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Apple Pay vs Wealthfront

Apple Pay logo

Apple Pay

Software

The easier way to pay and send money

From
Free
Rated
-
Full reviewWebsite
Wealthfront logo

Wealthfront

Software

Automated investing for your money

From
On request
Rated
-
Full reviewWebsite

The short version

  • Only Apple Pay has a free tier, so it costs nothing to try first.
  • Each has a real cost: Apple Pay apple Pay works only in countries and regions that support contactless payments and is not available in all markets; Wealthfront the Automated Investing Account carries a 0.25% annual advisory fee on top of the underlying fund expenses
  • They diverge on capability: Apple Pay covers Digital wallet, Wealthfront covers Automated portfolio management.

Where they differ

Only the attributes on which Apple Pay and Wealthfront actually diverge.

Attributes where Apple Pay and Wealthfront differ
AttributeApple PayWealthfront
Starting priceFreeOn request
Pricing modelfreetransaction
Free tierYesNo
PlatformsIOS, WatchOS, MacOSWeb, IOS, Android
Founded20142011

Identical on both: user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Apple Pay

  • Digital wallet
  • Secure payments
  • Contactless transactions
  • P2P money transfers
  • Credit cards
  • Debit cards
  • WatchOS support
  • MacOS support

Only in Wealthfront

  • Automated portfolio management
  • Tax-loss harvesting
  • Financial planning
  • Index fund investing
  • Investment accounts
  • Web support
  • Android support

Both cover

  • Bank accounts
  • IOS support

What people use each for

The jobs each tool is most often brought in to do.

Apple Pay

  • Contactless in store payment from iPhone and Apple Watchnot Wealthfront
  • Paying in apps and on the web without entering card detailsnot Wealthfront
  • Sending money between Apple users with Apple Cash and Tap to Cashnot Wealthfront

Wealthfront

  • Automated index fund investing with periodic rebalancingnot Apple Pay
  • Tax loss harvesting in a taxable brokerage accountnot Apple Pay
  • Buying fractional shares of individual stocks with no commissionnot Apple Pay

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Apple Pay

  • Apple Pay works only in countries and regions that support contactless payments and is not available in all markets
  • Apple Cash is available only in the 50 United States, the District of Columbia and Puerto Rico
  • Apple Cash Family accounts and Tap to Cash transactions are each capped at 2000 USD within a rolling seven day period
  • Mac support requires a Touch ID equipped model
  • A card works only if the issuing bank supports Apple Pay, and banks may charge their own overseas usage fees

Wealthfront

  • The Automated Investing Account carries a 0.25% annual advisory fee on top of the underlying fund expenses
  • Tax-Loss Harvesting and automated rebalancing apply to the Automated Investing Account, not the self-directed Stock Investing Account
  • It is a US brokerage product and is not offered to investors outside the United States

Pricing, plan by plan

Apple Pay

Free
  • FreeFree
    • Secure payments
    • P2P transfers
    • Transit passes

Wealthfront

On request
  • BasicFree
    • Automated investing
    • Tax-loss harvesting
    • Rebalancing
  • Premium Plus$50/month
    • All Basic features
    • Financial planning
    • Human advisor access

Which should you pick?

Choose Apple Pay if

  • You need digital wallet.
  • You want to start without paying.
  • You work on IOS, WatchOS, MacOS.
  • You also want secure payments.
Apple Pay review

Choose Wealthfront if

  • You need automated portfolio management.
  • You work on Web, IOS, Android.
  • You also want tax-loss harvesting.
Wealthfront review

Questions people ask

Is Apple Pay or Wealthfront better?
Neither clearly leads. Apple Pay starts at Free and Wealthfront at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Apple Pay or Wealthfront?
Apple Pay has a free tier; the other does not. Paid plans start at Free for Apple Pay and On request for Wealthfront.
Does Apple Pay or Wealthfront run on more platforms?
Apple Pay runs on IOS, WatchOS, MacOS. Wealthfront runs on Web, IOS, Android.
Can I use Apple Pay for free?
Yes. Apple Pay has a free tier, so you can try it without paying. Wealthfront starts at On request.
What is Apple Pay best used for?
Apple Pay is most often used for contactless in store payment from iphone and apple watch, paying in apps and on the web without entering card details, sending money between apple users with apple cash and tap to cash. Of those, contactless in store payment from iphone and apple watch and paying in apps and on the web without entering card details are not what Wealthfront is typically brought in for.
What can Apple Pay do that Wealthfront cannot?
Apple Pay covers Digital wallet, Secure payments, Contactless transactions, P2P money transfers. Wealthfront covers Automated portfolio management, Tax-loss harvesting, Financial planning, Index fund investing. Both handle Bank accounts, IOS support.
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