Wednesday, 25 November 2020

Pinnacle Bank’s Review: Checking, Savings, CD and Money Market Accounts

Pinnacle Bank’s Review: Checking, Savings, CD and Money Market Accounts
09 Dec
3:49

Pinnacle Bank (TN)’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.03%

Savings

Pinnacle Bank (TN) Vision Savings

2.00%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

Pinnacle Bank’s checking account options

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How Pinnacle Bank’s checking accounts compare

This bank offers a wide range of checking accounts, but three of them – Basic, Access and Balance–earn no interest and charge fees (though the bar for waiving these fees isn’t that high). In comparison, several online banks now provide no-fee accounts, which pay interest on deposits, as well as reimbursing ATM fees from out of network providers. This is a big plus if you are looking for a no-fee account.

If you regularly keep more than $2,500 in your checking account, the Interest Checking account has some nice benefits. There is no monthly fee once you hit that minimum balance, and the bank itself charges no ATM fees within the United States while refunding ATM charges from outside. The interest rate isn’t as high as many of the online banks, but it as good or better than many traditional banks offer on checking accounts.

The bank prides itself on provided a local touch, something that may or may not be important to you. The bank says when you call any of its regional numbers for help, you can talk to a real person, not a voicemail system. Advice in cases of ID theft comes with all levels of accounts. The bank also offers branded accounts associated with the Tennessee Titans and the Memphis Grizzlies.

You can check out the competition with our list of the best checking accounts.

Pinnacle Bank’s savings account options

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How Pinnacle Bank’s savings accounts compare

This bank only has one standard savings account, Vision Savings, and there isn’t much to offer. The interest rate is much lower than what you can find elsewhere. The primary benefit is the ease of access to your money, since the bank offers unlimited use of there ATMs and over-the-counter withdrawals and transfers.

See what interest rates and services are available with competitors on our list of the top savings accounts

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How Pinnacle Bank’s CD rates compare

This bank doesn’t provide rates for their CDs online, though they do say they offer a variety of terms. Call the bank to find out more information. You may also consider checking out other competitors on our list of the best CD rates.

Pinnacle Bank’s money market account options

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How Pinnacle Bank’s money market accounts compare

Frankly, these Money Market Accounts just don’t pay much interest. Even if you are only putting a little bit of money in your savings account, you can get a better rate online. See some of the best money market accounts here. It only really makes sense to get one of these accounts if you want to use it as a link to an existing Pinnacle Bank checking account, to pad for overdrafts or transfer money back and forth easily.

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Pamela Boykoff

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

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