MutualOne Bank :
Online Savings Account - 0.45% APY
• A penalty for early withdrawal may apply.
• Maximum opening deposit $500.
• Statement only.
• Balance in excess of $1,000,000 will earn a lower interest rate, for example a balance of $1,250,000.00 will earn 0.53% APY.
• Online transactions only.
• Online Banking and eDocuments required within 30 days of account opening.
Fee and Feature Guide
| Savings Account | |
|---|---|
| Interest Rate | |
| APY | 0.45% |
| Minimum deposit amount | $500.00 |
| Maximum deposit amount | N/A |
| Balance Requirements | |
| Minimum Opening Deposit | $500.00 |
| 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 | $29.00 |
| 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 | × |
| Online Bill Payments Required | × |
| Account Opening | |
| Open Online | Yes |
| Insured by | F.D.I.C. |
Reviews on MutualOne Bank
Jason Turnable | Feb 15, 2021
And, poof, just like that. After years of being competitive, they've dropped their MM rate from 0.70 to 0.45 in two weeks.
IDK | Feb 10, 2021
I opened CDs with no issue, they didn't want to set me up for bank-to-bank transfer for a savings account. Someone called me several times and I would call back and get told they had everything. Not worth all the emails and phone calls.
D Lorenz | Feb 10, 2021
A little weak around the edges!
ABSie | Jan 23, 2021
Not the quickest experience (you'll need to wait for the mail for your acct# in order to set up your online account) and not the easiest (I had some difficulties getting online access), but customer support is great. Accounts that are at the top of this table and that have DIF insurance are made for times like these.
Jersey Miki | Dec 30, 2020
Don't let the name fool you. It sounds like a big name, but it isn't. MutualOne is a small Massachusetts-charted bank with 3 branches and therefore they don't have this online thing down. The good news is that it part of DIF which provides better security than just FDIC and to $1 million. I haven't been so impressed, but I will gladly take 0.70% with DIF here.