Published on May 22nd, 2019 | by Chuck9
WebBank 2.2% APY High Yield Savings Account [Nationwide]
Update 8/12/19: Rate lowered to 2.2% APY
Update 8/5/19: Rate lowered to 2.45%.
Offer at a glance
- Interest Rate: 2.50% APY
- Minimum Balance: $1,000
- Maximum Balance: None stated ($500,000 max initial deposit)
- Availability: Nationwide
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: None (ACH funding only)
- Monthly fees: None
- Insured: FDIC
- WebBank offers a high yield savings with an interest rate of 2.50% APY.
The Fine Print
- The minimum deposit required to open and maintain a Savings Account is $1,000. If your account balance falls below this minimum amount, your Savings Account will be closed and the balance of the funds remaining in the Account will be returned to you in a manner deemed appropriate by us. Funding must be initiated using electronic funds transfer, also known as ACH, at the time of account application.
- The maximum initial funding limit per account is $500,000.
- Initial funding must be via electronic funds transfer.
This account has no monthly fees.
We added this at some point to our list of Best High Yield Savings Accounts at 2.45%, and they’ve now increased the rate to 2.50% which matches the very best interest rates on simple accounts currently available. If anyone has used this bank, please share your experiences in the comments below.