APY GUY: Maximize Your Savings & Earnings

Checking Accounts

Chase Bank Fees for 2023 – Here’s What to Expect

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Fact Checked :
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Chase Bank is one of the most recognizable names in banking. Their presence – both branch and ATM – is as vast as their customer base with 16,000 ATMs and 4,700 branches nationwide. On top of this tremendous reach, they also sit on roughly $4 trillion (yes, with a T) in assets.

While a bank of this size has much to offer in terms of accessibility, it is no secret that the institution’s most popular bank accounts and products typically come with fees.

These fees generally include:

  • overdraft charges,
  • monthly maintenance fees,
  • checking account fees,
  • wire transfer fees and
  • ATM fees for using a non-Chase machine (not to mention what that ATM owner charges)

While the monthly maintenance fees can be waived on most accounts, some of the other fees may be inevitable.

Below is a complete breakdown of all the fees you can expect to pay with Chase Bank’s most popular accounts as well as how to waive them (if possible).

Chase Secure Banking Checking Account Fees

The Chase Secure Banking account is considered the middle tier in terms of Chase checking account options. The big difference with this account is that it has a flat $4.95/month service fee that can not be waived. In exchange for this, the account comes with no overdraft fees. If you overdraft your account, they will simply decline or return the transaction.

Fees by Type

TypeFee
Monthly Maintenance$4.95 (can not be waived)
Minimum Deposit$25
OverdraftNone
Card ReplacementFree 3-5 business days. $5 rush payment.
Foreign Transaction3%
ATM (out-of-network, domestic)$3.00 (plus whatever the ATM owner charges)
ATM (out-of-network, international)$5.00
Wire (incoming, domestic)$15 (free if coming from Chase)
Wire (outgoing, domestic)$25 ($35 if done with a banker)
Wire (incoming, international)$15 (free if coming from Chase)
Wire (outgoing, international)$50 if done with a banker.
$40 if done online or with mobile app and funds are sent in USD.
$5.00 if done online or with mobile app and funds are sent in foreign currency.
$0.00 if done online or with mobile app and funds are sent in foreign currency AND amount is more than $5k.
Stop Payment with Customer Support$30
Online or Automated Phone Stop Payment$25
Returned Item or Check$12
Money Orderfree
Cashier’s Checkfree

Chase Total Checking Account Fees

The Chase Total Checking account is the most basic checking account option. It comes with a minimum deposit requirement of $25 and a hefty monthly fee of $12 that can be waived by doing any of following:

  • Direct deposit totaling $500 or more made to this account
  • OR a balance at the beginning of each day of $1,500 or more in this account
  • OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying deposits or investments.

Below is a complete list of fees to look out for if opening a Chase Total Checking account.

Fees by Type

TypeFee
Monthly Maintenance$12 (can be waived)
Minimum Deposit$25
Overdraft$34
Card ReplacementFree 3-5 business days. $5 rush payment.
Foreign Transaction3%
ATM (out-of-network, domestic)$3.00 (plus whatever the ATM owner charges)
ATM (out-of-network, international)$5.00 (plus whatever the ATM owner charges)
Wire (incoming, domestic)$15 (free if coming from Chase)
Wire (outgoing, domestic)$25 ($35 if done with a banker)
Wire (incoming, international)$15 (free if coming from Chase)
Wire (outgoing, international)$50 if done with a banker.
$40 if done online or with mobile app and funds are sent in USD.
$5.00 if done online or with mobile app and funds are sent in foreign currency.
$0.00 if done online or with mobile app and funds are sent in foreign currency AND amount is more than $5k.
Stop Payment with Customer Support$30
Online or Automated Phone Stop Payment$25
Returned Item or Check$12
Money Order$5.00
Cashier’s Check$8.00

Of course, you’ll also have to pay for things like paper checks or paper statements ($6 per statement copy) should you wish to obtain them, but Chase Bank has a robust online banking platform and native apps on IOS and Android that will give you plenty of access to all your account information free of charge.

Chase Premier Plus Checking Account Fees

The Chase Premier Plus Checking account is the top tier in terms of Chase checking account options. It comes with an interest rate (although the standard rate sits at just 0.01% APY at the moment) and they waive fees for counter checks, money orders and cashier’s checks.

It comes with an even heftier monthly maintenance fee of $25 that can be waived by doing any of following:

  • An average beginning day balance of $15,000 or more in any combination of this account and linked qualifying deposits or investments
  • OR have a linked qualifying Chase first mortgage enrolled in automatic payments from your Chase account

If you cannot meet the two qualifications above, Chase will also let you waive the $25 monthly fee by linking:

  • Up to two additional personal Chase checking accounts (excluding Chase Sapphire, Checking and Chase Private Client Checking)
  • Chase personal savings account(s), excluding Chase Private Client Savings
  • Chase Liquid Card(s)

Below is a complete list of fees to look out for if opening a Chase Premier Plus Checking account.

