Qapital Review 2019: Save Money Automatically with this Savings App

piggy bank

Qapital lets you set automated savings rules so you can save up for anything without even noticing the money leave your bank account. You can also track your spending, set budget goals, and even shop using the Qapital card. 


  • Inexpensive to use (no fees)
  • Goal based savings
  • Automated savings
  • Minimum investment $10


  • Mobile only app, no web app
  • Monthly membership cost
  • You won’t earn interest on your savings


“The quickest way to double your money is to fold it in half and put it in your back pocket.” -Will Rogers

If you’re like me, you may find it challenging to save up money for the things you want to own or experience in life. To be honest with you, up until about two years ago I was in a very frustrating cycle of debt. As a freelancer I would get a job, spend all the money I had made, the job would end or change, and I would rack up a ton of credit card debt until I found my next gig. How could I possibly put money into savings when I couldn’t even afford rent?

A Bankrate survey in June 2017 showed that only 24% of adults have money saved up for an emergency.

Qapital has helped me save some of the money I’m making, so that I can afford things beyond my daily expenses, and I always have a fund available for times when I’m making less money. It feels so good to look at my Qapital account and see that I have enough money saved up to create the lifestyle I want. Although I don’t earn interest on the money I put into the Qapital app, I’ve saved up more than $800 within my first year of using the app.

I’ve been saving money with Qapital for about a year, and I’ve been very happy with the experience so I want to share it with you. I’m really passionate about investing and money management, and helping others to improve their financial situation. By saving up a few dollars here and there each week, you won’t even notice the money leaving your bank account, and before you know it you’ll be able to go on that dream vacation, buy that new sofa, or whatever else you’ve been wanting to purchase. If you lose your job or unexpected expenses come up, you’ll have an emergency fund available to get you through the tough times.

Qapital allows you to set automated savings rules and goals. For example, you can put $5 each week towards saving up for a new bicycle, or you can round up every purchase you make to the nearest dollar and save those pennies towards retirement.

Disclaimer: I actually use the Qapital App and I like it so much that I am now an affiliate. If you sign up for Qapital through one of the links I may be compensated a small referral fee at absolutely no cost to you.

What is Qapital


There are many savings apps out there, but Qapital has been one of the most successful and trusted. I tried out a few different apps and I definitely like Qapital the best.

You may have heard of apps such as Acorns which round up your day to day purchases and put those cents into savings. Essentially these apps are your virtual piggy bank.

How does this work?


For example, if you spend $2.80, $0.20 will go into your savings. While $0.20 may not seem like a lot, you’d be surprised how quickly those pennies can add up. Qapital has taken this concept and expanded upon it. They allow you to set various savings rules, and they even have a debit card you can use to spend the money you’ve been saving up.


How to Save Money With Qapital – Savings Rules


Through the Qapital app, you have many options for how you can set aside money for your savings goals. Some of the rules you can choose from include:

  •  Automated Savings: You can automatically save a certain amount of money each week or month.
  • 52 Week Rule: Save $1 the first week, $2 the second week, and so on for 52 weeks.
  • Spend Less Rule: If you have a tendency, like me, to splurge and spend $8 every time you go into Starbucks, you can reward your savings account every time you spend less than that. If you spend less than $8 at Starbucks, Qapital will set aside the difference into your savings account.
  • $2 Round Up: Although Qapital does allow you to round up to the nearest dollar, you can also choose to save a little bit more by rounding up all of your purchases to the nearest $2. If you spend $4.50, you’ll set aside $1.50 into your savings instead of $0.50. This can add up very quickly, and you’re unlikely to miss that extra dollar.
  • Guilty Pleasures: If you tend to spend your money on spa visits or dining out, you can tell Qapital to set aside a certain dollar amount each time you indulge in your guilty pleasure.
  • Freelance Rule: Each time you get paid, Qapital can take a portion of that income and move it into your savings goals.
  • Rewards: You can tell Qapital to put money into your savings each time you reach one of your goals, such as going to the gym. You can even sync Qapital with other apps, such as FitBit, so your savings are all automated each time you check off something from your To Do list!

As you can see, there are so many savings options on the Qapital app so you can personalize it to your life and goals. They are always working on new rules as well. The app makes savings fun and easy, and connects your financial goals with your day to day life. I try out a lot of apps, and this was one that I didn’t immediately give up on, since it’s so easy to set up and fun to use.

Goal Based Savings


One of the things I like the most about Qapital is that you can save money towards particular goals. I love logging in and seeing that I have enough money saved up to go get a massage, or that I have $500 saved towards my next vacation. Normally I would just spend all my money on day to day things and I wouldn’t have any left for those special occasions or long term goals. You can set up as many goals as you want, and you can set different savings rules for each goal.

