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Reviews

Security Service Federal Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Year Established1956
Total Assets$9.6B
LEARN MORE Security Service Federal Credit Union’s secure websiteNCUA Insured

Security Service Federal Credit Union was founded in 1956 to serve members and the families of the U.S. Air Force Security Service Command. It’s since expanded to serve more than 730,000 members. Headquartered in San Antonio, there are branches throughout Texas, Colorado and Utah. Members also get access throughout the U.S through shared branching, more than 30,000 surcharge-free ATMs in the CO-OP network and 600 surcharge-free ATMs at Stripes convenience store locations.

To become a member of the credit union, you’ll need to either live or volunteer in certain areas of Texas, Colorado or Utah. You may also qualify if you’re a member of certain military branches or at the Defense Department. Otherwise, you can become a member if anyone in your household already is one.

This review will focus on the credit union’s checking, savings, CD, money market and IRA products. Some rates differ by location, so we based the information in this review on rates available at branches in the credit union’s headquarters’ 78249 ZIP code.

Security Service Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.10%

Savings

Security Service Federal Credit Union Basic Savings Account

2.10%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

NCUA Insured

1.90%

CD Rates

Security Service Federal Credit Union 1 Year CD

2.60%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

NCUA Insured

2.40%

CD Rates

Security Service Federal Credit Union 3 Year CD

2.90%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

NCUA Insured

Security Service Federal Credit Union checking account options

Power Checking

This is a free checking account that doesn’t earn any interest
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: None for in-network ATMs (including CO-OP and Stripes locations); $1.50 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $32.50

This is a basic checking account best for those looking to avoid fees, though you don’t earn any interest. You get free online and mobile banking, and a debit card. If you choose, you can personalize your debit card with a photo. The only monthly fee you may need to pay is a $3 charge for paper statements.

This checking account also offers the Member Overdraft Privilege program™, a service that covers overdrafts up to $1,000. These transactions include recurring debit card payments, checks and automatic bill payments. You’ll be charged the $32.50 overdraft fee if this service does kick in.

Alternatively, you can link your savings or money market account to have funds automatically transferred in case you don’t have enough money in your checking account. The first three transactions are free each month, but then you’ll need to fork over $2 for each excess transfer.

How to get the Power Checking account

You can open a Power Checking account through an online application form. You’ll need to select which option qualifies you for membership and open a basic savings account with $5 to establish membership. Then, provide details such as your address, Social Security number and employment information. Afterward, you can fund your account.

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Power Protected Checking

You can earn interest with this checking account, along with other perks.
APYMinimum Balance to Earn APY
0.05%
$0
0.40%
$10,000
0.50%
$25,000
0.60%
$50,000
0.75%
$100,000
0.95%
$250,000
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $6 (this can be waived)
  • ATM fee: None for in-network ATMs (including CO-OP and Stripes); $1.50 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $32.50

This checking account is best for those looking for an account that helps to protect their finances and gives cashback rewards. Account holders get identity theft protection, such as credit score tracking, text alerts and ID theft reimbursement up to $25,000. You also get $0.10 cash back for each purchase with your debit card as well as mobile phone coverage — up to $250 — in case you accidentally damage your phone.

This account also comes with the Member Overdraft Privilege program™, which covers up to $1,000 in overdrafts. It includes checks, recurring debit card payments and automatic bill payments. If you opt into this program, you’ll be charged the $32.50 overdraft fee.

Alternatively, you can link your money market or savings account to automatically transfer funds. You don’t need to pay for the first three overdraft transactions in a given month, but if you go over that number, you’ll need to pay $2 for each excess transfer.

Although there is a monthly maintenance fee, you can waive that if you maintain a monthly average balance of $50,000 or more. If you elect to receive e-statements, you’ll avoid the $3 paper statement fee.

How to get the Power Protected Checking account

You can complete an application form online to open an account, where you’ll need to indicate how you qualify for membership and agree to open a basic savings account as well. Then, you’ll need to provide information such as your name, address, employment information and Social Security number. After that, you can fund the account.

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Power Youth Checking

Teens 13 to 17 can open this account to establish membership.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: None for in-network ATMs (including CO-OP and Stripes); $1.50 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: N/A

This account is meant for anyone between the ages of 13 to 17 who wants to get a head start on managing their money. Account holders don’t earn any interest, but you’ll get free paper or electronic statements, and both online and mobile banking access. You can also personalize a debit card with a photo of your choosing.

Once the account holder turns 18, you’ll receive a notice that the account will be converted to a Power Protected Checking account.

How to get the Power Youth Checking account

A parent or legal guardian needs to be a joint owner on the account. Your child also needs to open a youth savings account and indicate before filling an online application form how they qualify for membership (if you’re already a member, this counts). Then, you’ll need to provide details such as your name, address and Social Security number, and fund the account.

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How Security Service Federal Credit Union’s checking accounts compare

Although the Power Protected Checking account does offer some decent rates when compared with our list of the 10 best online checking accounts, it requires a high account balance minimum in order to get those rates. Also, you’re stuck with a maintenance fee unless you can maintain the balance amount required to waive it. Sure, it’s pretty cool that you can get a personalized debit card, but that perk isn’t worth it considering there are much higher rates out there, plus many of these online banks also offer free checks and no fees.

Security Service Federal Credit Union savings account options

Basic Savings account

Everyone needs to open this account to establish membership.
APYMinimum Balance to Earn APY
0.10%
$5
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: $3 (this can be waived)
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This is a required account to establish membership with the credit union. As long as you maintain a minimum balance of $100, you can waive the monthly maintenance fee. The fee is also waived if the primary account holder is 65 or older, has a loan with the credit union or a Power or Power Protected Checking account. If you link your Basic Savings account to a checking account, you can use it as overdraft protection and get ATM access. Although you do get unlimited ATM access, you are allowed up to six certain withdrawals/transfers per month for other types of transactions as mandated by Federal Reserve Regulation D. Otherwise, you’ll be charged $10 for each excessive transaction. You can also be charged $2 per withdrawal if you make more than four over the counter.

How to get the Basic Savings account

To open an account, head over to the credit union’s website and fill out an online application form. You’ll need to choose how you can quality for membership then fill in your personal details such as your name, address, employment information and Social Security number. Then, you can fund your account.

