Unifimoney has launched an online tool to help consumers quantify how much money they lose in interest by putting money in poor performing bank accounts.
San Francisco, California (January 23, 2020) — Unifimoney Inc. (Unifimoney) has launched an online tool to help consumers quantify how much money they lose in interest by putting money in poorly paying checking and savings accounts.
Over $10 trillion is held by US banks in deposits paying rates that are effectively zero and losing consumers over $170 billion in interest every single year. The average APY in the market for checking is 0.06% and savings is little better at 0.09% – for the top 10 banks even lower. APY’s of over 1.5% are easily achieved in the market.
Ben Soppitt, founder and CEO of Unifimoney had this to say: “There is no reason anyone should have money in any account paying less than 1.5% at current Fed rates. Banks are not passing on fair value to consumers, the almost $200bn lost to consumers every year is money that should by rights be in consumers’ pockets and not banks’ income statements”.
Unifimoney seeks to alleviate the time, energy and anxiety of managing one’s personal finances – saving, spending and investing. Maximizing user’s passive income and long-term growth without the associated effort. Focusing on high earning young professionals while addressing systemic issues in the financial services industry, such as minimal interest rates associated with checking and savings accounts.
Unifimoney offers a single account which incorporates a hybrid checking/savings account (so 100% of users fund earn maximum interest 100% of the time), credit card and Robo investment platform. Unifimoney’s platform streamlines everything for you. It consolidates and automates personal finances so that individuals can maximize their earnings – and their free time.
You can find the calculator here https://unifi.money/calculate/
Unifimoney is introducing a new way to manage money: it allows users to create a single account that integrates a high-interest checking account, credit card, and Robo-advisory platform. By default, users’ personal financial management is automated to maximize their passive income and their long-term financial growth – with minimal effort. Learn more at www.unifi.money
email us here
Source: EIN Presswire