ATM LIMIT: VARIABLE
ATM FEE: FREE
PREMIUM OPTION: NO
CUSTOMER SUPPORT: Email, Live Chat
MONTHLY FEE: $0
LOADING OPTIONS: Bank transfer or Check
CARD CHARGE: $0
What Is Unifimoney 📖
Many people experience difficulty when it comes to managing money and growing their wealth online. Once investments, bank accounts, bills and credit card repayments are considered, it can be hard to see the wood for the trees when aiming for financial clarity. Unifimoney has been designed to give you the clarity that you require. It is a digital money management app that brings banking, insurance, trading, mortgage payments, credit card debt and cryptocurrencies together to help you make more sense of your finances. The team at Unifimoney designed the service to help you manage your whole financial life.
How Does Unifimoney Work? 👨🏫
Unifimoney’s main service is an investment platform created to help users build and protect their wealth. It allows you to connect a checking account, credit card and debut card. With Unifimoney, you can back up any investments that you make with automated contributions when you spend your cash. Various parts of your financial life can seamlessly be connected by Unifimoney, and these include student loan payments, mortgages, loans and insurance. Although the app is only available on the iOS platform, it’s rumored that desktop and Android support is in the pipeline.
New customers can also benefit from rewards, which are paid to you in Bitcoin. The rewards that you receive will depend on how much cash you deposit within the first two weeks of opening your account. You can receive up to $1,000 in rewards. Once you have opened your Unifimoney account, you’ll have access to thousands of stocks and ETFs. You’ll also be able to get involved in precious metals trading whilst gaining access to banking services and cryptocurrency facilities. Also available are loan, insurance and credit card facilities.
You are able to choose between self-managed trading or AI-powered robo-investing. You don’t need to pay commission with self-managed investment. With robo-investing, your portfolio will be managed by sophisticated Tenjin AI. Investments will be reallocated depending on what the latest market trends are. With Tenjin AI Basic, you’ll need to pay an annual advisory fee of 0.15%. This will give you an annual rebalance. Tenjin AI Advanced gives you a quarterly rebalance, with the MarketCrash Index predicting downturns and adjusting your portfolio accordingly. You’ll be paying an annual advisory fee of 0.30% if you select this option.
Key Features of Unifimoney ⚙️
Unifimoney has been created to help you build your wealth automatically. Any checking account interest and credit card cash is sent to your Unifimoney Robo investment account automatically. Autoinvest requires you to invest a minimum $25 a month from your checking account into your investment accounts. This can be increased but it can’t be decreased. Should you wish to sell all or just part of your Robo fund, you can do this at any point.
How Much Does Unifimoney Cost? 💸
You don’t need to pay anything to gain ongoing access to a Unifimoney account, but you do need a minimum $100 opening deposit to get things underway. You can avoid banking fees by making a monthly direct deposit.
The Unifimoney App 📱
Once you’re ready to download the Unifimoney app, you can head to the website to get a text which will give you access to it. Alternatively, you can find the app in the iOS app store or scan a relevant QR code. The app is free to download. Once you have downloaded the app, you can register for an account. It should take around ten minutes for you to register. You’ll need to verify your ID and connect a bank account so you can transfer the opening deposit of $100.
Is Unifimoney Safe and Secure? 🔒
Unifimoney bank accounts are FDIC-insured via UMB Bank up to $750,000. Investments are SIPC-insured via Drivewealth. Unifimoney has SEC registration and is an investment advisor. Unifimoney can be used not only for stock market purposes but to buy, sell and trade alternative assets. Over 30 cryptocurrencies are available, and you can also trade precious metals. If you do purchase any precious metals, these will be held in a secure storage facility. Alternatively, you can have them delivered to your address.
Advantages of Unifimoney 👍
- Self-managed and robo investing available
- Crypto and stock market investing in the same platform
- Benefits for buying financial products from Uniformoney’s partners
- Auto-investing when purchases are made
Disadvantages of Unifimoney 👎
- No Android or desktop app currently available
- High minimum deposit requirements
Unifimoney is likely to be for you if you are a high earner with considerable cash to invest. The $1,000 Bitcoin reward has proved to be a very attractive perk for many, although you will need to make an initial deposit of at least $100,000 to receive this. Various perks are available as long as you carry out specific actions such as getting an auto insurance quote or home improvement loan, to give just a couple of examples.
Unifimoney also makes a donation to The Ocean Foundation each time you use your credit or debit cards. However, some have claimed the service isn’t as ‘unified’ as it claims to be, with users still needing to manage certain products by heading to the original financial services’ websites. However, it has been praised for the way it helps some users to “maximize” their money” by linking everyday banking and spending activities to investing.
The service is aimed at young professionals in the 20s and 30s earning high incomes of around $100,000 per year or more. You’ll also need to be based in the US if you want to take advantage of the service. Unifimoney is most likely to benefit you if you have good investment knowledge and sufficient capital for investment but don’t have a great deal of time to spend on money management. You’ll only receive the $1,000 Bitcoin reward if you’re able to make an initial deposit of $100,000 or more, which means many won’t be eligible for this perk. Nonetheless, if you are eligible to take advantage of this service and are not averse to risk, it could deliver big benefits.