Affirm Money Review 2026: Savings
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
Affirm is a nonbank financial tech firm that offers short-term, "buy now, pay later" loans for purchases during the checkout process as well as a savings account with a solid yield. Affirm does not offer a checking account or certificates of deposit, but it has a Visa debit card attached to the savings account. You can access your savings account and card through Affirm’s mobile app, and you can reach customer service by phone, online form and online chat.
The main selling point of Affirm’s savings account is earning some money while having access to convenient “buy now, pay later” plans for customers shopping on a tight budget. But BNPL plans come with costs and credit risks that can make it harder to save money.
The debit card works for everyday purchases but lacks common and important services, such as no ATM access, so we didn’t give it a star rating. See more options on our list of best checking accounts, which come with debit cards.
No monthly fees.
No minimum opening deposit.
No branch access.
No checking account or CDs offered.
Product reviews
Savings
Solid rate, no minimums. The Affirm Money account makes it easy to earn interest. There’s no minimum to open or to earn interest and no monthly maintenance fee.
Limited-use debit card attached. The savings account comes with a Visa debit card, called the Affirm Card, that has a rare “buy now, pay later” feature. You can get a short-term loan to pay for purchases in installments online and at physical store checkouts. You request a payment plan in the Affirm app before or soon after the purchase. The debit card also works for regular purchases, but that’s where its services end. It doesn’t allow ATM withdrawals and can’t be used on external money transfer apps such as Venmo.
Limited withdrawal options. You will need to link the Affirm account to an external bank account to set up electronic transfers for deposits and withdrawals. Affirm, a neobank, does not offer mobile check deposits.
The account can be accessed online or via mobile app, and you can use either option to set up automatic transfers or direct deposits to help you build your balance regularly. Funds have Federal Deposit Insurance Corp. (FDIC) insurance through partner banks.
Affirm Money
Customer experience & overdraft fees
Customer experience
What to know about neobanks: These nonbanks can be solid options for consumers who prefer managing money online and are comfortable at a nontraditional place to bank. But neobanks differ from banks in important ways that can pose risks, especially related to deposit insurance.
• Neobanks are third-party platforms that don’t hold your money.
Customer funds from Affirm and other neobanks are held at partner banks for FDIC insurance. If a partner bank goes bankrupt, neobank customers’ money is protected – as long as the neobank maintains accurate records.
• If a neobank goes bankrupt, there is no FDIC insurance involved.
It’s up to the neobank to ensure customers get their money back, which may involve delays and potential loss of account access. Banks, in contrast, receive prompt assistance from the FDIC if they fail.
• Neobanks often lack some traditional banking services.
Neobanks tend to offer accounts at low costs and with attractive rates or other features but don’t usually have everything a bank offers. For example, don’t expect in-person customer service, physical checkbooks or certain specialty transactions often for large purchases, such as wire transfers and cashier’s checks.
Multiple support channels. Affirm does not have in-person branches, but you can reach out by phone, online form submission, and online chat to speak to a customer service representative. Phone support, which includes a callback option, is seven days a week, and online chat is weekdays only.
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.