Prime Alliance Bank Personal Savings Accounts

Prime Alliance Bank Personal Savings Accounts Review

Prime Alliance Bank Personal Savings Accounts is offered by Prime Alliance Bank, a bank founded in 2004 and based in Woods Cross, UT. Prime Alliance Bank Personal Savings Accounts are available in 50 states (and Washington, DC).

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 2.70%, which is much higher than the average interest rate for a savings account.
• No minimum initial deposit. There is no minimum balance required to open an account online.

Prime Alliance Bank Saving Account Pros & Cons

Pros	Cons
Available in all 50 states. High variable APY.	No signup bonus. Does not provide access to a nationwide ATM network. Does not come with a debit card

Prime Alliance Bank Saving Account FAQ

Are savings accounts from Prime Alliance Bank federally insured?

Yes, your Prime Alliance Bank savings accounts are insured up to $250,000 per person 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 Prime Alliance Bank offer a signup bonus?

Prime Alliance Bank Saving Account doesn't offer a signup bonus.

What is the minimum initial deposit for Prime Alliance Bank Saving Account?

There is no minimum deposit to open a Prime Alliance Bank Saving Account.

Prime Alliance Bank Personal Savings Accounts Minimums

Description
Minimum Balance to Avoid Monthly Fee	$0
Minimum Opening Deposit	$0
Minimum Required Balance	$0

What APY does Prime Alliance Bank Personal Savings Accounts offer?

Prime Alliance Bank Saving Account offers an APY of 2.70% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

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 Prime Alliance Bank Saving Account charge?

Prime Alliance Bank Saving Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does Prime Alliance Bank Saving Account offer?

This savings account includes the following features:

Can you set up a direct deposit to Prime Alliance Bank Saving 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 Prime Alliance Bank Saving Account?

The customer support email for Prime Alliance Bank Saving Account is info@primealliancebank.com.