Live Oak Banking Company :
Online Savings Account - 0.60% APY
•There are no monthly maintenance fees or minimum balance requirements
• No minimum balance to open
• Maximum balance is $5 million (BestCashCow advises remaining within FDIC coverage limits).
• Make up to 6 withdrawals per statement cycle.
• May link your account with up to 3 other accounts and may transfer up to $250,000 either inbound or outbound.
• Fees charged for inbound and outbound wire transfers.
• No trust accounts.
• No ATM access.
Fee and Feature Guide
| Savings Account | |
|---|---|
| Interest Rate | |
| APY | 0.60% |
| Minimum deposit amount | $0.00 |
| Maximum deposit amount | N/A |
| Balance Requirements | |
| Minimum Opening Deposit | $0.00 |
| Minimum Balance to Avoid Fees | $0.00 |
| Minimum Required Balance | $0.00 |
| Fees | |
| Monthly Maintenance Fee | N/A |
| Foreign ATM Fees | N/A |
| Insufficient Funds Fee | N/A |
| Incoming Wires | N/A |
| Statements | |
| Paper Statements | Yes |
| Online Statements | Yes |
| Online and Telephone Banking | |
| Online Banking | Yes |
| Telephone Banking | × |
| Mobile Banking | Yes |
| Deposit Checks with Mobile Device | Yes |
| Free Bill Pay | Yes |
| Online Bill Payments Required | Yes |
| Account Opening | |
| Open Online | Yes |
| Insured by | F.D.I.C. |
Reviews on Live Oak Banking Company
Leo R | Feb 28, 2021
Never really sure when interest is going to be posted to the account, otherwise it is excellent.
Difficult to work with | Jan 27, 2021
I've been a depositor since I opened about 2 years ago when they launched and were advertiser here and everywhere. The rates are still competitive, but why can't then issue a 1099 or put it online in a timely manner like everyone else does?
Summit Girl | Sep 03, 2020
This is the best bank on the list. Great service, competitive rates, no problems.
M Donaldson | Aug 28, 2020
I've been banking with Live Oak since they first began offering online savings and CD products about 5 years ago. I've never had a problem and always received prompt service online, by phone and by message when I have a question. Their rates have come down a bit over the last several months and I could use this section to complain. Rates have fallen everywhere however, and LOB has remained very competitive. So no complaints!
LesWilliamson | Jul 31, 2020
I opened for the rates, but stayed for the service. 5 stars for the fast email responses to any question.