M1 offers some of the services of a regular bank and brokerage: an investing platform, loans, and a checking account. You have to be an active member of M1 Plus to apply I tend to find the need to give away my email address a bit frustrating, but the approach seems to be working: M1 says they already have 45,000 people on the waitlist. The move mimics a lot of other alternative rewards cards as they work to build buzz around their new offerings. The card's launch involves handing over your data to join a waitlist for the application. M1 Owner's Rewards Card detailsīefore you decide on the M1 Owner's Rewards Card, there are a few important caveats to consider: You have to join a waitlist When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay. These cards won't be worth it if you're paying interest or late fees. We're focused here on the rewards and perks that come with each card. Here's what to know about the new M1 Owner's Rewards Card to help you decide if it's a good fit for you. For complete list of fees, visit M1 Fee Schedule.All other purchases earn 1.5% cash back, and the card comes with standard Visa Signature benefits. Other fees may apply such as regulatory, M1 Plus membership, account closures and ADR fees. Brokerage products and services are offered by M1 Finance LLC, an SEC registered broker-dealer, Member FINRA / SIPC.Ĭommission-free trading of stocks and ETFs refers to $0 commissions charged by M1 Finance LLC for self-directed brokerage accounts. Nothing in this informational site is an offer, solicitation of an offer, or advice to buy or sell any security and you are encouraged to consult your personal investment, legal, or tax advisors.īrokerage products and services are not FDIC insured, no bank guarantee, and may lose value. Using M1 Borrow’s margin account can add to these risks, and you should review our margin account risk disclosure before borrowing. ![]() Past performance does not guarantee future performance. "M1" refers to M1 Holdings Inc., and its affiliates.Īll investing involves risk, including the risk of losing the money you invest. M1 Plus is a paid membership that confers benefits for products and services offered by M1 Finance LLC, M1 Spend LLC and M1 Digital LLC, each a separate, affiliated, and wholly-owned operating subsidiary of M1 Holdings Inc. ![]() "M1" refers to M1 Holdings Inc., and its wholly-owned, separate affiliates M1 Finance LLC, M1 Spend LLC, and M1 Digital LLC. M1 is a technology company offering a range of financial products and services. M1 relies on information from various sources believed to be reliable, including clients and third parties, but cannot guarantee the accuracy and completeness of that information. All agreements are available in our Agreement Library. Margin rates may vary.īy using this website, you accept our Terms of Use and Privacy Policy and acknowledge receipt of all disclosures in our Disclosure Library. Not available for Retirement and Custodial accounts. Available margin amount(s) of M1 Margin Loans may require greater than $2,000 per Brokerage Account. Not all securities are available for M1 Margin Loans and the amount that may be borrowed against a security is subject to change without notice. Rates as of June 2, 2023.ĥ M1 Margin Loans are available on margin accounts with at least $2,000 invested per account. There is no Annual Fee for the Owner’s Rewards Card. ![]() APR will vary with the market based on the Prime Rate. Full terms of the Program can be found at m1.com/legal/agreements/HYSA_Agreement and a complete list of participating banks in the program can be found at m1.com/legal/agreements/depositnetwork.ĪPR ranges from 19.99% – 29.99% based on creditworthiness of the applicant. Deposits may be insured up to $5,000,000 through B2’s Insured Deposit Network Program. Additional FDIC insurance coverage is provided through B2’s Insured Deposit Network Program involving other FDIC insured depository institutions. Cash back rates of 2.5% – 10% require an active M1 Plus subscription (billed at $95 annually or at $10 monthly).ģ B2 Bank is a member FDIC institution and does not itself provide more than $250,000 of FDIC insurance per legal category of account ownership as described in FDIC regulations. Rates are subject to change.Ģ 1.5% – 10% Owner’s Rewards cash back earned on eligible purchases subject to a maximum of $200 cash back per calendar month. Higher APY rate subject to paid M1 Plus subscription. Stated APY is valid from date of account opening. 1 Obtaining stated APY (annual percentage yield) or opening a savings account does not require a minimum account balance.
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