About SwitchWize
Is SwitchWize free to use?
Yes, completely free. We earn referral fees when you click through to a partner and open an account. You never pay us directly.
How does SwitchWize make money?
We earn a referral fee (cost-per-click or cost-per-acquisition) from financial institutions when users click through to their sites. This fee does not affect our editorial rankings — see our Methodology page for full details.
Is SwitchWize affiliated with any banks?
We have referral relationships with many of the banks and lenders on our site, but we also list products without referral agreements. Our rankings are based on objective criteria, not relationship status.
Rates & Data
How current are the rates?
We update rates daily, typically by 7 AM ET each weekday. Every product card shows the date it was last reviewed. Always verify the current rate directly on the provider's website before applying.
Why does the rate on a provider's site differ from what you show?
Rates change frequently. If there's a discrepancy, the provider's current rate takes precedence. We update daily but cannot guarantee real-time accuracy. This is why we show a "last reviewed" date on every product.
What does the national average savings rate refer to?
We reference the FDIC national deposit rate, published weekly. As of April 2026, the national average savings rate is approximately 0.46% APY — compared to top HYSAs around 4.85%.
Money Map & Calculators
Does the Money Map require an account?
No. The Money Map is completely anonymous. We don't store your inputs unless you create an account and choose to save your results.
Does SwitchWize perform a credit check?
Never. SwitchWize does not pull your credit. Clicking through to a lender's site also does not trigger a hard inquiry — only when you formally apply with the lender does a credit pull occur (and many lenders offer a soft-pull pre-qualification first).
How accurate are the calculator results?
Calculator results are estimates for educational purposes. They use standard financial formulas (e.g., the standard annuity payment formula for mortgages). Always verify with the actual lender before making financial decisions.
Switching & Friction Labels
What does "Low Friction" mean?
"Low Friction" means you can complete the entire switching process online in under 15 minutes, with no paperwork or branch visit required. ACH linking adds 1–2 business days but requires no action from you.
How long does it actually take to switch banks?
For a high-yield savings account: 10–15 minutes to apply, 1–2 business days to link your existing account via ACH. For a mortgage: 30–60 days from application to closing. We label each product with its realistic friction level.
Is my money safe during a transfer?
Yes. FDIC insurance covers your deposits up to $250,000 per depositor per bank regardless of where they are in a transfer. ACH transfers are a well-established, secure system used for trillions of dollars in transactions annually.
Still have questions?
hello@switchwize.com