Fees by Type

TypeFee
Monthly Maintenance$25 (can be waived)
Beginning Day Balance$15,000 to avoid $25 fee
Overdraft$34
Card ReplacementFree 3-5 business days. $5 rush payment.
Foreign Transaction3%
ATM (out-of-network, domestic)$3.00 (plus whatever the ATM owner charges)
ATM (out-of-network, international)$5.00
Wire (incoming, domestic)$15 (free if coming from Chase)
Wire (outgoing, domestic)$25 ($35 if done with a banker)
Wire (incoming, international)$15 (free if coming from Chase)
Wire (outgoing, international)$0 – $50
Stop Payment with Customer Support$30
Online or Automated Phone Stop Payment$25
Returned Item or Check$12
Money Orderfree
Cashier’s Checkfree

Chase Sapphire Checking Fees

Chase’s newest checking account, Chase Sapphire Checking, is also their most elite account. It requires an average beginning day balance of $75,000 in Chase linked deposit accounts including checking, savings, CD (certificate of deposit) and retirement accounts to avoid a $25 monthly maintenance fee.

If you can maintain the high balance requirement you’ll also be rewarded with minimal fees – including free wire fees and free out-of-network ATM fees plus reimbursement. See below for details.

Fee by Type

TypeFee
Monthly Maintenance$25 (can be waived)
Beginning Day Balance$75,000 to avoid $25 fee
Overdraft$0 during first 4 business days. Learn more.
Foreign Transaction0%
ATM (out-of-network, domestic)free
ATM (out-of-network, international)Free plus reimbursement for 3rd party fees
Wire (incoming, domestic)$0 (free if coming from Chase)
Wire (outgoing, domestic)$0 ($35 if done with a banker)
Wire (incoming, international)$0 (free if coming from Chase)
Wire (outgoing, international)$0
Money Orderfree
Cashier’s Checkfree

Chase Bank Savings Account Fees and Rates

Chase Bank currently offers two different savings accounts – The Chase Savings and the Chase Premier Savings. Both of these accounts come with monthly fees that can be waived.

The Chase Savings account comes with a $5 monthly maintenance fee unless one of the following conditions apply:

  • you’re under the age of 18
  • you maintain at least a $300 minimum daily balance
  • you set up at least one recurring automatic transfer of $25 from a Chase checking account
  • you link your savings to a Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client Checking account

The Chase Premier Savings account comes with a $25 monthly maintenance fee unless one of the following conditions apply:

  • maintain a minimum daily balance of $15,000
  • link up a Chase Premier Plus Checking or Chase Sapphire Checking account

All of the additional miscellaneous fees from the table(s) above apply to both of the chase savings accounts.

You won’t earn much in the way of interest on either savings account offered by Chase Bank currently. Current rates vary between just 0.01% and 0.02% APY depending on your relationship standing with the bank. In other words, how many accounts you hold with them and your balances in each.

How to Avoid Chase’s Monthly Maintenance Fee

Most of the country’s largest banks have checking accounts with monthly maintenance fees that can be waived by meeting some basic criteria. Chase is no different with monthly maintenance fees ranging from $4.95 to $25.

The 3 different ways to waive Chase’s maintenance fees are:

  • Maintain the required minimum balance requirement. This ranges from $300 to $75,000 depending on which checking account you open with Chase Sapphire Checking requiring the $75,000.
  • Set up qualifying direct deposit. Chase Total Checking requires $500 per statement cycle to waive the monthly maintenance fee.
  • Link other Chase accounts. These vary by account but can include mortgage, credit card(s) and/or business accounts.

How Do Chase’s Monthly Maintenance Fees Compare to Other Banks

Take a look at the table below to see how Chase Bank’s monthly maintenance fees stack up against those same fees from other well known banks and their checking account products.

BankMonthly Maintenance Fees
Bank of America$4.95, $12 and $25
Citibank$10, $12, $25, $30
Wells Fargo$5, $10, $25, $35
Chase Bank$4.95, $12 and $25

How to Avoid Chase’s Overdraft Fees

The easiest and most obvious way to avoid Chase’s overdraft fees is to stay on top of your daily balance. You can download their app and check your balance on the go before making purchases or withdrawing cash.

Another option is to sign up for overdraft protection. This will require you to also open a Chase savings account. The savings account will then be used to cover any overdraft charges from your checking account.

