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Zeta is a financial technology company that focuses on providing a joint banking experience through its mobile app. (Deposits are handled by Piermont Bank, member FDIC.) Users can easily share bills and manage finances through Joint and Personal accounts. See all that Zeta has to offer in our complete Zeta review.
Zeta has two account types, Joint and Personal. Users must begin by opening a Joint account. Personal accounts are only available for active Joint account users.
This is the foundation of a Zeta account, and it's a checking account that can easily be shared by couples (and potentially whole families, though Zeta is still working on those features). But it's not only couples who are eligible to share a Zeta Joint account. Co-parents, friends, roommates, and friends can also team up to share an account. Users will share a true joint account, in that all funds will be equally owned between the two account holders.
Joint accounts have no monthly fee and no minimum balance requirement. That said, if you have at least $1,000 a month in direct deposits or a minimum balance of $5,000, you'll reach VIP level and can earn interest on your deposits (the APY is decent, but not the best).
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Zeta
Zeta's interface and extra features can be useful for couples who want to seamlessly blend their finances. A lower APY and lack of other product offers could be limiting for some folks.
Zeta is a financial technology company, not a bank. Banking services provided by Piermont Bank; Member FDIC.
As long as you are part of an active Joint account, you can also open a Personal Zeta account. This lets you manage those finances you want to keep separate while also easily interfacing with your Joint account.
Personal accounts have no monthly fee, and your account will have its own individual account number and debit card. You can use many of the same features as the Joint account, including everything in the Zeta mobile app, like help from the Zeta Concierge.
We recommend comparing checking account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.
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Zeta itself is a tech company, not a bank. (The banking side is handled by Piermont Bank.) So what you get from going through Zeta, rather than getting an account right from a bank, is the suite of extra banking tools and features and access to the Zeta app.
With that in mind, there are two different tiers of Zeta membership. The free Zeta membership includes up to three bank accounts and three household members. It offers all the basic features, including Zeta's envelope system, digital banking, and Zeta Pay.
If you want access to the premium features, you need Zeta+, which costs $6.99 a month. With Zeta+, you can have up to four accounts and four household members. You also unlock Automation+, a host of custom automations for bills and goals, and Cards+, which offers more virtual cards and additional card controls.
For a newcomer to the banking app space, Zeta has managed to integrate a nice menu of features, including:
The company hasn't been around for all that long, so there's limited feedback about its services. Browsing user anecdotes and comments, it looks as if most folks are pretty happy with their accounts. Zeta's mobile banking apps have decent reviews, rating 3.9 out of 5 stars in the Google Play store and 4.5 out of 5 stars in the App Store.
iOS App Rating | 4.5/5 stars |
---|---|
Android App Rating | 3.9/5 stars |
Cost | Free |
Regarding customer service, Zeta is a bit unique in that it assigns you a dedicated Zeta Concierge when you create an account. You can contact your Concierge through the app to get assistance on a variety of issues.
Zeta also offers email support. What's more, the team seems to be fairly active on social media; even the r/ZetaJointCards subreddit seems to be actively monitored by customer service folks.
Unfortunately, Zeta is a young enough service that it isn't set up for relationship benefits like some giant banks. (On the plus side, younger, smaller companies tend to take feedback more readily, and you can be a part of growing the service.)
Although some folks might find its features useful, Zeta isn't for everyone. There are other joint bank accounts out there that are simpler, with fewer features but cleaner interfaces, debit rewards, or even better interest rates.
If you want a bank that acts like a tech company, Discover could be a good fit. Discover is an online-only bank with a great customer service reputation, and a very highly rated mobile app. The Discover® Cashback Debit checking account has a joint option, no monthly fees, and even earns 1% cash back on up to $3,000 in debit card purchases each month.
SoFi is another online bank with the heart of a tech company, offering tons of digital banking features, including a solid mobile app. SoFi Checking and Savings is a dual account option that pairs both checking and savings in one place, and you can set it up as a joint account without much hassle. You can even earn a competitive APY when setting up direct deposit.
Zeta could be a good choice if you:
No. Zeta is a financial technology company, but it isn't a bank. Instead, your deposits are held by Piermont Bank, member FDIC.
The funds in joint accounts are equally owned by both people on the account.
Yes. Personal Zeta accounts are only available to active Joint account users.
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