-
Financial Rates:
5.0
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Customer Service:
3.0
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Website Experience:
5.0
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Bank Fees:
3.0
Pros:
- Competitive rates on all accounts
- Interest rates not tiered
- Accounts entirely online
- Check writing for MMA and checking
Cons:
- Minimum opening deposit high
- Money market and checking have fees
- Limited personal deposit accounts
- No business accounts available
What You Need to Know
Every My eBanc account offers competitive interest rates. The rates are much higher than typical brick and mortar bank rates. The accounts are personal deposit checking and money market account and CDs. My eBanc offers regular CDs, jumbo, and one fixed rate CD.
The account interest rates at My eBanc are not tiered. There is not a required balance to earn the most competitive interest rate. Any amount in the account earns the competitive interest rate. However, the money market and checking account do have a monthly fee if the balance falls under $5,000.
My eBanc accounts are entirely online. Everything for your account is done through the website or mobile app. Make deposits through electronic transfers or by mailing in a check. There is only one branch location in Florida.
The My eBanc money market accounts and checking accounts allow you to write checks and have a debit card. The money market account only allows for six withdrawals each month. The checking account has unlimited check writing options with no charge. Your first 50 checks are free.
The minimum deposit required to open My eBanc accounts is high. The checking, money market, and regular CDs all require $5,000 to open. The jumbo CDs require $100,000. The Flex Time Deposit CD requires $10,000 to open.
The money market and checking account have a monthly fee. The fee for both accounts is $15 monthly. Waive both of those fees if you keep an average daily balance of more than $5,000. You still earn interest on amounts under $5,000, but your earnings will be cut into by the fee.
There are limited accounts offered through My eBanc. Only personal deposit accounts are available. My eBanc offers one checking account and one money market account. There are five different term lengths of CDs. Those same terms are available in jumbo CDs. One fixed rate CD is offered.
My eBanc does not offer any business accounts. Only personal deposit accounts are available. Personal deposit checking and money market accounts and some CDs are offered.
Cool Things
CrèmeBrulee Savings App
The My eBanc mobile app offers discounts and savings at no extra cost. The savings are for places you shop and other deals across the United States. For $5 a month you can upgrade to CrèmeBrulee Premium. This gives you savings and discounts plus 24/7 roadside assistance and $800 in cell phone protection. The premium also provides $2,500 in personal ID theft protection and up to $10,000 in travel insurance. The CrèmeBrulee savings is only offered with the money market and checking account.
Money Management Tools
My eBanc accounts come with the money management tool. This tool allows customers to make budgeting a part of their common banking practices. You can easily see what you're spending money on and what category you are spending the most money.
History
My eBanc is an online division of BAC Florida Bank. BAC Florida Bank started in 1973 in Coral Gables, Florida. The bank headquarters for My eBanc are still located in Coral Gables, Florida.
Today BAC Florida Bank has over $2 billion in deposits and $1.7 billion in deposits. They have accounts in more than ten countries. They serve customers in Latin America and the United States. BAC Florida Bank offers real estate financing, private and corporate banking. My eBanc offers personal deposit accounts.
Awards and Recognition
- A 5-Star rating by BauerFinancial
Giving Back
BAC Florida Bank started the BAC guardian Angel Program. This program allows adults with disabilities to develop leadership skills. They then serve in their communities. This program prepares and delivers food to the homeless as well. The employees of My eBanc who serve in the guardian program help prepare the food each week.
Each year My eBanc supports Toys for Tots. This charity collects for underprivileged children. They also donate to help the Saint John Bosco Clinic. This clinic provides free healthcare to the uninsured.
My eBanc supports events through the year to help charities and nonprofits. Those include the Juvenile Diabetes Research Foundation, Americans for Immigrant Justice, and the American Cancer Society. They donate funds to cover the entire cost of the food pantry for the Corpus Christi Social Service Center.
Frequently Asked Questions
Yes. My eBanc 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.
With ATM or debit cards, checks, or electronic transfers. There is one branch location located in Florida.
Yes. My eBanc accounts offer mobile banking. Through mobile banking, you can deposit checks and see account information. You can save money with the CrèmeBrulee Savings app.
The money market account and checking account have a monthly fee. Waive the fee by having an average daily balance over $5,000 in the accounts. The CDs do not have a monthly fee.
The interest rates are competitive with other online accounts. Only a few personal deposit accounts are available. The account is entirely online with no branch locations. You can deposit checks through the mobile app.
My eBanc encrypts your information. A fraud line is available if you feel you are a victim of identity theft.
Yes. The interest rates for their accounts are competitive. The rates are much higher than brick and mortar bank rates. There is not a required amount to earn the most competitive rate.
No. Only personal deposit accounts are available through My eBanc. Those accounts include a checking and money market account and CDs. There are five CD terms offered.
These accounts are entirely online. The only branch location is in Florida. The interest rates are much higher than your typical bank rates.
Yes. My eBanc offers one checking account. The interest for that account is competitive with other online checking accounts. There is no minimum balance to earn the most competitive rate.
Through email, phone, or online chat. There is one branch location in Florida.
Yes. Each of the accounts comes with free bill pay.
No. Make deposits through electronic transfers or mailing a check.
Payments made through person to person payments take one to two business days.
Yes. Money can be directly deposited into My eBanc accounts.
Bank Contact Information
169 Miracle MileCoral Gables, FL 33134
1 (855) 512 0989
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| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.73% |
| 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 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.80% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: It only takes about 5 minutes to open a fee-free account. |
|
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.
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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.