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  Gate City Bank Relationship Savings Account

Gate City Bank Relationship Savings Account

in Savings Accounts from Gate City Bank · fdic

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Gate City Bank Relationship Savings Account

Unaffiliated

in Savings Accounts from Gate City Bank · Member FDIC

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Highlights
Monthly Fee $0
APY (Annual Percentage Yield) 0.02%
APY Minimum Balance $50

Gate City Bank Relationship Savings Account Review

Gate City Bank Relationship Savings Account is offered by Gate City Bank, a bank founded in 1923 and based in Fargo, ND. Gate City Bank Relationship Savings Account is available in 2 states across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.02%.
  • Bill pay. Pay your bills to practically anyone in the United States through Gate City Bank.
Gate City Bank savings account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to a nationwide network of ATMs.
  • No signup bonus.
  • Does not come with a debit card
  • Only available in 2 states.
Gate City Bank savings account FAQ

Are savings accounts from Gate City Bank federally insured?

Yes, your Gate City Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #27774). 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 Gate City Bank offer a signup bonus?

Gate City Bank savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Gate City Bank savings account?

The minimum deposit to open a Gate City Bank savings account is $50.
Gate City Bank Relationship Savings Account Minimums
Description
APY Minimum Balance $50
Minimum Opening Deposit Starting at $50
Minimum Required Balance $50

What APY does Gate City Bank offer?

Gate City Bank savings account offers an APY of 0.02% (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 Gate City Bank savings account charge?

Gate City Bank savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

  • Incoming domestic bank transfers come with a $10 fee.
  • Incoming international bank transfers come with a $22 fee.

What features and perks does Gate City Bank savings account offer?

This savings account includes the following features:

  • Fraud monitoring - Gate City Bank 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 - Gate City Bank 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 Gate City Bank 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.

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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 2 states
  • Minnesota
  • North Dakota

Feature Breakdown

APY Minimum Balance $50
Minimum Opening Deposit Starting at $50
Minimum Required Balance $50
Monthly Fee $0
Returned Deposit Fee (Domestic) $13
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - International (Incoming) $22
Account Features
  • Member FDIC
  • Free Bill Pay
  • Fraud Protection
  • Fraud Monitoring
  • Mobile Banking
  • Nationwide ATM Network
  • Interest Bearing Account
  • Mobile Check Deposit
APY (Annual Percentage Yield) 0.02%

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