Frequently Asked Questions

Opening a Boston Invest account is fast and 100% digital. Download our mobile app or visit our website, click "Open Account," and complete the application in under 5 minutes. You'll need a valid government-issued ID (passport or driver's license), your Social Security Number (or equivalent), and a smartphone for identity verification. Once verified, your account is activated instantly.

For personal accounts, you need: (1) A valid government-issued photo ID, (2) Your Social Security Number or Tax ID, (3) Current residential address, (4) A funding source such as a debit card or bank account to make your initial deposit. Business accounts require additional documents including your EIN, business formation documents, and beneficial owner information.

Our standard Checking Account has no minimum opening deposit. Our Boston Invest Savings Account requires a minimum opening deposit of $25. Premium and Business accounts have different requirements. There are no monthly maintenance fees on our basic accounts, and no minimum balance requirements once your account is open.

Boston Invest employs multiple layers of security: 256-bit AES encryption for all data in transit and at rest; two-factor authentication (2FA) on all logins; biometric authentication via Face ID and fingerprint recognition; AI-powered fraud detection monitoring every transaction in real-time; ISO 27001 certified information security management; and PCI DSS compliance for all payment card operations. Your deposits are also insured by the FDIC up to $250,000.

If you spot any unauthorized transactions, contact us immediately via live chat, secure message, or email support and report it instantly within the app. We will freeze the affected account, investigate the activity, and if confirmed fraudulent, reverse the charges within 2–5 business days. We recommend enabling real-time push notifications so you are instantly alerted to every transaction.

Absolutely not. Boston Invest will never sell your personal information to third parties. We use your data solely to provide and improve our services. Our privacy practices are fully compliant with GDPR, CCPA, and all applicable banking privacy regulations. You can review our complete Privacy Policy at any time, and you have the right to request a copy of all data we hold about you.

Domestic bank-to-bank transfers within the Boston Invest network are instant. Transfers to other US banks via ACH take 1–2 business days. Same-day ACH transfers are available for a small fee. International wire transfers via SWIFT are processed within 1–4 business days depending on the destination country. Real-time payment rails (RTP) are available for eligible participating banks, enabling instant transfers 24/7/365.

Boston Invest offers competitive international transfer rates. We charge a flat fee of $10 for international wire transfers, with exchange rates that are typically 0.5–1% above the mid-market rate — far lower than traditional banks. For transfers between Boston Invest accounts internationally, there is no transfer fee. You can see the exact fee and exchange rate before confirming any transfer in the app.

Yes. You can send money to anyone using their email address or phone number via our P2P payment feature — they will receive a notification to claim the funds and can transfer to their own bank account. Alternatively, you can send via bank transfer using their routing and account number, or via international wire transfer to virtually any bank worldwide.

Boston Invest personal loan rates start from 5.99% APR for well-qualified borrowers and vary based on your credit score, loan amount, loan term, and overall financial profile. Rates range from 5.99% to 24.99% APR. There are no origination fees and no prepayment penalties. Use our online loan calculator to get an estimated rate before applying — checking your rate has no impact on your credit score.

Once you submit a complete mortgage application with all required documents, you can typically expect a conditional approval decision within 2–3 business days. Our digital document submission platform makes it easy to upload pay stubs, tax returns, and bank statements. Full underwriting and closing typically takes 21–30 days. We also offer pre-qualification in minutes, which is useful when house-hunting.

The Boston Invest app provides a complete banking experience: view real-time balances and transaction history; send and receive money instantly; pay bills and schedule recurring payments; deposit checks by photographing them; manage multiple accounts and cards; apply for loans and credit products; invest in stocks, ETFs, and retirement accounts; chat with live advisors; set budgets and spending goals; freeze/unfreeze cards instantly; and receive biometric-secured login. The app is available on iOS 14+ and Android 8.0+.

Yes. The Boston Invest app supports multiple accounts under one login, including personal accounts, business accounts, joint accounts, savings accounts, and investment portfolios. You can easily switch between accounts, set spending limits, and get a consolidated financial dashboard showing your complete net worth across all Boston Invest products.