Peak Money Reviews

Update: I decided to give PeakMoney a second look, and they now pay only 0.5% interest. I’m not sure why anyone would use PeakMoney. Back to Goldman for me. I’m a member of Good Good Good and initially downloaded Peak just to support them, as they sponsor the Good Newspaper. After adding my primary bank account, which I’ve used for years, and verifying the two small deposits with Peak, my account was listed as ‘under review’. When I reached out to inquire of the timeframe for said review, they stated they need further verification including a copy of my driver’s license, a selfie, and proof of bank account ownership. This is very inconvenient & represents a very poor customer experience. As for savings, I’ll just keep using Goldman Sachs and Robinhood both of which pay 2x the interest Peak offers. Also, every single savings account I’ve had pays interest monthly. Peak only pays interest quarterly. Also, in the early days of PeakMoney they actually charged a monthly subscription in order to use the service. Imagine a savings account that charges you a monthly subscription fee.

They now offer Peak Premium, which charges a $5 monthly fee for additional “features”. Just imagine how much better off you’d be investing/saving that extra $5 per month.

Deleted.

In PeakMoney Store it advertises as a app for ages 4+. I download PeakMoney , being a teen wanting save up for a new MacBook. When you go in you must link to a bank account, which I am in the process of getting. And it says you must be of ages 18+. I am really disappointed. I was hoping for a good app for all ages, as advertised. But you must have a bank account (and feel comfortable enough to link it) and must be of ages 18+! Would not recommend, deleting right after the review. Please respond, I want to know if it was user error.

(Edit)
Thank you for letting me know, I understand that the age rating doesn’t mean that’s what it is safe for maybe not able to use. Thank you for such a detailed response!☺️

I was fine with PeakMoney , thought it was a good concept. They claim they’re “free” but just after midnight today i look on my account and i have been charged 31$ from peak. I looked in my peaks to see if it went there for an automatic save. But it didn’t make sense because my automatic saves are set to 5$. and i didn’t even have enough in my peak to add up to 31$. so basically i unwillingly paid you guys 31$ for nothing. there is no way to track where the 30$ went. if i knew that would happen, if you clarified that on your app, i wouldn’t have used it. but i guess that’s how u scam people out their money. i should've just used a savings account because this is ridiculous. Now i have to go thru my bank and get a whole new card because i have to report fraud. for a charge i did not authorize thru you guys. nowhere when i signed up did it say i would be charged for using PeakMoney. don’t use this you’re better off saving money the old fashioned way.

This is a beautiful app and I love the concept. Unfortunately, one little flaw will likely make me need to delete it in the near future. You can opt into rounding up purchases for savings, or even adding a dollar to your savings for each purchase you make on your card. Unfortunately, Peak not only waits to deposit this money into your Peak savings until you’ve reached a certain amount, but it takes days to do so. This is a problem, because while I have an extra dollar or two to put into savings today, I may not have $25 extra to put into savings next week. Our finances/money are just not secure/regulated enough for this to work long term.

So first of all, I would like to say that I’ve had PeakMoney for around 6 months. I deleted it because well I didn’t really need it anymore- I made my savings goal. So one of the good things about PeakMoney, for me, is that if I say “put 5 into peak savings from my bank account”- it will. However; it doesn’t do it automatically- it takes like 3 days for it to go from my bank account to peak savings- this way, it makes it easier for me NOT to spend money- because it takes like 3 days one way for a transfer, I can’t do like impulse shopping and you know withdrawing money from peak savings- u know? That way I was actually able to save money and not spend it. On the downside, the same is also true. If you do actually need money withdrawn now to pay for something, it will take 3 or so days to transfer back to your account. So depending on how you look at it, yeah...
I think the people who work behind the scenes with PeakMoney are very good- I had to create a new bank account (for me personally)- and in the peak savings app, I had to switch my old account to my new account as the new “funding source” for peak savings- the people who created PeakMoney were extremely helpful in helping make the switch and overriding things on their side. :) I sent them an email, and about an hour or so later they replied.

