When opening a checking or savings account, what are the features and benefits that you expect the most? While you won’t find the best interest rates, you’ll experience terrific customer service and get a wide variety of benefits when opening an account. To find out if Associated Bank is right for you, continue reading this review below.
Associated Bank is a regional bank, it’s one of the larger regional banks throughout the country. They are big on relationship banking, offering premium rates to consumers who open an Associated checking account alongside their savings or investment account.
Checking Account Options
Associated Bank offers 2 checking accounts, both accounts come standard with online banking, online bill pay, and mobile banking. You also get preferred rates on CDs and money markets, and a free Associated Bank Debit Mastercard.
Associated Checking is for consumers who want a lot of benefits, but won’t keep a large balance in their checking account.
To waive the monthly free on the account, you need at least a $500 monthly direct deposit, $1,000 minimum daily balance, or combined a deposit balance of $2,500 in all deposit accounts at Associated Bank.
You’ll have access to more than 25,000 ATMs in the MoneyPass network and the ability to enroll in overdraft protection. However, this account doesn’t earn interest.
If you want to earn interest on your checking account balance, you can open an Elite checking account instead. You’ll be able to get your overdraft fees waived, have up to four linked savings accounts (free of charge), and have access to free personal checks, money orders and traveler checks.
You can also use non Associated Bank ATM without a surcharge fee. To waive monthly fees, you’ll need a minimum $10,000 balance across all Associated Bank deposit accounts.
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Savings Account Options
Associated Bank makes it possible for everyone to start savings money. Whether you want a basic savings account or high-yield interest rates, Associated Bank offers a variety of choices.
To open an Associated Savings account, you will need $25 as a starting balance. If you have an Associated Checking account, you’ll get preferred interest rates. You will have to keep a daily balance of $200 or have an automated deposit of at least $25 each month to waive the monthly service fee.
You can access your money online, over the phone, or at an Associated Bank or MoneyPass ATM.
Associated Bank also offers a Health Savings Plan for consumers with a qualified High Deductible Insurance Plan. The HSA Plus is a tax advantage account that helps you grow your funds while they sit in the account.
If you seek medical care, the money inside your HSA account can be used to pay the costs. The qualified withdrawals are tax free. Associated Bank offers online and mobile access to your funds, an HSA debit card, and access to representatives who can help you.
You can open a money market account that pays slightly high interest rates with just $1,000. You will, however, need to maintain that balance to waive the monthly service fee. As you save more money, your interest rate grows. Associated Bank offers five interest rate tiers for this account.
Even though it’s technically a savings account, you get access to checks and preferred rates as long you have an Associated Bank checking account. You are limited to six withdrawals per statement cycle.
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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 up to 1.00% 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 4.00% APY as of 5/31/23 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
Open a Discover Online Savings Account for all these features:
• Earn $200/$150 Bonus with promo code HMB223 by 06/15/2023
• Earn high interest rate of 3.90% 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
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code HMB223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice.
• Earn up to 0.61% APY with interest compounded daily and no monthly fees with the Axos Bank High Yield Savings account
• No minimum balance requirements
• Free ATM card upon request
• $250 minimum opening deposit
• Free Incoming Wires
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 3.85% APY balances $100,000 and over
• Earn 3.80% 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 1.55% 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
Down below are how you can earn a higher interest rate by obtaining a CD account with Associated Bank.
Invest at least $1,000 and you can choose terms between 3 and 60 months at Associated Bank on this fixed CD rate. You’ll earn interest quarterly and you can’t make additional deposits until the maturity date is up.
The CD automatically renews at maturity, but you have a 10-day grace period to withdraw the funds without a penalty.
If you have $5,000 to invest, you can choose from 7-,13-,26-,42-, or 61-month terms. You can earn promotional interest rates on your money and have access to you interest quarterly, as long as you invest the minimum amount of $5,000. Upon maturity, the CD will roll into a standard CD.
If you don’t have a large sum of money to invest at the moment, the Add-On CD may help. You start with $100 and deposit more money through the 12 month term.
