Rocket Money is a free app with optional paid services and a Smart Savings feature. Here's a list of things that could show up as a charge or transfer on your bank or credit card statement.
1. Smart Savings deposit or maintenance fee
If you are seeing a weekly or bi-weekly transaction (usually a round amount like $10/weekly or monthly) going to Rocket Money this is likely not a charge. This is a transfer to your Smart Savings account. This is your account at an FDIC insured bank and you have access to withdraw these funds at any time.
To withdraw your smart smart savings balance open the app:
Tap on Savings 🐖 under your checking accounts
Tap on the savings goal you want to withdraw from
Select options in the upper right hand corner
Then tap the Withdraw button.
Please note that you can only withdraw transfers once they have settled, which can take up to 3-5 business days.
If you are not a Premium member and have a charge for $2 per month that is a small maintenance fee to keep Smart Savings open.
You can close the account by:
Tapping on Savings on your Dashboard
Tapping the account you would like to close
Select Edit Goal and then Close this account
2. Premium membership
If you are seeing a monthly transaction of $3, $4, $5, or $6, this is likely for a monthly Premium membership.
If you see a one time transaction of $36 or $48, this is likely for our annual Premium membership.
You can cancel your subscription at any time from the app via the instructions in this article.
3. Bill negotiation fee
We compensate our users by charging them their choice of 30-60% of the first year savings(half of the cost of competitors who charge 40% of the first TWO years savings). While the savings come in over time, we collect the success fee as a single up front charge.
However, for larger fees, we also offer them to be split into multiple payments to make it easier on our customers. You can set up your own payment plan from the confirmation email you receive when your negotiation is completed. Feel free to contact us and we'll make it happen!
4. Non user / fraud
If you see a charge and you nor anyone in your household has used our app, it is possible someone has used your account.
Please contact us with the following information and we'll investigate:
Your full name
The last 4 digits of the account that was charged
The bank name
Date of the charge