[$5 Bonus] Qapital Review: Is This Microinvesting App Worth It?

[$5 Bonus] Qapital Review: Is This Microinvesting App Worth It?

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Everyone agrees having a savings account and an emergency fund is a good thing. However, it’s hard to be motivated sometimes! Qapital changes that boredom by making saving fun, personal, and automated so that you actually save money. Qapital isn’t for everyone though, so check out our review of Qapital below before you make a decision on which micro investing or saving app to use.

Get A $5 SignUp Bonus With Qapital

What Is Qapital?

Qapital is a microsaving app that helps you save more money faster. It was founded in 2012 by George Friedman and Erik Akterin, with offices based in New York and Stockholm. Unlike the other FinTech apps, Qapital doesn’t have a San Fransisco office. At the time of this post, Qapital has received $47M in venture capital funding.

Qapital tries to use behavioral psychology to make you save more money — the current savings rate in America is close to 6 percent, which is low. It currently has over 500,000 users.

Qapital Venture Capitalist Funding

Here’s a quick video Qapital made to explain their app:

How Does Qapital Work?

Qapital is app-based, so you’ll need to download the app via the Google Play store or Apple store. It doesn’t have a minimum you need to deposit. App users must be 18 years or older.

Qapital Start Account

To get a $5 sign up bonus, use this link. If you’re currently on your desktop computer, Qapital will ask for your phone number to send you a link to download the app. Make sure you put in your number so you can get the $5 sign up bonus. If you’re on your phone, the signup bonus link will take you directly to the app store download.

Qapital Start Saving

After you connect your checking account, Qapital will deposit two small amounts into your account. You’ll need to tell Qapital what they are in order to verify that account belongs to you.

Your first goal will be one of the above:

  • Do Something
  • Go Somewhere
  • Get Something
  • Pay off Debt
  • Start SavingQapital Create Your Goal

Qapital works by socking away money into your savings accounts based on rules. Here are a few examples:

  • Invest $1 more each day for a month to save $496 in a month
  • If you invest$2 more each week, saving $2,756 by the end of the year
  • Invest $5 more each week, saving $6,890 by the end of the year

There are a ton of different saving rules you can choose from on the app, which is pretty handy. However, if you want, you can set up any rule you’d like, based on how much you’d like to save. Qapital works with IFTTT (If This, Then That) to make these rules.  You can set rules based on your credit cards or PayPay.

Qapital IFTTT Rules

The great thing about Qapital is that you can save money with a partner. If you’re looking to take a trip or save up for some furniture with your roommate or partner, you can both contribute to the same account. Once you save up enough money, you can transfer it back to your own accounts to buy your plane tickets or that new piece of furniture.

Set Up Your Qapital Rules

You can create separate savings accounts for different things you’re saving for. Example: You can set up a Yosemite fund for when you want to visit Yosemite, a fund for the downpayment on a car, or a fund for a home renovation, all on the same account.

Qapital Savings Accounts Yosemite

You should also consider creating a Qapital account for yearly expenses and put the monthly equivalent in them every month. A lot of people scramble each year when their full property taxes or auto insurance bill is due — if you put in money each month, you won’t have to worry about it!

What Are Some Qapital Rules?

Qapital IFTTT rules

Qapital rules are created through IFTTT.

Set & Forget

Set & Forget is very similar to what most other microsavings or investing apps do. You just set an amount each time period you’d like Qapital to transfer over. It’s very easy, but if you’re transferring it once a month, you might not feel like you’re making much progress. Consider setting it to every week or even every day!


Round-Up is something Acorns does as well. Qapital will round-up every purchase you make and put that spare change into your savings account. For example, if you spend $2.64 on Starbucks, Qapital will put 36 cents into your savings account from your bank account.


Everyone would like to be healthy, right? Why not make your money and health work together in tandem? Qapital allows you to set rules that transfer over money into your bank account whenever you hit a certain number of steps. Making money walking has never been easier! The American Heart Association recommends 10,000 steps a day, so consider paying yourself whenever you reach that amount! Maybe you can put your savings from steps for some awesome new gym clothes or a relaxing vacation.

Spend Less

We’re obsessed with financial independence retire early here, so the spend less rule is pretty awesome. Once you learn how to budget, set up a maximum amount you want to spend per month. The excess will get transferred to a savings account. Each month, you can lower your budget a little more. Try earmarking the savings for a reward so you’re incentivized to spend less in exchange for a big item or experience.

TV Show Binging

One of the most interesting rules Qapital has is that you can transfer moving into your savings account every time you watch a certain TV show. That way, you get your guilty pleasure, and you save more!

IFTTT Qapital Rules

Qapital is the only app that works with IFTTT. If you haven’t heard of If This Then That before, it’s a site that creates a small automation when certain things happen.

Here are a few examples of IFTTT rules you could make happen:

  • Every time you run a mile, you get $5 towards your goal of traveling to Santorini
  • Whenever you wake up before hitting a snooze button, you’ll get $2 towards a downpayment on a car

In my examples, you’re getting a reward in your savings account for good behavior.

