Quorum does not have a set amount required to open their HighQ savings account. The basic savings account only requires $5 to open, which Quorum will pay for you. The checking accounts offered through Quorum do not have a set amount required to open.

Most Quorum accounts do not have monthly fees. If the accounts do have a fee, that fee is easy to waive. Electronic statements waive the fee for the basic savings account. Waive the checking account fees by having a set amount in direct deposits or a set account balance. You must also sign up for electronic statements.

The HighQ savings account and some CDs offer the most competitive interest rates. The rates are competitive with other online-only accounts. There is no required amount to open the HighQ account and no monthly fees. This account can be opened online. The CDs require $1,000 to open.

The QChoice checking account offers ATM reimbursement. There are a variety of ATMs that are free of charge to Quorum customers. However, if you use an ATM that charges a fee, Quorum will reimburse that fee up to $15 per month. The fee reimbursement will deposit automatically into your account on the second business day of the following month.

To open an account with Quorum, you must become a member of the credit union. To open an account online, you must be over 18. If you are under 18, you must mail in the application. To establish your membership, you must open a basic savings account. The required amount is $5, but Quorum will fund that amount.

Most Quorum accounts do not offer competitive interest rates. Most account rates are competitive with typical brick and mortar bank rates. The HighQ savings account offers the most competitive rate. That account offers interest that is competitive with other online accounts.

Most Quorum account interest rates are tiered. The checking account requires a $20,000 balance to earn the most competitive rate. The money management account requires $250,000 to receive the best rate.

The only accounts offered through Quorum are personal deposit accounts. No specific business accounts are available. Those personal deposit accounts include checking and savings accounts, and CDs. The CDs range from three-months to five-year terms.

Read the full Quorum Federal Credit Union review.

Customers Bank accounts offer free ATM transactions at PLUS and NYCE ATMs. The Convenience checking account offers ATM fee refunds. To qualify for the refunds, you must have at least $5,000 in Customers Bank accounts.

There are a variety of personal deposit and business accounts available. Those include:

• Convenience checking
• Free checking
• Bonus checking
• Money market account
• Reserve savings
• CDs from 3-60 months
• Loans and mortgages
• Business accounts and lending options

The personal deposit accounts with Customers Bank have low opening required amounts. Each of the checking and savings accounts only require $10 to open. The money market requires $50 to open. The CDs require $500 to open.

The Bonus checking account earns competitive interest rates if you meet the qualifications. That requires you to spend $500 a month using your debit card. Those rates are much higher than the standard rates and are competitive with other online checking accounts. To open the Bonus checking account, you must use new money. You cannot use money already in a Customers Bank account.

Most of the accounts with Customers Bank do not offer competitive interest rates. The accounts offer rates similar to traditional bank rates. Customers Bank used to offer accounts with competitive interest rates. Those accounts are no longer available.

Not all accounts at Customers Bank can be opened online. Some accounts require visiting a branch location to open. They have branch locations in eight states. Not all products are available at every location. Contact customer service to see which accounts are available near you.

Money market accounts at Customers Bank have tiered interest rates. To earn the most competitive rates requires $250,001. Even the most competitive rate is not competitive with other online money market accounts.

Some Customers Bank accounts have monthly fees. The Convenience checking account has a monthly fee of $29 if you do not meet the requirements. You must keep a $5,000 balance in Customers Bank accounts to waive the fee. The money market account has a $5 fee if your balance falls below $1,000. The retirement savings account has a $5 fee if your balance falls below $100.

Read the full Customers Bank review.