PeakMoney helps me keep track of my funds without having to worry about carrying around money and trying to hide it or getting it mixed up with savings accounts. I like how I can categorize what I’m saving for too. I’m a visual person so seeing the little hill grow is reassuring :)

I personally have not had a problem and keep a close eye on my money. Some of the complaints I think come from not fully reading through the apps description. But definitely check with your bank and see if you will be charged for transferring funds if you’re interested. If any unknown charges come up you’ll know why. However I also think PeakMoney developer should make this clear either in the description or upon making a new peak.

My spouse and I are in the process of moving. It always costs more than we’d expect it to. But this time, we have a reserve to tap into! Peak has made saving money effortless. I’ve never been very good at saving for savings’ sale, but Peak asks me to set a goal of something I can look forward to (a vacation, a specific item) and even gives me a visual to track progress for each goal. Often, by the time I’ve saved enough for a particular item, I realize I don’t really want it anymore, so I just have extra funds for cost overruns or vacations (which we will always want!). This alleviates stress for me and my spouse, which is a HUGE unexpected bonus. Having Peak move my money automatically makes savings effortless, and opening PeakMoney then feels like opening a surprise gift. I highly recommend it and want to express my gratitude to its creators!

Before Peak I was never capable of successfully saving money, and now I do it without a second thought! The round-ups are probably the best feature! When I first started using PeakMoney I only used round-ups and after opening PeakMoney months later and realizing I’d saved so much passively it encouraged me to start doing schedules saves as well! I’m now chipping away at a debt that’s been hanging over my head for years AND saving for my first international vacation! PeakMoney is GOLD

My fiancé and I have been saving and searching for a home in this CRAZY market. When our offer was accepted we were told we needed to get our earnest money in within 24 to keep the home of our dreams. I got online and the COO worked with me tirelessly through my anxiety to make our funds available in time! I can’t say enough great things about Peak. We’ve bought our first home, gone and vacation, and are currently saving for our wedding in 2022 by using Peak. It’s made some of our dreams a reality!

First time in my live I’ve been able to consistently and successfully save money. I never leave reviews for apps but I’m so pleasantly surprised and impressed that I feel like I have to. First off, it’s not sketchy at all. It’s secure, it’s efficient. Im really happy that I got PeakMoney. Also the roundups feature is really dope, it helps you save money in the background and every little bit adds up. I’m currently saving money for a new car, a new mattress, and a nest egg, all with PeakMoney :)

PeakMoney is awesome!

PeakMoney really centers around helping you save money. It allows you to set specific savings goals for multiple ventures. For example, I am saving for a new car and for our wedding at the same time but the funds are all going to the same platform and are laid out in a structured manner.

The best part in my opinion: PeakMoney reminds you a couple days before they take the scheduled amount out of your account and allows you to cancel the transaction in the event your acct balance is too low. Which is GREAT! I have not this seen feature with other apps, the cherry on top is that Peak will also cancel the transaction if your balance is too low or if the amount being taken out is more than you have in your acct instead of over drafting you!! I mean get PeakMoney and see for yourself!

Great job Peak! Thank you for helping me reach my savings goals with ease!

Guys I cannot say enough about peak. I have always had a hard time saving and peak changed everything. I’m 18 and having peak for one week made me save more than I have in my whole life. One of my favorite features is that you can make categories for different things (I.e. college, car, etc.) and specifically put money in each category. It’s so easy and fun to use! I would 100% recommended to even me closest friends (which I have lol)

I have no problems with PeakMoney and I’ve been using it for about 2 years now. I absolutely love it because I have bad impulse control with spending money and saving and PeakMoney has been a life saver. I can set withdrawals to go to my savings in PeakMoney and set multiple goals in it and it takes about a day or 2 until I get the money back into my bank account so it keeps me from just withdrawing money for things I don’t need. I will continue to use it and recommend it to friends who would benefit from it.

