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  Exchange Bank and Trust True Savings Account

Exchange Bank and Trust True Savings Account

in Savings Accounts from Exchange Bank and Trust · fdic

Unaffiliated

Exchange Bank and Trust True Savings Account

Unaffiliated

in Savings Accounts from Exchange Bank and Trust · Member FDIC

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Highlights
Monthly Fee $1
APY (Annual Percentage Yield) 0.1%
APY Minimum Balance $50

Exchange Bank and Trust True Savings Account Review

Exchange Bank and Trust True Savings Account is offered by Exchange Bank and Trust, a bank founded in 1856 and based in Atchison, KS. Exchange Bank and Trust True Savings Account is available in 1 state across the USA.

Key Takeaways
  • Higher than average APY. Exchange Bank and Trust True Savings Account has an annual percentage yield of up to 0.1%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $50.
  • Charges a monthly fee. This account charges a monthly service fee of $1, but the fee is waived if you keep a minimum balance of $100.
  • Bill pay. Pay your bills to practically anyone in the United States through Exchange Bank and Trust.
Exchange Bank and Trust True savings account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Only available in one state.
  • Higher than average wire transfer fees.
  • Monthly service charge.
Exchange Bank and Trust True savings account FAQ

Are savings accounts from Exchange Bank and Trust federally insured?

Yes, your Exchange Bank and Trust savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #4619). 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 Exchange Bank and Trust offer a signup bonus?

Exchange Bank and Trust True savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Exchange Bank and Trust True savings account?

The minimum deposit to open a Exchange Bank and Trust True savings account is $50.
Exchange Bank and Trust True Savings Account Minimums
Description
APY Minimum Balance $50
Minimum Balance to Avoid Monthly Fee Starting at $100
Minimum Opening Deposit Starting at $50

What APY does Exchange Bank and Trust offer?

Exchange Bank and Trust True savings account offers an APY of 0.1% (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 Exchange Bank and Trust True savings account charge?

This account charges a monthly service fee of $1. However, you can waive the monthly fees if you have a minimum daily balance of $100.

  • Outgoing domestic bank transfers come with a $30 fee.
  • Incoming domestic bank transfers come with a $20 fee.
  • Outgoing international bank transfers come with a $75 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Incoming international bank transfers come with a $20 fee.
  • Exchange Bank and Trust True savings account charges a $10 fee for an early account closure. Contact Exchange Bank and Trust True savings account for more details on what is considered an early closure.
  • Exchange Bank and Trust True savings account charges $2 every time you request a paper statement.

What features and perks does Exchange Bank and Trust True savings account offer?

This savings account includes the following features:

  • Fraud monitoring - Exchange Bank and Trust True 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.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Exchange Bank and Trust True 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.

Can you set up a direct deposit to Exchange Bank and Trust True savings account?

In most cases, the answer is yes. 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 Exchange Bank and Trust True savings account?

The customer support email for Exchange Bank and Trust True savings account is ibank@myexchangebank.com.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 1 state
Kansas
Availabile in all of Kansas

Feature Breakdown

APY Minimum Balance $50
Minimum Balance to Avoid Monthly Fee Starting at $100
Minimum Opening Deposit Starting at $50
Early Account Closure $10
Monthly Fee $1
Paper Statement Fee $2
Returned Deposit Fee (Domestic) $6
Wire Transfer Fee - Domestic (Incoming) $20
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $20
Wire Transfer Fee - International (Outgoing) $75
Account Features
  • Member FDIC
  • Branch Access
  • Free Bill Pay
  • Fraud Protection
  • Fraud Monitoring
  • Mobile Banking
  • Interest Bearing Account
  • Mobile Check Deposit
APY (Annual Percentage Yield) 0.1%

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