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Club Savings account

Achieve your short-term savings goals, but you may be better off with a CD account.
APYMinimum Balance to Earn APY
0.10%
$5
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The Club Savings account is meant to help you set aside money for a specific purpose or a short-term savings goal. You can make as many deposits as you want. You’re limited to transferring funds on Oct. 31.

If you take out money before Oct. 31, you’ll forfeit all the interest you would have earned that month, plus Security Service Federal Credit Union will close the account.

How to get the Club Savings account

You’ll need to open a Basic Savings account to establish membership if you want to open a Club Savings account. Head to the credit union’s online application form and indicate how you qualify for membership, then fill in your personal details such as your name, address, employment information and Social Security number. Then, you can fund both your accounts.

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Youth Savings account

Anyone under age 18 will need this account to establish membership.
APYMinimum Balance to Earn APY
0.10%
$5
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This is a required account for anyone under the age of 18 to establish membership with the credit union. Those ages 13 to 17 can link to the youth checking account. Parents or legal guardians need to be a joint owner and will have complete access to the account. Once the child turns 18, the account will be converted to a Basic Savings account.

Since this is a savings account, Federal Reserve Regulation D states that you are allowed to make a maximum of six debits per month. If you go over that amount, Security Service Federal Credit Union will charge a $10 excess transfer fee per withdrawal, or $2 each if you make more than four withdrawals in person.

How to get the Youth Savings account

You and your child will need to open an account together by filling out an online application form. First, indicate how your child qualifies for membership and then provide details such as both your names, address and Social Security number. Once completed, you can fund the account.

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How Security Service Federal Credit Union’s savings accounts compare

The basic savings account for the credit union falls way short when compared with other options offered online. Most of these account have no minimum balances or fees. If you’re looking to maximize your savings with a higher APY, you’re better off looking at our list of the current best online saving accounts.

Security Service Federal Credit Union CD rates

Traditional certificates

Earn competitive rates the more you deposit into the CD.
$500 opening deposit
TermAPY
3 months0.55%
6 months1.30%
1 year1.90%
15 months2.65%
2 years2.40%
30 months2.90%
3 years2.40%
5 years2.90%
7 years3.15%
$25,000 opening deposit
TermAPY
3 months0.60%
6 months1.35%
1 year1.95%
15 months2.70%
2 years2.45%
30 months2.95%
3 years2.45%
5 years2.95%
7 years3.20%
$50,000 opening deposit
TermAPY
3 months0.65%
6 months1.40%
1 year2.00%
15 months2.75%
2 years2.50%
30 months3.00%
3 years2.50%
5 years3.00%
7 years3.25%
$100,000 opening deposit
TermAPY
3 months0.65%
6 months1.40%
1 year2.00%
15 months2.75%
2 years2.50%
30 months3.00%
3 years2.50%
5 years3.00%
7 years3.25%
  • Minimum opening deposit: $500 – $100,000
  • Minimum balance amount to earn APY: Tiered – see tables above
  • Early withdrawal penalty: Depends on length of term:
  • 1 year or less — 90 days’ of interest or 30 days if your CD has earned less than 30 days’ of interest
  • Less than 5 years — 180 days’ of interest or 60 days’ of interest if the CD has earned less than 60 days’ interest
  • 5 years or more — 360 days’ of interest or 90 days’ of interest if the CD has earned less than 90 days’ interest

These fixed-rate CDs are best for those looking for a conservative investment vehicle as you’re guaranteed the above rates as long as you keep the funds in the CD for the agreed term. These CDs are also best for those looking to take out a secured loan, as the credit union allows you to use the CD balance as collateral. Interest is compounded daily and credited to your account monthly. You can choose to have interest earned transferred to another account or kept in the CD.

The credit union will send you a notice 20 days before your CD matures. When it does, you have a seven-day grace period where you can withdraw funds, make additional deposits or renew for another term. Otherwise, it’ll automatically be renewed.

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Future Builder Share Certificate

This CD allows you to make additional deposits and withdrawals before maturity.
TermAPYMinimum opening deposit amount
1 year1.40%
$250
1 year1.45%
$25,000
1 year1.50%
$50,000
1 year1.50%
$100,000
  • Minimum opening deposit: $250 – $100,000
  • Minimum balance amount to earn APY: Tiered – see table above
  • Early withdrawal penalty: Applies to those who withdraw more than 50% of CD balances. The penalty is 90 days’ of interest or 30 days’ of interest if the CD earned less than 30 days’ of interest.

This CD is best for those who want a conservative investment account with some liquidity. Unlike the traditional CD, a Future Builder Share Certificate allows unlimited deposits up until the last seven days before your account matures. You can also make make withdrawals up to 50% of your account balance per day and as long as you keep at least $250 in the account.

Interest is compounded daily and credited monthly. You can choose to keep interest earned in the account or transferred to another account. Like the traditional certificate, you can also use the CD balance as collateral in a secured loan with the credit union.

You’ll receive a notice 20 days before your CD matures. Once it does, you’ll have a seven-day grace period in which you can renew for another term, make additional deposits or withdrawals. Otherwise, the CD will automatically be renewed.

How to get Security Service Federal Credit Union’s CDs

Opening a Security Service Federal Credit Union CD first requires you to establish membership with a Basic Savings account. Both accounts can be opened with an online application form where you’ll indicate your membership qualifications, then provide personal details such as your name, address, employment information and Social Security number. Once that’s done, you can fund both accounts.

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How Security Service Federal Credit Union’s CD rates compare

Security Service Federal Credit Union’s CD rates are pretty much on par with what’s being offered out there. The minimum deposit amount is lower than what’s currently being required by some of the banks on our list of the best CD rates.

In addition, the Future Builder Share Certificate is unique in that it gives account holders the opportunity to make additional deposits or withdrawals before maturity. The rate is slightly lower, but it could be worth it if you value the flexibility.

Security Service Federal Credit Union money market account option

Security Service Money Market account

You won’t earn a high rate with this account.
APYMinimum Balance to Earn APY
0.30%
$0
0.30%
$10,000
0.40%
$25,000
0.45%
$50,000
0.60%
$100,000
0.85%
$250,000
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $0
  • Monthly account maintenance fee: $10 (this can be waived)
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The Security Service Money Market account is best for those who want a bit more flexibility than a savings account as it offers limited check-writing capabilities. You can also access your cash via ACH transfer. In order the avoid the monthly maintenance fee, you’ll need to maintain a minimum daily account balance of $1,000.

