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  CharterBank Savings Account
CharterBank Savings Account
in Savings Accounts from CharterBank · Member FDIC
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CharterBank Savings Account

Unaffiliated
in Savings Accounts from CharterBank · Member FDIC
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Highlights
Monthly Fee $0 - $3.34
APY (Annual Percentage Yield) 0.04%
Minimum Balance to Earn APY N/A

CharterBank Savings Account Review

CharterBank Savings Account is offered by CharterBank, a bank founded in 1954 and based in West Point, GA. CharterBank Savings Account are available in 3 states across the USA.

Key Takeaways

  • Low interest rate. The maximum annual percentage yield for this account is only 0.04%.
  • $0 monthly account fees available. This account charges a monthly service fee of up to $3.34, but the fee is waived if you keep a minimum balance of $100.
  • No ATM fees. CharterBank Savings Account does not charge fees on ATM transactions.

CharterBank Savings Account Pros & Cons

Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • No signup bonus.
  • Does not come with a debit card
  • Only available in 3 states.
  • Higher than average wire transfer fees.
  • Monthly service charge.

CharterBank Savings Account FAQ

Are savings accounts from CharterBank federally insured?

Yes, your CharterBank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does CharterBank offer a signup bonus?

CharterBank Savings Account doesn't offer a signup bonus.

What is the minimum initial deposit for CharterBank Savings Account?

CharterBank Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $100

What APY does CharterBank Savings Account offer?

CharterBank Savings Account offers an APY of 0.04% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does CharterBank Savings Account charge?

CharterBank Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $100.

  • Outgoing domestic bank transfers come with a $20 fee.
  • Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • CharterBank Savings Account charges a $25 fee for an early account closure. Contact CharterBank Savings Account for more details on what is considered an early closure.
  • CharterBank Savings Account charges $3 every time you request a paper statement.

What features and perks does CharterBank Savings Account offer?

This savings account includes the following features:

  • Fraud monitoring - CharterBank Savings Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Mobile Banking Services - CharterBank Savings Account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to CharterBank Savings Account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for CharterBank Savings Account?

The customer support email for CharterBank Savings Account is webmaster@charterbank.net.

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Contact

Other Services by CharterBank

Availability

  Available in 3 states
  • Alabama
  • Florida
  • Georgia

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $100
Monthly Fee $0 - $3.34
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Outgoing) $50
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $10
Early Account Closure $25
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
Bauer Financial A+/A Rating
Account Features
  • No ATM Fees
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
APY (Annual Percentage Yield) 0.04%

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