Savings FAQs

What is B2 and how does it relate to M1?

B2 Bank National Association (B2), Member FDIC, formerly known as The First National Bank of Buhl, is a nationally chartered bank purchased by our CEO in the fall of 2021.  The M1 High-Yield Savings Account will be the first deposit product held by B2, which marks a major step in building a digital private financial institution that’s accessible to all M1 clients.  

Learn more from Brian’s recent blog post here.


Do I have to have M1 Plus to earn this APY? 

You do not need to have M1 Plus to earn 5.00% APY*. All open and active Savings Accounts will earn 5.00% APY*.


How is interest calculated?

We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal amount in your account each day.


What are the transfer limits?

There is no limit to the number of transfers to and from your Savings Account.  

The ACH transfer limits between your external bank account and your M1 High-Yield Savings Account is $50,000 per day.


What if I close my Savings Account before receiving an interest credit?

If you close your Savings Account before interest is credited, you will not receive the accrued interest.

Interest accrual begins on the business day your deposit has been successfully completed and the deposited funds are available for your use, transfer or withdrawal. Interest is compounded and credited to your account monthly. The M1 High-Yield Savings interest rate and annual percentage yield are subject to change. 


What features will the M1 High-Yield Savings Account have?

We’ll be sharing more about this new account soon and signing up for updates is your best bet to get that information as soon as it’s available!


M1 is not a bank. M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc. M1 High-Yield Savings Accounts are furnished by B2 Bank, NA, Member FDIC.

*Obtaining stated APY (annual percentage yield) with the M1 High-Yield Savings Account does not require a minimum account balance. Stated APY is available from date of account opening and is accrued on account balance. APY is solely determined by M1 Spend LLC and its partner banks, and will include account fees that will reduce earnings. Rates are subject to change without notice. M1 High-Yield Savings Account is a separate offering from, and not linked to, the M1 High-Yield Cash Account offered by M1 Finance, LLC. M1 is not a bank.




M1 disclosures here.

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