Get Started with Customers Bank High Yield Savings Today

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A piggy bank and pink gerbera daisy rest on colorful illustrated books, symbolizing savings and creativity.
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Customers Bank High Yield Savings is a great option for those looking to earn a higher interest rate on their savings. With a competitive interest rate of 4.50% APY, you can earn more on your money without taking on unnecessary risk.

To get started, you'll need to open a new account online or by visiting a branch. The process is straightforward and can be completed in just a few minutes.

Getting Started

You can open a High-Yield Savings Premier account in just minutes, and it's safe and easy to apply online.

To get started, you'll need to make a minimum deposit of $500 to open the account, and you'll also need to maintain a minimum balance of $0.01 to earn the advertised APY.

The annual percentage yield (APY) is accurate as of January 2, 2025, but keep in mind that it's subject to change at the bank's discretion, so be sure to check the product's website for the latest APY rate.

9x National Average APY

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If you're looking to grow your money faster, you're in luck because Western Alliance Bank offers rates that are more than 9x the national average APY. This means your money will be earning interest at an incredible pace.

To put this into perspective, let's consider the average APY in the US. Unfortunately, the article doesn't provide this information, so we'll just have to trust that Western Alliance Bank's rates are indeed 9x higher.

To take advantage of these high rates, you'll need to open a new account with a minimum opening deposit of $1. This is a great opportunity to start earning interest from Day 1 of your first deposit.

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Ready to Start?

Getting started with online banking is easier than ever. You can open a new account with a minimum opening deposit of $1, but be aware that some accounts may have a higher minimum deposit requirement, such as $500.

To get started, you'll need to provide your personal information, including your name, address, phone number, email, and social security number or Tax ID. This is a standard requirement for most banks and online financial institutions.

Check this out: Savings Deposit Program

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Once you've opened your account, you can start earning interest right away, with some accounts offering no limit on how much you can earn. This is a great way to grow your savings over time.

Online banks are a great option for those who want to take advantage of higher interest rates on savings accounts. They often have lower overhead costs and can pass those savings on to customers through higher interest rates.

Before you apply, make sure to research the bank's security measures to protect your personal information. You can check your balance and manage your savings 24/7 through the bank's website or mobile app.

Here are the steps to open a High-Yield Savings Premier account:

  1. Open a High-Yield Savings Premier account in minutes.
  2. The minimum deposit required to open an account is $500.
  3. A minimum balance of $0.01 is required to earn the advertised APY.
  4. Funds received by ACH transfer initiated from the designated linked account to your account will generally be available five (5) business days for withdrawal after you initiate the ACH transfer.

Account Features

Our high-yield savings account offers a range of features to help you manage your money effectively.

With our online banking platform, you can easily view your account balance, transaction history, and statements from the comfort of your own home.

You can also set up account alerts to notify you of large transactions, low balances, or when your account is due for a statement.

Our mobile banking app allows you to deposit checks remotely, transfer funds, and pay bills on the go.

Expect More

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With a High Yield Savings Account, you can earn a higher interest rate without sacrificing access to your money. This means your money will be growing faster, allowing you to reach your goals sooner.

You can open an account anytime, day or night, and it's simple, secure, and takes just minutes. The initial deposit is just $500.

Credit Unions

Credit unions are member-owned financial cooperatives that offer various financial products and services, including savings accounts.

They typically offer higher interest rates than traditional banks, which is great for earning more on your money.

This is because they operate under a not-for-profit cooperative business model and enjoy lower operating expenses, enabling them to pass on the cost savings to their members through higher interest rates.

However, membership can be very restrictive, and not everyone is eligible to join.

Account Management

To manage your High-Yield Savings Premier account, you can log in to your portal to transfer funds or withdraw money by linking it to another account.

You can also use your portal to view your account details, including your balance and transaction history.

To withdraw funds, simply transfer the amount you want to withdraw back into your linked account.

How to Withdraw from My Account

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To withdraw from your account, simply log in to your portal. This is where you can initiate the transfer of funds back into your linked account. You can then manage the withdrawal process from there.

Difference Between Regular User Accounts

Regular user accounts are just like high-yield savings accounts, but they don't offer the same level of interest.

The key difference between regular user accounts and high-yield savings accounts is the interest rate they offer. Traditional savings accounts may provide interest rates as low as 0.01% or less, while high-yield savings accounts can boast annual percentage yields (APYs) of 1% or more.

A $10,000 balance in a traditional savings account earning 0.01% APY would only generate $1 in interest over the course of a year.

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Opening and Funding

To open a High-Yield Savings Premier account, you'll need to be a U.S. citizen or permanent resident and be at least 18 years old. You'll also need to have some essential information handy, including your Social Security Number and current U.S. residential address.

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You'll need to link your High-Yield Savings Premier account to an existing checking or savings account from another bank to fund it. This is the only way to transfer money into your new account.

Here are the specific details you'll need to fund your account or move money: you can only link one existing account, and online account transfers are the only accepted method. Checks and wires are not allowed.

To get started, you'll need to have $500 available to fund your new High-Yield Savings Premier account. You'll also need to provide your valid email address, mobile number with SMS capabilities, and existing checking or savings account login information.

About

High-yield savings accounts are a great option for customers looking to earn a higher interest rate on their savings. They typically offer rates that are 2-3 times higher than traditional savings accounts.

In fact, some high-yield savings accounts can earn up to 2.5% APY, which can add up to a significant amount over time.

High-yield savings accounts are FDIC-insured, meaning your deposits are insured up to $250,000.

This means you can feel confident and secure with your savings.

Comparison and Options

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High-yield savings accounts can be a great option for customers looking to earn a higher interest rate on their savings. Some popular options include Ally Bank, Marcus by Goldman Sachs, and Discover Bank.

Ally Bank's Online Savings Account offers a competitive interest rate of 2.20% APY, while Marcus by Goldman Sachs offers a rate of 2.15% APY. Discover Bank's High Yield Savings Account also offers a rate of 2.10% APY.

However, it's worth noting that rates can change over time, so it's essential to check the current rate before opening an account.

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Frequently Asked Questions

Is Customers Bank a legit bank?

Customers Bank is a legitimate bank, insured by the FDIC to protect deposits up to $250,000 per account

Which bank has the highest yielding savings account?

The DCU Primary Savings Account offers the highest APY at 6.17%, making it the top choice for high-yielding savings. Check the details to see if it suits your savings goals.

Is Customers Bank by Raisin safe?

Customers Bank, powered by Raisin, is a secure option, as Raisin partners with federally regulated institutions that implement robust cybersecurity measures. Your deposits are protected by comprehensive security controls and incident response plans.

Helen Stokes

Assigning Editor

Helen Stokes is a seasoned Assigning Editor with a passion for storytelling and a keen eye for detail. With a background in journalism, she has honed her skills in researching and assigning articles on a wide range of topics. Her expertise lies in the realm of numismatics, with a particular focus on commemorative coins and Canadian currency.

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