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

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Updated on Sunday, November 1, 2020

Florida Community Bank is the second largest independent bank based out of Florida. It launched its first branch in 1923, in Collier County. From there, it has expanded to 50 locations throughout Florida.

In 2018, Forbes rated Florida Community Bank as the 8th-best large bank in terms of financial stability and performance. This may be a good sign that it is a safe and reliable bank to work with. But while financial stability is important, you also want to make sure your bank offers a fair interest rate and other account benefits.

To help you in your search, we’ve reviewed all of Florida Community Bank’s accounts using the latest product information and rates available. As a regional organization, Florida Community Bank uses the same product information for each location. Also, you can only open an account in person, so this financial institution is mainly an option for readers who live near branches in Florida. The rates aren’t currently being advertised on their website so you’ll need to contact bank to confirm them.

Florida Community Bank checking account options

Florida Community Bank Pinnacle Checking account

This is Florida Community Bank’s high-end checking account. It earns interest and offers free banking perks. But it also comes with a massive minimum balance requirement and monthly fee.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $25 (can be waived)
  • ATM fees: None
  • ATM fee refunds: Unlimited
  • Overdraft fees: $31 per transaction

Although the Florida Community Bank Pinnacle Checking account requires an opening deposit of $100, you’ll need to keep much more money stowed away for this account to make sense. It charges a steep $25 monthly fee unless you either:

  • Keep an average daily balance of at least $25,000 combined in FCB checking, savings or money market accounts, or
  • Have an outstanding loan at Florida Community Bank with autopay (mortgages do not count.)

Pinnacle Checking earns interest, but need to deposit $25,000 to launch the account. This account also comes with a free order of checks, free Cashier’s checks, free incoming wire transfers and a free safety deposit box. You also receive identity theft protection and credit monitoring through this account.

With the Pinnacle Checking account, you can make free withdrawals at any ATM. Florida Community Bank refunds all fees from out-of-network ATMs. If you make purchases on the debit card, you earn 0.50% cash back up to a maximum reward of $10 per month.

You can only open the Florida Community Bank Pinnacle Checking account by visiting a bank branch. This account is not available online or by phone. To open the account, you will need to provide your contact information and address, a form of government ID, your Social Security number and an opening deposit.

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Florida Community Bank Essential Checking account

This account provides basic banking services and cash back on a debit card. However, your balance doesn’t earn interest and the account comes with a high balance requirement and potential monthly fee.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $15 (can be waived)
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

The Essential Checking account is a step down from the Pinnacle account. It doesn’t include all the free banking perks. Instead, it just offers online banking, a debit card and one free order of checks.

You also receive cash back when you spend money on the debit card. You earn 0.50% back on each purchase up to $10 per month in rewards, the same as Pinnacle. However, this account does not earn interest.

In exchange, this account has a lower monthly maintenance fee of $15, which you can avoid by keeping an average daily balance of $1,000. If you are 55 or older, Florida Community Bank will waive the monthly fee regardless of your balance.

With this account, you can make free withdrawals from ATMs at Florida Community Bank branches as well as Publix Presto® ATMs. If you use other ATMs, this account will not refund any fees charged by the owner. However, Florida Community Bank doesn’t charge a fee on out-of-network transactions.

You can only open the Florida Community Bank Essential Checking account by visiting a bank branch. This account is not available online or by phone. To open the account, you will need to provide your contact information and address, a form of government ID, your Social Security number and an opening deposit.

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Florida Community Bank Eco Checking account

This checking account doesn’t offer much, but the monthly fee is easy to avoid. Florida Community Bank promotes it as environment-friendly because it encourages you to use electronic statements.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $10 (can be waived)
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

Florida Community Bank markets its Eco Checking account as a way to go green. It offers checks printed on recycled paper and encourages account holders to use electronic statements to avoid wasting paper (it’s one of the requirements to avoid the monthly fee.)

The account charges a $10 monthly fee which you can avoid by doing the following:

  • Sign up for online banking
  • Elect to only receive e-statements
  • Set up a direct deposit

If you are a full-time student, this account is always free.

The Florida Bank Eco Checking account does not earn interest. It provides online banking, a debit card and the ability to order checks. If you spend on the debit card, you receive cash back. You earn 0.25% per purchase up to a maximum of $5 in cash back per month.

You can make free withdrawals from ATMs at Florida Community Bank branches as well as Publix Presto® ATMs. If you use other ATMs, this account will not refund any fees charged by the owner. However, Florida Community Bank doesn’t charge a fee on out-of-network transactions.

You can only open the Florida Community Bank Eco Checking account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account.