Since this is considered a savings account, Federal Reserve Regulation D states that you are allowed up to six certain debits a month. If you go over this, you’ll be charged a $10 fee on each excess related transaction. Your account may be closed if you keep exceeding the transaction limit.

How to get Security Service Federal Credit Union’s Money Market account

You need to become a member in order to open the credit union’s money market account. To do so, fill out an online application form and indicate how you qualify, and agree to open a basic savings account to establish membership. Next, you’ll need provide information such as your name, address and Social Security number. Then, you can fund your accounts.

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How Security Service Federal Credit Union’s money market account compares

The rates for the Security Service Federal Credit Union Money Market account isn’t anywhere near the rates we’re seeing on our list of the best money market rates. Many of its competitors don’t have minimum opening deposits and some even offer limited ATM and check-writing access. If you’re after a flexible money market account that offers better rates, you’re better off going elsewhere.

Security Service Federal Credit Union IRA options

IRA CD rates

Fixed-rate IRA certificates

Earn some decent rates with this retirement account.
$500 opening deposit
TermAPY
3 months0.55%
6 months1.30%
1 year1.90%
15 months2.65%
2 years2.40%
30 months2.90%
3 years2.40%
5 years2.90%
7 years3.15%
$25,000 opening deposit
TermAPY
3 months0.60%
6 months1.35%
1 year1.95%
15 months2.70%
2 years2.45%
30 months2.95%
3 years2.45%
5 years2.95%
7 years3.20%
$50,000 opening deposit
TermAPY
3 months0.65%
6 months1.40%
1 year2.00%
15 months2.75%
2 years2.50%
30 months3.00%
3 years2.50%
5 years3.00%
7 years3.25%
$100,000 opening deposit
TermAPY
3 months0.65%
6 months1.40%
1 year2.00%
15 months2.75%
2 years2.50%
30 months3.00%
3 years2.50%
5 years3.00%
7 years3.25%
  • Minimum opening deposit: $500 – $100,000
  • Minimum balance amount to earn APY: Tiered – see tables above
  • Early withdrawal penalty: Depends on length of term:
    • 1 year or less — 90 days’ of interest or 30 days’ of interest if your CD has earned less than 30 days’ of interest
    • Less than 5 years — 180 days’ of interest or 60 days’ of interest if the CD has earned less than 60 days’ of interest
    • 5 years or more — 360 days’ of interest or 90 days’ of interest if the CD has earned less than 90 days’ of interest

This IRA CD is best for those looking for a guaranteed rate of return on their cash. As long as you keep your money in for the agreed term, you’ll earn the advertised rate. Interest is compounded daily and paid out each month. Interest earned can be kept in the IRA CD or transferred to another account, though you may be limited by the IRS as to whether or not you can. In this case it’s best to consult a representative at the credit union or a tax professional for guidance.

You’ll receive a 20-day notice before the CD matures. Once it does, account holders receive a seven-day grace period to make additional deposits, withdrawals or renew for another term. Otherwise, it’ll be renewed automatically.

How to get Security Service Federal Credit Union’s IRA CDs

You’ll need to first establish membership by selecting how you qualify on its online application form. You’ll also need to open a basic savings account with $5 to complete the membership process. The form will ask you to fill in your personal details like your name, address and Social Security number. Then, select the CD term (it’ll be for a regular traditional certificate initially) and fund the savings and CD account. Afterward, send a secure message in your account to let the credit union know that you want to open a fixed-rate IRA certificate.

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How Security Service Federal Credit Union’s IRA CD rates compare

The rates for the IRA CD are slightly lower than what’s being currently offered out there. While some of the banks and credit unions on our list of the best IRA CD rates require a higher minimum opening deposit, the rates could be worth it. If you’re looking to maximize your retirement savings, you may be better off shopping around.

IRA savings account

It’s not the best rate.
APYMinimum Balance to Earn APY
0.40%
$5
  • Minimum opening deposit: $100
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: $10
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This savings account is best for those wanting a more flexible option than an IRA CD, as you can make withdrawals at any time. However, you’re allowed up to six specific debits a month as mandated by Federal Reserve Regulation D. You may also face IRS penalties if you’re younger than 59½, so check the rules and regulations.

How to get Security Service Federal Credit Union’s IRA savings account

You can only apply for an IRA savings account by calling customer service at 1-888-415-7878.

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Overall review of Security Service Federal Credit Union’s banking products

Security Service Federal Credit Union offers some competitive CD rates along with the ability to make withdrawals before maturity through the Future Builder Share Certificate. Otherwise, the other accounts don’t really stand out.

Another shortcoming is that in order to open any account, you need to become a member by opening a savings account, as is typically the case with a credit union. Yes, it only requires a $5 opening deposit, but you’ll be charged a monthly maintenance fee if you don’t meet the minimum deposit amounts. If that’s a turnoff for you, then it’s probably a better idea to look elsewhere.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Sarah Li Cain
Sarah Li Cain |

Sarah Li Cain is a writer at MagnifyMoney. You can email Sarah Li here

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Reviews

AAA Banking Review: Checking, Savings, CD, Money Market and IRA Accounts

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Year Established1999
Total Assets$0.5B
LEARN MORE AAA Banking’s secure websiteMember FDIC

AAA may be known as a membership service providing roadside assistance and other travel-related services. But it also offers financial services through AAA Banking. And you do not need to be one of its 50 million-plus members to open a deposit account.

Not all products are available nationwide, and rates may vary by region. We based the rates in this review on the 48126 ZIP code for Dearborn, Mich. — where AAA Banking is headquartered.

AAA Banking’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

1.85%

Savings

AAA Banking High-Yield Savings

2.10%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

2.45%

CD Rates

AAA Banking 12 Month CD

2.60%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.45%

CD Rates

AAA Banking 3 Year CD

2.90%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

AAA Banking checking account options

Personal Checking

This is AAA Banking’s basic checking account. There are no monthly fees, and you’ll receive up to three ATM refunds a month.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: $3 for out-of-network ATMs
  • ATM fee refunds: Up to three a month
  • Overdraft fee: $33

If you’re looking for a basic, low-cost checking account, this one might be a good choice. You don’t earn interest, but you don’t need to maintain a minimum balance, nor are there monthly maintenance fees. The bonus is that you get up to three domestic ATM refunds a month, as well as access to surcharge-free ATMs throughout the Accel network.

