This release is from February 17, 2022. The rates and terms it describes applied on that date and may have changed since. Current rates and terms are at tellusapp.com.
MOUNTAIN VIEW, Calif., Feb. 17, 2022 — Tellus App, Inc. (“Tellus”), the proptech company behind the Tellus savings app, today launched the Reserve Account, a new account in the Tellus app for eligible savings customers on iOS and Android.
The Reserve Account sits next to the Boost Account in the Tellus app. Customers who set savings aside in it earn a rate higher than the Boost Account’s base rate, up to a funding cap. The rate and the cap are shown in the app before a customer opens the account. There is no lock-up period and no fee, so customers keep access to their money.
What customers get:
- A higher rate on a set amount. Customers who set savings aside in the Reserve Account earn a rate above the Boost Account’s base rate, up to the account’s funding cap.
- Clear terms up front. The rate and the funding cap are shown in the app when the account is opened.
- No lock-up and no fees. Money is not locked in for a set term, and there is no fee to open or use the account.
- Easy to fund. Customers can move money in from a linked bank account or from their Boost Account.
- Works alongside the Boost Account. Customers can keep savings above the cap in the Boost Account. There, they earn a higher rate when they apply a Boost.
How it works:
- New customers are introduced to the Reserve Account after they link a bank account during sign-up. Existing customers can open it from the Reserve Account banner in the app.
- Review the rate and funding cap, then open the account.
- Make a deposit from a linked bank account, or transfer money from the Boost Account.
- Open the Reserve Account at any time to see its balance, rewards and recent transactions.
The Reserve Account is available to eligible Tellus savings customers on the latest version of the app. Boosts cannot be applied to money in the Reserve Account, and its rate cannot be boosted. Tellus may update the Reserve Account rate from time to time, as described in the Terms of Service.
The Tellus app is available on the App Store and Google Play.
About Tellus
Tellus App, Inc. is a proptech company headquartered in Silicon Valley. The Tellus savings app helps people save with cash accounts powered by real estate, and gives independent landlords property management software.
Tellus is not a bank. Tellus is not FDIC-insured. The Boost Account, Reserve Account, and Stacks are not deposit accounts and are not FDIC-insured.
Rewards on Tellus’s non-deposit accounts vary and are determined by each customer’s actions and choices in the app.
See www.TellusApp.com for full terms and conditions.
Media contact: press@tellusapp.com
