There’s been a proliferation of fintech companies looking to bundle banking, brokerage, and cryptocurrency services all in one app.
The latest of these is Fierce Finance.
Fierce Finance offers a Fierce Cash account that is an FDIC insured account that earns 5.25% APY. Banking services are provided by Cross River Bank (FDIC #58410) so it’s FDIC insured. The account also offers a deposit bonus, which we will detail below.
They also offer a Fierce Stock portion of the app that operates like a brokerage – letting you invest in stocks, ETFs, and crypto. Stocks are SIPC-insured via FIN2 (CRD#: 316863/SEC#: 8-70818).
The only limitation is that the account is accessible via iOS app only.
If you’re interested in getting a cash bonus for opening an account, here are the details:
Table of Contents
Fierce Finance has a new deposit bonus that is only based on how much you deposit. Open a Fierce Cash account and transfer funds into the account within 30 days, the bonus is based on this cumulative amount:
| Deposit Amount | Deposit Bonus |
|---|---|
| $1,000 – $9,999.99 | $25 |
| $10,000 – $29,999.99 | $100 |
| $30,000 – $99,999.99 | $200 |
| $100,000+ | $500 |
The bonus terms are straightforward. The cumulative value must remain in your account for a minimum of 180 days – that’s it. Your bonus will be credited to your Fierce Cash account at the end of the following month.
Then, your account must be kept open for 210 days from time of qualifying.
Before you balk at the long timeline (and it is a bit long), your Fierce Cash earns interest too – a very competitive 5.25% APY!
How does this compare?
The bonus amount has a nice high ceiling of $500 when you deposit at least $100,000 but that’s only half a percent of a bonus. By comparison, if you had $100,000 and were to put it into Citi, you’d get $1,000 – or twice as much.
The difference is that Citi’s account pays only a little bit of interest (less than half a percent the last time I checked) and Fierce currently pays 5.25% APY. Over the course of six months, that can make a huge difference. Neither offer requires a direct deposit, so it’s a wash there.
If you have a direct deposit, there may be better offers out there:
⭐Citi Priority Account – up to $2000
Citi Priority is offering up to $2000 bonus when you open an account by 1/9/2024. Then, within 20 days of opening your account, deposit at least $10,000 in New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus amount is based on how much you can transfer but the lowest tier starts at $10,000.
Discover Online Savings Account – $150 or $200
Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH623 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.
Bank of America – $200 Bonus Offer
Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $200
Chase Bank will give you $200 when you open a Total Checking account and set up and receive a direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
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About Jim Wang
Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard’s Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.
Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology – Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.
One of his favorite tools (here’s my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you’re on track to retire when you want. It’s free.
He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn’t want a second job, it’s diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.
Recently, he’s invested in a few pieces of art on Masterworks too.
Opinions expressed here are the author’s alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.
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