Envelope

Envelope, previously recognized as Envelope Money, operates out of San Francisco, CA, and is a participant in the fintech industry, specifically within the consumer finance sub-industry. The company, which emerged from the Y-Combinator S23 batch, employs a team of two and serves regions across the United States and Canada. Envelope offers a comprehensive banking platform designed to enhance personal budgeting. This platform includes features such as customizable notifications, flexible budgeting options, and both physical and virtual cards for accessing accounts. Additionally, it facilitates scheduled transfers into budgeting envelopes and provides robust security measures like the ability to request new virtual card numbers and lock accounts. The platform supports joint accounts, aiding users in managing shared financial goals and expenses, and allows users to set specific financial targets with deadlines. A notable feature is the Protected Savings account, which offers a 4.55% annual percentage yield (APY) as of February 15, 2024. All banking services are provided through Pacific West Bank, with whom funds are FDIC insured up to $250,000. The Envelope Money Visa Debit Card, essential for account transactions, is issued by Pacific West Bank under a license from Visa U.S.A. Inc.