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The Waitlist Explained

  • March 23, 2019

As a company, Financial Life has two distinct groups of customers: we have you – the individual consumer – and we have our bank partners. As we work through the final stages of establishing our contracts with our bank partners and put the finishing touch on our technology, we’re starting the process of getting individuals interested in and knowledgeable about Financial Life.

Show that you're interested


Think of the waitlist like a petition - you're adding your name to a list that says you're interested in what Financial Life has to offer.

In exchange for adding your name, we're giving you a higher initial rate (starting at 2.30% instead of 2.20% if you join the list by April 15) and the ability to earn even higher rates by referring other customers.

It’s that simple


When your friends, family, Facebook acquaintances, long-lost relatives, and that one guy from accounting join, they just need to click on your unique link when they add their name to the list. It’s that simple.

For every person who signs up through your link, you’ll get a six-month rate boost of 0.10%. This means that if you get 10 people to sign up, you’ll have a 1.00% rate boost – so the rate in your FDIC-insured savings account will be 3.30% (assuming you sign up by April 15).

The more the merrier


You’re also getting a higher rate each time one of your referrals gets someone to sign up. We want to encourage everyone to share the good news, so for every one of your referral’s referrals, you get a six-month rate boost of 0.01%.

If we start with the above example where you get 10 referrals – let’s imagine that they each get 10 referrals too. That would mean that you get an extra 1.00% just from the activity of your referrals (10 referrals each getting 10 referrals is 100 indirect referrals).

Referral Calculator


We know that this can be a lot to follow – that’s why we created our referral calculator. It’s an easy way to figure out what the referral activity will do for your rate.

Why do we have a waitlist?


You might be wondering why we even need a list - and that's a good question. The waitlist allows us to give our bank partners confidence that we will hit the ground running when we go live and it gives our investors confidence that people are actually interested in earning more in savings accounts. And it allows us to start offering great rates to everyone today!

Only your name and email are required


To get started, all you need to do is add your name and email to the waitlist. Nothing more. We're not accepting deposits yet - we're still working through details with our bank partner.

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