-
Financial Rates:
3.0
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Customer Service:
5.0
-
Website Experience:
4.0
-
Bank Fees:
4.0
Pros:
- CD bonus of higher interest rates
- Senior citizen checking accounts
- Kids Klub savings account
- Government or nonprofit checking account
Cons:
- Debit cards might not work in all states
- High opening amount for CDs
- Business checking has credit/debit limit
- Products not available to everyone
What You Need to Know
American Eagle CDs can earn higher interest rates if you earn the relationship bonus. To receive this bonus, you must have $5,000 in a qualifying checking, savings, or money market account. With this bonus, you earn around 0.15% more interest on the money in your CD.
American Eagle offers a Golden Eagle checking account for senior citizens. To qualify for the senior account, you must be over 55 years of age. This account offers unlimited check writing, no monthly fees, and a higher interest rate than their other checking accounts.
The Eagle Saver Kids Klub only requires $1 to open. Kids must be under 17 and have a parent or guardian co-signer. For every deposit made, kids earn ‘Wooden Nickels.’ Kids use those nickels to get prizes.
The American Eagle Platinum NOW checking account is for government and nonprofits. It only requires $100 to open. There is no monthly fee with at least $500 in the account. This account offers unlimited check writing, an ATM or debit card with no fees, and earns interest.
In the name of security, the American Eagle debit card may not work in all areas. Those areas include New York, New Jersey, Washington D.C., Delaware, Florida, Georgia, Maryland, Ohio, North Carolina, Pennsylvania, South Carolina, Virginia, or Canada. If you travel to these areas, you must call the bank in advance to make sure your debit card will work.
CDs require $1,000 to open and earn interest. The CD terms vary in length from six to sixty months. Special add-on CDs let you make unlimited deposits of at least $1 or more.
The business checking account limits transactions each month. You must not exceed 500 debit and credit transactions per month. There is a fee if you do.
Not all American Eagle accounts are available to everyone. You cannot apply online for an account. You must call a local branch to get information and apply for an account. Some products are only available to current customers and those living in certain areas.
Cool Things
Remote Deposit
Remote Deposit lets businesses deposit checks into their bank account without having to go to the bank. Scan the checks, and then securely send the image for deposit. This makes funds available quicker, requires fewer trips to the bank, and is secure.
MasterCard Alerts
This is a free program that alerts you via email and text of where and how your card is being used. You can sign up to receive alerts for approved transactions, declined transactions, or both.
Ame the Eagle
When you open an Eagle Savers savings account, American Eagle bank gives you the first $1. You also receive a stuffed animal, Ame the Eagle. To open this account, visit your local branch. It is available for anyone 17 years or younger with a parent or guardian co-signer.
Group Tours
American Eagle bank offers tours to schools, clubs, and scouting organizations. Tours can include learning how accounts are opened, entering the safe deposit vault, running transactions on machines, and learning how to approve loans. Call the South Elgin, Illinois branch to schedule a tour.
History
American Eagle bank was founded in 2002. The first branch opened in South Elgin, Illinois. Now there is also a branch in Chicago. This bank offers banking for consumers as well as businesses.
Awards and Recognition
- "Best Bank in the Fox Valley Area" in 2014, 2015, 2016
Frequently Asked Questions
Yes. American Eagle Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.
By using debit cards, checks, ATMs, and by visiting your local branch.
Mobile banking is not addressed on the website. Call the local branch to find out more.
No. There are monthly service charges. Waive the fees by keeping a set amount of money in your bank accounts. The amount varies depending on the account.
American Eagle offers interest rates similar to other banks.
American Eagle bank is FDIC insured.
If you have enough money in specific accounts to earn the 'Relationship Bonus' interest rates, they are more competitive. Otherwise, the rates are similar to other banks.
Yes. Business checking, savings, money market accounts, and CDs are offered. However, not all accounts are available to everyone. For some accounts, you must live in a certain area or be a customer.
American Eagle bank is not an online bank. Visit your local branch for more information or to open an account.
Platinum Now and Golden Eagle checking accounts earn interest. The other checking accounts do not. The Platinum Now business account is only available for government or nonprofit businesses. The Golden Eagle checking account is for people 55 and older. The Platinum Now consumer checking account requires $500 in the account to earn interest.
By phone or by visiting a local branch.
No. Bill pay is not listed on the website as an additional benefit of their accounts.
Yes, in a local branch office you can.
This information is not listed on the website. Call the local branch to find out more.
This information is not listed on the website. Call the local branch to find out more.
Bank Contact Information
American Eagle Bank556 Randall Road
South Elgin, IL 60177
847-742-7400
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| Savings (Rate as of 10/29/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 10/29/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 4.00% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC It only takes about 5 minutes to open a fee-free account. | |
| Savings (Rate as of 10/29/2024) | |
| APY | 4.81% |
|---|---|
| Rate | 4.81% |
| Min to Open | $500 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 10/29/2024) | |
| APY | 4.60% |
|---|---|
| Rate | 4.50% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.