-
Financial Rates:
3.0
-
Customer Service:
5.0
-
Website Experience:
5.0
-
Bank Fees:
3.0
Pros:
- Most accounts have low opening balance
- myDime Student account
- ATM fees refunded with DimePrime
- Business accounts are available
Cons:
- Opening accounts done at a branch
- Accounts not offered everywhere
- Low-interest rates
- Most accounts have monthly fees
-
Financial Rates:
4.0
-
Customer Service:
3.0
-
Website Experience:
5.0
-
Bank Fees:
5.0
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
Most of the Dime accounts only need $25 to open the account. Those accounts include checking, savings, and money market accounts. The cost to open a CD is $500. The money market account requires $500 to establish the account. The minimum amount per check is $500 for money market accounts.
The myDime Student account is a basic checking account for students. There is no minimum balance to open the account. This account refunds fees charged from using other banks ATMs. myDime account offers an "oops rebate." Students are refunded the fee of one overdraft per calendar year. Online, mobile banking and bill pay are available. When students open this account, they receive three free deals from DimePerks.
DimePrime offers free withdrawals from any ATM. If you use a non-Dime ATM, they will refund the ATM fees. They refund up to $10 each month in ATM fees. To qualify for DimePrime, you must have $15,000 in Dime checking and savings accounts. Another option to qualify is to have a consumer or residential Dime loan balance of $150,000.
Dime offers a variety of business accounts. Checking, savings, and money market accounts are available for your business. CDs, commercial mortgages, loans, and credit lines are also available.
Even when you meet the required account balance to earn interest on your accounts the interest rates are low. Only a few of the CD term interest rates are competitive. All other interest rates are considerably lower than other online-only banks. They are competitive with typical banks.
To open an account with Dime, you have to visit a local branch. Their branches are in southeast Connecticut and west Rhode Island.
Since you have to visit a branch to open an account, accounts are not available everywhere. To be an account holder, you must live in southeast Connecticut or western Rhode Island.
Most all Dime accounts have a monthly service fee. The fees vary in range from $2 to $20 per month. The fees vary from accounts. To have the fee waived there are requirements you must meet. You must also have a certain amount in the accounts to earn interest.
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.
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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.