Empower Personal Dashboard review

The account pays a variable rate, and the current headline figure is 3.5%. Because the rate type is variable, that number can rise or fall with market rates, so treat it as a starting point rather than a locked deal. The site median for headline rates is 3%.

The monthly fee is $0, the same as the site median of €0, and the minimum deposit is $0. On minimum deposit it ranks 1 of 370 brands, so a small balance is enough to open one.

Deposits are covered by FDIC up to USD 250,000. The account is provided by Empower Annuity Insurance Company of America, and the advisory side is registered with the Securities and Exchange Commission as Empower Advisory Group, LLC. That makes it an insurance company and an SEC registered adviser rather than a bank account.

Both deposits and withdrawals go through the Empower Dashboard, on the website and in the mobile app, with access as easy as a checking account. Support runs on email, phone and help centre, so help is available by phone, by email and through a help centre.

It is a cash management account, the smallest field in this comparison at 4.1% of the site mix. Cash-management accounts are built for holding and moving money day to day, and the rate is variable rather than tied to a fixed period.

The provider is headquartered in the United States and has run since 2014, so it is built for US savers. It suits households that keep a working balance and want it to earn 3.5% while staying reachable, rather than setting money aside for a term.

On headline rate it ranks 184 of 473 brands, and the site median is 3%. Its overall score is 6.1, made up of cost at 6.5 and offer at 5.6.

AXI Card Tarjeta y Credito lists 21.59%, Plazo ES lists 24.19% and PayPal Colombia lists 3.3%, against 3.5% here. Those headline rates sit on credit and wallet products, while this is a cash balance you can withdraw from.