Remember, overdraft charges from Chase are $34 each with a maximum of 3 charges per day.

How to Avoid Chase’s ATM Fees

Use one of Chase Bank’s 16,000 ATMs worldwide to avoid all ATM fees regardless of which Chase checking account you have. Locate Chase ATMs here.

If you can’t use a Chase ATM but need cash, Chase may charge you $3.00 for each out-of-network withdrawal but this depends on which checking account you have.

If you have their most basic accounts – Chase Secure Banking and Chase Total Checking – then Chase will charge you $3.00 each for every out-of-network withdrawal.

If you have the Chase Premier Plus Checking account then Chase won’t charge you for the first 4 out-of-network ATM uses per statement cycle. Any withdrawals made beyond 4 during this period will face the $3.00 out-of-network charge from Chase.

If you have the Chase Sapphire Checking account (the most elite checking account that Chase offers) then not only will Chase never charge you for out-of-network ATM usage, but they will also reimburse you for all 3rd party ATM charges.

📌 Remember – These are just Chase Bank’s out-of-network ATM fees. The 3rd party ATMs you use will also have their own fees associated with each withdrawal you make.

How to Avoid Chase’s Transfer Fees

The easiest way to transfer money without incurring fees from Chase is to avoid using wire transfers. Chase’s online banking supports Zelle for both personal and business use so you can request money and make payments without facing any fees. Cashiers checks and money orders are also free for all Chase checking account holders.

SoFi Checking and Savings – Now up to 4.20% APY!

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The fintech company SoFi was launched back in 2011 by four Stanford graduates originally looking to provide more affordable options for students taking on debt to fund their education.

Today, SoFi is a publicly traded company on the Nasdaq providing an array of personal finance products including: lending, investing, cryptocurrency trading, banking, credit monitoring and insurance.

SoFi’s newest product, however, is the focus of this review. The SoFi Checking and Savings launched last year in the Spring of 2022 and officially replaced their former cash management account called SoFi Money (more on that below).

SoFi Checking and Savings Account Details

image credit: sofi.com

The SoFi Checking and Savings account is actually 2 accounts that are opened together. They do not provide standalone checking or savings accounts.

The APY (annual percentage yield) you earn on each account is going to depend on whether or not you set up direct deposit.

If you set up direct deposit of at least $1,000 you’ll receive the following benefits:

  1. Higher APY on both savings and checking balances. See table below.
  2. Get your paycheck 2 days early.
  3. No overdraft fees.
  4. Up to $250 cash bonus when you deposit $5,000 or more.

Checking and Savings Rates

AccountSet up Direct DepositAPY
CheckingYes1.20%
CheckingNo1.20%
SavingsYes4.20%
SavingsNo1.20%
APY = Annual Percentage Yield

To put the yields above into perspective, the current national average on a savings account and an interest checking account sit at just 0.40% and 0.07% APY, respectively, according to the most recent FDIC data. That said, a small handful of the top online accounts and nationally available credit unions are now paying above the 4.60% APY mark on some high yield savings accounts.

$250 Cash Bonus (limited time)

For a limited time, SoFi is giving new members a cash sign-up bonus of either $50 or $250 depending on your qualifying direct deposit amount.

The bonus structure is as follows:

Direct DepositCash Bonus
$1k – $4,999$50
$5,000 +$250

SoFi determines your cash bonus during a 30-day “Evaluation Period.” Within 14 calendar days following the evaluation period, SoFi will determine your cash bonus and deposit funds into your checking account.

Additional Features

These two accounts come with some additional noteworthy features. These are:

  • 2-Day Early Paycheck. You must set up a direct deposit (no $ requirement) to enable this feature.
  • No-Fee Overdraft coverage. You must set up a direct deposit of at least $1,000/mo to enable this feature.
  • Get up to 15% cash back at local businesses when you pay with your SoFi debit card. No direct deposit set-up required.
  • Automatic Savings Features. Set up savings goals, round-ups and save your change features. No direct deposit required.

Account Fees

There are no monthly maintenance fees associated with these accounts. There are also no fees on overdrafts (if criteria is met) or dormant accounts.

SoFi is a part of the Allpoint network, so there are no ATM fees at the 55,000+ Allpoint ATM locations worldwide.

FAQs

Still have more questions about the SoFi Checking and Savings accounts? Here are some of the most commonly asked questions and their answers.

Does SoFi Checking and Savings have FDIC insurance?

Yes, all deposits are swept daily into one or more banks – which are referred to as “The Program Banks” – where they are eligible for FDIC insurance through those partnered banks. It may take 2 business days for your funds to reach one or more of the Program Banks, but once they do they are fully FDIC-insured up to $1.5 million.

