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Prime Alliance Personal Savings Review

Review Updated
Kailey Hagen
Author: Kailey Hagen
Kailey Hagen
Kailey Hagen
Writer

Kailey Hagen has been writing about small businesses and finance for almost 10 years. Articles she's written for The Motley Fool have been syndicated to USA Today, MSN, and Yahoo! Finance. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.

See Full Bio

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

The Prime Alliance Bank Personal Savings account should be a contender for anyone who wants a competitive APY and few fees or restrictions. This in-depth Prime Alliance Bank Personal Savings review covers the essentials so you can figure out if it's right for your needs.

Ratings Methodology
Rates as of Dec 20, 2024

Prime Alliance Personal Savings

Member FDIC.
Rating image, 3.25 out of 5 stars.
3.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.25 out of 5 stars.
3.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
APY
4.50% (variable)
Min. To Earn APY
$0
  • Earn interest on all account types
  • Competitive APYs
  • No monthly fees
  • No minimum balance to earn interest
  • Only one physical bank location
  • Limited customer service hours

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account APY Promotion Next Steps
3.80%
Rate info Circle with letter I in it. 3.80% annual percentage yield as of December 28, 2024. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 4.00%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

Prime Alliance Personal Savings interest rate

Account APY Minimum Deposit
Prime Alliance Personal Savings 4.50% (variable) $0
Data source: Prime Alliance Bank.

Prime Alliance Bank offers a solid APY on its savings account, and you don't even need a minimum deposit to open the account. You do need at least $1 to earn interest -- but you won't pay a monthly fee that eats into your earnings

Full Prime Alliance Personal Savings review

Top perks

Competitive APY: The Prime Alliance Personal Savings account offers one of the more competitive APYs we've come across.

No monthly maintenance fees: You won't pay a monthly fee to own a Prime Alliance Bank Personal Savings account, no matter what your balance is. Maintenance fees can eat into your profits, so this account is a good fit for those who don't want to worry about this.

No minimum balance requirements: You can keep as much or as little money as you'd like in your Prime Alliance Bank Personal Savings account, though you need at least $1 in order to earn interest. 

Bank from anywhere: Prime Alliance Bank doesn't have any physical branches, but its Personal Savings account comes with online and mobile banking tools, including mobile check deposit, so you can manage your account from anywhere.

What could be improved

ATM cards: The Prime Alliance Bank Personal Savings account doesn't come with ATM cards or any other way to directly withdraw cash, which is not unusual for an online savings account. If you have a Prime Alliance Bank checking account, you can instantly transfer your savings there and then use your checking account debit card to get your cash.

How to access your money

You can access the funds in your Prime Alliance Bank Personal Savings account in the following ways.

Deposit options

Prime Alliance Bank enables customers to deposit money using any of these methods:

  • Electronic transfer
  • Wire transfer
  • Mobile check deposit

If you'd like to use mobile check deposit, you will have to download Prime Alliance Bank's mobile app for iOS or Android devices.

Withdrawal options

You can withdraw your money using one of these options:

  • Electronic transfer
  • Wire transfer

There is a limit of $50,000 per external transfer initiated through Prime Alliance Bank's website and a $250,000 monthly transfer limit. If you need to initiate a larger transfer, contact Prime Alliance Bank.

The Prime Alliance Bank Personal Savings account is right for you if:

The Prime Alliance Bank Personal Savings account is a great fit for anyone looking for a high APY with no monthly fees. As long as you don't need to quickly withdraw cash directly from your savings account, you should be pretty happy with the Prime Alliance Bank Personal Savings account.

Keep reading about Prime Alliance Bank

  • Prime Alliance Bank Review
  • You want a competitive APY.
  • You're comfortable with online banking.
  • You want an account without monthly or transfer fees.
  • You have more than $100 to save.

Read more about Bread Financial

Our savings account methodology

At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.

Our scores are weighted as:

  • APY: 50%
  • Brand and reputation: 20%
  • Fees and minimums: 15%
  • Other perks: 15%

Learn more about how Motley Fool Money rates bank accounts.