Of course, if you’re the type of person who does better by being punished by not having money today, you could do some IFTTT rules like this:

  • $5 every time you spend money on fast food
  • $3 whenever you take an Uber instead of walking or taking the Subway

If you’re really trying to create better behavior, you could even set up the punishment IFTTT reactions as savings accounts that you will donate to charities.

How Much Does Qapital Cost? Check Out The Pricing Tiers:

Prior to November 2018, Qapital was free, which was what made it so enticing as an app. Before November, they made their money debit card transaction fees that are charged to the retailer.

However, it now has 3 pricing tiers. We don’t see value in the last two tiers, and only see value in the first tier for some people. The good news is that if you were already a Qapital user, you get access to the highest tier for free. Guess that shows that you always want to get in early on FinTech apps so that if they raise their prices, you get grandfathered in!

If you’re not ready to pay for Qapital, get a free 30-day trial through this link.

Qapital Basic Plan

Qapital Basic ($3/month): App users will be able to create savings rules and use the Qapital debit card for automatic savings transfers. Get access to Payday Divvy: Instead of creating several separate savings accounts, you can just divvy up the money you get paid in one go.

Qapital Complete Plan

Qapital Complete ($6/month): Qapital says users will be able to track their behaviors with Qapital and get insight into it. This allows you access to Spending Sweet Spot, which means the app will use its algorithm to tell you what it thinks the max you can save is.

Qapital Master Plan

Qapital Master ($12/month): This tier includes the two other tiers, but also has a curated section of financial content and challenges. Here you’ll get access to Money Missions, created by behavioral psychologists to help you save more. We don’t think this is worth an extra $6/month because you can simply subscribe to a blog or money news site.

How To Access Your Qapital Money

With most FinTech apps, you’ll need to link a bank account in order to transfer and access your money. With Qapital, you can get cash out of the ATM with the Qapital debit card, but you might be charged ATM fees. I’d recommend just transferring your money to your bank account and then taking it out from there. Withdrawing to your bank account is free.

Qapital Invest

Instead of just letting your savings sit in a savings account, Qapital started Qapital invest, so you can grow your money through investing in stocks and bonds.

In early 2018 Qapital rolled out Qapital Invest to join the ranks of other FinTech apps. In order to comply with KYC (Know Your Client) regulations, Acorns will ask you questions about your long term investing strategy, when you’ll need the money, and what kind of risk appetite you have.

Like other FinTech apps, Qapital invests in low-cost ETFs.

Qapital Spending Account

The Qapital Spending Account is what Qapital calls its checking accounts. You can transfer your money from your savings to the Qapital Spending Account and spend money via the Qapital debit card. However, we don’t recommend this as we firmly believe when you spend anything you should be getting credit card rewards for no extra money and stacking cashback.

You can also pay bills by requesting that Qapital send a business a check.

The Qapital Spending Account does pay interest, but it isn’t much. Your money should sit in a high-yield savings account.

Qapital Debit Card

Round-ups will take 2-3 business days if they are transferred from your personal banking account. This is due to your funds having to go through the government FedWire system, which takes at least 2 days. If you want your money to immediately go into your savings, you can get the Qapital Debit card.

There are no overdraft, monthly, or other fees with the Debit card.

We don’t see this as much of a bonus because waiting 2-3 business days is a big deal for us.

Qapital Security

Qapital partners with Plaid, which runs the backend of every major FinTech app that deals with banks. Plaid uses 256-bit encryption and SSL to make sure your account stays secure. Qapital doesn’t know any of your information.

Qapital uses Plaid to run its security

Qapital accounts are FDIC insured, which means that the government insures your account. For a single account owner,  your money is insured up to $250,000. Joint account holders are insured up to $500,000.

Qapital also says they do not sell your information or data to anyone.

Qapital Complaints

Some users have complained of overdraft fees, so Qapital instituted a new rule — Qapital only withdraws from your account if you have a minimum of $100 in there to avoid getting overdraft fees.

Qapital $5 Bonus Referral Program

Qapital offers a $5 bonus to anyone you refer. There aren’t any limits to how many friends you can refer.

Qapital App

Qapital has an app in Google Play rating 4.4 and the Apple store rating 4.8.

How Do You Contact Qapital?

You can talk to a Qapital representative through its live chat feature and email at [email protected]

Qapital Pros And Cons

Qapital Pros

The Qapital app is the only FinTech app that uses IFTTT to create cool savings rules. You can automate your personal finances to save more.

The UI on Qapital has one of the nicest UIs we’ve seen. You can create multiple savings accounts with personalized names and photos to motivate you to save more.

Qapital also has a referral bonus. You and your referral will both get $5 in your account.

Lastly, Qapital offers users the ability to invest their money in the market or spend money with the Qapital debit card.

Qapital Cons

Qapital used to be free, but as of November 2018, it has 3 tiers of pricing. However, users who joined before the price increase would be upgraded to the highest plan for free.

The interest on the Qapital savings account is much lower than high-yield savings accounts. If saving for you is easy, you shouldn’t use Qapital.

Qapital doesn’t have phone customer service but does have chat and email.

Get A $5 SignUp Bonus With Qapital

Author: Olivia

Olivia worked in finance and wants you to learn the secrets of financial independence. She believes there are so many ways to monetize your life and make money doing the things you're already doing because so many companies offer free money.

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