Other features include a Mastercard® debit card, online or paper statements, and mobile and online banking. You also have access to Popmoney®, a payment system that lets you send money to anyone in the U.S. with a valid mobile number or email address.

How to get the Personal Checking account

Opening an account online can take about 10 minutes. Before filling out an online application, you’ll need to indicate your location by entering your ZIP code. Then you’ll need to provide personal details such as your name, address and Social Security number. Afterward, you’ll fund your account.

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High-Yield Checking

This account offers a high rate, plus no monthly fees and unlimited ATM refunds, if you meet certain qualifications.
APYMinimum Balance to Earn APY
2.85%$0.01 (exceptions apply)
0.05%Over $10,000, or if qualifications aren’t met
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: None
  • ATM fee: None (you’ll need to meet certain qualifications)
  • ATM fee refunds: Unlimited (you’ll need to meet certain qualifications)
  • Overdraft fee: $33

This is a great account for those looking to maximize their savings and who plan on using the ATM often. To qualify for the advertised APY and receive unlimited ATM refunds, you’ll need to make at least 12 debit card purchases worth $5 or more, enroll in e-statements and make at least one automatic payment or direct deposit of at least $200. Otherwise, your rate will go down to 0.05% APY.

Other features of the account include a free Mastercard® debit card, bill pay, access to Popmoney®, and online and mobile banking.

How to get the High-Yield Checking account

You can fill out an online application in as little as 10 minutes. First, indicate your location by entering your ZIP code, then fill in personal details such as your name, address and Social Security number. Afterward, fund your account.

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How AAA Banking’s checking accounts compare

AAA Banking’s High-Yield Checking account has one of the highest rates we’ve seen, and there are some pretty great ones on our list of the best online checking accounts. There are no fees, and you’ll have unlimited ATM refunds as long as you can meet certain qualifications. But if you do not qualify for these perks, you may want to shop around — though you could be sacrificing a great rate.

AAA Banking savings account options

Personal Savings

For higher rates, you’re probably better off getting the High-Yield Checking account. But this account doesn’t have a minimum balance amount or monthly maintenance fees.
APYMinimum Balance to Earn APY
0.05%None
0.12%$1,500
0.16%$5,000
0.25%$15,000
0.40%$40,000
  • Minimum opening deposit: $25
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: None
  • ATM fee: $3 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: None

The rates for the Personal Savings account aren’t great compared to the High-Yield Checking account, but it could be useful if you want overdraft protection. You get an ATM card and can deposit your cash via a wire transfer, as well as online and mobile banking. Account holders get access to surcharge-free ATMs throughout the Accel network.

As per Regulation D, savings accounts are allowed up to six certain withdrawals a month. AAA Banking will charge you $5 for each withdrawal after that.

How to get the Personal Savings account

You can complete the application process in as little as 10 minutes online. Head over to AAA Banking’s application and enter your ZIP code, then fill in your personal details such as your name, address and Social Security number. Then you can fund the account.

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High-Yield Savings

Requires a low minimum balance to earn the advertised APY. But you don’t get any ATM refunds, and there is a potential monthly maintenance fee.
APYMinimum Balance to Earn APY
1.85%$100
  • Minimum opening deposit: $100
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $5 (this can be waived)
  • ATM fee: $3 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: None

If you intend on stashing money away for a rainy day, this could be the account for you. First, the rate is pretty decent, and you could waive the monthly fee by maintaining a $100 minimum daily balance.

This savings account also gives you an ATM card, as well as access to online and mobile banking. You are allowed up to six certain withdrawals a month because of Regulation D. If you go over that amount, you’ll be charged a $10 fee each time by the bank.

How to get the High-Yield Savings account

To open a High-Yield Savings account, head over to AAA Banking’s website and fill out an application. You first need to enter your ZIP code, then personal information such as your name, address and Social Security number. Then you can fund your account.

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How AAA Banking’s savings accounts compare

The High-Yield Savings account offers a rate that’s slightly lower than some of the highest competitors out there. Where this account stands out is that there are low minimum balance requirements, as well as a lot of surcharge-free ATMs across the U.S.

This is a decent account, but if you want even more competitive rates, check out our list of the best online savings accounts.

AAA Banking CD rates

Certificates of deposit

The rates aren’t too shabby — and the minimum opening deposit is $1,500.
TermAPY
3 months0.75%
6 months1.00%
9 months1.25%
12 months2.45%
13 months2.20%
18 months2.45%
2 years2.45%
25 months2.45%
30 months2.45%
3 years2.45%
4 years2.45%
5 years2.45%
7 years3.00%
10 years3.10%
  • Minimum opening deposit: $1,500
  • Minimum balance amount to earn APY: $1,500
  • Early withdrawal penalty: Depends on length of term (you’ll be charged on the amount withdrawn):
    • Less than 12 months: 3 months’ worth of simple interest
    • 12-35 months: Six months’ worth of simple interest
    • 36-48 months: 12 months’ worth of simple interest
    • 49-83 months: 18 months’ worth of simple interest
    • 84 months and up: 24 months’ worth of simple interest

This is a fixed-rate CD that’s best for those who have money lying around that they want to set aside for savings. The interest you earn is compounded daily and deposited into your account annually, or when it matures. You can access your account information anytime by logging in online or via the bank’s mobile app.

Advertised rates are higher than the national average. There is a wide range of options offered, so you can choose a short-term or long-term CD. When your account matures, you have a 10-day grace period in which you can make changes such as additional deposits or withdrawals, as well as renew for another term. If your maturity date falls on a Sunday, AAA Banking will extend your grace period by one day. Otherwise, your account will automatically be renewed.

How to get AAA Banking’s CDs

Completing the application process to open an AAA Banking CD can take as little as 10 minutes. First, head to their online application and enter your ZIP code, then provide your name, address and Social Security number. Afterward, fund your account.

