Qapital App Review: Scam or Legitimate Way To Save?

qapital app reviewWherever you go in life, you are tempted to spend money. Whether you are on the way to work and pass by a Starbucks where you have to buy an overpriced coffee, or you are at the grocery store and everywhere you look there is a buy 2, get the third one free sign. Because of this, Qapital started an online banking and savings app that takes these temptations and uses them as motivation.

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What Is Qapital?

Qapital is a free mobile banking app that allows you to save money by doing a few things; rounding up your spending to the nearest dollar, setting a fixed saving that happens on certain days, as well as saving money by doing specific activities (I’ll get into these more further down.)

They are based in New York City, although they started in Stockholm, Sweden, and have been around for a couple of years now. When I say a couple of years, I mean that the concept was developed in 2013, and they launched in 2015, attracting and acquiring customers from all 50 states within the first five months.

Is It Free/How Do I Join?

Yes, Qapital is free to join. To join, all you have to do is have an iPhone or Android phone, and have access to the app store.

At the moment, there is no website access, and it is unclear if the company will launch a website accessible version.

Furthermore, there is no initial investment, nor is there a minimum investment. If you want to put in 1 penny every day for a year, you can do that, and conversely, if you want to put in $20 every day for a year, you can do that too.

Is Qapital Safe?

Absolutely. Qapital is FDIC insured and is maintained by Wells Fargo. However, if you do not bank with Wells Fargo, have no fear. Qapital works with any bank, as long as you have money in your account! (You can’t save money that you don’t have.)

How To Save Money With Qapital

Qapital works by setting goals for you to save money for. Therefore you are always motivated to save your money. To make these goals a reality, there are multiple ways to save.

Round-Up: Qapital will round up purchases with your card to the nearest dollar, $2, $3, and so on and so forth. All you have to do is go into the app and set the amount you want your purchases to be round up.

Spend Less: Their spend less option is one where you set how much money you want to save as a reward for spending less than you usually do at some of your favorite spots. The example they use on their website is that if you spend less than $20 at Starbucks in a week, the difference can go into a savings account on Qapital.

Set and Forget: Qapital automatically saves a specific amount of money on a set date for a goal of yours.

These are just a few of the rules and ways that you can save money. There are also customizable rules and saving features which you can set on your own once you have the app.

Is the Qapital App A Scam?

Qapital is a great app that can do wonders in your life. If you are wanting to start saving money, but don’t know how to, you’re going to want to check out Qapital. However, I should say this; you must be willing to save money. This app is not giving you free money, nor is the money you are saving building any interest like some other sites.

Instead, Qapital is just helping you get into a regimen of saving money. Don’t get me wrong, it is a great app, and in the long run, you will be thrilled that you saved a little money occasionally because you will finally be able to buy the things you have always wanted to buy, just never had the motivation to save up for.

If you’d like to learn more or to join, visit You’ll earn a $5 sign-up bonus once you set up your first goal!

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Do you think the Qapital app is a scam or a useful tool for saving? I’d love to hear your thoughts in the comments below!

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1 thought on “Qapital App Review: Scam or Legitimate Way To Save?”

  1. It’s horrible! Customer support is not there at all. There is no phone number only the email. Meanwhile this is your money you’re talking about. I just would never want anyone to use this app. Many banks offer the same thing and you can communicate with them anytime. You will see a lot of reviews just like this on the app at the App Store. Thank you


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