Wednesday, 20 January 2021

Banner Bank Review: Checking, Savings, CD, Money Market and IRA Accounts

Banner Bank Review: Checking, Savings, CD, Money Market and IRA Accounts
01 Jul
6:18

This account is sort of like Baby Bear’s bed in the Goldilocks fairy tale. It has a higher monthly fee and minimum opening balance requirement than Banner Bank’s Connected Savings account. But you only need to keep $1,000 in the account, rather than $5,000, to avoid the $10 monthly fee as compared to the Banner’s Best Savings account — presumably, it also offers medium-level interest rates as well. Contact the bank for up-to-date rate information. It’s sort of a middle-ground account.

You can make as many ATM and in-person withdrawals as you want with this account. However, other withdrawal types are allowed up to six per month, per federal Regulation D rules, and any withdrawals past that will cost you $5 each from the bank. This account also comes with the ability to write checks.

How to get Banner Bank’s Money Market account

Even if Banner Bank isn’t very transparent, at least they make opening an account easy. You can do it online or at a branch, as long as you have a valid ID and a Social Security number, and reside in the the applicable states (California, Idaho, Oregon and Washington state).

Source: https://www.magnifymoney.com/blog/reviews/banner-bank/

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