Every My eBanc account offers competitive interest rates. The rates are much higher than typical brick and mortar bank rates. The accounts are personal deposit checking and money market account and CDs. My eBanc offers regular CDs, jumbo, and one fixed rate CD.

The account interest rates at My eBanc are not tiered. There is not a required balance to earn the most competitive interest rate. Any amount in the account earns the competitive interest rate. However, the money market and checking account do have a monthly fee if the balance falls under $5,000.

My eBanc accounts are entirely online. Everything for your account is done through the website or mobile app. Make deposits through electronic transfers or by mailing in a check. There is only one branch location in Florida.

The My eBanc money market accounts and checking accounts allow you to write checks and have a debit card. The money market account only allows for six withdrawals each month. The checking account has unlimited check writing options with no charge. Your first 50 checks are free.

The minimum deposit required to open My eBanc accounts is high. The checking, money market, and regular CDs all require $5,000 to open. The jumbo CDs require $100,000. The Flex Time Deposit CD requires $10,000 to open.

The money market and checking account have a monthly fee. The fee for both accounts is $15 monthly. Waive both of those fees if you keep an average daily balance of more than $5,000. You still earn interest on amounts under $5,000, but your earnings will be cut into by the fee.

There are limited accounts offered through My eBanc. Only personal deposit accounts are available. My eBanc offers one checking account and one money market account. There are five different term lengths of CDs. Those same terms are available in jumbo CDs. One fixed rate CD is offered.

My eBanc does not offer any business accounts. Only personal deposit accounts are available. Personal deposit checking and money market accounts and some CDs are offered.

Read the full My eBanc review.

VirtualBank money market accounts have a low required opening deposit. The required amount is only $100. That opening deposit is for the eMoney Market and the Jumbo eMoney Market.

The interest rates on VirtualBank accounts are competitive with other online-only accounts. You only need one penny in the eMoney Market account to earn interest. To earn the highest interest on the Jumbo eMoney Market, you must keep at least $250,000 in the account. Anything over $0.01 earns interest, just not the highest rates.

The eMoney Market account offers a competitive introductory rate. New customers to VirtualBank receive a higher interest rate for the first year of the account being open. After the first year, the rate drops considerably. The lower rate is still much higher than your typical brick and mortar bank rates. Money already in a VirtualBank account does not qualify for the higher rate.

All VirtualBank accounts come with online and mobile banking. With online banking, you can see account balances, transfer funds, and receive e-Statements. Everything that can be done online can be done through mobile banking. You can also deposit checks through the app.

The eMoney Market and the Jumbo eMoney Market account have a monthly fee. The fee is $5. To waive the monthly fee, you must keep $100 in the account.

The Jumbo eMoney Market requires $250,000 to earn the highest interest rate. You still earn interest on any amount less than $250,000. To earn the highest amount, you must have that balance. This account only requires $100 to open. The eMoney Market account earns the same amount of interest not matter how much you have in the account.

VirtualBank CDs require $10,000 to open. The CDs range from a one-month term to a five-year term. There are 11 different CDs between those term lengths. The interest rates for each different term are competitive. The longer the term, the higher the interest rates.

VirtualBank does not offer checking accounts. They used to offer an eChecking account, but it no longer available. Because no checking accounts are offered, there are no ATM or debit cards. Bill pay is not available. You can have money directly deposited into VirtualBank money market accounts.

Read the full VirtualBank review.