....to save for “sinking funds”. I use Peak for short term savings goals. I have six 2021 Peaks. The same as my 2020 Peaks; clothing shopping, clothing shopping for kids, car maintenance, quick weekend getaways, birthdays and Christmas gifts. I am already months ahead in my 2021 savings goal for each category, and some funds will carry over from 2020 into 2021. I don’t even miss the money! I have the Peak transfers take place the same day as my payroll deposits. This way I never notice. Peak has definitely made me more conscious of savings outside of my usual ROTH Ira and Stash invest accounts! Also, great budget tool as I’m more prepared for the aforementioned. Thank you PEAK.

PeakMoney is a huge stress reliever. I have trouble saving because I lose track of my goals and find budgeting to be stressful.

PeakMoney was really easy to set-up. Account made, link to my bank, a savings goal scheduled, and a plan for how much I needed to deposit monthly in order to reach my goal - all in about 10 minutes.

I’m also a very visual person, so the graphic of a growing mountain helps make my savings goal tangible. And the playful/colorful aspect (you can customize the colors & light effects of your mountain) relieves some of my stress with money.

There are also articles that give you practical tips on how to save; this is actually really useful because when I open PeakMoney , I’m obviously in the right mindset to think about my finances. I look at my savings progress and then read an article.

TL;DR:

The developers have their target client LOCKED IN.

If you have trouble saving + are a visual person + find budgeting stressful, PeakMoney will probably set you up on the right path quickly.

You can tell that the developers actually want to set their customers up for success and not just put money in their pockets.

It’s definitely worth at least a try. And no I wasn’t paid or requested to write this review. :)

This is such a great app. What it’s really good for is micro savings goals. At first I didn’t know exactly how it could be helpful for my wife and I because we have a joint checking account that we pay everything out of and we didn’t want to siphon off money all the time to these other accounts, and we also don’t have all the same savings goals. Then we decided to set up our own personal checking accounts and give ourself an “allowance” every month in those accounts. Now we both have peak connected to our own accounts and it’s really helping us control our individual discretionary spending. I am saving for a golf trip next year and have realized I better stop buying a cup of coffee every morning and things like that. Really super helpful accountability. Five stars.

PeakMoney will help you save money. It’s a simple, but refreshingly well-made app that brings compelling visuals to your savings goals.

I downloaded Peak on a whim, but I’m so happy I did. I check Peak everyday, even just to glance at my mountains for a moment.

You can customize each peak for a savings goal in mind; and then you decide whether you want to save automatically (weekly, monthly, etc.) or deposit funds at your own pace. You can have meticulous control over how you save - or you can let Peak do the savings for you. The best part is you can customize how much and how often you want saved for each peak.

I’ve already decided I’ll use Peak to help save each year for Christmas.

Y’all PeakMoney is great in every way. It greets you with an inspiring message every time you open it. Peak also has a breathing exercise, so you can save and find your center all at the same time.

The people behind PeakMoney are amazing and they really care about their users. They were in the fitness world and have made Peak their passion project. In other words, they care about you and are serious about helping you save.

I’ve looked for money saving apps in the past, and have tried many.

Peak is leaps and bounds ahead of them all.

I have had Peak for at least a year. The way PeakMoney is set up to have separate money goals or just organizing and associating your money with a specific agenda is amazing. I have had three main categories. 1. House 2. New Car 3. Travel Yesterday came the day that I went car shopping. I didn’t think I would find a car my first day looking. I sent an email to Peak explaining my situation. They helped me out by letting me withdraw a large portion of my savings so I could purchase my car in a timely manner. I love Peak so much. It has become my new savings account instead of my actual bank savings account. I recommend everyone to try Peak even if you feel financially stable it’s a great tool to manage and see where your money is going.

Thank you Peak for wonderful service.