If saving up for a new car is more important to you right now than saving up for a bicycle, you can set the rules to put more money into that goal so you reach it faster.

You can make your goals as broad or specific as you like. I have very broad goals because I never know exactly what I plan to spend the money on or how much it will cost. Some of the goals I’m saving up for include:

  • Gifts : By the time the holidays roll around each year I usually don’t have a lot of money in my bank account, so saving up throughout the year ensures that I can afford all the gifts I need to buy.
  • Vacation Activities, event tickets and Lessons: When I travel I love to go surfing, horseback riding, kayaking, or take a class. Sometimes I also want to do things in my own city like go to a concert or festival.
  • Travel: Always saving for my next plane ticket!
  • Home Appliances and furniture: I’ve been a digital nomad for the past two years, but when I move into my next apartment I’m going to want a few things like a new blender and coffee pot, as well as a couch and other furniture.
  • Beauty Services: I have a fund in my Qapital account for things like manicures, facials, and massages.
  • Emergency Fund: It’s really important to have some cash set aside in case you lose your job, you get injured and can’t work for awhile, or you need money for something else unexpected.
  • A Surfboard: Always wanted one and I’ve been taking surf lessons over the past few years!

No matter what you want to save up for, practical or frivolous, you can customize Qapital for your goals.


The Details


So, now that you know how the Qapital app works, let’s get into some of the finer details.

The app does have a monthly membership cost (see options below,) and you can hook it up to your existing bank account. You must be 18 years or older to sign up with Qapital. They also give you the option of opening a Qapital savings account (I haven’t done this yet.) Note that if you use a local bank the app may not be able to connect with your account, but if you bank with a larger institution it should work fine.

The money you save using Qapital is held in a partner bank in an FDIC insured checking or savings account. Qapital does not hold the money themselves, nor do they invest it for you.

If you choose to open a checking and savings account with Qapital, they will send you a chip-enabled Visa debit card for free. You can set up your savings rules to put money into your Qapital account, then when you want to spend the money you can just use the card they sent you. Since I don’t have the Qapital savings account, when I want to spend the money I’ve saved I first have to transfer it back into my regular bank account, which takes a couple days.

Here are some of the things the Qapital account includes:

  •  Free Direct Deposits
  • No Opening Deposit Required
  • No Negative Balance Fees
  • Fraud Monitoring
  • FDIC Insured
  • No Overdraft Fees

Qapital’s pricing

Until last year, the Qapital app was completely free to use. However, now you must choose from three membership levels, each with a monthly fee. I just use the basic level, but you may want to sign up for one of the higher levels if you’re wanting to do more with the app. 


The basic membership tier is best for people who just want to use the automated savings functionality of Qapital. You can set up as many goals and rules as you want to with this level. 

Price: $3 per month


The complete level gives you access to additional spending, saving, budgeting, and investing tools. If you want to use Qapital to keep track of all your finances and plan for your future, you may want to pay for this level. 

Price: $6 per month


The master membership level gives you access to everything from the first two tiers, as well as in app challenges, educational webinars, and other tools to further advance your finances. 

Price: $12 per month

Get Started Using Qapital


The Qapital app is very easy to use. Here are the steps you’ll take to get started and start saving!

1. First, download the app from your app store and create an account using Facebook or your email address.

2. Link your checking account. This may take up to three days to verify. Qapital will only transfer money from your account when you have at least $100 in it, so you don’t have to worry about overdrafting.

3. Connect any other accounts you want to use with Qapital, such as PayPal and your credit card. You can set up rules to save each time you spend with these accounts.

4. Set up Goals. Create as many goals as you want to save for. Qapital lets you choose to “Go Somewhere,” “Do Something,” “Pay Off Debts,” “Get Something,” “Just Start Saving,” or “Something Else.” You can be as broad or specific as you want to be. For instance, I just have a broad ‘Travel’ goal, but maybe you want to create a goal to ‘Travel to Hawaii.’ If you already know how much you want to save for that Hawaii trip, set that as your goal amount.

5. Choose your rules. For each goal that you create, you can choose which savings rules you want to use to move money into that goal. You can add as many rules as you like to each goal.

6. Watch your piggy bank overflow! That’s it, you’re now saving. Since the Qapital app feels like a game, you’ll get addicted to saving more and more money each month, and pretty soon you’ll be reaching your goals. 


All in all, the Qapital app is great for those just starting out saving money, or for people who want to automatically save up for specific purchases. 


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