bank, which places funds at a network of program banks.
Empower's parent company, Great-West Lifeco, created Empower in 2014; Empower calls itself the second-largest retirement services company in the U.S.
- Headquarters
- Greenwood Village, CO
Eligibility
Who can open an account
From Empower’s own terms and help pages. Check with Empower before you apply.
- Must be a U.S. citizen or resident alien.
- Must live in the United States; residents of U.S. territories aren't eligible.
- Must be at least 18.
- Must not be subject to IRS backup withholding.
- No subscription: the account has no account fees; Empower Personal Strategy Private Client status only unlocks the higher premium rate.