American Momentum Bank is a standard brick and mortar bank with a fair amount of account options. To find out if American Momentum Bank is right for you, continue reading the review below.
Originally started in College Station, Texas, American Momentum Bank now has locations in both Texas and Florida.
This bank has a lot of various kinds of account to earn interest, even children and senior citizens can earn interest without having to worry about monthly fees!
Checking Account Options
American Momentum Bank has a great selection of checking accounts that all offer pretty good benefits.
This is a standard checking account that can be opened with a $100 deposit.
There are no monthly fees nor minimum balance requirements either since this account doesn’t earn interest.
This account also comes with a Visa® Debit Card, access to all online and mobile banking and ATMs.
This is an interest bearing checking account and you can open it with $100.
You also need a minimum daily balance of $1,000 if you want to avoid the $10 monthly fee.
You can earn interest on all balances.
This checking account rewards you when you sign up for direct deposits. It will still require $100 to open however.
If you deposit one ACH direct deposit each month, you can avoid the $10 monthly fee.
This account also comes with previous benefits the other checking accounts already have.
This interest bearing account is for those who have generally higher balances. This account demands a bit more than others so it requires $5,000.
You need a minimum daily balance of $25,000 to avoid the monthly fee.
This account is for ages 62 or older. With just $100, you will have access to luxurious benefits that other checking accounts have.
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Savings Account Options
American Momentum Bank has a small variety of savings accounts, but they have low minimum opening deposit and low requirements.
This is a standard savings account and will require $100 to open.
If you keep a daily balance of $100, you can avoid the monthly fee of $3.
The interest is also compounded daily.
This account is available to students that are 18 years old and under.
There are no monthly fees nor minimum requirements to worry about, and this account earns interest.
The account will convert to a Classic Savings account when the child turns 19.
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 With the American Express® High Yield Savings Account: • Earn 4.25% APY as of 4/25/24 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 |
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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 Momentum Bank has one money market that earns competitive interest rates.
American Momentum Money Market:
- Open this account with $100
- Waive the $10 monthly fee by keeping a minimum daily balance of $1,000
- Interest is credited monthly
- eStatements
- Up to 6 checks/debit items per month
- Online banking and mobile banking
- +50% discount on first-year rental of a safe deposit box
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CD Account Options
American Momentum Bank offers CDs with competitive rates. These CD terms range from 91 days to 5 years and requires $1,000 to open.
To find more about their CDs, click here.
The CDs will automatically renew upon maturity.
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Reasons to Bank with American Momentum Bank
- They have reasonable minimum balance requirements for the accounts that do have them.
- They have low monthly fees and minimum balance requirements.
- All their accounts may come with similar benefits, but they are still pretty decent.
- They have a youth savings account.
- They have senior checking account.
- Conduct all your banking online (recommended) or through the American Momentum Bank mobile app.
Reasons Not to Bank with American Momentum Bank
- They are only located in Texas and Florida.
- Their customer service is not 24 hours.
- They don’t offer relationship accounts.
- There’s no youth/student checking account even though there is a youth savings account.
- Their Gold Interest Checking account requires a pretty high opening deposit and minimum balance requirements.
- They could have higher interest rates on certain accounts.
- They have a low variety of savings accounts compared to their checking accounts.
American Momentum Bank Routing Number
The routing number for American Momentum Bank varies depending on state and regions.
You can check the lower left corner of your American Momentum Bank check to find it.
Contact Customer Service
You can reach American Momentum Bank at (866) 530-2265.
Their business hours vary on location, for more information about them you can check out their website.
How American Momentum 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.
- Huntington Bank: Huntington offers a variety of account options to choose from. Right now, Huntington is offering bonuses when you sign up for select checking accounts, including business ones!
- 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.
Bottom Line
If you are looking for a pretty standard bank and happen to reside in either Texas or Florida, then perhaps American Momentum Bank will have the options you are looking for.
Most of their accounts seem reasonable, unless you plan to invest in the Gold Interest Checking account which requires a higher balance. But, all other accounts for the most part have consistent opening deposits and benefits.
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 American Momentum Bank, then apply today! For more options from a variety of banks, see our list of the best bank promotions!