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American Eagle Bank VS Customers Bank

Which bank is better for you?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 4.0 Star Icon
  • Bank Fees: 4.0 Star Icon
No Rate Information
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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
  • Financial Rates: 2.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 3.0 Star Icon
  • Bank Fees: 4.0 Star Icon
No Rate Information
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Pros:

  • Free ATM transactions and fee refunds
  • Variety of personal deposit accounts
  • Low opening required amounts
  • Bonus checking account offers good rates

Cons:

  • Accounts have low interest rates
  • Cannot open all accounts online
  • Tiered interest rates on accounts
  • Monthly fees for most accounts
American Eagle Bank Review

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.

Read the full American Eagle Bank review.

Customers Bank Review

Customers Bank accounts offer free ATM transactions at PLUS and NYCE ATMs. The Convenience checking account offers ATM fee refunds. To qualify for the refunds, you must have at least $5,000 in Customers Bank accounts.

There are a variety of personal deposit and business accounts available. Those include:

  • Convenience checking
  • Free checking
  • Bonus checking
  • Money market account
  • Reserve savings
  • CDs from 3-60 months
  • Loans and mortgages
  • Business accounts and lending options

The personal deposit accounts with Customers Bank have low opening required amounts. Each of the checking and savings accounts only require $10 to open. The money market requires $50 to open. The CDs require $500 to open.

The Bonus checking account earns competitive interest rates if you meet the qualifications. That requires you to spend $500 a month using your debit card. Those rates are much higher than the standard rates and are competitive with other online checking accounts. To open the Bonus checking account, you must use new money. You cannot use money already in a Customers Bank account.

Most of the accounts with Customers Bank do not offer competitive interest rates. The accounts offer rates similar to traditional bank rates. Customers Bank used to offer accounts with competitive interest rates. Those accounts are no longer available.

Not all accounts at Customers Bank can be opened online. Some accounts require visiting a branch location to open. They have branch locations in eight states. Not all products are available at every location. Contact customer service to see which accounts are available near you.

Money market accounts at Customers Bank have tiered interest rates. To earn the most competitive rates requires $250,001. Even the most competitive rate is not competitive with other online money market accounts.

Some Customers Bank accounts have monthly fees. The Convenience checking account has a monthly fee of $29 if you do not meet the requirements. You must keep a $5,000 balance in Customers Bank accounts to waive the fee. The money market account has a $5 fee if your balance falls below $1,000. The retirement savings account has a $5 fee if your balance falls below $100.

Read the full Customers Bank review.

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