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.

Read the full MemoryBank review.

Quontic accounts earn competitive interest rates. These account rates are competitive with other online accounts. The interest rates are much higher than typical bank interest rates.

The required opening amounts for Quontic accounts are low. The regular savings account requires $100 to open. The checking account and money market account requires $500 to open. Each of the CD terms require $1,000 to open.

There are a variety of accounts offered through Quontic. They offer personal savings, checking, and money market accounts. They also offer personal CDs and IRA CDs. Quontic offers business accounts. Those include business checking and savings accounts. Quontic offers personal and business lending options, including reverse mortgages.

The Quontic checking account does not have a monthly fee. The money market account only has a fee if you receive a paper statement. That fee is $5 per month. If you opt into paperless statements, there will not be a fee on the account. Most Quontic accounts do not have a minimum balance required to keep in the account to avoid the fees. The regular savings does have a $3 fee if your account balance falls below $100.

Quontic accounts have tiered interest rates. To earn competitive rates on accounts requires a high account balance. To earn the highest rate for the MMA requires a balance over $100,000. The regular savings account requires a balance of $250,000 to earn the most competitive rate. Amounts over $5,000 for the MMA earn competitive interest rates, just not the highest. The regular savings account requires a $50,000 balance to earn a competitive rate.

The Quontic checking account earns very competitive interest rates. To earn those rates, you must meet the requirements. You must have 15 point-of-sale debit transactions and one ACH transaction in or out of the account. You must meet these requirements each statement cycle. If you do not meet these requirements, you will not receive the competitive rates.

Quontic Bank has limited CD terms available. They do not offer a CD term shorter than 12-months. The longest CD term is a 60-month term. There are five total CD terms available with Quontic Bank. Each CD requires $1,000 to open. The CDs and IRA accounts are only for personal deposit accounts.

Quontic offers over 90,000 surcharge-free ATMs. If you use an ATM not in their network, Quontic will not reimburse you the ATM fee. The ATMs in their network include AllPoint, MoneyPass, and SUM. The ATMs at Citibank branches are also included.

Read the full Quontic review.