Exchange Bank Savings Accounts — Standard & High-Yield
Whether you are building an emergency fund or growing a long-term nest egg, Exchange Bank savings accounts offer FDIC-insured security and competitive APY. Choose between standard savings for everyday flexibility and high-yield savings for accelerated growth on larger balances.
Exchange Bank offers two personal savings products: Standard Savings (0.15% APY, $25 minimum to open, up to 6 withdrawals/month) and High-Yield Savings (0.50% APY, $1,000 minimum balance, up to 6 withdrawals/month). Both accounts are FDIC insured up to $250,000 per depositor. Interest compounds daily and is credited monthly. For FDIC insurance details, visit fdic.gov. Call (800) 397-3962 to open an account or ask questions.
Account Comparison
Standard Savings vs. High-Yield Savings
Both accounts are federally insured and integrate with Exchange Bank checking through automatic transfer. The key differences are the APY and minimum balance requirements.
| Feature | Standard Savings | High-Yield Savings |
|---|---|---|
| APY | 0.15% APY | 0.50% APY |
| Minimum Opening Deposit | $25 | $1,000 |
| Minimum Balance to Avoid Fee | $300 avg daily balance | $1,000 avg daily balance |
| Monthly Fee (if below minimum) | $4 | $10 |
| Monthly Withdrawal Limit | 6 convenient transactions | 6 convenient transactions |
| Interest Compounding | Daily, credited monthly | Daily, credited monthly |
| FDIC Coverage | Up to $250,000 per depositor | Up to $250,000 per depositor |
| Automatic Transfer from Checking | Yes, via online banking | Yes, via online banking |
APY = Annual Percentage Yield. Rates subject to change. FDIC insured. See account disclosure for complete terms. For official FDIC insurance information, visit fdic.gov.
Option One
Standard Savings — Flexibility First
Exchange Bank Standard Savings is built for customers who are starting a savings habit or who need an accessible account for short-term goals. The $25 opening deposit means almost anyone can open one today.
The account earns 0.15% APY, compounded daily and credited monthly. Avoid the $4 monthly maintenance fee simply by maintaining a $300 average daily balance — a low bar that most savers clear without thinking about it. Standard savings works well as an overdraft buffer linked to a Exchange Bank checking account, transferring funds automatically when a transaction would otherwise overdraw the checking balance.
Up to 6 convenient withdrawals per month (electronic transfers, online transfers, debit transactions) are permitted. In-person branch withdrawals and ATM cash withdrawals do not count toward this limit. Standard savings integrates fully with online banking, so you can schedule automatic contributions — weekly, bi-weekly, or monthly — from the app or desktop portal.
Customers who accumulate $1,000 or more may want to graduate to the High-Yield Savings account or explore money market accounts for tiered rate benefits and check-writing access.
Option Two
High-Yield Savings — More Return on Every Dollar
Exchange Bank High-Yield Savings pays 0.50% APY — more than three times the standard rate — on balances of $1,000 and above. This account suits dedicated savers, emergency fund builders, and anyone who wants their cash working harder without the commitment of a CD.
Unlike a certificate of deposit, high-yield savings keeps your money accessible. You can withdraw or transfer funds at any time, subject to the 6-transaction-per-month limit. The $10 monthly fee is waived whenever the average daily balance stays at or above $1,000 — keep your savings goal in focus and the fee never appears.
Interest compounds daily and posts to the account each month. On a $10,000 balance at 0.50% APY, that works out to roughly $50 in interest per year — small on its own, but it compounds on top of regular contributions over time. For customers with $25,000 or more, a money market account or a certificate of deposit ladder may offer higher returns with similar FDIC protections.
All Exchange Bank deposit accounts — including High-Yield Savings — are insured by the FDIC up to $250,000 per depositor per ownership category. Learn more about FDIC coverage at fdic.gov.
FAQ
Exchange Bank Savings — Questions Answered
Common questions about APY, withdrawal limits, Regulation D, joint accounts, and automatic transfers.
How is APY calculated on Exchange Bank savings accounts?
APY — Annual Percentage Yield — reflects the total interest earned over one year, including compounding. Exchange Bank savings accounts compound interest daily and credit it monthly. A 0.50% APY on a $10,000 balance yields approximately $50 in interest over one year, assuming the balance stays constant. Higher balances and regular contributions increase total earnings over time.
How many withdrawals can I make from Exchange Bank savings each month?
Exchange Bank savings accounts permit up to 6 convenient withdrawals or transfers per month. These include electronic transfers, ACH transactions, and online bill pay. In-person withdrawals at a branch teller or ATM cash withdrawals do not count toward this limit. Exceeding 6 qualifying transactions in a statement cycle may result in an excess withdrawal fee of $10 per transaction.
What is Regulation D and how does it affect my savings account?
Regulation D was a Federal Reserve rule that historically capped convenient withdrawals from savings and money market accounts at 6 per month. The Fed suspended the hard limit in April 2020, but many banks — including Exchange Bank — maintain their own internal limits consistent with the original rule. Repeatedly exceeding 6 transfers per cycle may result in the account being reclassified as a transaction account. Call (800) 397-3962 if you anticipate needing more frequent access to your funds.
Can I open a joint savings account at Exchange Bank?
Yes. Joint savings accounts are available for two or more owners. Each owner has full access and equal rights to the funds. FDIC insurance applies per depositor per ownership category — a joint account held by two individuals carries up to $500,000 in combined coverage. Both owners must provide valid government-issued identification at account opening.
Does Exchange Bank offer automatic transfers to savings?
Yes. Exchange Bank online banking and the mobile app support recurring automatic transfers from a linked Exchange Bank checking account to your savings account. Choose the amount, frequency (weekly, bi-weekly, or monthly), and start date. Automatic transfers count toward the 6-per-month transaction limit, so factor that in if you also need to make manual withdrawals during the same period.
Related Services
More Exchange Bank Personal Banking Options
Checking Accounts
Free, interest, and rewards checking with no hidden fees and a Visa debit card included.
View Checking →Money Market Accounts
Tiered APY for larger balances plus check-writing access and full FDIC protection.
View Money Market →Certificates of Deposit
Lock in a guaranteed rate for 3 months to 5 years. No market risk. FDIC insured.
View CD Rates →