Last Updated: 04/18/2025
OneLocal Bank Statement Savings Account
Unaffiliated
in Savings Accounts from OneLocal Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.10%(Verified 12/17/2024)
Minimum Opening Deposit
$25
Minimum Balance to Earn APY
$0.01
OneLocal Bank Statement Savings Account Review
OneLocal Bank Statement Savings Account is offered by OneLocal Bank, a bank founded in 1889 and based in Norwood, MA. OneLocal Bank Statement Savings Account are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.10%.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No ATM fees. OneLocal Bank Statement Savings Account does not charge fees on ATM transactions .
OneLocal Bank Statement Savings Account Pros & Cons
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OneLocal Bank Statement Savings Account FAQ
Are savings accounts from OneLocal 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 OneLocal Bank offer a signup bonus?
OneLocal Bank Statement Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for OneLocal Bank Statement Savings Account?
The minimum deposit to open a OneLocal Bank Statement Savings Account is $25.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $25.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Required Balance | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does OneLocal Bank Statement Savings Account offer?
OneLocal Bank Statement Savings Account offers an APY of 0.10% (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 OneLocal Bank Statement Savings Account charge?
OneLocal Bank Statement Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $20.00 fee.
- Incoming domestic bank transfers come with a $10.00 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 $10.00 fee.
- An overdraft on your account will trigger a $22.00 fee per item.
Does OneLocal Bank Statement Savings Account charge overdraft fees?
Yes, OneLocal Bank Statement Savings Account charges a $22.00 overdraft fee. OneLocal Bank Statement Savings Account offers overdraft protection at a cost of $2.00 per transaction. This overdraft protection fee is charged every time the bank arranges a transfer from another one of your accounts, typically a savings account, to cover the overdraft.
What features and perks does OneLocal Bank Statement Savings Account offer?
This savings account includes the following features:
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - OneLocal Bank Statement 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 OneLocal Bank Statement 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 OneLocal Bank Statement Savings Account?
The customer support email for OneLocal Bank Statement Savings Account is customersupport@onelocalbank.com.
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Hours of Operation
Sunday
Closed
Monday
8:30AM - 4:00PM
Tuesday
8:30AM - 4:00PM
Wednesday
8:30AM - 4:00PM
Thursday
8:30AM - 4:00PM
Friday
8:30AM - 4:00PM
Saturday
8:30AM - 12:30PM