Exchange Bank of California MyCash Savings

Exchange Bank of California MyCash Savings Review

Exchange Bank of California MyCash Savings is offered by Exchange Bank of California, a bank founded in 1890 and based in Santa Rosa, CA. Exchange Bank of California MyCash Savings are available in 1 state across the USA.

Key Takeaways

• Low interest rate. The maximum annual percentage yield for this account is only 0.05%.
• $0 monthly fee. This account does not charge any monthly account fees.
• No minimum initial deposit. There is no minimum balance required to open an account online.

Exchange Bank of California MyCash Savings 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.

Exchange Bank of California MyCash Savings FAQ

Are savings accounts from Exchange Bank of California federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #8468). 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 of California offer a signup bonus?

Exchange Bank of California MyCash Savings doesn't offer a signup bonus.

What is the minimum initial deposit for Exchange Bank of California MyCash Savings?

There is no minimum deposit to open a Exchange Bank of California MyCash Savings.

Exchange Bank of California MyCash Savings Minimums

Description
Minimum Balance to Earn APY	$0.01
Minimum Opening Deposit	Starting at $0

What APY does Exchange Bank of California MyCash Savings offer?

Exchange Bank of California MyCash Savings offers an APY of 0.05% (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 of California MyCash Savings charge?

Exchange Bank of California MyCash Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.

• Outgoing domestic bank transfers come with a $30 fee.
• Incoming domestic bank transfers come with a $15 fee.
• Outgoing international bank transfers come with a $55 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 $15 fee.
• Exchange Bank of California MyCash Savings charges $5 every time you request a paper statement.

What features and perks does Exchange Bank of California MyCash Savings offer?

This savings account includes the following features:

• Fraud monitoring - Exchange Bank of California MyCash Savings 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 - Exchange Bank of California MyCash Savings 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 of California MyCash Savings?

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 Exchange Bank of California MyCash Savings?

The customer support email for Exchange Bank of California MyCash Savings is info@exchangebank.com.