Savings+ Basics

3 Sections

What is the free life insurance with Savings+?

The free life insurance payout is exactly how it sounds. It’s an added layer of protection at no extra cost and can g...

What is a high-yield savings account?

A high-yield savings account is exactly what it sounds like: the annual percentage yield (APY) is higher than the nat...

What is Savings+?

Savings+ is America’s first-ever high-yield savings account with an additional life insurance payout of up to $10,000...

What Happened to Wysh Savings+?

We understand you may have questions about the recent changes to your Savings+ account. Below, we’ve provided answers...

How is the free life insurance calculated?

Your life insurance payout is 1% or 10% of your average account balance for the last three months (depending on what ...

How can my family receive the free life insurance payout?

If an account holder passes away, the life insurance linked to their account will be added to their savings and given...

Is there a minimum account balance I need to have?

Nope! There isn't a minimum balance.

How often do I accrue interest in my account?

The interest on your account will be compounded daily and credited monthly

Are there overdraft fees?

No way! Savings+ accounts only allow ACH transfers from within the Wysh app and will not allow transfers initiated by...

Do I need to pay a fee in order to have a Savings account?

Savings+ wants your money to stay yours! There are no fees required to have a Savings+ account.

Why do you need my SSN (Social Security Number)?

We use your social security number to setup your account and verify your identity when you want to access or make cha...

How do I know my personal information is secure?

Wysh does not sell personal information to third parties, and adheres to strict security protocols to ensure that all...

Why was I denied a Savings+ account?

Account denial can occur due to several reasons, including: Identity Verification Failure: If the applicant's provid...

What are some common reasons for identity verification failure?

Identity verification can fail for several reasons: Incorrect Information: Providing inaccurate personal details, su...

How can an applicant ensure a successful identity verification process?

To increase the likelihood of a successful verification: Double-check the accuracy of all provided personal details....