You can earn interest quarterly and the CD automatically renews at maturity unless you withdraw the funds during the 10 day grace period.
If you have a large sum of money to invest for a short time and want a guaranteed return, then this account is for you. You’ll need a minimum of $40,000 to invest and it’s only term is for 30 days. It renews upon maturity, but you have a 10 day grace period to withdraw the funds without penalty.
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• 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 2.00% APY up to 4.75% 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 up to 5.00% 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!
Associated Bank offers retirement accounts for those who need a simple savings account to manage their money.
You can start saving for retirement with $100. This account pays variable interest rates and allows additional deposits at any time. You can set up automatic deposits from your Associated Bank checking account to make savings easier.
Earn a fixed rate return on your deposit by investing at least $1,000 in IRA starting from 3 to 60 months CD. It renews automatically at the end of the term, but you have a 10-day grace period to withdraw the funds to invest in another IRA.
Invest $1,000 for 12 months and receive a fixed rate of return. You can also add to your deposit at any time, increasing your retirements funds. You can set up automatic deposits from your Associated Bank checking account.
You’ll earn interest quarterly and the account will automatically renew upon maturity unless you withdraw the funds during the 10-day grace period.
Reasons to Choose Associated Bank
- You can earn cash back for everyday purchases. You can activate offers for stores and restaurants you frequent through your banking portal. Once activated, all you need to do is use your Associate Bank debit Mastercard and you’ll earn your cash back.
- Associated Bank’s customer service representatives are available 365 days a year. If you have any questions, you will be able to get your answer quickly.
- You get 2 free non-Associated Bank ATM transactions per month with the Associated Savings account.
- If you snap a picture of our bill, the app will save it. Additionally, you can also set up automatic payments or make manual payments via the mobile app or online banking portal.
- You can check your balances without logging into the app, all you have to do is tap your finger on the app and it shows your balance.
- Their ATM is nationwide, so you can find network ATM’s throughout the country. This can save you money on fees charged to access your own money.
- You can pay friends and family from you mobile phone, all you need is the email address or cell phone number of your recipient.
- If you want to check if your balance is low, when a large transaction is posted to your account or when someone accesses your account, you can set up email and text alerts to prevent something fraudulent from happening in your account.
- You can set up expedited bill payments which means if you forget about a bill, you can have the peace of mind that you can send the payment fast and avoid negative consequences.
- You can track your expenses and manage your budget with Trends. This online financial management tool helps you categorize expenses, monitor income, and set budgets.
Reasons to Not Choose Associated Bank
- You must live in Wisconsin, Illinois, or Minnesota to take advantage of Associated Bank’s benefits.
- You can only earn interest on one checking account. Only the Elite checking account offers interests and you need a minimum of $10,000 to open it.
- You need to keep a close eye on your account balances or risk paying a monthly service fee.
Associated Bank Routing Number
The main routing number is 075900575. Since this is an online only bank, they only have one specific routing number
Contact Customer Service
You can reach Associated Bank Customer Service at 1 (800)-236-8866. They are open 24/7.
How Associated 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.
- Bank of America: As one of the larger banks in the U.S. Many may choose BoA for the convenience of locations through out 35 states. However, BoA offers limited account options.
- Regions Bank: While the checking options are similar, there is a wider variety of savings, CDs, & IRA options to help you save. The cash back rewards program is also very similar. You can find Regions Bank across 15 states.
- Wells Fargo: They have various accounts and many more ways that you can waive your monthly maintenance fee, such as making 10 debit card purchases per month or receiving at least $500 in monthly direct deposits.
Compare to Other Banks
If you’re looking for a basic checking or savings account in which to put a large amount of money for a while, then Associated Bank is for you. Especially if you live in the Midwestern area, since its reach isn’t far, but they have an ATM network that is large enough that Midwesterners can avoid ATM fees.
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 you’re interested in banking with Associated Bank, see what they have to offer through Associated Bank Promotions! And while you’re here on HMB, check our full list of Best Bank Promotions for more options!
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