What happened to SoFi Money?

SoFi Money was the cash management account offered by SoFi before the launch of Checking and Savings. Since SoFi Checking and Savings has the best features of SoFi Money and more, SoFi is no longer offering this product to new customers.

What if I Currently Have SoFi Money?

If you are an existing SoFi Money customer, SoFi has invited you to upgrade to SoFi Checking and Savings. This invitation can be found in your email or through the app.

Does Sofi Checking and Savings have an app?

Yes. All of SoFi’s products can be accessed by downloading their IOS or Android apps. On Apple, they have a 4.8 out of 5 star rating based on over 246k reviews. On Google Play they have a 4.1 out of 5 star rating with just over 28k consumer reviews.

What if I just want the savings or checking account, but not both?

When you sign up for SoFi checking and savings, you will automatically receive both a checking and savings account. Both accounts earn 1.20% APY on balances unless direct deposit is set up. Once direct deposit is set up then the savings account earns 4.20% and balances in the checking account earn 1.20% APY. The interest is applied on all account balances (SoFi used to cap it at $50,000).

How to Replace your Wells Fargo Debit Card – Lost or Stolen

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image credit: wellsfargo.com

Did you lose your Wells Fargo debit card recently?

Losing a debit card or having it stolen can be a frustrating and stressful experience for anyone. 

With the rise of digital banking and cashless transactions, debit cards have become an essential part of our daily lives. 

They provide us with convenient access to our bank accounts, enabling us to make purchases, withdraw cash, and pay bills without the need for physical money. 

However, the loss or theft of a debit card can lead to unauthorized transactions, fraudulent activities, and potential financial losses. It is crucial to take immediate action and follow the necessary steps to mitigate the impact of such incidents.

Take a look at our guide on how to get a replacement debit card from Wells Fargo and how to deactivate your lost or stolen Wells Fargo card below.

Cancel Your Lost or Stolen Wells Fargo Debit Card

If your Wells Fargo debit card is lost or stolen, it’s important to cancel it as soon as possible to prevent unauthorized transactions on your account. You can cancel a lost or stolen Wells Fargo debit card using any of the following methods:

  1. 🖥 Online – Log in to your Wells Fargo account online at www.wellsfargo.com, select the “Account Services” tab, and click on “Report Lost or Stolen Card” under the “Card Services” section. Follow the prompts to cancel your lost or stolen debit card.
  2. 📞 Phone – Call the Wells Fargo customer service number at 1-800-869-3557 and follow the prompts to report a lost or stolen card. A customer service representative will assist you with cancelling the card.
  3. 🏦 Branch – Visit a Wells Fargo branch and speak with a banker to report your lost or stolen card. They will assist you with cancelling the card and ordering a replacement.

When cancelling your lost or stolen Wells Fargo debit card, be sure to provide any requested information to verify your identity, such as your account number, social security number, and other personal information. Once you have cancelled your card, Wells Fargo will block any further transactions on the card and send you a replacement card within 5-7 business days. It’s important to monitor your account for any unauthorized transactions and report them to Wells Fargo as soon as possible.

Online Replacement

Follow these simple steps to request your replacement card.

  1. Log in to your Wells Fargo account online at www.wellsfargo.com.
  2. Once you are logged in, navigate to the “Account Services” tab.
  3. Under the “Account Services” tab, select “Request a Card” from the drop-down menu.
  4. On the “Request a Card” page, select the account for which you need a replacement card.
  5. Next, select the reason why you need a replacement card from the drop-down menu. You can choose from options like “Lost or Stolen” or “Damaged.”
  6. Enter the cardholder’s name and the last four digits of the lost or damaged card.
  7. If necessary, update the mailing address where you want the new card to be sent.
  8. Review and confirm the information you entered, and then submit your request.

Once your request is submitted, Wells Fargo will process it, and your new card will be mailed to you within 5-7 business days. If you need your new card sooner, you may be able to request expedited shipping for an additional fee. You can check the status of your card replacement request by logging in to your account and checking the “Account Services” section.

Over the Phone Replacement

If you’d rather speak to a Wells Fargo representative to handle your lost or stolen debit card, you can do so by calling the Wells Fargo customer service number. Here’s how:

  1. Dial the Wells Fargo customer service number at 1-800-869-3557.
  2. Listen to the prompts and select the option for “Lost or Stolen Card” or “Replace Card.”
  3. Enter or speak your Wells Fargo account number or social security number when prompted.
  4. Confirm your identity by providing any other requested information, such as your name, address, and date of birth.
  5. Follow the prompts to request a replacement debit card.
  6. If necessary, verify your mailing address where you want the new card to be sent.
  7. Confirm your request with the customer service representative or automated system.

