Zeta vs. Envel

Aditi Shekar
June 9th, 2023 | 4min
Zeta logo and Envel logo
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For Envel users looking for a new home, we wanted to put together a quick guide on how Zeta Joint Accounts and Zeta Personal Accounts compare to an Envel account.

Zeta vs. Envel: What’s similar

Accounts that grow with your needs: Zeta offers both personal and joint accounts, giving you the ability to bank the way you want. When you open any Zeta Account, we'll send you a custom debit card to allow you to spend as you need—with no monthly fees. The cards can also be used for contactless payment via a digital wallet.

Manage expenses seamlessly: Zeta's powerful budgeting layer allows you to manage your expenses easily - including adding the bills and goals you're saving for. Our Bill Reserve is one of our most loved features - giving you the ability to visualize your bills and automatically set money aside for them.

Envelopes to help you organize your money: Zeta creates envelopes for your money so that you know exactly what’s available to spend or what’s reserved for an upcoming bills and what is allocated towards savings goals. We'll even help you project your account balance over time based on paychecks, bills, or ACH that are scheduled in our "Coming Up" section.

Bill Reserve deep dive: Zeta lets you set aside money for your bills, similar to Envel’s Envelope System, with our sub-accounts feature. You can even pay those bills from the app as needed. We'll auto-tag your transactions (e.g. utilities) and help you keep your budget up to date.

If you want to see a full list of Zeta Account features, including check writing and more, check them out here.

Zeta vs. Envel: What’s different

Interest on the entire account balance: With Zeta any money held in the account accrues interest. Earn up to 2.43% (APY) as of June 2023 by becoming a Zeta VIP when you set up a direct deposit of at least $1000 each month.

Zeta's community: Get exclusive access to our community or join our Customer Advisory Board where you can get early access to features, a way to chat with the team and help us shape the Zeta's future.

Automation+ vs. Autopilot: As part of Zeta+ we are launching Automation+, a paid Zeta+ feature to put your finances on autopilot. Use custom automation to set aside funds for your bills or goals. We'll even automate sending money to your external accounts.

Spending trackers: At Zeta, we originally launched our Money Manager product and learned a lot about how folks stay on top of their finances. Our most used feature are our spend trackers which let you set a monthly budget for a specific category and track how you’re doing against that.

Credit card insights: Credit cards can be linked in Bill Reserve, allowing you to see balances and get a full view of your financial picture. This helps you plan for those balances that may change from month to month.

Early direct deposit: Zeta doesn't offer early direct deposit at the moment, but we're working with our partners to make this a reality.

Zeta Concierge: We take our role as your financial partner very seriously, and we’ve built out a team of Concierges to help you with anything that might come up. Need some help with a transfer or want some advice on how to roll over your 401k? Our team of Concierges are eager to help.

Have more questions? Follow the discussion on Reddit or drop us a note at support@askzeta.com.

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1Zeta is a financial technology company, not a bank. Banking services provided by Piermont Bank; Member FDIC. All deposit accounts of the same ownership and/or vesting held at the issuing bank are combined and insured under an FDIC Certificate of $250,000 per depositor. The Zeta Mastercard® Debit Card is issued by Piermont Bank, Member FDIC, pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted.

2Zeta Annual Percentage Yield (APY) is effective as of 05/01/2023, for customers who qualify for VIP status. Minimum amount to open an account is $0.00. Minimum balance to earn the APY is $0.01. Interest rates are as follows: 2.45% APY applies to the entire balance for customers who qualify for VIP status. Interest rates may change after the account is opened. Fees may reduce earnings.