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Florida Community Bank Free Checking account

A free checking account which only offers the basics. It doesn’t earn interest or cash back.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: None
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

The Florida Community Bank Free Checking account never charges a monthly maintenance fee. It requires a $100 opening deposit, but after that, there is no minimum balance requirement.

This account comes with a debit card, online banking and a free first order of checks. However, it does not earn interest or cash back on debit card purchases.

You can make free withdrawals from ATMs at Florida Community Bank branches as well as Publix Presto® ATMs. If you use other ATMs, this account will not refund any fees charged by the owner. However, Florida Community Bank doesn’t charge a fee on out-of-network transactions.

You can only open the Florida Community Bank Eco Checking account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account.

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Florida Community Bank Budget Checking account

This account has a lower opening deposit than the other Florida Checking accounts. It also waives the monthly fee if you set up direct deposit.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $4 (can be waived)
  • ATM fees: None
  • ATM fee refunds: Two withdrawals per month, up to $10 in fees refunded max.
  • Overdraft fees: $31 per transaction

It only takes $25 to open a Community Bank Budget Checking account, much lower than the $100 it takes to open their other accounts. After that, this account does not have a minimum balance requirement. It will charge a $4 monthly fee, but you can get that waived by setting up direct deposit with your paycheck or government deposit.

The Florida Community Bank Budget Checking account does not earn interest or cash back on the debit card. It only comes with online banking, a debit card and the ability to order checks.

You can make free withdrawals from ATMs at Florida Community Bank branches as well as Publix Presto® ATMs. Each month, you can make two out-of-network withdrawals and Florida Community Bank will refund up to $10 in fees from the ATM owners. The bank will not refund ATM fees on any transactions past two per month.

You can only open the Florida Community Bank Budget Checking account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account.

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Florida Community Bank Mortgage Relationship Checking account

This account is only available for customers who have a mortgage with Florida Community Bank. It doesn’t charge a monthly fee and comes with several bank perks, but no interest.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: None
  • ATM fees: None
  • ATM fee refunds: Unlimited
  • Overdraft fees: $31 per transaction

If you take out a mortgage loan with Florida Community Bank and have autopay set up, you are eligible to use its Mortgage Relationship Checking account. This account does not charge a monthly fee.

It also comes with a free order of checks, free Cashier’s checks, free incoming wire transfers and a free safety deposit box. You also can enroll in a free identity theft protection and credit monitoring program with Florida Community Bank.

With this account, you can make free withdrawals at any ATM. Florida Community Bank refunds all the fees from out-of-network ATM owners. This account does not earn interest or cash back for purchases on the debit card.

You can only open the Florida Community Bank Mortgage Relationship Checking account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account. They will also need to confirm that you have an existing Florida Community Bank mortgage.

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Florida Community Bank Stars and Stripes Checking account

A checking account for active members of the U.S. military and veterans. It earns interest, and you only need to set up direct deposit to avoid the monthly fee.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $10 (can be waived)
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

If you are an active member of the U.S. military or a veteran, you can sign up for the Florida Community Bank Stars and Stripes Checking account. You need to make an opening deposit of at least $100 but after that there is no minimum balance requirement. This account charges a $10 monthly fee, but Florida Community Bank will waive the fee if you set up a recurring direct deposit into the account.

The Stars and Stripes Checking account earns interest when your balance is at least $100. The rate is OK for a checking account but far from the highest. This account does not earn cash back through the debit card.

It comes with online banking, free checks and a free safety deposit box for one year. After the first year, you receive a 50% discount on the safety deposit box fee. You can make free withdrawals from ATMs at Florida Community Bank branches as well as Publix Presto® ATMs. If you use other ATMs, this account will not refund any fees charged by the owner. However, Florida Community Bank doesn’t charge a fee on out-of-network transactions.

You can only open the Florida Community Bank Stars and Stripes Checking account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account.

After you open the account, Florida State Community bank will make a $50 donation to one of several military charities. You pick the charity when you sign up.

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How Florida Community Bank’s checking accounts compare

With seven different checking accounts to choose from, Florida Community Bank certainly offers a lot of options. But despite all this variety, nothing really caught our eye as a top-notch account. Only two of the Florida Community Bank checking accounts pay interest.

Another problem is only three of the accounts refund out-of-network ATM fees, which means if you stray outside the bank’s Florida service area, it can get expensive to access your money. Finally, we don’t like that nearly all their accounts charge a monthly fee. While you can get all the monthly fees waived, there are plenty of free accounts offered by other financial institutions that don’t make you jump through hoops to avoid a charge.

