My eBanc Bank Account Basics
My eBanc Checking
My eBanc’s Advantage Checking Account is an interest-bearing account offering a very competitive annual percentage yield or APY. Keep in mind there’s a $5,000 minimum opening deposit requirement, a hefty requirement compared to many online checking accounts. There’s no ongoing balance requirement to earn the APY.
The account comes with check-writing privileges, with no fee to write checks. Your first set of 50 checks is free. Customers also receive a complimentary debit card and fee-free access to ATMs within the Presto! ATM Network. These ATMs are located at all Publix stores. My eBanc also reimburses your first eight out-of-network ATM fees each monthly billing cycle.
The My eBanc Advantage Checking Account offers multiple ways to manage your money, including:
- Person-to-person transfers
- Online bill pay
- Mobile check deposit
- Online and mobile banking
- Interbank transfers
These services are provided at no charge. Should your average daily account balance fall below $5,000 during the statement cycle you’ll be charged a Below Minimum Balance Fee of $15, unless you maintain aggregate deposits of $5,000 or more across all your My eBanc accounts.
My eBanc eRelationship Savings Account
My eBanc’s only savings account is the eRelationship Savings Account.
To open an online savings account, the customer must have an existing My eBanc Time Deposit (CD account), or must open one at the same time the savings account is opened. Another caveat is that the savings account has a $25,000 minimum deposit requirement. If you can afford to open an account, you’ll get to take advantage of one of the highest savings APYs available. There’s no ongoing minimum balance required to earn the APY, although you could become subject to a monthly $15 Below Minimum Balance Fee.
The eRelationship Savings Account comes with either a debit card or an ATM card, depending on whether you also have a My eBanc checking account. There are no limitations on the number of withdrawals or deposits you can make to your savings account.
My eBanc SuperSaver Money Market
The SuperSaver Money Market Account is a hybrid high-yield bank account. Money market accounts typically come with the best features of checking and savings accounts. You can open a money market account with a $5,000 minimum opening deposit. There are no ongoing balance requirements to earn the APY, although you could become subject to a monthly $15 Below Minimum Balance Fee, unless your aggregate deposits allow you to waive the fee.
The account allows unlimited deposits and withdrawals. My eBanc money market accounts also come with either a debit card or ATM card, depending on whether you have a My eBanc checking account.
My eBanc money market accounts are supported by free online and mobile banking, which includes free online bill payment and free mobile check deposit. You’re limited to depositing four checks per day, up to $5,000 total, and 10 checks per month, up to $15,000 total.
My eBanc CDs
My eBanc is known for its high-yield CDs, which the bank refers to as online time deposits. There are three types of CDs available: Online Time Deposits, Jumbo Time Deposits and Flex Time Deposits.
My eBanc Online Time Deposit CDs
My eBanc Online Time Deposits require a $5,000 minimum deposit to open. That may be more money than many potential customers want to commit long term. Other banks offer similar CDs with lower deposit requirements. My eBanc offers some of the highest CD rates on the market, though.
Here are the rates for My eBanc online CDs:
| CD TERM | APY |
|---|---|
| 6 Months | 4.40% |
| 12 Months | 4.40% |
| 18 Months | 4.15% |
| 24 Months | 4.00% |
| 36 Months | 3.70% |
Like most banks, My eBanc doesn’t charge monthly maintenance fees on its CD accounts. Interest on My eBanc CDs is compounded daily and is credited at CD maturity. Online CDs are subject to penalties of up to nine months’ interest if you withdraw funds before the CD reaches maturity.
My eBanc Jumbo Online Time Deposit CDs
Jumbo Time Deposits are for those who plan to keep a large amount of money in a CD account. They require a $50,000 minimum deposit. Jumbo CDs come in five terms, ranging from six months to three years.
Here are the rates on My eBanc’s jumbo CDs:
| CD TERM | APY |
|---|---|
| 6 Months | 4.55% |
| 12 Months | 4.50% |
| 18 Months | 4.35% |
| 24 Months | 4.25% |
| 36 Months | 3.98% |
Jumbo CDs have no monthly maintenance fees.
My eBanc Flex Time Deposit CDs
Flex Time Deposits require a $10,000 minimum deposit to open. They come with one CD term length: 11 months. Earnings are based on your account balance.
- Balances of $100,000 and above: 3.30% APY
- Balances below $100,000: 3.19% APY
Flex CDs are unusual in that they allow customers to make two withdrawals during the CD term without paying an early withdrawal penalty. There are no monthly maintenance fees charged on Flex CDs.
My eBanc Mobile Banking
My eBanc customers manage CDs digitally through online and mobile banking.
My eBanc’s mobile app is available for iOS and Android. The mobile app receives a rating of 4.0 out of 5 stars on the App Store and shows no rating on Google Play. Through the mobile app, My eBanc customers can:
- Manage accounts
- Transfer money
- Deposit checks
Customers also have access to My eBanc’s online money management tool.
Compare My eBanc With Other Banks
My eBanc is an excellent option if you want access to competitive rates on CDs, money market accounts and savings accounts. There’s a bigger financial commitment because of high minimums, so only apply for an account if you can meet those requirements.
My eBanc isn’t a good fit if you prefer the in-person banking service of a traditional bank. And while the interest checking account includes plenty of convenient features for managing your money, the APY isn’t the best you could earn.
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Methodology
Forbes Advisor rates banks, credit unions and fintech companies based on various factors, including their fees, interest rates and ATM networks, among other characteristics. We assign separate ratings to financial institutions and their individual products, such as checking accounts, savings accounts and certificates of deposit (CDs). We rate banks using a scale of one to five stars, with one star as the poorest rating and five stars as the best.
To learn more about our review methodology and editorial process for rating products and institutions, visit our guide on How Forbes Advisor Reviews Banks.
Frequently Asked Questions (FAQs)
Is My eBanc FDIC insured?
Yes, My eBanc is FDIC insured as a division of Bradesco Bank (FDIC# 21265). The federal government protects your money up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.
Is My eBanc safe?
My eBanc takes security seriously. The online bank employs several security measures, including the latest encryption technology, to ensure customers’ money and personal information is protected.
Does My eBanc have local bank branches?
No, My eBanc is strictly an online bank. Customers have access to ATMs via the Presto! ATM network located in Publix stores. You can use Bradesco Bank ATMs but you can’t bank through local branches.
How do I contact My eBanc?
My eBanc support is available via phone at 855-512-0989. You can also receive email support at [email protected]. There’s a live chat feature on My eBanc’s website for real-time help.
How do I open an account with My eBanc?
You can open an account through My eBanc’s website. The online application takes about 10 minutes to complete. To open an account, you’ll need to have personal information on hand, along with a copy of your driver’s license to verify your identity and an external bank account and routing number to fund your account.
