At Exchange Bank, we believe in delivering Excellence in Every Exchange.
At Exchange Bank, we are committed to delivering Excellence in Every Exchange, especially when it comes to your savings. Our personal savings accounts are designed to help you achieve your financial goals, whether you're planning for a rainy day or saving for something special. With a variety of options to choose from, we offer accounts that provide security, flexibility, and the opportunity to grow your savings with ease.
Explore our savings account comparison table to review and compare all of our offerings. Excellence starts with smart choices, and we're here to help you select the account that aligns with your financial plans.
Once you've found the perfect savings account, you can apply online with just a few clicks or visit one of our branches to open an account in person. After reviewing the comparison table, follow the link provided below to start your online application and experience Excellence in Every Exchange.
Exchange Savings |
Exchange Money Market |
|
|---|---|---|
| Minimum deposit | $100 | $100 |
| Minimum daily balance fee |
$15.00
(imposed quarterly) The fee is waived with a minimum daily balance of $300. The fee is waived with an average daily balance of $500 for the quarter. |
$9
(imposed monthly) The fee is waived with a minimum daily balance of $2,000.
The fee is waived with a minimum daily balance greater than $25,000 in any combination of checking, savings, or certificate of deposit, regardless of the balance in your Exchange Money Market account. |
| Limitations | A $5.00 excess debit fee will be charged for each debit over 6 per quarterly statement cycle. | A $5.00 excess debit fee will be charged for each debit over 6 per monthly statement cycle. |
|
Electronic statements
|
Yes | Yes |
| Mobile Deposit | Yes | Yes |
| Interest bearing account |
Yes
You must maintain a minimum daily balance of $200 to obtain the annual percentage yield. Interest-bearing account compounded quarterly and credited quarterly |
Yes
Interest-bearing account compounded monthly and credited monthly |
| Tiered interest rate | NA | Yes (Contact us for current rate information.) |
Rate information on interest accounts: The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for non-cash items (for example, checks). If the account is closed before interest is credited, you will not receive the accrued interest. Fees may reduce earnings on interest accounts.
Balance information on interest accounts: We use the daily balance method to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day. The average daily balance is calculated by adding the principal to the account for each day of the period and dividing that figure by the number of days in the period.
Looking to Add Someone to Your Account?
If you’ve opened an individual account and would like to add a joint owner, we’re here to assist. You’ll need to provide the following information on their behalf:
- Full legal name
- Last four digits of their Social Security Number
- Contact information so we can follow up with next steps
If the person you’re adding is under 18, simply stop by one of our branch locations, and our team will be happy to help you complete the process.
