OnyxPrivate.com

Onyx Private is a digital banking and investment app that offers premium features and services to affluent professionals, specifically high-earning Millennials and Gen Zers. It was founded in 2023 and is headquartered in Miami, Florida.

OnyxPrivate.com app review – Scam or Legit

OnyxPrivate.com review
Onyx Private review

Name: OnyxPrivate.com

Description: Onyx Private is a good option for affluent professionals who are looking for a modern and convenient banking and investment experience with premium features and services. However, it is important to weigh the pros and cons carefully before signing up for an account.

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  • Missing cashback
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  • Withdrawal period
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Summary

Onyx Private partners with Piermont Bank to provide FDIC-insured checking accounts, a debit card, and cash back on payments and purchases. It also offers investment services, such as high-yield cash sweep accounts, US Treasury bills, and robo-advisory portfolios.

Pros

  • Premium banking features: Onyx Private offers FDIC-insured checking accounts, a debit card, and cash back on payments and purchases. It also offers high-yield cash sweep accounts, US Treasury bills, and robo-advisory portfolios.

  • White-glove concierge service: Onyx Private members have access to a 24/7 concierge service that can help with tasks such as making reservations, booking travel, and finding the best deals on goods and services.

  • Exclusive benefits: Premium members of Onyx Private enjoy additional benefits such as 1% cash back on all purchases, a higher-yielding checking account, and exclusive access to partner deals and discounts.

Cons

  • Fees: The premium membership plan costs $50 per month or $40 per month if paid in one sum. This may be too expensive for some people, especially those who are just starting out in their careers.
  • Limited investment options: Onyx Private’s investment options are currently limited to high-yield cash sweep accounts, US Treasury bills, and robo-advisory portfolios. If you are looking for more sophisticated investment options, you may need to look elsewhere.
  • New company: Onyx Private is a relatively new company, so there is some uncertainty about its long-term viability. It is possible that the company could go out of business or change its services in the future.
Comments Rating 4.67 (3 reviews)
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