Frequently Asked Questions

Sagewell is a financial technology company and is not a bank. Banking services provided by Choice Financial Group; Member FDIC. The Sagewell  Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

You need to be 18+ to open a checking account. While we specialize in helping people who are at retirement age, we recognize that planning for retirement can begin at any age.

Sagewell is Better Business Bureau certified. Our bank partner is Choice Financial Group, Member FDIC.

• If you bank with us, you’ll be assigned a Retirement Success Advocate who will be your personal point of contact. You’ll receive their contact information and their personal calendar link for scheduling appointments during your initial onboarding.
• If you haven’t sign up with us yet and have additional questions, you can call 617-397-3764 or email help@sagewellfinancial.com

The Sagewell Retirement Protection Plan costs $20/month and delivers a host of benefits, including 1-on-1 support with a Retirement Advocate, bill negotiation services, and more. You can read our up-to-date benefits on our membership page. 

• Industry leading APY
• FDIC insured
• Free ATM reimbursements nationwide
• Cashback on fuel purchases
• Overdraft protection:
  • Our system automatically rejects any transaction that may overdraft the account. We do not permit you to overdraw your Account. If the Available Balance in your Account is not sufficient to cover any transaction you have authorized, we may return the transaction or refuse to process the transaction. However, there may be instances where your Account can still go into the negative, such as if a deposit you make is returned. You must make a deposit immediately to cover any negative balance. If your Account has a negative balance for sixty (60) calendar days or more, we may close your Account. In a few rare cases our system does not prevent an overdraft, we won’t charge you a fee!
• No inactivity fees
• And more!

• Our FDIC-insured bank partner has expert security measures and custom-built protections. 
• We send email and SMS notifications for suspicious transactions.
• We proactively monitor for fraud, specifically older adult fraud.

It’s easy and only takes one phone call!

Here’s how it works:

Log into your Sagewell account, and pull up the home screen within your Dashboard.

There, on the right-hand sidebar under “Quick Actions” you’ll find an option for Account & Routing Numbers, click there.

You’ll need those Account and Routing numbers when you call the Social Security Administration to make the switch.

Once you have the numbers ready, just call the Social Security Administration at 1-800-772-1213, and they will use your Sagewell routing and account numbers to complete the process!