Once your request is submitted, Wells Fargo will process it, and your new card will be mailed to you within 5-7 business days. If you need your new card sooner, you may be able to request expedited shipping for an additional fee ($16.00).

You can also check the status of your card replacement request by logging in to your account online or contacting customer service again.

In Branch Replacement

As we noted earlier, another other option for obtaining your new replacement card would be to stop by a local Wells Fargo branch. If you’d prefer to go this route then follow these steps:

  1. Find a Wells Fargo branch near you by using the “Locations” tool on the Wells Fargo website.
  2. Bring valid identification, such as a driver’s license or passport, and your Wells Fargo account number with you to the branch.
  3. Once you arrive at the branch, approach a banker and explain that you need a replacement debit card.
  4. Provide the banker with your identification and account number, and answer any security questions they may have to verify your identity.
  5. Let the banker know if you want your new card to have any special features, such as a custom design or a chip for added security.
  6. The banker will order a replacement card for you, and you will receive it in the mail within 5-7 business days.
  7. If you need your new card sooner, you may be able to request an instant issue card, which can be printed and activated on the spot for a fee.

Once you receive your new Wells Fargo debit card, be sure to activate it and update any recurring payments or automatic debits with the new card information.

Cost of Wells Fargo Debit Card Replacement

Fortunately, there is no fee for replacing your lost or stolen debit card (unless you opt for rush delivery). And you have three options for obtaining it:

  1. The first and quickest option is to go to a local Wells Fargo branch and have them print you out an instant debit card on the spot.
  2. The second would be to wait for one to arrive in the mail, but it will take 5-7 calendar days for it to arrive.
  3. The third would be to pay to have it rush ordered. This cost $16.00 and will take just 3 business days to arrive.

Final Thoughts

There are multiple avenues to take when replacing your Wells Fargo debit card with the best option being to go to a local branch and have them print out a replacement card that same day.

If you’re going to be without a debit card for a few days while Wells Fargo replaces it, just be sure to arrange for payments that need to be made during this period that we’re tied to your old card.

Gesa Credit Union – Deposit Account Rates and Review

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image credit: gesa.com

Gesa Credit Union, based out of Richland, Washington, was originally founded in 1953 in a part-time office.

In 1996 they began opening their doors to residents through the state of Washington which is when they experienced major growth. Today, they have over 260,000 members and are the 2nd largest credit union in the state behind BECU (Boeing Employees Credit Union).

Gesa offers a number of NCUA-insured (FDIC equivalent for credit unions) deposit accounts which we’ll cover in this review. These are:

  • 3 Checking Accounts – SmartChecking, SmartPlus Checking and Student Checking.
  • 2 Savings Accounts – SmartPlus Savings and the Explore Youth Savings.
  • 1 Money Market Account – Varying yields by balance amount.
  • 10 CDs (Certificates of Deposit) – Terms ranging from 3 months to 7 years.
  • 5 “Bump CDs” – Allow for one rate bump during the term. Terms from 12 months to 5 years.

Gesa Credit Union’s CDs are also available as IRA CDs. This applies to both their standard certificates and their Bump CDs.

To see if Gesa Credit Union’s deposit accounts are right for you, continue reading our review below.

Checking Accounts

30+ designs to choose from!

As mentioned Gesa offers 3 checking accounts to choose from. All 3 of these accounts offer the following features:

  • Debit card with over 30 designs to choose from.
  • Access to over 70k surcharge free ATMs. See locations here.
  • No monthly maintenance fees.
  • Online and mobile banking.
  • Early direct deposits. Get paid up to 2 days early.
  • Round-up transactions to the nearest dollar and have the remainder automatically transferred to your Gesa Savings account to earn up to 5.00% APY (annual percentage yield).
  • Overdraft protection. 3 options available. Call (888) 946-4372 for more information.
  • Card Controls. Turn cards on/off and set up notifications for purchases over a certain amount, foreign transactions, etc.

SmartChecking

The SmartChecking account is a great secondary checking account option – especially for those without a social security number or TIN number.

The account can be opened online with a minimum deposit of just $25 or in a local branch with no minimum deposit requirement.

SmartPlus Checking

The SmartPlus Checking account also comes with a minimum deposit requirement of just $25 or $0 if opened in a local branch. It also comes with some noteworthy features if you can meet certain criteria.

The features are an APY of 5.00% on balances up to $5,000 and unlimited domestic ATM fee refunds.

