Redwood Capital Bank Basic Savings Account

Redwood Capital Bank Basic Savings Account Review

Redwood Capital Bank Basic Savings Account is offered by Redwood Capital Bank, a bank founded in 2003 and based in Eureka, CA. Redwood Capital Bank Basic Savings Account are available in 1 state across the USA.

Key Takeaways

• $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.

Redwood Capital Bank Basic Savings Account Pros & Cons

Redwood Capital Bank Basic Savings Account FAQ

Are savings accounts from Redwood Capital Bank federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #57610). 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 Redwood Capital Bank offer a signup bonus?

Redwood Capital Bank Basic Savings Account doesn't offer a signup bonus.

What is the minimum initial deposit for Redwood Capital Bank Basic Savings Account?

What APY does Redwood Capital Bank Basic Savings Account offer?

Redwood Capital Bank Basic Savings Account is not an interest-bearing account.

What fees does Redwood Capital Bank Basic Savings Account charge?

Redwood Capital Bank Basic Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $300.

What features and perks does Redwood Capital Bank Basic Savings Account offer?

This savings account includes the following features:

Can you set up a direct deposit to Redwood Capital Bank Basic 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 Redwood Capital Bank Basic Savings Account?

The customer support email for Redwood Capital Bank Basic Savings Account is inquiries@redwoodcapitalbank.com.