American Eagle Bank VS EBSB Direct

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
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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: 5.0 Star Icon
  • Customer Service: 4.0 Star Icon
  • Website Experience: 4.0 Star Icon
  • Bank Fees: 5.0 Star Icon
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Pros:

  • High interest rates on accounts
  • No monthly maintenance fees
  • Accounts are entirely online
  • Debit card offered for MMA

Cons:

  • Limited deposit accounts offered
  • Highest rates require a large amount
  • MMA requires a large opening amount
  • Must link to another account
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.

EBSB Direct Review

The EBSB Direct accounts offer competitive interest rates. The rates are competitive with other online-only accounts. They are much higher than your typical brick and mortar bank rates.

There are no monthly fees listed for the money market account. The only fee that applies to the CD is if you withdraw the money before the CD reaches the maturity date.

EBSB Direct accounts are entirely online accounts. You can apply for the accounts online. Everything for your account is online. The EBSB Direct accounts are not available through the EBSB branch locations. You can make transactions to your EBSB Direct accounts at a local branch.

The money market account with EBSB Direct offers a debit card for you to access your money. Federal regulations only allow six withdrawals per month from this money market account. There is a fee if you withdraw more than six times.

EBSB Direct only offers a money market account and one 14-month CD. There are no other personal deposit accounts offered. There are no specific business accounts offered.

To earn the highest interest rate offered on the MMA, you must have at least $10,000 in the account. The lower balances still earn interest, but a much lower rate.

To open the money market account offered through EBSB Direct, you must have $2,500. The 14-month CD requires $1,000 to open. Once you open the account, you are not required to keep a set amount in the account.

EBSB Direct only offers a money market account and CDs. To make electronic transfers, the accounts must connect to another account. Link your EBSB Direct account to any other financial institution in the United States. You can also link more than one account to your EBSB Direct account.

Read the full EBSB Direct review.

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