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finder.com’s rating: 3.3 / 5.0
★★★★★
Competitive interest rates, ATM access and mobile banking are a few of the perks this account offers. But a $100 opening deposit is required and transactions are limited.
0.45%
APY
$15 per month
Fee
$100
Minimum deposit to open
Review by
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
The Bank7 High Rate Online Savings account is best for new customers looking for a high-yield savings account. This account offers a competitive 0.45% APY along with unlimited ATM withdrawals and mobile banking.
But should your balance dip below $100, the $15 minimum balance fee could start to gnaw at your savings.
To fund your account, mail a check to Bank7, 1039 NW 63rd Street, Oklahoma City, OK 73116. Or download the Bank7 Mobiliti mobile banking app to use the mobile check deposit feature.
After you’ve funded your account, you’ll receive your ATM card by mail within seven to 10 business days.
To be eligible for the Bank7 High Rate Online Savings account, you’ll need to meet the following criteria:
Before starting the application process, gather the following:
Take advantage of a fully online application process along with these perks:
Along with a $100 minimum opening deposit, there are a few drawbacks:
If you’re not a new Bank7 customer and are looking for a high-yield savings account, you’ll want to keep looking. As always, compare your options when choosing a savings account.
The Bank7 High Rate Online Savings account offers six ways to tap into your funds:
There are a number of ways to pinch your pennies with Bank7:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.