American Bank offers a decent amount of account options. To find out if American Bank is right for you, continue reading the review below.
There is a student/youth savings account that doesn’t take much to open nor maintain, so students can start saving towards their future at a young age.
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 American Bank
- 10 Reasons Not to Bank with American Bank
- 11 American Bank Routing Number
- 12 Contact Customer Service
- 13 How American Bank Compares
- 14 Bottom Line
Checking Account Options
American Bank has a good selection of checking accounts and most of them will earn you interest rates that can be compared to big banks
Their checking accounts come with the standard features that most accounts have.
This is a standard checking account that can be opened with $100.
There is a monthly fee of $5, but you can waive it by making 10 or more check card or point of sales purchases per statement cycle.
An interest bearing checking account that will require at least $100 to open.
There is a higher monthly fee of $12, but it can be waived by keeping a daily balance of $1,500.
The interest is paid monthly.
A high interest earning account that can be opened with once again $100.
Since this account earns competitive interest rates, you will need a minimum balance of $10,000 to start earning interest.
Managing to maintain a daily balance of $10,000 will also waive the $15 monthly fee.
Compare Checking Accounts
• New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
• Access to 16,000 Chase ATMs and more than 4,700 branches
• Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
• Open your account online now
• Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
• Chase Overdraft AssistSM: $0 overdraft fee when you overdraw your account $50 or less*
*We won't charge an overdraft fee if you are overdrawn $50 or less at the end of the business day. Chase may pay, for a $34 fee, overdraft transactions at our discretion based on your account history, deposits and transaction amount. If you've enrolled in Debit Card Coverage, everyday debit card purchases like groceries, may be approved at our discretion when you don't have enough money in your account.
Savings Account Options
American Bank has two main savings accounts, but they both earn pretty high interest rates.
This is a standard savings account that can be opened with $100.
There is also a monthly fee of $3.50, but if you keep a daily balance of $500, you can waive it.
The interest is paid monthly.
A youth savings account that is available to those 17 or younger and only requires $5 to open.
There is a quarter fee of $3 but it can be waived as long as you keep a daily balance of $5!
The interest is paid quarterly.
Compare Savings Accounts
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 HMB222 by 06/15/2022
• 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 0.60% 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
With the American Express® High Yield Savings Account:
• Earn 0.60% APY as of 4/28/22 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.
• 24/7 Account Access
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard.
American Bank has one money market account that earns competitive interest rates.
American Money Market:
- Open this account with just $100
- Interest is compounded monthly
- There is a $15 monthly fee, but you can waive it by keeping a daily balance of $2,500
- Earns high-yield money market rates
- Up to 6 free withdrawals per month
Compare Money Market Accounts
• 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 0.55% APY balances $100,000 and over
• Earn 0.50% 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 0.70% 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
American Bank offers CDs that earn really high, competitive interest rates. You can open each standard CD for $1,000, and each Jumbo CD for $100,000.
Standard CD and Jumbo CD terms both range from 30 days – 2 years.
To find out more information, you can call American Bank or 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 0.30% APY up to 2.50% 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!
Reasons to Bank with American Bank
- They have consistent opening deposits and not too difficult to maintain balance requirements.
- Their savings and money market accounts earn a pretty high APY.
- Has both standard and jumbo CDs available.
- Provides a youth/student savings account.
- Offers a 24-hour banking service line.
- Simplistic account options if you like simple.
- Conduct all your banking online or with the American Bank mobile app.
Reasons Not to Bank with American Bank
- They are only located in Texas with 12 branches in total.
- Lacking a youth savings account.
- Lack of senior checking or savings account.
- Doesn’t offer relationship accounts.
American Bank Routing Number
The routing number for American Bank varies based on regions or locations. To find your routing number, check the lower left hand corner of your American Bank check.
Contact Customer Service
You can reach American Bank at 800- 257-8316.
Their business hours are based on locations so you can also check their website for when they are open.
They also have a 24-hour automated banking service line that you can call at 800-257-8086.
How American 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.
If you live in Texas and aren’t looking for anything necessarily too complex to handle, then perhaps American Bank has the accounts you’re looking for.
All of their checking and savings account are pretty simplistic but still has some good benefits and earn high rates.
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 American 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!