FOR IMMEDIATE RELEASE
MaxMyInterest Adds New Optimize-On-Demand Feature to its Landmark Cash Optimization Service
Allows Members to Rebalance Accounts Whenever They Choose
New York, NY, July 30, 2015 — MaxMyInterest, an intelligent online cash management solution that helps investors automatically maximize the interest they earn on their bank deposits, has added a new Optimize-On-Demand feature to its website. Max members can now instruct the service to rebalance their bank accounts whenever they wish with one click. Max members can also see a preview of the transfers to be performed before initiating each optimization. By default, Max rebalances accounts automatically every month to help investors earn more on their cash in the bank, but now members have the option to schedule additional optimizations at will.
MaxMyInterest is the first financial technology solution to provide individual investors with an automated “cash sweep” solution that maximizes both FDIC insurance coverage and yield. MaxMyInterest members link their existing checking account at leading banks including Bank of America, J.P. Morgan/Chase, Citibank, and Wells Fargo to higher-interest-earning online savings accounts at banks such as GE Capital Bank, Barclays, Ally Bank, American Express and Capital One 360. Max works automatically thereafter, maximizing yield even as rates change.
Today, MaxMyInterest members are earning a weighted average 0.99% on their cash, as compared to the Bankrate.com national savings average of 0.09%, or most money market funds that yield even less. In addition, MaxMyInterest helps members gain additional FDIC insurance coverage on their cash in the bank, up to $5 million per couple.
“Thanks to feedback from our members, we have added Optimize-On-Demand to our suite of cash management features,” said Gary Zimmerman, Founder and CEO of MaxMyInterest. “Now Max members can initiate optimizations on their own schedule, from any mobile device.”
Investors can join MaxMyInterest.com from any computer, tablet, or mobile phone. The site contains explanatory videos and an interactive calculator that shows investors how much more they could earn by using Max to optimize their cash automatically.
MaxMyInterest is an intelligent cash management solution that helps individual investors earn more on FDIC-insured bank deposits. Max’s patent-pending cash sweep technology monitors interest rates and automatically reallocates funds among a client’s existing checking account and higher yielding online savings accounts to maximize interest income and FDIC insurance coverage while maintaining a desired checking account balance. Americans, who are currently sitting on more than $3 trillion in bank deposits and money market funds, could be earning billions more in interest each year via Max, automatically. Max is not a bank and never takes custody of client funds. Members keep their existing checking accounts, so direct deposit, bill pay, and access to tellers and notaries remain unchanged. Max is available direct to individuals via MaxMyInterest.com, and can also be integrated into wealth management platforms, so that banks, brokerage firms, registered investment advisors and multi-family offices can deliver better cash solutions to their clients.
Max is a service of New York City-based Six Trees Capital LLC.
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