American Eagle Bank VS Popular 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: 3.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon
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Pros:

  • High-interest rates on accounts
  • Account available everywhere
  • Variety of CD terms
  • Online and mobile banking

Cons:

  • Opening accounts requires large deposit
  • The savings account has a monthly fee
  • Only offer CDs and one savings account
  • Linked external account required
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.

Popular Direct Review

The interest rates on Popular Direct accounts are very competitive. They are considerably higher than your typical brick and mortar banks. The rates are competitive with other online-only accounts.

Because Popular Direct is an online-only bank, the accounts are available everywhere. Applying for the account is quick and completed online. Everything you need for your account is accessed online. There are no branch locations.

Popular Direct offers a variety of different CD term lengths. The terms range from a three-month term to five-year terms. The other terms include six months, one year, eighteen months, two, three, and four-year terms. The interest rates increase the longer the term length.

All Popular Direct accounts come with online and mobile banking. With online banking, you can set up account notifications and see statements. You can transfer funds between the linked external account. Mobile and online banking allow you to transfer money between Popular Direct accounts. You can check account balances and deposit checks.

To open a savings account with Popular Direct, you must have $5,000 as your opening deposit. To open a CD with Popular Direct, you must have $10,000 as the opening required deposit. You will still earn interest if your balance drops below these required amounts.

Popular Direct savings account has a monthly fee. The fee is $4 per month if your balance falls below $500. No fee is charged if your balance remains above $500. There is also a fee for closing the account before 180 days after opening it. A $5 monthly fee is charged each month if your account is inactive for 12 months. Following the 12th month, the fee is charged each month the account is inactive.

Popular Direct only offers CDs and one savings account. They do not offer a checking account, money market account, or any business accounts. The CDs range from 30-day CDs to a five-year term.

Popular Direct requires you link your account to an external account. The linked account allows you to make deposits into your Popular Direct account. The external bank account cannot be changed within the first 60 days of opening the account.

Read the full Popular Direct review.

Favorite Rates

E*TRADE Bank
Savings 10/16/2018
APY 1.90%
Rate 1.88%
For APY $100
Monthly Fee $10.00
Checkbook No
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American Express National Bank
Savings 10/16/2018
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For APY $1
Monthly Fee $0.00
Checkbook No
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Capital One 360
MMA 10/16/2018
APY 1.85%
Rate 1.83%
For APY $10,000
Monthly Fee $0.00
Checkbook Yes
360 Money Market: Up to 1.85% APY
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