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Prime Alliance Bank Savings Review

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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.

Rates as of Aug. 5, 2022

Prime Alliance Personal Savings

  • Earn interest on all account types
  • Competitive APYs
  • No monthly fees
  • No minimum balance to earn interest
  • Little information about customer service

Top perks

Competitive APY: The Prime Alliance Bank Personal Savings account offers one of the more competitive APYs we've come across at 0.80%. But keep in mind that it's not as high as the best online savings accounts.

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.

Alternatives to consider

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.

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