Alma Bank offers limited account options for people who tend to keep high balances. To find out if Alma Bank is right for you, continue reading the review below.
Although they don’t have a large variety of checking or savings accounts, they do offer relationship accounts to increase your earnings.
Table of Contents
- 1 Checking Account Options
- 2 Compare Checking Accounts
- 3 Savings Account Options
- 4 Compare Savings Accounts
- 5 Money Market Account Options
- 6 Compare Money Market Accounts
- 7 CD Account Options
- 8 Compare CD Accounts
- 9 Reasons to Bank with Alma Bank
- 10 Reasons Not to Bank with Alma Bank
- 11 Alma Bank Routing Number
- 12 Contact Customer Service
- 13 How Alma Bank Compares
- 14 Bottom Line
Checking Account Options
Alma Bank has a few checking accounts with varying opening deposits and balance requirements.
Their checking accounts come with the standard features that most accounts have.
This is a standard checking account that only requires $10 to open.
There are no monthly fees nor minimum balance requirements.
This interest bearing account will need an minimum deposit of $100 to open.
There is a $10 monthly fee, but you can waive it by keeping a daily balance of $500.
A premium interest bearing account that requires a higher deposit of $1,000 to open, but it earns competitive rates.
Keeping a daily balance of $1,000 will also waive the $10 monthly fee.
You can create a relationship account if you link this checking account to a Personal Premier Savings account.
Compare Checking Accounts
Open your Huntington 25 Checking account today and enjoy:
• $300 bonus by making cumulative new money deposits of at least $25,000 within 60 days of account opening. $500 will be deposited in your new account within 14 days of meeting requirements.
• 24-Hour Grace Overdraft Fee Relief. It is designed to give you more time to make a deposit in order to avoid an Overdraft Fee.
• Earn Interest on Balances. 0.05% Annual Percentage Yield applies to all balance tiers.
• Free ATM Withdrawals. They’ll waive all non-Huntington ATM cash withdrawal fees at any ATM and reimburse you for some withdrawal fees charged by another ATM owner.
• Waived Monthly Maintenance Fee
• Credit score and identity monitoring at no added cost
Savings Account Options
Alma Bank only has two savings accounts, but they both earn competitive interest rates.
A basic savings account that requires at least $100 to open.
Maintain a daily balance of $100 also can waive the $10 monthly fee.
This premium savings account can be linked with your Premier Checking account in order to maximize your earnings.
There is a much larger opening deposit of $10,000 but this account earns competitive interest rates for being a relationship account.
You will also have to maintain a daily balance of $10,000 in order to waive the $15 monthly fee.
Compare Savings Accounts
With the CIT Bank Savings Builders account:
• Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn 0.40% APY on your funds - grow your savings faster.
• Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate.
• FDIC Insured
With the American Express® High Yield Savings Account:
• Earn 0.40% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• No monthly fees, no minimum balance.
• 24/7 Account Access
Open a Discover Online Savings Account for all these features:
• Bonus offer applies for your first Discover Online Savings Account
• Earn $200/$150 Bonus with promo code HMB21 by 12/15/2021
• Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus
• Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus
• Earn high interest rate of 0.40% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
See advertiser website for full details
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard.
Alma Bank has one money market account that earns competitive interest rates.
ALMA Personal Money Market:
- You will need a minimum deposit of $1,000 to open this account and earn interest
- There is a $15 monthly fee, but it can be waived with a daily balance of $1,000
- Has unlimited deposits
- Access to all online and telephone banking
Compare Money Market Accounts
• Earn 0.25% APY with the Axos Bank High Yield Money Market
• FDIC Insured
• Check writing privileges
• No monthly maintenance fees
• No minimum balance requirements
• Debit card transactions
• Minimum Balance Required to Open the Account: $ 1000.00
• Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 0.35% APY balances $100,000 and over
• Earn 0.30% APY balances under $100,000
• Open with as little as $2,500.
• No hidden fees. No surprises.
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 0.45% APY on your funds
• One of the nation's top rates — several times the national average.
• Get up to 6 digital transfers/withdrawals per statement cycle
• Save smart and get more for your money
• Higher rates than traditional banks
• Get 24/7 Account Access
• Secure banking features
• Open with as little as $100
• FDIC insured
CD Account Options
Alma Bank offers CDs that earn really high, competitive interest rates. You can open each CD with $1,000.
These terms are available from 1 month to 5 years. To view rates and other information, click here.
The CDs will also automatically renew upon maturity.
Compare CD Accounts
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 0.20% APY up to 1.00% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
• Available online nationwide
• Earn 0.30% APY on a 12-Month CD Term
• Earn up to 0.50% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
With the CIT Bank No-Penalty 11-Month CD:
• Earn 0.30% APY on your funds with just a $1,000 minimum deposit.
• The perfect balance between a great fixed rate and flexible money access.
• Access funds, if needed. No penalty.
• No opening or maintenance fees
• Shorter 11-month timeframe and a great APY
• If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them.
Reasons to Bank with Alma Bank
- They offer relationship accounts for their premium checking and savings accounts.
- Ideal for those who have pocket money and want a savings account that can earn them competitive rates.
- Their savings and money market accounts earn a pretty high APY.
- Conduct all your banking online or with the Alma Bank mobile app.
- They offer a 24-hour banking telephone service line.
Reasons Not to Bank with Alma Bank
- They are only located in New Jersey and New York with 13 branches in total.
- Their Premium Personal Savings account has a high opening deposit and minimum balance requirements.
- Their monthly fees are higher than most banks.
- Lacking a student checking or savings account.
- Doesn’t offer a senior checking or savings account either.
Alma Bank Routing Number
The routing number for Alma Bank is 026014384.
Contact Customer Service
Alma Bank has a 24/7 banking phone line that you can reach at 866-424-8229.
Their business hours are based on locations so you can also check their website for when they are open.
How Alma Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Discover Bank: Discover Bank is also an online nationwide bank that offers bonuses for their checking and savings accounts! You can earn cash back rewards when you open a checking account and generous bonuses for opening a savings one.
- Wells Fargo: Located throughout the US with over 5,800 branches and 13,000 ATMs. They offer a variety of deposits accounts, including accounts for teens and customers who need a second chance.
A lot of Alma’s personal accounts require a pretty high opening deposit and sometimes even higher minimum balance requirements, but that isn’t an issue with those have a lot of extra cash.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If Alma Bank has the variety and options you’re looking for, apply today! For more options from a variety of banks, see our list of the best bank promotions!