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How AAA Banking’s CD rates compare

AAA Banking’s CDs are pretty comparable to other competitors. Its minimum opening deposit amount is lower than some of the other ones on our list of the best CD rates, plus it features a wide range of terms. All this to say, these CDs aren’t a bad choice.

AAA Banking money market account options

Money Market

Offers a low opening deposit and ATM access, plus limited check-writing capabilities.
APYMinimum Balance to Earn APY
1.00%$1,500
1.05%$100,000
  • Minimum opening deposit: $100
  • Minimum balance to earn APY: $1,500
  • Monthly account maintenance fee: $9 (this can be waived)
  • ATM fee: $3 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: None

This Money Market account offers the convenience of a checking account while offering a pretty great rate. Account holders also get ATM access and limited check-writing capabilities. It’s not as great as the High-Yield Checking account, but you don’t need to meet any qualifications except for the minimum balance. You can waive the monthly account maintenance fee if you keep an average monthly balance of $1,500.

You can access your cash both online and via mobile app, but remember that you’re allowed up to six certain withdrawals a month because of Regulation D. Otherwise, you’ll need to pay an excessive withdrawal fee of $6 each time.

How to get AAA Banking’s Money Market account

Completing the application process to open an AAA Banking CD can take as little as 10 minutes. First, head to their online application and enter your ZIP code, then provide details such as your name, address and Social Security number. Afterward, fund your account.

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How AAA Banking’s money market accounts compare

Although the rates for AAA Banking’s Money Market account are slightly lower than the ones on our list of the best money market account rates, it’s still a decent account. First, it does have a fairly low minimum deposit amount. Secondly, it offers ATM access and limited check-writing capabilities. Few competitors offer both.

What we’re saying is that this Money Market account is worth considering.

AAA Banking IRA account options

IRA CD

These rates fall flat when compared to what’s being offered elsewhere, though the minimum opening deposit is fairly low.
TermAPY
3 months0.75%
6 months1.00%
9 months1.25%
12 months2.45%
13 months2.20%
18 months2.45%
2 years2.45%
25 months2.45%
30 months2.45%
3 years2.45%
4 years2.45%
5 years2.45%
7 years3.00%
10 years3.10%
  • Minimum opening deposit: $1,500
  • Minimum balance amount to earn APY $1,500
  • Early withdrawal penalty: Depends on length of term (you’ll be charged on the amount withdrawn):
    • Less than 12 months: Three months’ worth of simple interest
    • 12-35 months: 6 months’ worth of simple interest
    • 36-48 months: 12 months’ worth of simple interest
    • 49-83 months: 18 months’ worth of simple interest
    • 84 months and up: 24 months’ worth of simple interest

The IRA CD is a fixed-rate account and is best for those looking for a conservative investment vehicle. Interest earned is compounded daily and deposited into your account annually, or when it matures. You can also access your account by doing so online or via the mobile banking app.

Once your account matures, you have a 10-day grace period in which you can renew for another term, as well as make withdrawals or additional deposits. If your maturity date happens to be on a Sunday, you’ll get an extra day tacked on the grace period. If you do nothing, your account will automatically be renewed.

Since this is a retirement account, you could face IRS penalties — as well as whatever fees AAA Banking will charge — if you make early withdrawals.

How to get AAA Banking’s IRA CDs

You can head to AAA Banking’s website and fill out an application. After entering your ZIP code, you’ll need to provide personal information such as your name, address and Social Security number. Then you’ll fund your account.

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How AAA Banking’s IRA CD rates compare

The IRA CD rates for AAA Banking aren’t that great when compared to what’s being offered out there. While some of the rates are comparable for certain terms, the minimum opening deposit is higher than the ones on our list of the best IRA CD rates. Your best bet is to do some shopping around to find the best deal for you.

IRA Savings

It’s just a basic IRA Savings account. There are no monthly maintenance fees or minimum balance requirements.
APYMinimum Balance to Earn APY
0.40%None
  • Minimum opening deposit: $25
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: None
  • ATM fee: None
  • ATM fee refund: None
  • Overdraft fee: None

The IRA Savings account is best for those looking for a variable rate, and one that isn’t as restrictive as the IRA CD. There is no ATM access, but you can access your account via online or mobile banking. One of the great aspects of this account is that there is no monthly maintenance fee, nor any minimum balance requirements.

Just like other savings accounts, you are allowed to make up to six certain withdrawals a month, as per Regulation D. Otherwise, you’ll need to fork over $6 per excessive withdrawal.

How to get AAA Banking’s IRA savings account

You can open an account in as little as 10 minutes by filling out an online application. First, enter your ZIP code, then provide your personal information such as your name, address and Social Security number. Then fund your account.

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Overall review of AAA Banking’s banking products

AAA Banking offers competitive deposit accounts with high rates and low fees. The High-Yield Savings and High-Yield Checking accounts offer high rates with low minimum balance requirements. Its CD rates are also a good option to consider.

Where the bank falls short are with its IRA accounts. If you’re looking for a great savings or checking account, you can’t go wrong. But if you want the most competitive CD or IRA deposit accounts, you may want to consider other options.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Sarah Li Cain
Sarah Li Cain |

Sarah Li Cain is a writer at MagnifyMoney. You can email Sarah Li here

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Reviews

Fulton Bank Review: Checking, Savings, CD, Money Market and IRA Accounts

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Year Established1882
Total Assets$12.7B
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With more than 250 branches and 300 ATMs across the mid-Atlantic region, Lancaster, Pa..-based Fulton Bank offers a wide range of products and offers a convenient way for customers to open most accounts online. But it only offers to customers living in the vicinity of its brick-and-mortar locations throughout Pennsylvania, New Jersey, Maryland, Delaware and Virginia.

If you meet that residency requirement and you’re looking for competitive CD rates, this is the right place. While some of their deposit accounts aren’t anything spectacular, it may be worth taking a look considering you’re able to open both child and youth accounts.

This review will cover Fulton Bank’s checking, savings, CD, money market and IRA accounts.