In order to be eligible for these features you must meet the following criteria:

  • Enroll in eStatements
  • Make a monthly direct deposit of over $200
  • Complete 15 debit card transactions

You’ll also need to provide and maintain a valid email address. Limited to 1 account per member.

If criteria isn’t met then an APY of just 0.01% will be applied to your balance.

Student Checking

The Student Checking account is geared towards teens age 14 to 18. The account comes with a free debit card and only requires $5.00 to open.

It also earns an APY of 5.00%, but only on balances up to $500. Amounts above $500 will only earn 0.01% APY.

The good news is that there is no criteria to meet in order to earn the APY.

Savings Accounts

Like the checking accounts, both savings accounts offered by Gesa Credit Union are eligible for a Gesa Visa debit card and access to the network of over 70,000 ATMs. You’ll also have the same card control features and online banking features as you would with the checking account options.

SmartPlus Savings

The SmartPlus Savings account by Gesa earns 5.00% APY on the first $500 followed by 0.01% APY on balances above that amount.

You’ll have to provide a valid email and enroll in e-statements to earn the advertised APY otherwise the account balance will only earn 0.01% APY.

Interest is both compounded and credited to your account monthly. $5.00 from this account can also qualify for your Gesa membership. Typically this would have to reside in its own member share savings account to establish ownership in the credit union – since credit unions are member-owned financial institutions.

You’ll also need to open the account with a minimum deposit of at least $5.00

Explore Youth Savings

The Explore Youth Savings account by Gesa is available for kids up to 13 years old. The account also earns 5.00% APY on balances up to $500 with 0.05% APY on balances above that amount.

💰 BONUS! – Gesa will match deposits made into this account (either in branch or through mobile check deposit) up to $25. That’s a free $25 just for adding money to the account.

🎓 Super Student Incentive – Bring in your student’s report card and Gesa will deposit $5.00 into your child’s account. You are eligible for 4 of these per year (1 per season – Fall, Winter, Spring, Summer).

Money Market Account

Gesa Credit Union offers a money market account with varying yields based on your balance. It requires a minimum daily balance of at least $2,500 to earn the advertised rate.

Gesa also notes that new rates are set and posted each month.

Money Market Rates

BalanceAPY
$2,500 – $9,999.990.10%
$10k – $24,999.990.15%
$25k – $49,999.990.20%
$50k – $99,999.990.22%
$100k – $249,999.990.27%
$250k +0.30%
APY = Annual Percentage Yield

To put these yields into perspective, the national average for a money market account sits at 0.39% APY, according to FDIC data, however, there are a handful of accounts paying over the 4.00% APY mark on all balances following the FED’s latest rate hike.

Interest is compounded daily and credited to your account monthly.

CD Rates + Account Details

Gesa Credit Union offers 10 standard CDs with terms ranging from 3 months to 5 years and 5 bump CDs with terms ranging from 1 – 5 years. These CDs can be opened in IRAs as well and carry the same yield.

Yields are tiered by deposit size. The tiers are as follows:

  • $500 – $49,999.99
  • $50,000 – $99,999.99
  • $100,000 +

All CDs with Gesa come with a minimum deposit requirement of $500.

CD Rates

TermMin. DepositAPY
3 months$5000.20%
3 months$50,0000.20%
3 months$100,0000.20%
6 months$5000.40%
6 months$50,0000.45%
6 months$100,0000.50%
12 months$5000.75%
12 months$50,0000.80%
12 months$100,0000.85%
18 months$5000.90%
18 months$50,0000.95%
18 months$100,0001.00%
24 months$5000.95%
24 months$50,0001.00%
24 months$100,0001.05%
30 months$5001.00%
30 months$50,0001.05%
30 months$100,0001.10%
36 months$5001.05%
36 months$50,0001.15%
36 months$100,0001.25%
48 months$5001.30%
48 months$50,0001.40%
48 months$100,0001.50%
60 months$5001.80%
60 months$50,0001.90%
60 months$100,0002.00%
84 months$5002.00%
84 months$50,0002.35%
84 months$100,0002.50%
APY = Annual Percentage Yield

To put these yields into perspective the current national average for 12 month and 60 month CDs sit at 1.07% and 1.09% APY, according to the FDIC, however there are a number of institutions paying over the 4.25% and 4.50% APY mark for the same respective terms.

Bump CD Rates

Want to take advantage of a rising interest rate environment?

Bump CDs like these offered by Gesa Credit Union allow for one rate bump during the life of the CD. So if rates rise during your CD’s term, you can opt for one rate bump to the new APY.