Can’t say enough positive things about Peak. What I maybe like most is the intentionality it places around saving. “Saving” is a pretty loaded buzzword. People tell you that you should be saving your money, etc, but, to me, it’s always felt like a fairly vague term. Saving for what exactly?? When you’re saving just to say you’re saving, that’s when it gets easy to justify the 4 dollar coffee or the 7 dollar beer. Because you’re not saving for anything tangible or specific, so it doesn’t feel real. With Peak, it’s the exact opposite. You set specific savings goals for yourself (a vacation, an item you’ve always wanted, an engagement ring, whatever) and you can very clearly track your progress in reaching those goals. Not to mention, it’s probably the most beautifully designed money saving app on the market. Period. All in all, very happy with Peak and would highly recommend.

Peak is a beautifully designed app and built by a great team that I’ve had the pleasure of talking to. I’m excited for all the ways Peak can continue to grow and add more features that work for me. I use Peak to save up for my “small fun expenses” like new shoes, lodging for a trip or a ceramics class. Being able to categorize my savings with specific goals (and not having to create multiple savings accounts with a bank for each of these small fun expenses) allows me to manage my money smarter, and now that Peak offers rewards I can get some returns, too! Overall, definitely worth the investment on the monthly subscription and an effective way to save up.

PeakMoney does nothing unique from any of the top apps out there. It allows you to automate savings and gives you words of encouragement. Thanks but no thanks. Clarity give you an opportunity to not only to automate your savings but gives you an opportunity to save your money with Marcus Goldman Sachs who is offering the highest percentage yield in the market. Clarity does so much more than PeakMoney. PeakMoney is useless, if your coming to the table with someone, do your homework and study and make sure your delivering something different from everyone else.

I haven’t really gotten to use PeakMoney yet as I’m waiting for the bank verification, but as a UXer I wanted to say the accessibility of the Terms and Privacy Policy pages needs to be fixed. They’re almost impossible to read due to the extremely low contrast. I could barely read it, and my eyesight is fine.

Other than that I’ve enjoyed the experience so far. Getting the account set up was easy and PeakMoney is very pretty.

But it would be very convenient if there was an option to make a peak of a certain amount for only one thing and then withdrawal for that purpose only.

Peak makes setting and reaching goals so easy. I’ve never had much luck saving money. I see it, I spend it... and I am the daughter of a banker. PeakMoney is a game changer. In less than 3 months I have put away nearly $600... and that was with setting low goals. I love the motivation and the challenge. I am addicted to saving!!

Peak is the secret to being “ahead of the game.” I’ve been disappointed with budgeting apps with plenty of bells and whistles to track spending, but no basic tools to help me save. Peak not only helps me keep money out of sight and out of mind, it helps me plan ahead and actually reach my goals. Plus it feels good to use. Seriously, I get a hit of endorphins every time I save. And my dad thinks I’m responsible now 🥳

Free, easy to use, and beautiful layout. PeakMoney has made saving effortless and simple even for those who have the hardest time saving (like me). The interest accrued, option to round-up purchases, and in app options like a holiday savings bonus give PeakMoney the edge that sets them apart from others. I highly recommend to everyone who needs to save money... which is everyone!

I have never bothered to leave an app review before, but I have never used anything more helpful than Peak. As someone trying to lessen stress surrounding money, as I am trying to implement saving skills that my family never taught me, Peak has become my best friend. When I can’t always put the effort into thinking about saving, Peak has my back. I know what I’m saving for, and I can see my goals growing. Financial planning is much less overwhelming with PeakMoney’s help.

I barely started using Peak but love how PeakMoney is layed-out and is simple to use! Love the functionality of adding a funding source to save up your money into the peaks and don’t have the urge to touch it until you reach your goal! I like the meditation tips and finance tips! Great way to save money for your long time goals! Will gladly be using Peak for my money saving goals and will be using for a long period of time! I Will love to see the updates and how PeakMoney progresses! Honestly, don’t mind the 3-day business day wait for money to be transferred and withdrawed because it is a safer way to make sure your money is encrypted and stored! It is totally FREE and efficient! Test PeakMoney for yourself! :)

The Peak app is very easy to use and navigate. Ive used it since the first week of its release and have had no issues. Getting through PeakMoney is simple and smooth. No odd quirks or issues. I am able to save money , Connect my bank account and utilize PeakMoney with confidence.