Review
Updated
The Prime Alliance Bank Personal Savings account should be a contender for anyone who wants a competitive APY and few fees or restrictions. This in-depth Prime Alliance Bank Personal Savings review covers the essentials so you can figure out if it's right for your needs.
Ratings Methodology
Rates as
of May 16, 2024
Prime Alliance Personal Savings
Member FDIC.
Rating image, 3.25 out of 5 stars.
3.25/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Best
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= Excellent
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= Good
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= Fair
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= Best
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Rating image, 3.25 out of 5 stars.
3.25/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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![]()
![]()
![]()
= Best
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![]()
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= Excellent
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= Good
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= Fair
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= Poor
= Best
= Excellent
= Good
= Fair = Poor
APY
4.50% (variable)
Min. To Earn APY
$0
- Earn interest on all account types
- Competitive APYs
- No monthly fees
- No minimum balance to earn interest
- Only one physical bank location
- Limited customer service hours
High-yield savings account comparison
We recommend comparing high-yield savings account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
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New customers can earn up to a $300 bonus with qualifying direct deposits!
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Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.00% APY for balances of $5,000 or more
Rate info
5.00% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000 for max APY
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N/A
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Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.26%
Min. to earn: $1
|
N/A
|
Prime Alliance Personal Savings interest rate
| Account | APY | Minimum Deposit |
|---|---|---|
| Prime Alliance Personal Savings | 4.50% (variable) | $0 |
Data source: Prime Alliance Bank.
Prime Alliance Bank offers a solid APY on its savings account, and you don't even need a minimum deposit to open the account. You do need at least $1 to earn interest -- but you won't pay a monthly fee that eats into your earnings
Full Prime Alliance Personal Savings review
Top perks
Competitive APY: The Prime Alliance Personal Savings account offers one of the more competitive APYs we've come across.
No monthly maintenance fees: You won't pay a monthly fee to own a Prime Alliance Bank Personal Savings account, no matter what your balance is. Maintenance fees can eat into your profits, so this account is a good fit for those who don't want to worry about this.
No minimum balance requirements: You can keep as much or as little money as you'd like in your Prime Alliance Bank Personal Savings account, though you need at least $1 in order to earn interest.
Bank from anywhere: Prime Alliance Bank doesn't have any physical branches, but its Personal Savings account comes with online and mobile banking tools, including mobile check deposit, so you can manage your account from anywhere.
What could be improved
ATM cards: The Prime Alliance Bank Personal Savings account doesn't come with ATM cards or any other way to directly withdraw cash, which is not unusual for an online savings account. If you have a Prime Alliance Bank checking account, you can instantly transfer your savings there and then use your checking account debit card to get your cash.
How to access your money
You can access the funds in your Prime Alliance Bank Personal Savings account in the following ways.
Deposit options
Prime Alliance Bank enables customers to deposit money using any of these methods:
- Electronic transfer
- Wire transfer
- Mobile check deposit
If you'd like to use mobile check deposit, you will have to download Prime Alliance Bank's mobile app for iOS or Android devices.
Withdrawal options
You can withdraw your money using one of these options:
- Electronic transfer
- Wire transfer
There is a limit of $50,000 per external transfer initiated through Prime Alliance Bank's website and a $250,000 monthly transfer limit. If you need to initiate a larger transfer, contact Prime Alliance Bank.
The Prime Alliance Bank Personal Savings account is right for you if:
The Prime Alliance Bank Personal Savings account is a great fit for anyone looking for a high APY with no monthly fees. As long as you don't need to quickly withdraw cash directly from your savings account, you should be pretty happy with the Prime Alliance Bank Personal Savings account.
Keep reading about Prime Alliance Bank
- Prime Alliance Bank Review
- You want a competitive APY.
- You're comfortable with online banking.
- You want an account without monthly or transfer fees.
- You have more than $100 to save.
Read more about Bread Financial
Our savings account methodology
At The Motley Fool Ascent, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.
Our scores are weighted as:
- APY: 50%
- Brand and reputation: 20%
- Fees and minimums: 15%
- Other perks: 15%
Learn more about how The Motley Fool Ascent rates bank accounts.
Our Banking Expert
Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
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