Bank7 offers a variety of personal and business accounts. Checking, savings, and money market accounts are available for personal deposit or businesses. They offer business and personal CDs, credit cards, and lending options. These accounts can only be opened in a branch location.
Bank7 offers online personal deposit accounts. These include checking, savings, money market accounts, and CDs. The term length of CDs offered are 24-month and 36-month CDs. Only one online money market and savings account per person can be opened. Customers can open more than one CD and checking account.
The Bank7 online accounts offer competitive interest rates. Those rates are much higher than the Bank7 rates for in branch accounts. To earn the most competitive rate, you must have a set amount in the account. Those accounts range from $100 to $10,000, depending on the account.
Some Bank7 online and in branch accounts have low opening required amounts. The savings accounts and Bank7 checking account only require $100 to open. The Super7 checking requires $1,000. The 6-month, 12-month, and 18-month CD terms also require $1,000 to open.
All Bank7 in branch checking accounts have a $1 monthly fee. This fee is easy to waive. Electronic statements, a direct deposit, or keeping a set balance waives the fee. The online Bank7 accounts have a monthly fee of $15. Waive the online fees by receiving electronic statements and keeping a set balance. That amount is $100 for high rate online savings and $5,000 for the online MMA.
Some CDs and one checking account have a high opening required amount. The 24-month, 36-month, and 48-month CDs require $10,000 to open and earn interest. The Premier7 checking account also requires $10,000 to open. The online money market account requires $5,000 to open.
Specific interest rates for in-branch accounts are not listed on the Bank7 website. To get account rates, call a bank representative. The interest rates for the savings account are tiered. To earn the best interest on the accounts requires a set account balance.
The online accounts at Bank7 offer the most competitive interest rates. These online accounts are only for new customers to Bank7. You can open these accounts online. Everything for the account is online.
The opportunity checking account is for those who do not qualify for a regular checking account. This account allows you to have checks, a debit card, and bill pay from the account. With this account, you can access mobile banking. There is a $10 monthly fee. Waive the fee with set debit transactions, direct deposits, or keeping a specific amount in the account.
Many different business accounts are available through Wells Fargo. Savings and checking accounts are available. They also offer CDs, loans, and credit cards. Commercial finances options are available. Wells Fargo offers retirement and investment options for businesses, as well as payroll options.
The checking account for teenagers is for children ages 13-17. A parent must open the account with the child. The account offers a debit card and mobile banking. There are no monthly service fees for this account. Parents can set limits on the number of purchases and withdrawals made from the account.
To open a Wells Fargo checking and savings requires a low minimum opening deposit. The accounts only need $25 to open.
The interest rates for Wells Fargo accounts are low. They are not competitive with other online-only accounts: slightly lower than your typical bank rates.
Most Wells Fargo accounts have a monthly fee. There are ways to waive the fees on the accounts. Those ways include signing up for online-only statements or keeping a set amount in the account. Signing up for direct deposits will waive the fee for some accounts.
Wells Fargo does not offer many term lengths for CDs. There are only four different term lengths that require the lowest opening amount of $2,500. The longest of those terms is one year. The longer-term CDs require $5,000 to open. There are three longer-term length CDs available at the higher amount.
Wells Fargo only offers two savings accounts and not a money market account. A money market account generally offers higher interest rates than a savings account. Wells Fargo offers a basic savings account and a Platinum savings account. The Platinum account requires $3,500 be kept in the account to waive the monthly fee. With $25,000 in the account, the Platinum savings account has a much more competitive interest rate.