Now, one thing we did like was that three of their checking accounts include cash back on debit card purchases. That’s not a benefit you see everywhere. If you always spend on your debit card, Florida Community Bank could be worth a look.

But if you’re trying to earn interest and avoid fees, this isn’t the place for you. We recommend using these online checking accounts instead because they earn higher rates, have lower monthly fees and give you better ATM access than Florida Community Bank.

Florida Community Bank saving account options

Florida Community Bank Pinnacle Savings account

This account is only available if you have Florida Community Bank’s Pinnacle Checking account, its premier account. But for a hard-to-get savings account, it doesn’t pay much interest.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $1 ($3 per quarter) – Can be waived
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

You can only open a Florida Community Bank Pinnacle Savings account if you already have a Pinnacle Checking account. To launch the savings account, you’ll need to deposit at least $100. This account charges a $3 quarterly maintenance fee if your average daily balance falls below $50. It’s free so long as you stay above this point.

This account earns interest on all balances. The interest rate always stays the same and doesn’t increase for larger balances.

Since this is a savings account, federal regulations limit how often you can take money out each month. You are allowed up to six certain withdrawals or transfers out of the account per statement cycle. If you make more than six, Florida Community Bank charges a $2 fee for each excess transaction.

You can only open the Florida Community Bank Pinnacle Savings account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account. If you don’t already have an existing Pinnacle Checking account, you’ll need to open one at the same time.

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Florida Community Bank Essential Savings account

A free savings account. Only available for customers who have an Essential Checking account as well.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: None
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

The Florida Community Bank Essential Savings account matches up with the Essential Checking account. You can only open the savings account if you already have the checking account.

This account requires an opening deposit of $100. After that, there is no minimum balance requirement and this account never charges a monthly fee. It pays interest on all balances. The rate always stays the same and doesn’t increase as you deposit more.

Since this is a savings account, federal regulations limit how often you can take money out each month. You are allowed up to six certain withdrawals or transfers out of the account per statement cycle. If you make more than six, Florida Community Bank charges a $2 fee for each excess transaction.

You can only open the Florida Community Bank Essential Savings account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account. If you don’t already have an existing Essential Checking account, you’ll need to open one at the same time.

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Florida Community Bank Eco Savings account

Similar to the Essential Savings account, except this one pairs up with the Eco Checking account.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: None
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

If you have a Florida Community Bank Eco Checking account, you have the option to open an Eco Savings account. You’ll need to deposit at least $100 to open the account but after that there is no minimum balance requirement or monthly fee.

It pays interest on all balances. The rate always stays the same and doesn’t increase as you deposit more.

Since this is a savings account, federal regulations limit how often you can take money out each month. You are allowed up to six certain withdrawals or transfers out of the account per statement cycle. If you make more than six, Florida Community Bank charges a $2 fee for each excess transaction.

You can only open the Florida Community Bank Eco Savings account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account. If you don’t already have an existing Eco Checking account, you’ll need to open one at the same time.

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Florida Community Bank Personal Savings account

The same setup as the other savings accounts, except you can open this one by itself. It doesn’t require a matching checking account.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $1 ($3 per quarter) – Can be waived
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

Florida Community Bank also offers a Personal Savings account, which you can open without also having a matching checking account. This account has the same interest rate and structure as the Pinnacle Savings account.

You must deposit at least $100 to open. If your average daily balance falls below $50, this account charges a $3 per quarter fee. It pays interest on all balances.

Since this is a savings account, federal regulations limit how often you can take money out each month. You are allowed up to six certain withdrawals or transfers out of the account per statement cycle. If you make more than six, Florida Community Bank charges a $2 fee for each excess transaction.

You can only open the Florida Community Bank Personal Savings account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account.

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How Florida Community Bank’s savings accounts compare

The Florida Community Bank savings accounts are nearly identical. The only difference is the Pinnacle and Personal accounts have a $50 balance requirement or else they charge a $3 quarterly fee, while the other accounts are completely free.

Florida Community Bank did this because you need a matching checking account to open most of the savings accounts: Pinnacle Checking to open Pinnacle Savings, Essential Checking to open Essential Savings, etc. If you want to skip this extra step, you can get the same terms by just opening the Personal Savings account instead as it doesn’t require a checking account.

We don’t think these accounts pay nearly enough interest to be worth it, based on our research. It’s nice that they keep the fees low but if you’re going to deal with the savings account restrictions, you should earn a reasonable rate and that won’t happen here. Check out these top savings accounts instead so you can actually earn some interest.

