Dollar Savings Direct does not require you to keep a specific amount in their accounts. There are no monthly fees for their savings account. As with all CDs, you will be charged a fee if you withdraw your money before the maturity date.

The interest rates for Dollar Savings Direct accounts are competitive. The interest rates are much higher than your typical brick and mortar banks. They are competitive with other online-only accounts. Any balance in the savings account and CDs earn the highest interest rates. There is not a specific amount required to earn those rates.

Everything for your Dollar Savings Account is online. You open your account online. To transfer money, you must link account to an external checking account. Transfer the money electronically between the two accounts. You can access everything for your account online.

Dollar Savings Direct has five different CD terms. Each of the different terms has competitive interest rates. All the CDs at Dollar Savings Direct required $1,000 to open. The terms range from six months to a five-year term. The longer the term, the higher the interest rates. Fees only apply if you withdraw the money before the maturity date.

Dollar Savings Direct only offers a savings account and CDs. No checking accounts or money market account are available. There are five different CD term lengths offered. Those terms are 6-months, one-year, 16-month, two-year, and five-year.

Dollar Savings Direct requires you link account to an external checking account. You can transfer money between the saving account and the linked external account. You can link another external checking account to the savings account after 60 days. The names on all accounts must match.

There are no business accounts offered through Dollar Savings Direct. The only accounts offered are personal deposit accounts. One saving account and five different CD term lengths are available.

Any deposit made into a Dollar Savings Direct savings account must be in the account for five days. You cannot withdraw the money until after the five days. Once the money is in the account five days, you can transfer the money.

Read the full DollarSavingsDirect review.

Accounts for kids and teens are offered from Union Bank. The Kidz savings account is for children ages 8-12. From ages 13-17, teen savings and checking accounts are available. These youth accounts must be jointly owned with an adult. Youth accounts do not have a monthly fee. The opening deposit amount for the savings accounts is $1. The checking account requires $100. Each deposit of at least $5 into the Kidz savings account earns a stamp. After ten stamps the child earns a gift card.

Union Bank savings, checking, and CDs have a low opening deposit. All checking accounts, except the Priority account, only need $100 to open. The basic savings account requires $50. The youth savings accounts only require $1. Union Bank CDs require $350 to open the CD. Only the seven days to one-month CDs require a higher balance.

Union Bank offers a variety of small and commercial business accounts. Checking, savings, and money market accounts are available for small and commercial business. Loans, CDs, and credit cards are available as well. Union Bank offers payable and receivable services for large businesses.

Both Union Bank money market accounts offered tiered interest rates. This means the more money you have invested in the account, the higher the interest you will earn. The regular MMA requires $2,500 to open; the High Rate MMA requires $10,000.

Union Bank accounts do not offer competitive interest rates. Their rates are similar to your brick and mortar bank rates. They are not competitive with other online-only bank accounts.

Most all Union Bank accounts have a monthly maintenance fee. The fees range from $4 to $30 a month depending on the account. Signing up for online statements will lower the monthly fee by $1 for some accounts, but not waive it. Ways to waive the fees include having a required amount in the account or direct deposits. The youth accounts do not have a monthly fee.

There are two money market accounts offered by Union Bank. The basic MMA requires $2,500 to open the account. The High Rate money market account required $10,000 to open. Both accounts have a monthly maintenance fee. Union Bank requires you to link one of their checking accounts to the money market accounts. The interest rates for Union Bank MMA are not competitive.

The Priority bank account is the only checking account that earns interest. The minimum opening deposit for the interest earning account is $1,000. There is a $30 monthly fee. The fee is only waived if you have over $50,000 in combined Union Bank accounts or have a mortgage through Union Bank.

Read the full Union Bank review.