TermMin. DepositAPY
1 year$5000.75%
1 year$50,0000.80%
1 year$100,0000.85%
2 years$5000.95%
2 years$50,0001.00%
2 years$100,0001.05%
3 years$5001.05%
3 years$50,0001.15%
3 years$100,0001.25%
4 years$5001.30%
4 years$50,0001.40%
4 years$100,0001.50%
5 years$5001.80%
5 years$50,0001.90%
5 years$100,0002.00%
APY = Annual Percentage Yield

Grace Period and Early Withdrawal Fees

Gesa will notify you before your CD matures. Upon maturity you will have a 10 calendar-day grace period in which you may modify your CD or close it out entirely. If nothing is done during this grace period your CD will automatically renew with the same term and the going APY at that time.

If you need funds prior to your CD’s maturity you will face an early withdrawal fee. The fee structure with Gesa Credit Union is as follows:

CD TermEarly Withdrawal Fee
less than 12 months90 days interest on the amount withdrawn subject to penalty
12 mo – less than 36 mo180 days interest on the amount withdrawn subject to penalty
36 mo – less than 48 mo365 days interest on the amount withdrawn subject to penalty
48 months or more540 days interest on the amount withdrawn subject to penalty

Chime Savings Account – Now up to 2.00% APY!

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Chime is an online-only financial technology company that has partnered with two banks – Stride Bank and The Bancorp Bank – to offer consumers both a checking account and a savings account.

As a fintech company, Chime relies on Stride Bank and The Bancorp Bank for things like FDIC insurance and to comply with all applicable banking laws and regulations in general.

To see if a Chime checking account or Chime savings account is right for you, continue reading our review below.

Chime Savings Account

The Chime Savings account is only available to consumers that have first opened the Chime checking account. Like the checking account, the savings account has no monthly maintenance fees and no minimum deposit or balance requirements.

You can also set up automatic savings features. Chime currently offers 2 of these – Round Ups and Save When I Get Paid.

Round Ups automatically round up each transaction you make with your Visa debit card to the nearest dollar, depositing the change into your savings account.

Save When I Get Paid lets you automatically transfer 10% of your direct deposit of $500 or more into your Chime Savings account.

Chime Savings Account Rate

Min BalanceAPY
$02.00%
APY = Annual Percentage Yield

To put this yield into perspective, the national average for a money market account and a savings account sit at just 0.38% APY and 0.30% APY, respectively, according to FDIC data.

That said, there are a number of FDIC-insured online banks and credit unions with nationwide acceptance offering online savings accounts and money market accounts with rates over 4.00% APY following the FED’s latest 0.50% rate hike on December 14th.

This is a variable rate that is subject to change at any time without notice.

All deposits are FDIC-insured up to the applicable limits through Chime’s banking partners.

Chime Checking Account

image credit: chime.com

The Chime checking account comes with a free visa debit card and has no minimum deposit requirements or daily balance requirements to open and maintain the account. It also has no monthly maintenance fees of any kind.

✅ Checking Account Features:

  • Free Visa Debit Card with EMV chip technology
  • Access to over 60,000+ fee-free ATMs via Allpoint. These ATMs are at popular retail stores like Walgreens, CVS, 7-Eleven, and Target.
  • Get direct deposits up to 2 days early.
  • Get fee-free overdraft with SpotMe. Eligibility requirements apply. See below for more details.
  • No credit check required.
  • Automatic savings features.

To enable overdraft protection with SpotMe you must first set up a recurring direct deposit of at least $200 each month. This will initially allow for overdrafts of up to $20 in either cash withdrawals or spending. This $20 amount could go up to $200 or more based on your history with Chime and your direct deposit amounts and frequency each month.

🛑 Checking Account Drawbacks:

  • No physical bank locations or branches.
  • $2.50/transaction for out of network ATM usage.
  • Must deposit checks using 3rd party locations unless you have had at least 1 direct deposit of $1 or more from an employer, gov benefits, or gig economy work. This direct deposit unlocks the Mobile Check Deposit feature.

Frequently Asked Questions

Still have questions about the Chime Checking or Chime Savings account? See what other consumers are asking as well as our responses below.

How to Open the Chime Spending Account?

You can open a new account in under 2 minutes. Visit Chime.com and enter in all your relevant personal information. You must be at least 18 years old to open an account.

Once you’re enrolled Chime will send you your Visa Debit Card. This typically arrives in 7-10 business days.

How to Add Funds to my Chime Spending Account?

You can add funds via:

  • Direct Deposit
  • ACH transfer from your current bank or credit union using your Chime account number and Chime routing number: 103100195
  • Cash Deposits at Allpoint locations.
  • Mobile Check Deposits. Available to account holders who have set up and received at least one direct deposit. Available 30 days after direct deposit.

Is Chime Legit?

