Available for residents nationwide, MyBankingDirect offers an High Yield Savings Account with 1.25% APY.
Continue reading below to learn everything you need to know about MyBankingDirect.
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About MyBankingDirect High Yield Savings Review
My Banking Direct was created by NYCB in order to offer higher annual percentage yields on Money Market and Certificate of Deposit (CD) accounts. By avoiding overhead costs created by branches, the bank can offer higher yields through its online platform. Money markets accounts offer interest rates that are usually among the best in the country and have an initial minimum deposit requirement. DepsositAccounts.com has recognized these Money Market accounts several times in the past. CDs also offer some of the best rates in the country.
With such great High Yield Savings rates you can earn big! It provides members with an opportunity to take advantage of high-yield savings products.
I’ll review MyBankingDirect High Yield Savings below.
Note: Interested in Bank Bonuses? See our favorite banks including HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.
MyBankingDirect High Yield Savings 1.25% Rate
To earn MyBankingDirect competitive rate, simply complete all the requirements. That’s all it takes and you’ll get to enjoy earning the 1.25% rate.
- Account Type: High Yield Savings Account
- Interest Rate: 1.25% APY
- Minimum Balance: $1
- Maximum Balance: None
- Availability: Nationwide
- Credit Inquiry: Unknown
- Opening Deposit: $500
- Credit Card Funding: Unknown
- Monthly Fee: None
- Early Termination Fee: Penalty for early withdrawal not specified
(FDIC Insured)
American Express® High Yield Savings Account - You earn a competitive interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why: *No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account. *1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two. *No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest. Some other features from American Express® High Yield Savings account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month. |
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Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend. |
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| PROMOTIONAL LINK | OFFER | REVIEW |
| Discover Bank Online Savings | $200 Bonus + 1.10% APY | Review |
| Aspiration | $150 Bonus + 1.00% APY | Review |
| CIT Bank Money Market | Amazon Prime($139 value) + 1.00% APY | Review |
| Axos Business Savings | $200 Bonus + 0.20% APY | Review |
| UFB Money Market Account | 1.66% APY | Review |
| UFB Savings | 1.66% APY | Review |
| Quontic Bank High Yield Savings | 1.58% APY | Review |
| Quontic Bank Money Market | 1.50% APY | Review |
| CIT Bank Savings Connect | Up to 1.35% APY | Review |
| American Express® High Yield Savings account | 1.00% APY as of 6/29/22 | Review |
| Axos Bank High Yield Savings | Up to 0.61% APY | Review |
MyBankingDirect ACH Capabilities and Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | ? | ? | |
| Pull | ? | ? | ? |
How to Earn MyBankingDirect Rate
- Click on the Open Account button and apply for an High Yield Savings Account
- Input your info – Provide your name, address, phone, email and social security number or Tax ID
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank
- The minimum opening deposit is $500.
| Balance Requirement | APY Rate |
| $1.00 — $9,999.99 | 1.25% APY |
| $10,000.00 — $49,999.99 | 1.25% APY |
| $50,000+ | 1.25% APY |
Why You Should Sign Up For This Account
- NYCB Online
- NYCB Mobile with mobile deposit
- View e-Statements and e-Documents
- Save more by setting up reoccurring deposits
- NO monthly or maintenance fees.
- Interest earned on daily balances of $1 or more.
- Interest is credited monthly.
Bottom Line
Check out this offer from MyBankingDirect and open an High Yield Savings Account to earn a 1.25% APY rate today! All it takes is $1 to earn the APY rate, and with no limits you can earn as much as you can!
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on MyBankingDirect High Yield Savings Account.
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