Experian Makes Saving Even Smarter With New High Yield Digital Savings Account

The new Experian Smart Money™ Digital Savings Accountⁱ offers variable APYs up to 4.00%ⁱⁱ, no minimum deposit and an easy way to earn more

COSTA MESA, Calif.--(BUSINESS WIRE)--Expanding its resources to empower consumers to save and manage their financial health, Experian announces the launch of the high-yield Experian Smart Money™ Digital Savings Account designed to help consumers earn faster with variable Annual Percentage Yields (APYs) up to 4.00%, nearly 10 times the national average savings rateⁱⁱⁱ. At a time when inflation remains stubborn, Experian members can benefit not only from competitive APY rates but also no minimum deposit or direct deposit requirement.

Helping consumers earn and save faster

Built into the Experian memberships, the high-yield Experian Smart Money Digital Savings Account allows members to enjoy the benefit of competitive interest rates that compound daily helping even small balances grow more quickly. For those building up emergency savings or managing a budget while looking to grow their wealth at the same time, the Experian Smart Money Accounts can help Experian members reach their goals throughout their financial journey.

In fact, saving more is consumers’ top New Year’s resolution, according to Experian research—making the new Round Up^iv feature a valuable tool as well. Experian members with both an Experian Smart Money™ Digital Checking Account and Digital Savings Account, along with an eligible paid membership can take advantage of having their debit card purchases from the Experian Smart Money Digital Checking Account rounded up to the nearest dollar. The spare change is transferred to the member’s Experian Smart Money Digital Savings Account for automated savings, making every purchase a driver for growth.

“We know saving is imperative for many people and this will help make it effortless so they can reach their goals faster,” said Sean Healey, General Manager of Digital Products, Experian Consumer Services at Experian. “Experian is committed to giving people smarter ways to manage their money as their financial co-pilot, and now they have even more opportunities to build a financial cushion.”

An Experian membership also delivers access to an Experian credit report, auto insurance comparison shopping service, credit card marketplace, dark web monitoring, credit monitoring, and more. In addition, an AI-powered virtual assistant is available 24/7 that can provide personalized educational information and tools for money management based on a member’s Experian credit profile.

As consumers’ “BFF” – Big Financial Friend – Experian is here for consumers to lean on throughout their financial lives. Learn more at http://www.experian.com/savings.

The Experian Smart Money™ Debit Card is issued by Community Federal Savings Bank (CFSB), pursuant to a license from Mastercard International. Banking services provided by CFSB, Member FDIC. Experian is a Program Manager, not a bank.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realise their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and to innovate. A FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 25,200 people across 33 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

MEDIA CONTACT
Sandra Bernardo
949 529 7550
Sandra.Bernardo@experian.com