Gateway First offers competitive interest rates on most accounts. The interest rates are much higher than typical bank rates. The online savings account and 12-month CD offers the most competitive interest rates.

The opening required amounts for Gateway First accounts are low. The online savings account requires $10 to open. The CDs need $1,000 to open. The checking accounts require either $50 or $1,000 to open. The money market account does require $2,500 to open.

Gateway First offers a good variety of accounts. These include:

• Three personal checking accounts
• Online savings account
• CD terms from six-months to five-years
• One, two, and three-year IRA CDs
• Home and consumer loans
• Business checking account
• Commercial and specialty lending options

Customers can send and receive money through Zelle. Gateway First Bank offers Zelle as a feature for each of their checking accounts. You can initiate Zelle payments through the mobile app or online.

Gateway First accounts have tiered rates. The CDs require $500 to open, but to earn interest requires a $25,000 balance. Each CD earns competitive rates if you have $25,000. You cannot add money to the CD after the opening amount. The money market account requires $100,000 to earn the most competitive rate. The checking account requires $50,000.

Not all Gateway First accounts can be opened online. The only accounts available online are the high yield savings account and CDs. The CD terms range from six-months to five-years.

Gateway First accounts are not currently available in all 50 states. If you live in the following states, you cannot open an account:

• Alaska
• California
• Georgia
• Hawaii
• Illinois
• Maine
• Massachusetts
• Montana
• New Hampshire
• New York
• Rhode Island
• Vermont

Some Gateway First Bank accounts have monthly fees. The fees for the checking accounts are between $7-8. There is a fee of $0.15 per debit item if you do not keep a set account balance. To waive the account fees, you must keep an account balance between $250 and $2,500.

Read the full Gateway First Bank review.

The required amounts to open Comenity Direct accounts are low. The Comenity Direct savings account requires $100 to open. Each of the CDs offered through Comenity Direct require $1,500 to open.

The interest rates for Comenity Direct accounts are competitive. Their rates are much higher than typical bank rates. They are competitive with other online accounts. To earn interest on CDs, you must keep $1,500 in the CD. The high-yield savings account only requires $1.00 to earn interest.

Comenity Direct accounts do not have monthly maintenance fees. There are not set account balances required to avoid the monthly fees. Their accounts are free. The CDs have a fee if you withdraw the money before the maturity date, but no monthly fee.

All Comenity Direct accounts can be opened online. You do not need to visit a branch location or mail in part of the application. The entire account opening process is online. You must be at least 18 years old and have a social security number. You must be a resident of the United States with an address. You cannot open an account with a P.O. Box.

Comenity Direct offers limited accounts. They offer a high-yield savings account and CDs. The CD terms range from one to five-years. There are no CD terms shorter than one year. Comenity Direct does not offer checking or money market accounts.

Comenity Direct accounts require a linked external account. You can link an account with your current bank. Once you link the two accounts, you can transfer money electronically. You can also have money directly deposited into your Comenity Direct account.

The Comenity Direct high-yield savings account does not offer checks or debit cards. Federal law allows for six withdrawals each billing statement from a savings account. Make withdrawals through electronic transfers into the linked external bank account.

Comenity Direct offers CD terms from one to five-years. The early withdrawal fees for these CDs are high compared to other online CDs. For terms from 12-months to three-years, the fee is 180 days of interest. For terms four-years or longer, the fee is 365 days of interest.

Read the full Comenity Direct review.