Fulton Bank, National Association’s Most Popular Accounts

APY

Account Type

Account Name

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0.02%

Savings

Fulton Bank, National Association Statement Savings

2.10%

American Express National Bank High Yield Savings Account

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0.05%

CD Rates

Fulton Bank, National Association 12 Month Variable Rate CD

2.60%

Goldman Sachs Bank USA High-yield 12 Month CD

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1.35%

CD Rates

Fulton Bank, National Association 36 Month CD

2.90%

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Fulton Bank checking account options

Student checking

This account offers a bunch of free perks, including ATM refunds.
  • Minimum opening deposit: $25 if opened online, none at a branch
  • Monthly account maintenance fee: None
  • ATM fee: $2.50
  • ATM fee refund: Up to 5 per month
  • Overdraft fee: $39 per item

This is one of the few youth accounts that you can open online, though it’s only available to residents in Pennsylvania, New Jersey, Maryland, Delaware and Virginia, aged 16-22.

While it’s unfortunate that this isn’t an interest-bearing account, you do get a bunch of nifty features. There are no monthly maintenance fees, free online bill pay and online and mobile banking. You also get up to five ATM refunds each month and a Relationship Rewards Visa debit card. This card gives you the opportunity to earn rewards to redeem for gift cards or cash back. However, those under 18 will need an adult cosigner to get this account.

How to get the Student Checking account

Head over to Fulton Bank’s online application page and enter in your state of residence and ZIP code to see if you can qualify to open an account. Then you’ll need to prepare personal identifying information such as your address, government-issued ID and Social Security number. You can then fund your account using an external checking account, savings account, a debit card or a credit card.

You can also head to your local branch or call customer service at 1-800-385-8664 to open an account.

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Simply Checking

You don’t need to pay any monthly fees, but you’re not earning any interest either.
  • Minimum opening deposit: None
  • Monthly account maintenance fee: None
  • ATM fee: $2.50 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $39 per item

Fulton Bank claims this is their most popular checking account; perhaps that’s because there are no monthly maintenance fees or minimum balances. You can also link this account to a savings account for overdraft protection. Account holders also get access to online and mobile banking, electronic statements and a Relationship Rewards Visa Debit card. This card helps you earn points for your everyday purchases which then you can redeem for gift cards or cash back.

However, the main shortcoming of this account is that you don’t earn any interest.

How to get the Simply Checking account

First you’ll need to go to Fulton Bank’s online application page and enter in your ZIP code to see if you’re able to open an account. You’ll then proceed to entering your personal details such as your name, address, government-issued ID and Social Security number. Then you can fund your account.

Otherwise, you can call customer service at 1-800-385-8664 or go to your local branch.

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Interest Checking

Despite the name, you’re earning a pittance considering the high minimum balance to get the APY.
APYMinimum Balance to Earn APY
0.02%$1,000
  • Minimum opening deposit: $25 if opening online, none if opening an account in person
  • Monthly account maintenance fee: $10 (this can be waived)
  • ATM fee: $2.50 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $39 per item

Sure, you earn some interest with this account, but it’s such a small amount you’re practically earning nothing. However, there are some convenient features offered with this account, though it’s pretty much the same as the Simply Checking account. You get bill pay, e-statements and online and mobile banking. You also get a free Relationship Rewards Visa Debit card, which gives you the ability to earn points from purchases toward gift cards or cash back.

To waive the monthly maintenance fee, you’ll need to maintain at least $1,000 in your account. Otherwise, you’re paying a pretty hefty monthly maintenance fee.

How to get the Interest Checking account

You can complete an online application form. First, you’ll need to enter in your ZIP code to see if you qualify to open an account. Afterward, you’ll need to provide personal details such as your name, government-issued ID and Social Security number. You can then fund your account using an external account, a debit card or a credit card.

Alternatively you can head to your local branch or call customer service at 1-800-385-8664.

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Prime Life Interest Checking

Get some nifty perks like no ATM fees if you’re 50 and older.
APYMinimum Balance to Earn APY
0.02%$1,000
0.02%$4,999.01
0.02%$9,999.01
  • Minimum opening deposit: None if you open an account in person, $25 if opening an account online
  • Monthly account maintenance fee: None
  • ATM fee: None
  • ATM fee refund: None
  • Overdraft fee: $39 per item

This checking account is for those 50 years and older and comes with better features than the regular Interest Checking account. Although the yield you earn is pennies, you won’t need to pay any ATM charges (though there may be fees from other banks) or monthly maintenance fees. You also get free online and mobile banking and a Relationship Rewards Visa Debit card for points to redeem for gift cards or get cash back.

Account holders also get additional discounts on fees for a safe discount box AND 50% off personal check orders or specialty checks, up to $35.

How to get the Prime Life Interest Checking account

To open an account, head over to Fulton Bank’s website and fill out an online application form. First, you’ll need to indicate your location as only certain residents have the ability to open an account. You’ll also need to enter your personal details such as your name, address, government issued ID and Social Security number. Afterward, fund your account using either an external account, a debit CARD or credit card.

Alternatively, you can open an account at your local branch or by calling customer service at 1-800-385-8664.

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Relationship Banking

This doesn’t make for a meaningful relationship as you’re earning pretty terrible rates and need a high minimum balance to avoid fees.
APYMinimum Balance to Earn APY
0.02%$1,000
0.02%$4,999.01
0.03%$9,999.01
0.03%$24,000.01
  • Minimum opening deposit: $0 if opened at a branch, $25 if opened online
  • Monthly account maintenance fee: $10 (this can be waived)
  • ATM fee: None
  • ATM fee refund: None
  • Overdraft fee: $39 per item

Perhaps the best features of this account are the occasional bonus offers on CDs, no ATM fees and one free order of checks. Otherwise, the rates aren’t great and there is a minimum balance to earn the stated APY. What’s more, to qualify for the special relationship banking benefits, you need to keep a minimum of $15,000 across your deposit accounts, or $20,000 across your deposit and loan balances.

Other than that, you get a free Relationship Rewards Visa debit card, online bill pay and mobile and online banking. To waive the monthly maintenance fee, you’ll need to keep a $2,000 minimum balance in your account.

How to get the Relationship Banking account

Filling out an online application can take as little as 15 minutes from start to finish. Before filling in your personal details, you’ll need to indicate your location by entering in your ZIP code, then enter information such as your name, address, government-issued ID or Social Security number. Then you can fund the account.

