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Envel (envel.ai) is a new mobile banking app that uses artificial intelligence to improve your financial health. It automatically manages your spending, as well as your payments and savings, taking the headache out of budgeting.
|Features||Banking, bill payment, budgeting, saving|
|ATMs||37,000+ in the MoneyPass network|
|Works With||Apple Pay, Google Pay|
|FDIC Insured||Up to $250,000|
Envel is a finance app that automates banking, payments, budgeting, and savings. Simply let Envel know how much you make, your regular expenses, and your financial goals. The app will automatically set aside money in each Envelope when money comes into your account.
- Up to 99 FDIC-insured bank accounts. These are your Envelopes. Label them like spending categories, for example, Groceries, Vacation, Gas, Bills, Coffee…anything you’d like.
- Envel Visa contactless debit card. Freeze, unfreeze, or order a new one from the app.
- Auto bill payment. Tell Envel your different bills, due dates, and payment frequencies, and the app will make sure all your bills are covered. You’ll never miss a bill payment again.
- Autopilot budgeting and savings. Envel will automatically split your deposits into Envelopes, according to your expenses and savings goals.
- Instant money transfers to any Envel user.
- Direct deposit 2 days early. Access your paycheck in advance (based on your employer).
- Shared envelopes. Anyone who is invited to share can contribute to the funds.
- Customizable color themes and modes. Choose your own background and theme, as well as humor level (funny, sarcastic, or off).
If you run into any issues or have questions, you can contact the support team via live chat, Discord, Reddit, or their Community Forum.
Envel does not charge any monthly or service fees. They do not require a minimum balance, and you get free withdrawals at 37,000+ MoneyPass ATMs.
Envel is a free digital bank with a built-in envelope budgeting system. It’s a good fit if you want a checking account that also helps you budget automatically.
You might also be interested in Douugh. It’s like Envel, but with an added automatic investing feature. They’re currently offering a $20 welcome bonus.
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