OnyxPrivate.com app review – Scam or Legit
OnyxPrivate.com 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.
- Cashback value(3)
- Missing cashback(5)
- Withdrawal period(4)
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.
