Best Microsavings Services

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New microsavings accounts and startups are popping up all over the place. Their goal is to make saving money accessible and easy for everyone. You don't have to make a lot of money or have a ton of discipline. You just have to start by saving a small amount of money on a consistent basis, and these tools aim to streamline that process so you never have to think about it.

Microsavings accounts cater to very small deposits that are transferred from your bank into a separate savings account that has little-to-no balance minimums. You simply save a few dollars every week and watch as your balance grows steadily over time. With a microsavings account, your biggest asset is time. The sooner you start saving, the longer amount of time you have to reach a specific financial goal, which puts less stress your bank account in the short-term.

Here's a breakdown of the best microsavings tools currently available in online banking, and how they stack up against each other. We've thoroughly reviewed and tested each service listed below. Click the “read review” link to learn more, or click the “visit website” button to try it out for yourself.

ServiceMinimum Investment & FeesOur Rank
Rize
Minimum Investment: $0
Fees: Savings - Pay What You Want; Investing - $2/month
8/10
Clink App
Minimum Investment: $0
Fees: Free
6.5/10
Qapital
Minimum Investment: $10
Fees: $3/month for Basic; $6/month for Complete; $12/month for Master
8/10
Simple
Minimum Investment: $0
Fees: Free
7/10
Digit
Minimum Investment: $0
Fees: $2.99/month
7/10
Acorns
Minimum Investment: $0
Fees: $1 a month for the Lite plan; $3 a month for the Personal Plan; $5 a month for the Family plan.
8.5/10
Stash Invest
Minimum Investment: $0
Fees: Beginner Plan: $1/month; Growth Plan: $3/month; Stash+ Plan: $9/month
8.5/10

Larry Ludwig

Larry Ludwig was the founder and editor in chief of Investor Junkie. He graduated from Clemson University with a bachelor of science in computers and a minor in business. Back in the ’90s, I helped create some of the first financial websites for firms like Chase, T. Rowe Price, and ING Bank, and later went on to work for Nomura Securities. He’s had a passion for investing since he was 20 years old and has owned multiple businesses for over 20 years. He currently resides in Long Island, New York, with his wife and three children.

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