giantbank.com VS NewDominion Bank

Which bank is better for you?

  • Financial Rates: 4.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
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Pros:

  • No monthly fees for accounts
  • Checking account earns interest
  • Accounts earn competitive interest rates
  • Reimbursement of ATM fees

Cons:

  • Highest rate requires a large sum
  • Limited variety of accounts offered
  • MMA and CDs have high opening amount
  • Person to person payment has a fee
  • Financial Rates: 4.0 Star Icon
  • Customer Service: 4.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
No Rate Information
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Pros:

  • Low opening required amounts
  • Variety of personal deposit accounts
  • Business accounts available
  • Bump Rate CDs

Cons:

  • Cannot open accounts online
  • Most accounts have a monthly fee
  • Accounts have tiered interest rates
  • Full account information not online
giantbank.com Review

giantbank.com accounts are free. The checking and money market accounts do not have a monthly maintenance fee. There is no required amount to keep in either of the accounts. CDs only have a fee if you withdraw the money before the maturity date.

The giantbank.com checking account earns interest. You can have money directly deposited into the checking account. There is not a monthly fee. The required amount to open the checking account is only $100.

The accounts at giantbank.com earn competitive interest rates. The rates are slightly lower than other online-only accounts. However, they are much higher than other brick and mortar bank rates. The interest rates for the accounts are tiered. The more money you have in the account, the higher the interest rates you earn.

giantbank.com has a variety of ATMs in network that customers are not charged a fee for using. If a different financial institution charges a fee, giantbank.com will refund the fee.

To earn the highest interest rates, giantbank.com requires a large account balance. The money market account requires a $100,000 balance to earn the highest rates. MMA balances over $1,000 earn interest, just a slightly lower rate. The checking account requires $10,000 in the account to earn the highest interest rates. The CDs require $2,500 to open and earn interest.

giantbank.com only offers personal deposit accounts. There are no business accounts available. The personal deposit accounts include checking and money market accounts, and CDs. There is only one checking and money market account to choose from. The CDs range in terms from 91-days to 5-years.

The amount required to open a giantbank.com money market account or CDs is high. The money market account requires $1,000 to open. Each of the different CD terms require $2,500 to open. There is no monthly fee for the money market account.

giantbank.com accounts offer person to person payment through PayPal. There is a fee for each transaction. The fee is $0.50 per transaction made. You can upload bank information into Quicken or QuickBooks for a fee.

Read the full giantbank.com review.

NewDominion Bank Review

NewDominion has low opening required amounts for most of their accounts. Checking, savings, and one money market account do not have a required amount to open the account. All the CD terms require $1,000 to open. The Evolve money market account requires $1,000 to open.

There are a variety of personal deposit accounts offered through NewDominion Bank. They offer two checking accounts, one savings, two money market accounts, and a variety of CD terms. NewDominion offers a savings account specifically for youth and investment options. Mortgage, home equity, auto, and personal loans are also offered.

Along with personal accounts, NewDominion offers business accounts. They offer checking accounts, money market accounts, and CDs for businesses. They offer business and equipment loans, lines of credit, and commercial real estate loans. Business accounts include online banking, mobile check deposit, and ACH services.

NewDominion offers Bump Rate CDs. Most CDs lock in rates from the day you open the account to maturity. However, the Bump Rate CDs allow for a one time increase to a higher interest rate during the term of the CD. The Bump Rate CDs are available in a 23-month and 35-month CDs. They each require $1,000 to open.

NewDominion Bank accounts cannot be opened online. To open an account, you must first schedule an appointment. A bank representative will call, or you can visit a branch location to finish opening the account. NewDominion currently does not offer any online accounts.

Most NewDominion accounts have a monthly fee. The fees range from $15 to $25 depending on the account. Waive the monthly fees by keeping a set balance in the account. Those balance range from $2,500 to $10,000. The average amount kept in the account is an average daily balance.

To earn the most competitive rate, the NewDominion MMA requires a large sum. Any amount in the account earns interest, but to receive the highest rate requires $100,000 in the account. The savings account also has tiered rates. To earn the most competitive rate requires $10,000 in the savings account.

NewDominion website does not have a complete list of fees and account information. For complete details, you must visit a branch location or contact customer service. Open an account in the branch.

Read the full NewDominion Bank review.

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