Florida Community Bank CD rates

Florida Community Bank CDs

For the most part, its CD rates are way too low to be worth using. However, the bank runs the occasional promotion with an excellent, special CD rate.
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: For a CD maturity of less than one year, the penalty is one month of interest on the amount withdrawn. For a CD maturity of one year or more, the penalty is three months of interest on the amount withdrawn.

Florida Community Bank has CDs that range from seven days all the way up to 60 months (five years). They offer a lot of variety especially for short-term CDs as they have four options that last for less than one year.

You must deposit at least $1,000 and keep this much in the CD to earn the APY.

However, there is one exception. When we called customer service in September, they told us they were running a special promotion for a 12-month CD with an excellent rate. You must deposit at least $10,000 to open this promotional CD. This deal is scheduled to last until the end of September 2018.

Earlier in the year, they offered a special on a 17-month CD that lasted until the end of March 2018. It seems that they launch promotions for different CD terms during the year.

If you take money out of a Florida Community Bank CD before the end of the term, you will owe an early withdrawal penalty. The penalty is as follows:

  • For a CD maturity of less than one year, the penalty is one month of interest on the amount withdrawn.
  • For a CD maturity of one year or more, the penalty is three months of interest on the amount withdrawn.

You can only open the Florida Community Bank CDs by visiting a bank branch. They are not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account.

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How Florida Community Bank’s CD rates compare

For the most part, Florida Community Bank CDs pay low rates across the board based on our research. Even its long-term CDs, which lock up your money for five years, pay rates which are lower than some checking accounts on the market today.

The only exception is for the Florida Community Bank CD promotions. Its current 12 month promotional CD offers an excellent rate for that amount, as good as any of the best CDs available for that term. Earlier in the year, its promotion on the 17 month CD was also competitive.

We would recommend that you call up Florida Community Bank and ask whether it has any CD specials going on as these will be your best options. If it doesn’t, or if the promotion doesn’t fit your goals, don’t waste your time on its standard CDs. Use something from this list of the best CDs instead.

Florida Community Bank money market account options

Florida Community Bank Pinnacle Money Market account

Pays an extremely low rate for a money market account. Only available if you already have a Pinnacle Checking account.
  • Minimum opening deposit: $2,500
  • Monthly account maintenance fee: $12 (can be waived)
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

You can only open a Pinnacle Money Market account if you already have a Pinnacle Checking account. You must deposit at least $2,500 when you open this account. If your average daily balance ever falls below $2,500, this account charges a $12 monthly fee. It’s free if you keep your balance above this point.

This account earns interest on all balances. In addition, it doesn’t increase for larger deposits.

Since this is a money market account, federal regulations limit how often you can take money out each month. You are allowed up to six certain withdrawals or transfers out of the account per statement cycle. If you make more than six, Florida Community Bank charges a $5 fee for each excess transaction.

You can only open the Florida Community Bank Pinnacle Money Market account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account. If you don’t already have an existing Pinnacle Checking account, you’ll need to open one at the same time.

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Florida Community Bank Essential Money Market account

The matching money market account for Essential Checking.
  • Minimum opening deposit: $1,000
  • Monthly account maintenance fee: $10 (can be waived)
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

The Florida Community Bank Essential Money Market account pairs up with their Essential Checking account. You can only open the Essential Money Market account if you already have an Essential Checking account.

This money market account requires an opening deposit of at least $1,000. You need to keep your average daily balance at $1,000 or more, otherwise, this account will charge a $10 monthly fee.

This account earns interest on all balances. In addition, it stays the same for all deposits. You won’t earn more by depositing more.

Since this is a money market account, federal regulations limit how often you can take money out each month. You are allowed up to six certain withdrawals or transfers out of the account per statement cycle. If you make more than six, Florida Community Bank charges a $5 fee for each excess transaction.

You can only open the Florida Community Bank Essential Money Market account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account. If you don’t already have an existing Essential Checking account, you’ll need to open one at the same time.

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Florida Community Bank Eco Money Market account

This money market account has a relatively low balance requirement and monthly fee. It’s only available if you have an Eco Checking account.
  • Minimum opening deposit: $500
  • Monthly account maintenance fee: $5 (can be waived)
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

The Florida Community Bank Eco Money Market account is its third checking-money market combo. You must have an Eco Checking account to open the Eco Money Market account.

This account requires an opening deposit of $500, which is lower than the other Florida Community Bank money market accounts. The monthly maintenance fee is $5 and you can avoid it by keeping an average daily balance of $500 in your account.

Since this is a money market account, federal regulations limit how often you can take money out each month. You are allowed up to six certain withdrawals or transfers out of the account per statement cycle. If you make more than six, Florida Community Bank charges a $5 fee for each excess transaction.

