Goldwater Bank VS Mutual of Omaha

Which bank is better for you?

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

Pros:

  • Low required amount to earn interest
  • Business accounts offered
  • Personal and business loan options
  • Competitive interest rates on accounts

Cons:

  • CDs have high opening deposits
  • Cannot open account entirely online
  • High opening deposits on accounts
  • Accounts have tiered interest rates
  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
No Rate Information
Advertiser Disclosure
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Low opening requires amounts
  • Variety of accounts offered
  • Online accounts available in all states
  • Rates not tiered for online accounts

Cons:

  • Accounts have a monthly fee
  • Some accounts only offered in few states
  • Not all accounts offer competitive rates
  • Competitive rates require a large sum
Goldwater Bank Review

Goldwater Bank has high amounts to open their accounts. Once you open an account, the amount required to keep in the account to earn interest is low. Goldwater Bank only requires $0.01 to be in the account to earn interest.

Business accounts are available through Goldwater Bank. There is a checking account for small and large businesses. There is a money market and savings account. CDs are available. Goldwater Bank offers cash management services for business accounts. This offers online banking, remote deposit, and card services. Business credit cards are available.

Goldwater Bank not only offers personal deposit accounts but lending options. They offer loans for building, remodeling, or home loans. Personal loans for vacations, cars, boats, or college tuition are available. They offer loans for business needs as well.

The interest rates for Goldwater Bank accounts are competitive. Their rates are much higher than the rates offered at brick and mortar banks. To earn the most competitive rates does require a large account balance. However, the lower balance rates are still much higher than other bank rates. They are competitive with online accounts. The business accounts also earn competitive interest rates.

The different CD accounts all require a high opening balance of $5,000. The CD terms range from 90-day terms to a 5-year term. The only fees associated with CDs is from withdrawing the money before the CD meets the maturity date.

Goldwater Bank accounts cannot be entirely opened online. To open a checking, savings, money market account, or a Visa check card you can fill out an application online. Then you must go to a branch location to finish the application and sign paperwork. Only CDs are available for out of state customers. Not all account information is on the website. A customer service representative can answer your questions.

The different accounts have high required amounts to open the accounts. The checking account requires $500 to open. Money market and saving accounts require $1,000 to $25,000 to open the accounts. Once the account is open, you are only required to keep $0.01 in the accounts to earn interest.

Interest rates for Goldwater Bank accounts are tiered. To earn the most competitive interest rates requires large balances in the accounts. The money market account requires $100,000 to earn the most competitive rates. The checking account requires $5,000.

Read the full Goldwater Bank review.

Mutual of Omaha Review

To open Mutual of Omaha Bank accounts requires low amounts. The online checking account only requires $100 to open. The other checking accounts require from $100 to $1,000 depending on the account. The savings and money market accounts require $100 or $1,000. The online money market requires $1,000 to open.

Mutual of Omaha Bank offers a variety of personal deposit and business accounts. They offer six personal checking accounts. A basic savings account and two money market accounts are offered. CD terms vary from 1-month to 60-months; fixed rates and standard rate CDs offered.

Mutual of Omaha Bank offers an online checking and money market account. The online checking account only requires $100 to open. There is not a monthly fee if your balance is above $100. Balances over $1,500 earn interest. The money market account requires $1,000 to open, waive the fee, and earn interest. These accounts are available in all states.

To earn the most competitive rates for the online accounts does not require a large sum. The online money market account only requires $1,000 to earn the best rate. The online checking requires $1,500. Amounts over $250,000 earn much lower rates.

Mutual of Omaha Bank checking and savings accounts have monthly fees. Those fees range from $3 to $15 depending on the account. Waive the fees by keeping a set balance in the account. Those balances range from $100 to $10,000 depending on the account.

Not all accounts are available in all states. Mutual of Omaha limits the accounts to specific states. The online money market and checking account are available in all states. Most accounts must be opened at a branch location.

Not all Mutual of Omaha Bank accounts offer competitive rates. The online accounts offer rates competitive with other online accounts. The CDs and other accounts offered through branch locations are not as competitive. The rates may change based on the state you open the account in.

To earn the most competitive interest rates requires a large sum. The Mutual of Omaha Bank money market account requires $250,000 to earn the highest rate. The investment checking requires $50,000.

Read the full Mutual of Omaha review.

Sponsored Offers

Advertiser Disclosure
LendingClub
Savings (Rate as of 3/29/2024)
APY 5.00%
Rate 5.00%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC Plus, no monthly fees and unlimited free external transfers
Next >
American Express
Savings (Rate as of 3/29/2024)
APY 4.35%
Rate 4.26%
For APY $1
Monthly Fee $0.00
Checkbook No
Member FDIC
Next >
Jenius Bank
Savings (Rate as of 3/29/2024)
APY 5.25%
Rate 5.25%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC. No fees. Easy deposits and quick withdrawals.
Next >
CIT Bank
Savings (Rate as of 3/29/2024)
APY 5.05%
Rate 4.93%
For APY $5,000
Monthly Fee $0.00
Checkbook No
Member FDIC CIT Bank, a division of First Citizens, 125+ years of experience.
Next >
EverBank
Savings (Rate as of 3/29/2024)
APY 5.15%
Rate 5.02%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC
Next >
Capital One
Savings (Rate as of 3/29/2024)
APY 4.35%
Rate 4.35%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC It only takes about 5 minutes to open a fee-free account.
Next >
Barclays
Savings (Rate as of 3/29/2024)
APY 4.35%
Rate 4.35%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC
Next >
Laurel Road
Savings (Rate as of 3/29/2024)
APY 5.00%
Rate 5.00%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC
Next >
Sallie Mae
MMA (Rate as of 3/29/2024)
APY 4.65%
Rate 4.54%
For APY $0
Monthly Fee $0.00
Checkbook Yes
Member FDIC
Next >
VirtualBank, a division of First Horizon Bank
MMA (Rate as of 3/29/2024)
APY 5.00%
Rate 5.00%
For APY $0
Monthly Fee $0.00
Checkbook Yes
VirtualBank is a division of First Horizon Bank. Member FDIC.
Next >
MyBankingDirect, a service of Flagstar Bank, N.A.
Savings (Rate as of 3/29/2024)
APY 5.35%
Rate 5.35%
For APY $500
Monthly Fee $0.00
Checkbook No
Member FDIC
Next >