-
Financial Rates:
1.5
-
Customer Service:
4.5
-
Website Experience:
5.0
-
Bank Fees:
3.0
Pros:
- Low required opening deposit amounts
- Small business and commercial accounts
- Easy Checking to start or rebuild finances
- Simple Cash Back program
Cons:
- Only four transactions allowed per cycle
- High overdraft fees
- Low-interest rates
- Only four different CD options
-
Financial Rates:
3.0
-
Customer Service:
5.0
-
Website Experience:
5.0
-
Bank Fees:
4.0
Pros:
- Low required amounts to open accounts
- Variety of personal deposit accounts
- Business accounts offered
- Pearl MMA earns a good rate
Cons:
- Low interest rates on accounts
- Some accounts have tiered interest rates
- Accounts opened in branches
- Monthly fees for most accounts
BBVA Compass has low opening balances for their accounts. The minimum opening deposit for all checking and saving accounts is $25. The opening required amount for CDs is $500.
Small business and commercial business accounts are available from BBVA Compass. Checking accounts, savings accounts, loans, and credit cards are available. Commercial business opportunities also include ways to increase your working capital.
If you do not qualify for a checking account, BBVA Compass offers the Easy Checking account. This account helps you rebuild your finances. If the account is active with a positive balance after 12 months, you can upgrade to a different checking account. The fee for this account is $13.95 a month. The opening amount required is $25. This account offers a debit card and unlimited check writing. Online or mobile banking and text alerts are available. You have the option to enroll in the Simple Cash Back program.
Simple Cash Back is a program that allows you to earn cash-back rewards. This program is available if you have a debit or credit card with BBVA Compass. Your purchase history determines what offers you receive. You can select the offers that you want. The money is then deposited into your account.
Federal regulations allow for six transactions from a savings account each billing cycle. BBVA Compass savings accounts only allow four. Each extra transaction has a $3 fee.
Most banks have a fee if you spend more than you have in your account. BBVA Compass fees are higher than other banks. For every transaction over $1.01 of insufficient funds, the fee is $38. You can link your checking account to a BBVA Compass savings or money market account. This could help cover the insufficient amount. However, the fee to transfer money from a savings or money market into your checking for insufficient funds is $12 a day.
Only a few of BBVA Compass accounts have good interest rates. The money market account earns a competitive rate, but the rates are promotional. They may change. The other accounts have lower interest rates. The rates are higher than typical banks but lower than online-only bank accounts.
Only four of BBVA Compass CD accounts are available online. The terms are 12 months, 15 months, 18 months, and 36 months. The 12 months CD offers a good interest rate, but it is only a promotional rate. It may change. The other three CD terms are much lower than the 12-month term.
The required amounts to open Northeast Bank accounts are low. The savings account requires $100. The holiday club requires $2, and all CDs only require $500 to open. One checking account requires $25 to open. The other three checking accounts require $100 to open.
Northeast Bank offers a variety of personal deposit accounts. They offer a savings account for youth, regular savings, and a holiday savings account. Two money market accounts are offered. There are four checking accounts, including one for those 50 or older. There are a variety of CD terms, ranging from six-months to five-years.
Along with personal deposit accounts, Northeast Bank offers business accounts. Those include savings, checking, and money market accounts. They offer lines of credit, business, and equipment loans. Cash management options are available. Each account comes with online bill pay and banking, and merchant card processing.
The Pearl money market account is available to open to those who live by a branch location. This money market account earns more competitive interest rates than the other accounts. This account is only for new customers to Northeast Bank. Any amount over $0.01 earns the competitive rates. The minimum opening amount is $5,000. The account fee amount or required balance is not listed on the website.
The interest rates for most Northeast Bank accounts are low. They are not competitive with other online accounts. Northeast Bank checking accounts earn interest. Some accounts have tiered interest rates.
To earn the highest interest on some Northeast Bank accounts requires a large sum. The regular money market account requires $100,000 to earn the most competitive rate. The business MMA requires $75,000. The Northeast Express Gold personal checking account requires $50,000. Any balance earns some interest, just not the most competitive rate. The most competitive rate offered is not competitive with other online accounts.
The accounts listed on the Northeast Bank website are only able to open in a branch location. No online accounts are offered directly through the Northeast Bank website. Online accounts are offered through ableBanking, their online division.
Most accounts offered through Northeast Bank have a monthly fee. The fees range from $1 to $7 a month, depending on the account. To waive the monthly fee requires a set balance be in the account. That amount varies from $100 to $10,000.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.