Fitness Bank 2.1% APY When You Have An Average Of 12,500+ Steps A Day

What about a more fun version….eat one cheeseburger a day……

Interesting, I don’t know how many people opt-out of the leaderboard (which appears to be a manual process). But of those that don’t, they only pay 11 people the top interest rate.

I’m half-tempted to rig up a rube goldberg machine to increase the steps on my fitbit, but I’m not sure it’s worth the effort.

Lame gimmick

I’m going for it.

and for a mobile phone pedometer swing.

As an Assistant Manager at Walmart I average almost 20k/daily i might, my average steps per week accounting for days off is roughly 15k, i think i might actually be able to move to a bank like this lol.

I live in NYC and walk a lot so this would be great for me. I’m hoping to see some DP around the HP/SP. By the way, when you click to open the account it says you can fund it via debit or credit.

Looking at the leaderboards not many people have joined up yet. There are a couple of life insurance companies I have seen that have reduced rates for runners, that business model makes sense, not sure how savings and walking/running are tied together. Any idea if there is an early termination or account closure fee?

So I’m gonna ask the question everyone is thinking…how do you “automate” your steps?

How about 12,500 AmznGC reloads per century?

If there is no max this is amazing.

I’ll just stick with m 4% Orion and Origin and only need to do a few Amazon reloads per month and deposit cash.

Not worth the battery drain and wear and tear on phone.

Non-US citizen have to open in branch

Super easy. No need to resort to technology to meet the requirement. If they increase the rate a bit more, I can just strap the stepmeter to my kid, who will not stay put no mater what I do. He can do half of those steps while kicking on his sleep.

I read their Privacy Policy and it makes no specific mention of what the bank does or does not do with the fitness tracker data. I used to work for an insurance company and know how much we’d pay or spend developing Apps to get that kind of activity level personal data on our policyholders. I am curious what they do with this data. Also I’ve never used a step counter but 12,500 steps is something like 6 miles unless you have a very long stride. That seems like an average daily step count only avid runners would meet.

No max amount limit on the APY?

I’m sure people will come up with “creative ways” to help them get 12500+ steps a day registered on a tracker;)

I agree with William Charles in that this account is only worth considering if you already average 12,500+ steps a day, otherwise you’d be better off with a regular 2.5% account, or one of those 4% Rewards accounts. It might be too risky otherwise. And by risky I mean: What if you get sick for a few days? Or injured? What if there’s a technical glitch with your tracker, or it breaks? What if you wanna travel far for a time? What if you live in winter weather areas where there might be total shutdowns due to storms? You’d always be worried every month if you can make the steps requirement.

And keep in mind the 1/2% gain in interest over 2.5% isn’t all that much per month, relatively speaking, of course.

RE: Gaming the System: I saw a video of someone who told CBS Miami he put his Fitbit inside a sock in his dryer. Ran it for an hour and a half (no heat setting), got 11,000 steps. Other people have attached their Fitbits to electric mixers and ceiling fans. I have no idea if this would be successful specifically with Fitness Bank, but even if it was, is it even worth doing all that daily for most savers?

CC max $2,500 (although it says 250,000 – which got me moving on this in the first place). This is a young platform and they clearly haven’t gone through all their design cleanup and setup yet. The details of fees threaten an early termination fee but never state what the fee or timeline may be. There does not appear to be a maximum of funds to receive the 3.00% APY, although without one they will likely reduce the rate soon enough, unless it’s difficult to obtain 12,500 steps for their average user, which is likely is.

No hard pull reported yet.

A perfect fit for Post Office letter carriers!

Can I put my apple watch on my dog to achieve the goal?

$2,500 with a credit card sounds tasty. Just wonder if it’ll code in a profitable manner.

For everyone thinking of “gaming” the step counter: wouldn’t it be easier to do 10 debit card transactions per month than to simulate thousands of steps everyday? Seems like a hell of a hassle to put on yourself when buying 10 GC on amazon takes < 5 minutes manually (and only needs to be done once per month).

Obviously could be a good deal for those who legitimately walk this much daily.

Any idea if this will code as a cash advance or purchase for CC funding?

Just opened / funded with Visa CC. Limited to $2k (well below CC limit).

Looks like the initial, pre-calculation APY has been raised up to 3.00%.

Where was this when I worked at Target years ago and could easily walk eight miles during a shift?

Wear your Fitbit on your dominant bank and change the sensitivity. This should do the trick!

“Application Pending”. I funded $2000 with Chase Ink. It’s showing up as a pending charge, credit limit set to $100. I would’ve tried a higher amount, but I’m nearing my credit limit.

Amex doesn’t work for funding. It did let me input my account # and displayed the Amex symbol. But I received an error message each time I tried to submit. I tried $4000, $2500, $2000, $1000, and $999.

What’s the cheapest fitness device that can connect to iphone I can use?

When this deal was posted on July 7th FitnessBank was not listed on Mint.com. I rely on Mint.com to consolidate my bank account transactions into 1 downloadable
Excel file and avoid banks that aren’t connected to Mint. I submitted a request to Fitnessbank’s VP Deposit Operations to partner with Mint. As of 7/29, Fitnessbank is now listed on Mint.com as “Fitness Bank” (two words).

Does anyone know a Google Fit compatible fitness tracker I can strap to my cycling cleats so my pedal strokes are counted as steps (which technically they are)? I’m an avid cyclist but on days I do an 80- kilometer ride, I average less than 1,000 steps. Otherwise I only achieve 12,500 steps organically a few times a month.

I just tried to apply and CC funding has been lowered to a $100 maximum. I snooze, I lose 🙁

The initial interest rate for the first month is now the full 3%.

Max interest rate reduced to 2.75% from 3.00% – bummer

New reason to get a dog: need something to walk my Fitbit

What is the max we can deposit here? I do not see any information on the site about it.

12500 steps are a lot… I work in New York and walk a lot for my commute and only average 8000 steps during work days

12,500 steps a day is a pretty extreme standard. I average about 10,000 steps a day to and from work (just under 2 miles each way) and that already probably puts me in only 1-2% of Americans.

I’d rather Orion or Origin and get 4% without any steps.

Looks like the CC funding is now limited to $100. Though it also says that the minimum is $100, so probably something funky going on.

Many thanks for listing this Bank! I love it! Never heard of it and I have been searching for top savings rates (with no maximum) since Purepoint dropped to 2.15%. This Bank never showed up.They are paying 2.75 for the first month.
I have always been active, but did not purchase a Fitbit until a few weeks ago, so perfect timing. The apps are colorful and motivating. I have every expectation of earning prizes on the leaderboard.
Nothing very exciting, but it’s the thought that counts.
They give out medals, gear and “step bank credit,” so I can rest on my laurels and not work out.

CC funding limited to $100. I’ll post on hard/soft pull once I find out.

Regulation D withdrawal limits would apply since this is a savings account, right?

I had to laugh about the dog idea… But with all seriousness this is a gimmick. Sounds good for the 3% interest, but very hard to maintain anything close to it. I am an active person but this deal is a pass for me.

Cc funding def only $100. Chase hyatt. Posted as purchase I think (personal) my cash advance limit is minimum of $100.

It’s a soft inquiry as I got no alerts from my credit monitoring services and these alert me right away.

Top tier interest rate lowered to 2.6%

The rate has been decreased to 2.6% APY from 2.75% APY.

Put the tracker on my dog and let him run around

Update 11/25/19: Rate will increase to 2.3% APY on December 1st.
Update 11/7/19: Rate has been decreased to 2.6% APY

I think you meant decreased ? from 2.6 to 2.3?