Average User Rating:2.5 star rating based on 3 reviews.
Sallie Mae Bank
| 5217 South State Street, Suite 210 Murray, UT 84107 877-346-2756 go.salliemae.com  |
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Established in 2005, Sallie Mae Bank is associated with the education loan giant that shares its name. Sallie Mae Bank is state-chartered in Utah, with its headquarters in Murray. As you might expect, Sallie Mae Bank focuses on offering education loans to borrowers all over the country. However, that’s not all the bank does.
Sallie Mae Bank is FDIC-insured, and offers high yield savings accounts and CDs. Interest yields on these accounts are quite competitive, and there are now account minimums are monthly fees. Sallie Mae also offers a money market account that comes with a rather competitive interest yield – 3x the national average. There is only one location of Sallie Mae Bank, but you can manage your accounts on line.
Sallie Mae Bank also offers a debit card program. It’s actually part of the disbursement system that schools can use to provide refunds to students. It’s basically a way to get students their student loan funds without cutting checks. Students can then use the debit cards as prepaid cards. The cards are reloadable, so they can be used by one student throughout his or her college career.
Sallie Mae Bank is FDIC-insured, and offers high yield savings accounts and CDs. Interest yields on these accounts are quite competitive, and there are now account minimums are monthly fees. Sallie Mae also offers a money market account that comes with a rather competitive interest yield – 3x the national average. There is only one location of Sallie Mae Bank, but you can manage your accounts on line.
Sallie Mae Bank also offers a debit card program. It’s actually part of the disbursement system that schools can use to provide refunds to students. It’s basically a way to get students their student loan funds without cutting checks. Students can then use the debit cards as prepaid cards. The cards are reloadable, so they can be used by one student throughout his or her college career.
Sallie Mae Bank Routing Number: 124385119
Related Posts
Sallie Mae Rate Drop On Online Savings And Money Market Accounts (Forum) - 9/30/2011
Sallie Mae has joined the rate dropping party. Both Savings and Money Market accounts are now 1.00% APY.
Sallie Mae Bank Adds Mobile Banking With Remote Deposit Capture (Forum) - 9/7/2011
From Sallie Mae's press release: Sallie Mae banking customers can now use their mobile devices to check balances, deposit checks, pay bills, monitor spending and transfer funds. The most noteworthy feature is the remote deposit capture: Securely deposi
Sallie Mae To Launch Student Checking Accounts (Forum) - 3/26/2011
From the Credit Union Times: Sallie Mae announced Monday that it will begin offering no-fee student checking accounts into which colleges and universities can directly disburse financial aid and tuition refunds owed to students.
Sallie Mae Bank Cuts Savings Account Rate To 1.10% (Forum) - 3/8/2011
The yield fell from 1.25% APY to 1.10% APY. It's another online bank reducing their online savings account rate.
2011
- 2/1 - Sallie Mae Bank Cuts Savings Account Yield To 1.25% (Forum)
2010
- 11/5 - CD Rates Fall At Sallie Mae Bank (Forum)
- 11/5 - Sallie Mae Bank Cuts Savings Account Yield To 1.30% (Forum)
- 9/15 - Sallie Mae Bank Lowers CD Rates (Forum)
- 9/13 - Comparing Sallie Mae Bank CDs with Ally Bank's 5-Year CD
- 9/3 - Update on Sallie Mae Bank's Internet Savings Account and CDs
- 7/5 - Sallie Mae Bank's Internet CD Rates - Available Nationwide
- 5/11 - Update on Sallie Mae Bank (Forum)
- 5/1 - Sallie Mae Bank Raises Its Online Savings Account Rate
- 3/9 - Sallie Mae Online Savings Account Yield Falls to 1.25% APY (Forum)
- 3/2 - Review of the New Sallie Mae Internet Bank and Its Link to Upromise Rewards
- 2/15 - Anyone Know Anything About Sallie Mae's Online High Yield Savings Account With An Interest Rate Of 1 (Forum)
See Rates for: Savings | Money Market | CD
Sallie Mae Bank Savings Account Rates
Sallie Mae Bank Money Market Rates
Sallie Mae Bank CD Rates
Rates updated: 2/11/2012
Data for Q3 2011
Institution Statistics
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Institution Health
Overall Score:
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This Bank SUCKS
- tennboy1981 - Tuesday, January 31, 2012 - 12:43 PMThis bank SUCKS. I deposited a check remotely with my computer, and they return it saying its already been cashed when it HAS NOT. The check is good. Their custoemr service SUCKS. They want to charge me for THEIR mistake! Screw you, keep the 5 bucks, my account is closed!
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SALLIEMAE BANK CUSTOMER SERVICE - 1-877-346-2756
- MY4ever - Wednesday, October 27, 2010 - 6:12 PMYou can contact directly the Sallie Bank Customer Service @ -1-877-346-2756.
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Sallie Mae Bank 2010 IRS 1099
SallieMae is distributing its 2010 1099s electronically via its Website. The customer service rep informed me that they do not intend to distribute them by postal mail.
In principle, I don't have much of a problem with this myself, but it was very difficult to print out the form, even when I tried to follow the very cursory and non browser specific instructiions SLM Bank provided. The bank did not provide the 1099 in PDF or another easily printable format. Printing directly from a browser failed for me using both Firefox and Chrome (print truncated critical parts of the page). Ultimately, I was able to capture an image of the 1099 using Windows 7's cutting tool, save it as a PNG image, view the saved file using IfranView, and print from IrfanView.
Thought this might be of use to others who might face the same problem. Pretty clearly, the process has no business being this involved.