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How Fulton Bank’s checking accounts compare

In addition to the fact that their products aren’t available nationwide, Fulton Bank’s rates are extremely low. Other banks and credit unions offer much higher rates, many without fees. Banks on our list of the 10 best online checking accounts even offer unlimited ATM refunds and free checks. Bottom line: You’ll find better checking accounts elsewhere.

Fulton Bank savings account options

Statement Savings

This account earns a low rate, just like their checking accounts.
APYMinimum Balance to Earn APY
0.02%None
  • Minimum opening deposit: $25 when opening online, $0 at a local branch
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: $6 (this can be waived)
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This account features a low minimum opening deposit, or none at all if you open one in person. It also only requires a $100 minimum daily balance. Statement Savings could be good for young adult savers, as the fee is also waived if you’re under 19 years old.

Other than that, it’s a pretty basic savings account. While there’s no ATM access, you do get online and mobile banking. You can also link this account to your Fulton Bank checking account for overdraft protection, though keep in mind that because of federal regulation, you’re allowed up to six certain withdrawals/transfers a month or else the bank will charge you a $12 for each excess transaction above that mandated limit.

How to get the Statement Savings account

Filling out an online application can take as little as 15 minutes from start to finish. Before filling in your personal details, you’ll need to indicate your location by entering in your ZIP code, then enter information such as your name, address, government-issued ID or Social Security number. Then you can fund the account.

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Student Savings

This might be a good account if you want to link your Student Checking account for overdraft protection.
APYMinimum Balance to Earn APY
0.02%None
  • Minimum opening deposit: $0 if opening an account at a branch, $25 if opening an account online
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: None
  • ATM fee: $2.50 for out of network ATMs
  • ATM fee refund: Up to 5 per month
  • Overdraft fee: N/A

Anyone under the age of 22 can open this account to help them start on their savings journey, though the rates aren’t great. You can link this to a Fulton Bank checking account if you want overdraft protection. Keep in mind that if you’re under 18 years old, an adult needs to cosign in order for you to receive an ATM card.

Other features include online and mobile banking and up to five ATM refunds a month, which is a pretty nice bonus. Since Regulation D allows you up to six certain withdrawals/transfers per month, you could be paying a $12 excess activity fee from the bank if you make more than six transactions.

How to get the Student Savings account

You can open an account in as little as 15 minutes by going through the online application process. Head over to Fulton Bank’s website and first enter in your ZIP code to see if you’re eligible to open an account. If you are, then you’ll need to fill in the application form which will ask for details such as your name, government-issued ID and Social Security number. Then you can fund your account either via an external account, a debit card or credit card.

Otherwise, you can call customer service at 1-800-385-8664 or head to your local branch to open an account.

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How Fulton Bank’s savings accounts compare

The rates offered on Fulton Bank savings accounts aren’t great. Sure, you can get the monthly maintenance fee waived and there’s a low opening deposit amount, but that isn’t enough to convince us this account is worth opening. Instead, we suggest you continue your research by looking at our list of the best online savings accounts.

Fulton Bank’s CD rates

Certificates of deposit

The bank’s promo rates are worth looking into.
TermAPY
3 months0.05%
6 months0.05%
9 months (promo rate)2.25%
12 months (variable rate)0.05%
13 months (promo rate)2.25%
15 months0.20%
18 months1.20%
24 months0.45%
25 months (promo rate)2.75%
30 months0.76%
36 months1.35%
48 months1.45%
60 months1.55%
72 months1.70%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 6 months’ interest

These CDs are fixed rate and best for those who have at least $1,000 available to put into an account with a guaranteed rate of return. The promo rates you see above are valid until the end of October and only apply to new money deposited, meaning it’s not money that’s currently in another Fulton Bank deposit account.

There is the option of a variable rate account, which is only available for a 12-month term. If you have the Relationship Banking checking account, you could qualify for additional rate benefits, though you’ll need to contact the bank directly to find out what they are.

Interest you earn is compounded and credited every month. You have the option of keeping interest earned in the CD or withdrawn to another account. When your account matures, you have a 10-day grace period to make any changes to the CD or else it’ll be automatically be renewed.

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No Penalty CD

The low rate doesn’t seem like it’s worth the hassle of opening an account.
TermAPY
9 months0.05%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: None (exceptions apply)

It does sound nice that you can withdraw funds anytime without a penalty, but this account isn’t without its drawbacks. First, the rate is extremely low. If you don’t intend on using the funds within nine months, you’re either better off going with the fixed-rate CD or putting it in a high-interest savings account.

Although you can take your money out at any time, the funds need to be in your account for a minimum of seven days before you can make a withdrawal. Otherwise, you may need to pay an early withdrawal penalty, so you need to contact the bank directly to find out what that is.

Just like the fixed-rate CD, interest is compounded and credited monthly. Upon maturity, you have a 10-day grace period to make changes or else Fulton Bank will automatically renew your account.

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Bump Up CD

This CD offers one of the most competitive rates we’ve seen; unfortunately, it’s not available nationwide.
TermAPY
36 months2.00%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 6 months’ interest

This CD is a promotional rate and a good one, too. If you’re looking for a long-term CD this is a great choice as it offers a competitive rate and the opportunity to increase your rate. How it works is that whenever the advertised rate goes up for a fixed-rate CD for the 36 month term (or as close to it without exceeding 36 months), you’ll need to call the bank to request the rate increase. This can only be done once during your CD term.

Interest earned is compounded and credited every month. You can only open a certificate with funds that aren’t currently in other Fulton Bank accounts, or so-called new money. When your account matures, you have a 10-day grace period to make any chances or else it’ll be renewed automatically.

How to get Fulton Bank’s CDs

You can only open a CD at your local branch. Click here to find one closest to you.

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How Fulton Bank’s CD rates compare

The good news is that Fulton Bank offers some of the highest rates out there, so you can’t go wrong with opening a CD, especially the promo rates. The bad news is that these CDs aren’t available nationwide, so you’re out of luck if you don’t live near a brick-and-mortar location.

In that case, you’ll want to look at our list of the best CD rates to shop around.

