5Star Bank offers a variety of personal deposit and business accounts. There are three different personal checking accounts. One that earns interest, one earns cash back, and one rewards you for shopping online. 5Star Bank offers a savings account, money market account, and different CD terms. Business accounts include checking, money market accounts, CDs, and loans.
5Star Bank has low amounts required to open their accounts. Each of the different checking accounts only require $50 to open. The Kasasa savings account does not have a set amount required when opening. Both the money market account and the different CD terms each require $1,000 to open.
There are no fees to use 5Star ATMs. 5Star Bank will refund up to $20 each month in ATM fees for each of their checking accounts. ATM transactions do not count toward the required debit card transactions to earn interest or rewards.
Most all 5Star Bank accounts do not have monthly maintenance fee. Each of the different checking accounts is free, as well as the savings account. The money market account has a $5 fee, which is waived by keeping at least $1,000 in the account. The different term CDs do not have monthly fees.
To earn the most competitive rates for the money market account requires a large sum. To earn the best rate, you must have a balance of $250,000 in the account. Any balance over $1,000 does earn interest, but a lower rate. The rates gradually increase the more money you have in the account.
5Star Bank checking accounts have requirements you must meet to earn competitive rates. Those requirements include enrolling in online banking and receiving eStatements. You must also make at least 12 debit card purchases each month. ATM withdrawals or account transfers do not count toward those purchases. If you do not meet the requirements for the month, you will not earn the competitive interest rate. The 5Star Bank savings account has the same requirements to earn interest.
5Star limits the amount of money that you can use with your debit card. The limit for point of sale purchases is $1,000 per day. The limit for ATM withdrawals for each day is $300.
Once you reach $25,000 in the savings or checking account the interest rates drop. Any amount under that balance will earn the competitive rates. Any amount over that earn a much lower rate.
Presidential Bank offers a wide variety of personal deposit accounts. They offer seven checking accounts, two savings accounts, and a variety of CDs. Each account has requirements to open the account and to earn interest. Find the one that works best for you.
The Presidential Bank Checkless Checking account and the Money Market Plus Checking account offer competitive interest rates. Most of the CDs also offer competitive interest rates. The rates are competitive with other online accounts. They are much higher than other brick and mortar bank rates.
Presidential Bank offers a variety of business accounts. Those accounts include checking, savings, and money market accounts, and CDs. They also offer a variety of lending options for businesses. Those include real estate lending, equipment lending, and working capital lines of credit.
Most Presidential Bank accounts have low opening required amounts. Most checking accounts require either $100 or $500 to open. One savings account only requires $100 to open. All the CD terms require $1,000 to open. Some accounts do have higher required amounts.
The Checkless Checking account has the most competitive rates. You must meet account requirements to earn the most competitive interest rates. Those requirements include having a direct deposit into the account each month. You must also make a set amount of electronic withdrawals per month. Other requirements may apply.
The Presidential Bank Money Market Plus Checking account offers competitive interest rates. To earn the most competitive rate requires a high balance. That account must have $100,000 to open and earn interest. The interest rates are considerably lower if your account balance falls below $100,000.
Not all Presidential Bank accounts can open online. Some accounts require opening in a branch location. Those accounts include checking accounts. Most other Presidential Bank accounts can be opened online.
Checking, savings, and money market accounts with Presidential Bank all have monthly fees. Those fees range from $2 to $5 a month, depending on the account. Waive those fees each month by keeping your account balance above a certain amount. The amount changes based on the accounts.