Apple Bank Review 2024
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Apple Bank is best for people in New York who are looking for a competitive savings yield and a free checking account at a brick-and-mortar bank.
Highlights
- High APY
- Free Checking
- Highly Rated App
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
New York-based Apple Bank is known for offering competitive yields on savings products. It has about 44 locations in the New York City area. Its savings and money market accounts allow for unlimited transactions, but better yields on money market accounts can be found elsewhere.
Pros
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Apple Bank offers competitive yields on savings accounts and CDs for a brick-and-mortar branch.
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Atypical for most banks, Apple Bank’s savings and money market accounts allow for unlimited transactions at a branch or ATM.
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Apple Bank’s apps have high ratings on both Apple’s App Store and Google Play.
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The checking account is free.
Cons
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Apple Bank has branch locations only in the New York City area.
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The money market account’s APY is low.
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Apple Bank banking products
Apple Bank savings overview
Customers get a debit card they can use to access funds in their savings account with no transaction limit. They also get reimbursed up to four times a month for non-Apple Bank ATM transactions both domestic and international.
Pros
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Savers will earn a competitive yield on all balances.
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There is no monthly fee.
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Account holders can make unlimited debit card transactions.
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Up to four out-of-network ATM transactions are reimbursed each month.
Cons
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You can still find a couple of other banks that offer a slightly higher APY.
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Apple BankAPYAPY last updated between 11/12 and 11/18.APYAPY last updated between 11/12 and 11/18.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $35 on overdrawn amounts of $50 or more |
| Monthly maintenance fees | None |
| Out-of-network ATM fee | $2 |
| Excessive transaction fee for money market account | $20, except for transactions made at a branch or ATM |
| Excessive transaction fee for savings account | None |
Bank experience
Highly rated app. Customers who want to bank virtually can use the Apple Bank app, which is available on Apple’s App Store and Google Play and has good ratings on each. The app comes with some helpful digital features including mobile bill payment, mobile check deposit and access to account statements.
Customer service. The bank’s customer service phone line is available from 8 a.m. to 8 p.m. ET on weekdays and 8 a.m. to 2 p.m. ET on weekends. Customers can also reach out to the bank via Facebook and LinkedIn.
Financial management tools. With Apple Bank’s online banking service, customers can manage multiple accounts, including external accounts, in a single place. The financial management hub includes visual representations of spending, budgets and debts.
About Apple Bank
Apple Bank emerged from the 1983 merger of Harlem Savings Bank and Central Savings Bank, which have been around since the mid-1800s. Today, the bank has around 44 branches, all located in the New York City area.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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