Bangor Savings Bank offers a variety of personal deposit accounts. They offer three checking accounts and savings and money market accounts. Those accounts include a savings account for kids and one for the holidays. Bangor offers CDs that range from three-month terms to five-year terms.
Bangor Savings Bank offers a wide variety of business accounts. Those accounts include business checking and savings accounts. They offer business credit cards and insurance options. Bangor offers cash management and payroll services for businesses.
The Bangor Savings Bank CDs offer competitive rates. The interest rates for these CDs are competitive with other online CDs. The terms range from three months to five years. The amount required to open each CD is $500.
Most Bangor Savings Bank accounts have low required amounts to open. Each of the checking accounts requires $25 to open. Two savings accounts also only need $25 to open. The CDs each need $500 to open.
The Benefit Money Market and Market Rate account have high opening required amounts. These accounts each need $5,000 to open and to earn interest. Balances below $5,000 do not earn interest. There is a $10 monthly fee if the Market Rate account drops below $5,000. The Benefit Money Market does not have a monthly fee.
Some Bangor Savings Bank accounts have tiered interest rates. To earn the most competitive rate for the MMA requires an account balance of $100,000. The savings account requires $25,000. Amounts under that balance earn interest, just not the most competitive rate.
Bangor Savings Bank accounts are not available to anyone across the United States. Only residents of Maine, Massachusetts, New Hampshire, and Vermont can open an account. You can open some accounts online if you are a resident of one of these states. A few accounts require visiting a branch location.
Some accounts require having a Bangor checking account first. To open the Benefit Savings and MMA requires having a Bangor checking account. Once you have a checking account, you qualify to open these other accounts.
We have two reviews for Citizens Bank, one for the local bank, and one for their online accounts referred to as Citizens Access. Click here to learn more about Citizens Access.
Checking, savings, and money market accounts do not have a set amount to open the accounts. However, to earn the best interest rates, you have to be a platinum member. That means having $25,000 in Citizen Bank accounts. The basic checking and savings account does not require you to be a platinum member.
Citizens Bank offers a variety of accounts for businesses. Business checking, savings, and money market accounts are available. Credit cards, loans, and investment opportunities are available.
A GoalTrack Savings Bonus is available with most Citizen Bank savings accounts. If you meet your savings goal, you will earn a bonus. The bonuses include merchant discounts or gift cards. The more money you set up to save and the longer you keep that goal, the more you will earn. You can earn up to $250 for saving $400 a month for 36 months. Some of the participating merchants include Walmart, Target, Applebee's, Best Buy, and Marriott.
Checking and money market accounts include $5 Overdraft Pass. This means if you overdraw your account for $5 or less you will not be charged a fee. To avoid other overdraft fees, deposit money into your account as soon as possible. This is no limit to how many overdrafts qualify for the pass. Any and all overdrafts under $5 are covered.
Accounts are not available everywhere. Citizens Bank currently operates in 11 states. If you do not live in one of these states, you cannot open an account. Those states are Connecticut, Delaware, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Vermont.
Citizen Bank accounts have fees. To waive the platinum checking fees, you must have at least $25,000 in Citizen Bank accounts. To get the best interest rates, you have to have a platinum checking account. Waive the fees for platinum savings accounts by having a platinum checking account.
The smallest required amount to open a Citizens Bank CD is $1,000. Some CDs require $10,000 to open. The IRA CD only requires $250 to open, but that is a CD set up for retirement purposes.
To earn the best interest rates on CDs, you must also open a premier checking account with Citizens Bank. The interest rates are more than a full percent less if you do not have a checking account too.