Chime is a fintech company that has partnered with two banks – Stride Bank and The Bancorp Bank – to provide banking services to consumers. If Chime fails as a company, your funds are federally insured by the FDIC through Stride Bank and The Bancorp Bank.

FNBO Direct Review – Up to 3.75% APY!

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FNBO Direct is a division of First National Bank of Omaha that launched in 2006 with their online savings account that paid an APY (annual percentage yield) of 5.25% APY at the time. In honor of First National Bank of Omaha’s 150th year anniversary the following year in 2007, FNBO Direct bumped-up their online savings account rate to 6.00% APY and held it there for 150 days.

Today, while interest rates are again heating up to levels not seen since FNBO Direct’s inception, their online savings account rate is much lower at 3.75% APY.

Their other deposit account, the online checking account, also pays out an interest rate, but its yield is much lower at 0.15% APY.

That said, as rates in general rise throughout the country we would expect FNBO Direct’s variable-rate online savings account as well as their checking account to rise as well.

Both of these accounts are FDIC-insured and come with no maintenance fees.

To see if this online bank is right for you, continue reading our review below.

Online Savings Account Rate + Details

image credit: fnbodirect.com

All deposits held in an FNBO Direct account are federally insured by the FDIC up to the applicable limits. The FDIC insurance is held by the First National Bank of Omaha.

There is a minimum deposit requirement of just $1.00 to open their online savings account and a maximum balance allowance of $1m.

Savings Account Rate

Min. DepositAPY
$1.003.75%
APY = Annual Percentage Yield

To put this yield into perspective, the current national average for a savings account and a money market account sit at just 0.24% and 0.29% APY, respectively, according to FDIC data.

That said, there are a number of online savings accounts and money market accounts paying above the 3.60% APY mark following the FED’s most recent rate hike of 0.75% on November 2.

UFB Direct’s money market and online savings account both come with one of the highest yields on the market at 3.83% APY per the time of this writing.

Account Features

FNBO Direct’s online savings account comes with many standard features that you’d find with many online savings accounts and a few added benefits that aren’t typical with these types of accounts.

✅ Access and manage your accounts 100% online through FNBODirect.com or their native apps for IOS and Android.

✅ Make digital payments via Apple Pay, Samsung Pay or VISA SRC.

✅ Person to person payments can also be made from the account by using PopMoney. PopMoney service fees breakdown as follows:

  • Standard Transfer Fee: $0.00
  • Next Day Delivery Fees: $10.00
  • Check Issuance Fee (per item): $5.00

Account Drawbacks

🛑 No ATM card with just the savings account. You’ll need to open the checking account for ATM access. Read more about the checking account below.

🛑 Overdraft charges are $20 each and FNBO Direct may issue up to 4 per day. These may occur from automatic bill payments or ACH transfers and recurring payments.

🛑 No physical branches.

Compounding and Crediting Interest

Interest on your FNBO Direct online savings account is both compounded and credited monthly. This is a less frequent compounding schedule than many online savings accounts use which tend to compound interest daily (and credit monthly).

Checking Account Rate + Details

FNBO Direct’s checking account comes with a minimum deposit requirement of just $1.00 and a minimum balance requirement of $0.01 to earn the advertised APY. It also has a maximum balance allowance of $1m.

Min. BalanceAPY
$0.010.15%
APY = Annual Percentage Yield

To put this yield into perspective, the national average for an interest checking account sits at just 0.04% APY according to FDIC data.

Account Features

FNBO Direct’s online checking account come with the following features:

✅ Free VISA debit card for everyday purchases.

✅ Access to 2 million ATMs worldwide with no fees coming from FNBO Direct, however, ATM owners may impose surcharge fees.

✅ Person to person payments can also be made from the account by using PopMoney.

✅ Free debit card fraud monitoring.

✅ No incoming wire charges.

✅ Free stop payments.

Account Drawbacks

🛑 No physical branches and no paper checks.

🛑 Same overdraft charges of $20 each and FNBO Direct may issue up to 4 per day.

Final Thoughts

Although both of FNBO Direct’s accounts come with interest rates that beat the national average by considerable margins, much more competitive yields can be found through other online banks and nationally available credit unions.

The overdraft charges running up to potentially $80 per day is also excessive as many banks and credit unions have opted to forgo overdraft charges altogether.

FAQ

Still have questions regarding FNBO Direct and their two bank accounts?

You may contact them by phone at 877-370-3707 or see what other consumers are asking around the web along with our responses below.

What is FNBO Direct’s Routing Number?

FNBO Direct’s routing number is: 104000016

How do I login to my FNBO Direct Account?

If you know your username and password, you can login here.