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
For all successful negotiations, we charge a one-time fee equal to a percentage of the savings we negotiate. When you submit your negotiation request, you may choose to pay a fee equivalent to 30-60% of the first year's savings, whatever you think is fair. This percentage will be charged up front, 48 hours after we have confirmed the successful negotiation, and then you keep the savings from then on out.
If you'd prefer to split the fee up, we are always happy to set up a payment plan. You can set one up by clicking the link in your Negotiation Success email, or you can Contact Us and we'll help you set one up. Just be sure to setup or request a payment plan before the payment due date listed in your Success email.
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