ableBanking VS Dime Community Bank

Which bank is better for you?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Low opening amount required
  • No monthly maintenance fees
  • Competitive interest rates on accounts
  • No set balance to earn highest rates

Cons:

  • Limited deposit accounts offered
  • Customer service not always available
  • Must link another bank account
  • No checking or business accounts offered
  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon
1.35%APY
Savings/MMA
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Low opening required balances
  • MMA and some CDs offer competitive rates
  • Variety of different types of accounts
  • Business accounts are available

Cons:

  • Cannot open all accounts online
  • Most account rates are not competitive
  • Some accounts have a monthly fee
  • Branch locations only in New York
ableBanking Review

The ableBanking accounts have low opening required amounts. The money market account only requires $250 to open. The different CD terms each require $1,000 to open.

There are no monthly maintenance fees for ableBanking accounts. As with all CDs, you will be charged a fee if you withdraw your money before the account reaches the maturity date. Federal regulations allow six withdrawals from a money market account per month. There is a fee if you withdraw more than six times.

The interest rates for ableBanking accounts are high. They are competitive with other online-only accounts. ableBanking interest rates are much higher than your typical brick and mortar rates.

Any amount you have in ableBanking accounts earns the highest interest rates offered. You do not have to have a set amount in the account to earn the highest rates on your money. There is no balance required to keep in the accounts.

ableBanking has limited personal deposit accounts available. The only accounts offered are a money market account and CDs. There are five different CD terms available. The terms range from a 6-month CD to a four-year CD.

ableBanking accounts are entirely online. There are no branch locations. Customer service has specific hours they are open. There are scheduled down times for the website. The website will be unavailable for maintenance during these times. Those days are listed on the website. The hours are from 1:00 a.m. to 5:00 a.m.

When you open an account with ableBanking, you must link an external bank account. This is how you will fund your ableBanking account. You cannot switch the external account for the first 60 days after opening the account. After that time, you may link a different account to the ableBanking money market account. You can only have one external account linked to your ableBanking account at a time.

ableBanking does not offer checking accounts or business accounts. The only accounts offered are personal deposit money market account and CDs. You must link an external bank account to transfer money into the ableBanking accounts.

Read the full ableBanking review.

Dime Community Bank Review

Most Dime accounts have a low amount required to open an account. All the checking accounts only require $25 to open. The money market account requires $1,000, and CDs require $500. The club savings accounts only require $5 to open.

The money market account offers competitive interest rates. There is no monthly fee for the Dime money market account. This account requires $1,000 to open. You can open the money market account online. Online and mobile banking are available. Some of the CDs offer competitive interest rates, but not all the terms.

Dime offers a variety of different types of accounts. They offer personal and student savings accounts. A money market account and specific Club savings accounts are available. Dime offers four different checking accounts and many different CD terms. This allows you to find the accounts that best fit your financial needs.

Dime offers many business accounts. Savings, checking, and money market accounts are available for businesses. CDs and lines of credit are available. Business account holders have access to different money management options. Online and mobile banking are also available for business accounts.

You cannot open all Dime accounts online. To open a CD, you must visit a branch location. To open a checking account, you can call customer service or visit a local branch. The Dime money market account can be opened online.

Most of the interest rates offered through Dime are not competitive. The interest rates are similar to typical brick and mortar rates. Only the MMA and a few CDs offer interest rates that are competitive with online-only accounts.

Some Dime accounts have a monthly fee. The fees range from $4 to $10 a month. The Dime savings account has a fee. The Prime Dime Interest checking account also has a fee. This checking account earns the highest interest rates of the checking accounts. Waive the account fees by keeping $500 in the savings account and $1,500 in the checking.

To open some Dime accounts, you must visit a branch location. All the branch locations are in New York. If you don’t live close to a branch, you are not able to open those accounts.

Read the full Dime Community Bank review.

Favorite Rates

Citizens Access
Savings 12/18/2018
APY 2.25%
Rate 2.23%
For APY $5,000
Monthly Fee $0.00
Checkbook No
$5,000 minimum balance to obtain APY. Absolutely no fees.
Learn More &
Open Account
Synchrony Bank
Savings 12/14/2018
APY 2.05%
Rate 2.03%
For APY $0
Monthly Fee $0.00
Checkbook No
Great Rates + Safety = Peace of Mind
Learn More &
Open Account
Capital One 360
MMA 12/18/2018
APY 2.00%
Rate 1.98%
For APY $10,000
Monthly Fee $0.00
Checkbook Yes
One of the Nation's Top Savings Rates - No Fees
Learn More &
Open Account
American Express National Bank
Savings 12/18/2018
APY 2.00%
Rate 1.98%
For APY $1
Monthly Fee $0.00
Checkbook No
Accounts offered by American Express National Bank. Member FDIC
Learn More &
Open Account
E*TRADE Bank
Savings 12/18/2018
APY 1.90%
Rate 1.88%
For APY $1
Monthly Fee $10.00
Checkbook No
Make the most of your savings - higher rates & a whole lot more!
Learn More &
Open Account