Interest rates may change and are subject to eligibility requirements. Earn isn't currently available to Morse users in the UK or EU.
Understand how Earn works
Earn lets you grow your money by saving it in Earn Wallets. Each Earn Wallet has its own balance, name, and interest rate, and earns interest that's paid to you every day. You can create up to five Earn Wallets and move money in and out of them whenever you like.
Your Earn Wallets
To create an Earn Wallet, choose the type of savings you want, then personalize it with a name, icon, and colour. You can add money as you create the Earn Wallet, or add money later. Each Earn Wallet shows its current balance, its interest rate, and the interest you've earned.
Your Earn Wallets are separate from your main Morse Balance. You can deposit into or withdraw from any Earn Wallet whenever you like, with no limits. In order to spend, send, transfer, or invest money, you must first move it back to your main Morse Balance.
Standard savings — 3% APY
A standard Earn Wallet earns 3% APY (annual percentage yield). There's no cap, and there's nothing you need to do to qualify — just keep money in the Earn Wallet and it earns interest. The more you hold, the more you earn.
Example
If you hold 1,000 USD in a 3% Earn Wallet for a year, you'll earn 30 USD in interest (3% of 1,000) by the end of the year.
Colombian 10% APY Wallet
If you're a resident of Colombia, you may be eligible for one Earn Wallet at a higher interest rate. It earns 10% APY on the first 1,000 USD you hold in it. Any balance above 1,000 USD stays in your Earn Wallet but doesn't earn interest.
Example
If you hold 500 USD in your 10% APY Earn Wallet, you earn 10% on the full 500 USD. If you hold 1,010 USD, you earn 10% on 1,000 USD, and the extra 10 USD doesn't earn interest.
Get paid every day
Your interest rate is applied to each Earn Wallet's balance every day, and the interest is paid into that Earn Wallet the following day.
We pay in whole cents. If a day's interest comes to less than a cent, it carries over to the next day and pays out once it reaches a cent — so nothing's lost, but small balances won't pay out every day.
Example
For example, if you keep 50 USD in a 3% APY Earn Wallet, you'll earn about 0.0041 USD on day one and 0.0082 USD after day two. By day three, your interest will total about 0.0123 USD, so you'll see you've earned 0.01 USD, with the remaining 0.0023 USD carrying over to the next day.
Earn is a promotional program. It's covered by the Promotional programs section of our Terms and the disclosures linked there. See General promotions for details.