-
Financial Rates:
5.0
-
Customer Service:
3.0
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- Low opening amounts and no fees
- Accounts are entirely online
- Competitive interest rates
- Interest rates are not tiered
Cons:
- Limited personal deposit accounts offered
- MMA does not offer checks or debit card
- Customer service not available 24/7
- Business accounts not offered
-
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
MemoryBank accounts only require $50 to open. Their accounts do not have monthly maintenances fees. There is no balance required to keep in the account to avoid the fees. The MemoryBank checking account and money market accounts are completely free.
The MemoryBank accounts are entirely online. You apply for the accounts online, and everything for your account is online. Any permanent resident of the U.S., over the age of 18, with an SSN or ITIN, are eligible to open a MemoryBank account.
Both MemoryBank accounts offer competitive interest rates. The checking and money market account rates are competitive with other online accounts. These interest rates are much higher than other brick and mortar bank rates.
MemoryBank interest rates are competitive, and they are not tiered. You do not have to have a large account balance to earn the most competitive interest rates. Any balance earns the most competitive rate offered.
MemoryBank offers limited personal deposit accounts. Those accounts include a checking account and a money market account. You can open as many of these two accounts as you would like, but only the two accounts are available.
The MemoryBank money market account does not offer checks or a debit card. To withdraw money from the money market account, you can make an electronic transfer from the MMA into your checking account. You can also request a check to withdraw money from the MMA.
MemoryBank is an entirely online bank. There are no branch locations. You can reach customer service through email, mail, phone, or through online chat. Customer service does have set hours. Those hours are Monday through Friday from 7:30 a.m. to 8:00 p.m. Eastern Time.
MemoryBank only offers personal deposit accounts. No business accounts are available at this time. The personal deposit accounts offered are a checking account and a money market account.
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.
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| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.73% |
| 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 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.65% |
| Min to Open | $500 |
| Min to Earn APY | $500 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.80% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: It only takes about 5 minutes to open a fee-free account. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.40% |
|---|---|
| Rate | 4.30% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.46% |
|---|---|
| Rate | 4.46% |
| Min to Open | $500 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: $200 Bonus w/ Tiered Savings Account and Qualifying Activities |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $100 |
| Min to Earn APY | $5,000 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: CIT Bank, a division of First Citizens, 125+ years of experience. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.30% |
|---|---|
| Rate | 4.21% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| MMA (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | Yes |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.10% |
| 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 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $1,000 |
| Min to Earn APY | $1,000 |
| Monthly Fee | $5.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.75% |
| Min to Open | $10 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| FDIC insured at program banks†. Promoted offer: var. APY a/o 11/8/24. New customers only. Betterment LLC, not a bank |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
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.
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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.