You can only open the Florida Community Bank Eco Money Market account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account. If you don’t already have an existing Eco Checking account, you’ll need to open one at the same time.

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Florida Community Bank High Yield Money Market account

You don’t need a checking account to use this money market account and it pays more than the other options.
  • Minimum opening deposit: $2,500
  • Monthly account maintenance fee: $12 (can be waived)
  • ATM fees: None
  • ATM fee refunds: None
  • Overdraft fees: $31 per transaction

The Florida Community Bank High Yield Money Market account is not connected to any of its checking accounts. You can open this money market account without opening a checking account first.

You will need to deposit at least $2,500 to open the account. If your average daily balance falls below $2,500, this account charges a $12 monthly maintenance fee.

The High Yield Money Market account pays interest on all balances. The rate increases as you deposit more before maxing out when your account balance reaches $25,000. It’s an improvement over the other Florida Community Bank money market accounts.

Since this is a money market account, federal regulations limit how often you can take money out each month. You are allowed up to six certain withdrawals or transfers out of the account per statement cycle. If you make more than six, Florida Community Bank charges a $5 fee for each excess transaction.

You can only open the Florida Community Bank High Yield Money Market account by visiting a bank branch. This account is not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account

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How Florida Community Bank’s money market accounts compare

The Florida Community Bank money market accounts are not competitive. Based on our research, The High Yield Money Market account is its best option because it pays higher rates than the others once you deposit $10,000. Still, even its top rate is way below what the top money market accounts are paying these days.

The other Florida Community Bank money market accounts pay low interest rates that do not increase as your balance grows. You are also required to maintain a checking account to keep these accounts.

We recommend looking elsewhere for a money market account. There are better places to park your savings.

Florida Community Bank IRA CD rates

Florida Community Bank IRA CDs

Most of the bank’s IRA CD rates are not competitive. Keep your eyes peeled, though, because the bank has the occasional promotion with excellent rates.
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: For a CD maturity of less than one year, the penalty is one month of interest on the amount withdrawn. For a CD maturity of one year or more, the penalty is three months of interest on the amount withdrawn.

All the Florida Community Bank CDs can be set up through an individual retirement plan. Its IRA CDs range from seven days up to 60 months (five years). You must deposit at least $1,000 to open an IRA CD and keep this much in your account to earn the APY.

Most of the Florida Community Bank IRA CD rates are low. However, the bank runs the occasional promotion where you can get an IRA CD at a much higher rate.

When we called the bank in September, it was running a 12-month IRA CD special with a much better rate You need to deposit at least $10,000 to use the special and this promotion will last until the end of September 2018.

If you take money out of a Florida Community Bank IRA CD before the end of the term, you will owe an early withdrawal penalty. The penalty is as follows:

  • For a CD maturity of less than one year, the penalty is one month of interest on the amount withdrawn.
  • For a CD maturity of one year or more, the penalty is three months of interest on the amount withdrawn.

As these CDs are in an IRA account, taking money out of the account may trigger taxes and/or IRS penalties.

You can only open the Florida Community Bank IRA CDs by visiting a bank branch. They are not available online or by phone. You will need to provide your contact information and address, a form of government ID, your Social Security number and your initial deposit to open the account.

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How Florida Community Bank’s IRA CD rates compare

The Florida Community Bank IRA CD rates are for the most part, not worth using. They earn extremely low rates, even on their long-term IRA CDs which last up to five years at the time we contacted the bank. If you’re going to reach your retirement goals, you need a respectable interest rate — and that won’t happen with the majority of the Florida Community Bank IRA CDs.

With that being said, if you can land one of their specials, then you could get a competitive rate. These pop up from time to time and when they do, they can be a solid choice for your retirement savings.

Otherwise, we would look elsewhere for an IRA CD. Start your research with this list of the best IRA CDs on the market.

Overall review of Florida Community Bank’s deposit accounts

When you go to Florida Community Bank, you have plenty of options to choose from for each type of deposit account. But in our opinion, they would benefit by cutting down the number of accounts and focusing on improving the quality instead.

One common theme throughout Florida Community Bank is their accounts do not pay enough interest. The only accounts which pay a truly competitive rate are their CD and IRA CD specials, which aren’t always available based on our research. Their normal deposit accounts pay very little.

Most of Florida Community Bank deposit accounts also have high balance requirements or else they will charge a monthly fee. Finally, many of their options are nearly identical. It’s more confusing than helpful to have four savings accounts which offer nearly identical terms.

If you catch Florida Community Bank when they’re offering a lucrative special, they could be worth a chance. But if only the normal accounts are available, we recommend going somewhere else.