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Associated Bank products: Savings, Checking, and CDs

Offers a range of products and 24/7 customer service — but interest rates are shockingly low.

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Associated Bank
Associated Bank has locations throughout Illinois, Minnesota and Wisconsin but services clients nationwide. It boasts a variety of products, a large ATM network and 24/7 customer service. But interest rates for all of its accounts are much lower than the competition.

What banking products does Associated Bank offer?

How does Associated Bank compare to other banks and services?

Associated Bank was founded in 1970 and manages nearly $34 billion in assets. It’s ranked as one of the top 50 publicly traded US bank holding companies and is headquartered in Green Bay, Wisconsin. It has over 230 bank branches and hundreds of ATMs spread throughout Wisconsin, Illinois and Minnesota.

Checking accounts

Pros

  • Overdraft protection. Link your checking account to an Associated Bank savings account and money will automatically transfer if your balance dips below $0.
  • Large ATM network. Use hundreds of Associated Bank ATMs and more than 30,000 MoneyPass ATMs nationwide for free.
  • Several account options. Associated Bank has six checking accounts for personal and business use giving you plenty of options to choose from.

Cons

  • High minimum deposits. You’ll need at least $100 to open an Associated Balanced or Choice Checking account and $25 to open an Access Checking account.
  • Monthly fees. Business checking fees range from $15 to $35 a month depending on the account type. While there’s one free personal checking account, the rest have monthly fees ranging from $9 to $25.
  • Doesn’t reimburse operator ATM fees. Associated Bank waives its $2.50 fee on some of its accounts when you use a non-network ATM, but you’ll still pay operator fees.

Savings accounts

Pros

  • Low opening deposits for savings accounts. You only need $25 to open most Associated Bank savings accounts.
  • Free ATM withdrawals. Use your ATM card to access money for free at any Associated Bank or MoneyPass ATM nationwide. But you’ll pay $2.50 if you use ATMs outside these networks.

Cons

  • Low APYs. The highest rate offered by Associated Bank is 0.20% APY for a relationship savings account — and that’s with a $1 million minimum balance. Most accounts earn a measly 0.01%, which is shockingly low.
  • Monthly fees. Every savings and money market account has an associated monthly fee. Although these can be waived when you meet certain balance requirements.
  • High deposit requirement for money market. If you want to open a money market account, you’ll need at least $1,000 to get started.

CDs

Pros

  • Flexible terms. Choose from 3, 6, 9, 12, 18, 24, 30, 36, 48 or 60 month terms.
  • Accessible interest. If your CD balance is $5,000 or more, you can elect to have your CD interest transferred to another Associated Bank account or issued as a check at any time.
  • Add-on CD option. If you can’t swing the $1,000 opening deposit for a regular CD, Associated Bank offers add-on CDs with a 12-month term and a low $100 opening deposit. Plus, you make unlimited deposits at any time.

Cons

  • $1,000 opening deposit. All of Associated Bank‘s regular CDs require a minimum $1,000 opening deposit.
  • Low APYs. CD rates range from 0.05% to 0.20% depending on the term length. With rates this low, you’ll be better off keeping your money in a high-yield savings account at another bank.
  • Early withdrawal penalties. You’ll lose 181 days of simple interest for add-on CDs and 90 to 365 days of interest for regular CDs if you need to withdraw your money early.

Overall banking

Pros

  • Variety. Associated Bank is a one-stop-shop for consumers and businesses looking to open a range of checking and savings accounts.
  • 24/7 customer service. Chat with a customer support representative at any time by phone.
  • Zelle. Send or receive money from family and friends for free through Zelle.

Cons

  • Regional bank. Associated Bank doesn’t have any branch locations outside of Illinois, Minnesota and Wisconsin.
  • Low APYs. This bank has low APYs across the board, so it may not be a good fit for those looking to grow their money fast with a competitive interest rate.

    Compare Associated Bank to the competition

    Name Product Minimum deposit to open ATMs Out-of-network ATM fee
    BBVA Online Checking
    $25
    No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
    $3
    A full-service account with convenient, surcharge-free access to two massive ATM networks, plus a $200 signup bonus when you meet deposit requirements
    Citibank® Account Package
    Citibank® Account Package
    $0
    No access to ATMs
    $2.50
    Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
    Aspiration Spend & Save Account
    $10
    55,000 free in-network ATMs
    $0
    A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
    NorthOne Business Banking
    $50
    More than 300,000 ATMs across America.

    $0
    A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
    BBVA Free Checking
    $25
    1,000 fee-free ATMs across the country
    $3
    Pay a $0 monthly service charge and get free access to BBVA ATMs.
    Chase Total Checking
    $0
    Access to 16,000 ATMs and nearly 4,900 branches nationwide
    $2.50
    Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 4,900 branches. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
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    Associated Bank customer service

    Contact Associated Bank customer service 24/7 by:

    • Calling 800-236-8866.
    • Visiting a branch location near you.
    • Sending a secure message through the account portal.

    Bottom line

    Associated Bank offers many appealing features such as 24/7 customer service and a large ATM network. But its APYs are astonishingly low. If you’re looking for higher yields, explore other banking options.

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