What is the Level Earnings Account and how does it work?

Level Earnings Account Overview

The Level Earnings Account is provides banking designed exclusively for self-employed workers and small businesses. The funds in your Level Earnings Account are FDIC insured up to $250,000 through Piermont Bank; Member FDIC. There are no minimums or monthly fees.

With your Level Earnings Account, you can:

• Track work income and expenses in one place with a dedicated account and Level Visa Debit Card
• Get paid up to 2 days faster by directing payments from work apps to your Level Earnings Account
• Get Level Advances funded instantly once you are approved and repay automatically
• Unlimited zero fee transfers to other bank accounts

The Level Earnings Account is available to both sole proprietors and registered businesses, such as Limited Liability Companies, or LLCs. 

Opening a Level Earnings Account

In order to have a Level Earnings Account you must first open or log into your Level Account. Once you've logged in, you will see the Level Earnings Account on your Dashboard.

Select Start Setup from the Level Earnings Account icon and you'll be walked through the steps to set up your Level Earnings account:

 

After selecting Open Level Earnings Account, complete the Personal Information Form.

NOTE: Part of this process includes agreeing to the terms and conditions for the Level Earnings Account (Level uses your information to determine eligibility for the Level Earnings Account). After your application is processed, the final step is to complete our phone verification to determine whether you are approved!

 

Head to your home screen to check out your new Level Earnings Account! 

 

Earning Interest

Level Annual Percentage Yield (APY) is effective as of 05/16/2023. Minimum amount to open an account is $0.00. Minimum balance to earn the APY is $0.00. Interest rate is as follows: 0.51% APY. Interest rates may change after the account is opened. Fees may reduce earnings.

 

Managing your PIN

You may set or change your PIN from your Level Account. If you forgot your PIN, call Visa. You may set or change your PIN for your Level Debit Card by logging into your Level Account and navigating to the “Earnings Account” > “Overview” page.

If you have forgotten your PIN and need to reset it, call our Visa debit card support line: [phone].

 

Using your Level Earnings Account with Zelle

You may use the Zelle network by manually adding your Level Debit Card to the Zelle app.

If you do not have a previous account with Zelle (as verified by phone or email match), you may use the Zelle network by manually adding your Level Debit Card to the Zelle app.

Please note that Zelle payments are not currently available from within the Level Account.

 

Withdrawing and Depositing 

To access your physical and virtual card numbers, log into your Level Account and follow these steps:

1. From the Account menu, open your Earnings Account overview
2. Once inside the Earnings Account overview, click Manage Physical Card or Manage Virtual Card

By selecting these menu items, you will be able to view the information associated with both your physical and virtual debit cards.

Your Level Debit Card

The Level Debit Card may be used for cash withdrawal at Visa, Plus, Interlink, and Accel ATMs.

Withdraw cash from your Level Earnings Account by using a physical Level Debit Card. If you do not already have a physical debit card, you may request one at no charge from your Level Account.

The Level Debit Card may be used at ATMs that are part of the Visa, Plus, Interlink, and Accel networks. You may locate an ATM that is part of these networks using the links below (ATM fees may apply).

• Visa, Plus
• Accel

At this time we do not yet support depositing cash to your Level Earnings Account.

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Want more? Email us at [e-mail] or call toll-free at [phone]. You may also self-serve within our Help Center to learn more about our resources within Level Pro, our Level Earnings Account, which is FDIC insured through Piermont Bank; Member FDIC, and how our Level Advance payment and repayment works.

Your funds are FDIC insured up to $250,000 through Piermont Bank; Member FDIC.