Northern Bank Direct
Online Savings Account - 4.75% APY
• No monthly service charges.
• Minimum of $5,000 to open.
• Electronic transfers.
• Member of the SUM® Program, so it can be avoided ATM surcharges by using participating ATMs.
Fee and Feature Guide
|
Savings Account |
| Interest Rate |
|
| APY |
4.75% |
| Minimum deposit amount |
$1.00 |
| Maximum deposit amount |
$250,000.00 |
| Balance Requirements |
|
| Minimum Opening Deposit |
$5,000.00
|
| Minimum Balance to Avoid Fees |
$0.00 |
| Minimum Required Balance |
$0.00 |
| Minimum To Earn |
$0.00 |
| Fees |
|
| Monthly Maintenance Fee |
N/A |
| Foreign ATM Fees |
N/A |
| Insufficient Funds Fee |
N/A
|
| Incoming Wires |
N/A
|
| Statements |
|
| Paper Statements |
Yes |
| Online Statements |
Yes |
| Online and Telephone Banking |
|
| Online Banking |
Yes |
| Telephone Banking |
Yes |
| Mobile Banking |
Yes |
| Deposit Checks with Mobile Device |
Yes |
| Free Bill Pay |
Yes |
| Online Bill Payments Required |
Yes |
| Account Opening |
|
| Open Online |
Yes |
| Insured by |
F.D.I.C.
|
Pros
- Competitive rates.
- Friendly service from a family-owned bank.
Cons
- $5,000/day ACH transfer limits.
Recent Rate Changes
|
Date
|
APY
|
|
November 17, 2024 |
4.75%
|
|
September 25, 2024 |
4.85%
|
|
August 20, 2023 |
4.95%
|
Customer Reviews for Northern Bank Direct (12)
Mike Brown
July 6, 2023
This is an example of a bad bank. Their online process for purchasing a CD is horrible. You fill it out and it rejects it after all of your private information is disclosed. They there customer service is bottom of the barrel they contact you will an automated email unacceptable and 29 days late. That same day they took my information and rejected application. I opened a new CD with Forbright Bank the process was smooth and it took about 12 minutes. I would not recommend anyone to give out their information or try to process anything through northern bank, direct as their service is unacceptable and junk.
Is this review helpful? Yes:5 / No: 0
Leder
February 8, 2023 |
Here is your 1 star
Is this review helpful? Yes:4 / No: 3
Leder
February 8, 2023
Just another corksoaker playing games! This rate is for new accounts, look for other winners..........................
Is this review helpful? Yes:5 / No: 0
Jason
June 20, 2018 | | Replies 1
Their website says the offer is going away tomorrow at 9AM EST. Hurry!
Is this review helpful? Yes:2 / No: 1
| Jun 20, 2018
great find Jason, looks like this really was a to good to be true rate
raoul
June 19, 2018 |
Thanks FP, I have done some research and your correct.
1. "If you initiate the electronic transfer from your other financial institution, Northern Bank Direct does not impose a limit on the amount of the transfer. However, you should check with your other financial institution to see what their limits are." 2. "There is no limit on the number of financial institutions located in the US that you may link to your Northern Bank Direct account" its all in the FAQ, the rate blows everyone away
Is this review helpful? Yes:2 / No: 1
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