Fulton Bank money market account options

Money Market

Sure, it’s a much higher rate than the savings account, but there are even better ones out there.
APYMinimum Balance to Earn APY
0.16% $1,000
  • Minimum opening deposit: $25 if opening an account online, $0 if opening an account in person
  • Minimum balance to earn APY: $1,000
  • Monthly account maintenance fee: $10 (this can be waived)
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

Although the Money Market Account does offer a rate higher than Fulton Bank’s savings accounts, it also comes with a slightly higher monthly maintenance fee. However, you can get it waived if you keep a minimum daily balance of $1,000 in the account. The account also comes with online and mobile banking, though no ATM access.

Since this is considered a savings account, Federal Reserve Regulation D allows you up to six certain withdrawals/transfers a month, or else you’ll need to pay an $12 excess activity fee from the bank for each one over the allotted amount.

How to get Fulton Bank’s Money Market account

Opening an account can take as little as 15 minutes. Go to the bank’s website and enter your ZIP code then fill out an application for if you’re eligible to open an account. You’ll need to fill in personal details such as your name, address and Social Security number. Then fund your account either with an external account, a debit card or credit card.

Otherwise, you can call customer service at 1-800-385-8664, or head to your local branch to open an account.

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Platinum Money Market

This tiered account is a step up as far as rates go, but you need a high minimum balance to earn advertised APY.
APYMinimum Balance to Earn APY
0.18%$10,000
0.24%$24,999.01
0.26%$49,999.01
0.27%$74,999,01
0.32%$99,999.01
0.33%$249,999.01
0.34%$999,999.01
0.34%$1,999,999.01
  • Minimum opening deposit: $25 when opening online, $0 when opening in person
  • Minimum balance to earn APY: $10,000
  • Monthly account maintenance fee: $25 (can be waived)
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This account is best for those who have a lot of cash and want to maximize their rates, for example, someone sitting on money in between investments. The monthly account maintenance fee is pretty steep and you need to keep a high minimum daily balance — $10,000 to be exact — in order to waive the fee.

Other than free online and mobile banking, there aren’t other other features like ATM access or check-writing capabilities. Also, you’re allowed up to six certain withdrawals/transfers a month because of Regulation D. Otherwise, you’ll pay a $12 excess activity fee from the bank for each transaction you make over the threshold.

How to get the Platinum Money Market account

You can open an account in as little as 15 minutes by doing so online. First, head to the bank’s website and enter your ZIP code then fill out an application for if you’re eligible to open an account. You’ll need to fill in personal details such as your name, address and Social Security number. Then fund your account either with an external account, a debit card or credit card.

Otherwise, you can call customer service at 1-800-385-8664, or head to your local branch to open an account.

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How Fulton Bank’s money market accounts compare

We’d give these accounts a hard pass if you’re looking for the best rates possible. Some of the other competitors found on our list of the best money market rates offer lower minimum account balance amounts and no monthly fees. Not only will shopping around help save you some serious cash, it could help you earn much higher rates.

Fulton Bank IRA account options

IRA CD

Some of these rates are on par with the best offerings out there.
TermAPY
3 months0.05%
6 months0.05%
9 months (promo rate)2.25%
13 months (promo rate)2.25%
15 months0.20%
18 months1.20%
24 months0.45%
25 months (promo rate)2.75%
30 months0.76%
36 months1.35%
48 months1.45%
60 months1.55%
72 months1.70%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 6 months’ interest

Fulton Bank’s IRA CDs are a great choice for those who are looking for a tax-advantaged account that offers decent guaranteed rates. Just like the regular CDs, the promotion rates are only good until the end of October 2018 and applies to new money, meaning money transferred from an external account.

Interest is compounded and deposited into your CD monthly. Upon maturity, you have a 10-day grace period where you can either make additional deposits, withdrawals or renew for another another term. Otherwise, Fulton Bank will automatically renew your CD for the same term.

How to get an IRA CD

You can only open an IRA CD in person.

LEARN MORE Secured

on Fulton Bank, National Association’s secure website

Member FDIC

Bump Up IRA CD

You get a great rate in a tax-advantaged account.
TermAPY
36 months2.00%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 6 months’ interest

If you’re looking for a conservative investment vehicle, you can’t go wrong with the bump up IRA CD. This account gives you a chance to raise your rate once. If the advertised rate for the 36 month (or the closest equivalent) CD is higher than your current one, you can request an increase.

Just like the fixed-rate CD, interest is compounded and credited monthly. You can only qualify for this rate if you deposit new money, meaning funds that aren’t currently sitting in other Fulton Bank accounts. Also, upon account maturity, you have a 10-day grace period to make any necessary chances or else the account will automatically be renewed for the same term.

How to get the Bump Up IRA CD

You can only open an IRA CD in person at a branch.

LEARN MORE Secured

on Fulton Bank, National Association’s secure website

Member FDIC

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How Fulton Bank’s IRA CD rates compare

The rates on these IRA CDs are on par with some of the best offerings we’ve seen, including ones on our list of the best IRA CD rates. Unfortunately, you can one open one of these accounts if you live in certain parts of the U.S. If you’re not in a participating area, you’re sadly out of luck.

IRA Money Market account

You get more flexibility compared with the IRA CD, but at the cost of a low rate.
APYMinimum Balance to Earn APY
0.08% none
  • Minimum opening deposit: $10
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This is a basic IRA money market account that offers you an opportunity to keep your money in a tax-advantaged account. It’s great for those who don’t want to be tied down to things like CD terms, but even if you can withdraw money at any time, you could be subject to IRS penalties if you do so under the age of 59 1/2 years old. You’re also allowed up to six certain withdrawals/transfers due to Regulation D and you’ll face a $12 excess activity fee for each transaction over the threshold from the bank.

How to get Fulton Bank’s IRA Money Market account

You’ll need to head to a local branch to open an account.

LEARN MORE Secured

on Fulton Bank, National Association’s secure website

Member FDIC

Overall review of Fulton Bank’s banking products

Fulton bank offers some great CD and IRA CD rates, which we’ve found are close to or a match with other online competitors. Their savings, checking and money markets are less than stellar and you’re better off avoiding those if you want higher rates. You do get a debit card that offers cash back and rewards, so that is a decent selling point.

However, none of this matters if you don’t live in the mid-Atlantic region that Fulton Bank serves. If that’s the case, you have no choice but to go elsewhere.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Sarah Li Cain
Sarah Li Cain |

Sarah Li Cain is a writer at MagnifyMoney. You can email Sarah Li here

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