Last Updated: 04/18/2025
Machias Savings Bank My MSB Savings Account
Unaffiliated
in Savings Accounts from Machias Savings Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.15% - 0.25%(Verified 12/10/2024)
Minimum Opening Deposit
$100
Minimum Balance to Earn APY
$0.01
Machias Savings Bank My MSB Savings Account Review
Machias Savings Bank My MSB Savings Account is offered by Machias Savings Bank, a bank founded in 1869 and based in Machias, ME. Machias Savings Bank My MSB Savings Account are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Higher than average APY. Machias Savings Bank My MSB Savings Account has an annual percentage yield of up to 0.25%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $0.01 to earn that interest rate.
- $100.00 minimum opening deposit. This is a typical minimum initial deposit.
Machias Savings Bank My MSB Savings Account Pros & Cons
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Machias Savings Bank My MSB Savings Account FAQ
Are savings accounts from Machias Savings Bank federally insured?
Yes, your deposits are insured 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 Machias Savings Bank offer a signup bonus?
Machias Savings Bank My MSB Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Machias Savings Bank My MSB Savings Account?
The minimum deposit to open a Machias Savings Bank My MSB Savings Account is $100.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $100.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Machias Savings Bank My MSB Savings Account offer?
Machias Savings Bank My MSB Savings Account offers a variable APY starting at 0.15% and ranging up to 0.25% (APY stands for annual percentage yield, rates may change).
What fees does Machias Savings Bank My MSB Savings Account charge?
- Outgoing domestic bank transfers come with a $15.00 fee.
- Incoming domestic bank transfers come with a $15.00 fee.
- Outgoing international bank transfers come with a $50.00 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 $15.00 fee.
- Machias Savings Bank My MSB Savings Account charges a $10.00 fee for an early account closure. Contact Machias Savings Bank My MSB Savings Account for more details on what is considered an early closure.
- An overdraft on your account will trigger a $5.00 fee per item.
Does Machias Savings Bank My MSB Savings Account charge overdraft fees?
Yes, Machias Savings Bank My MSB Savings Account charges a $5.00 overdraft fee.What features and perks does Machias Savings Bank My MSB Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - Machias Savings Bank My MSB Savings Account allows you to manage your money online or with a mobile app.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Machias Savings Bank My MSB 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 Machias Savings Bank My MSB Savings Account?
The customer support email for Machias Savings Bank My MSB Savings Account is customerservice@machiassavings.com.
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Hours of Operation
Sunday
Closed
Monday
8:00AM - 4:00PM
Tuesday
8:00AM - 4:00PM
Wednesday
8:00AM - 4:00PM
Thursday
8:00AM - 4:00PM
Friday
8:00AM - 5:00PM
Saturday
Closed