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Thursday, June 24, 2010 - 2:24 PM

Presidential Bank -- Go-To Bank For The Long Haul

Presidential Online Bank (5 stars)
I wanted to draw attention to a bank that has treated me well for nearly twenty years -- Presidential Bank. They have long offered a Checking PLUS account with a consistently decent interest rate (currently 1%) for the first $25K on deposit (requires direct deposit and $1000 minimum balance to avoid fees).  Don't be dissuaded by their website design, which has changed little since the advent of the internet; behind the unpromising facade is a bank with solid online features and impeccable customer service.  One downside is that they only have ATMs in the MD/DC area; though they charge no fees for outside ATM usage, neither do they refund the fees that other banks charge.  If you can work around that, the account offers just about everything you might need in a basic checking account, from the ability to write paper checks to online ACH transfers.   Overall, a steady, reliable account that has served me well over the years. 
8
leefleef17 posts since
Jun 24, 2010
Rep Points: 60
1. Saturday, July 10, 2010 - 6:24 PM
How much did they pay you to write this review?
-4
adityanmadityanm25 posts since
Jun 5, 2010
Rep Points: 127
2. Saturday, July 10, 2010 - 7:15 PM
adityanm:  I was not paid, nor do I have any affiliation with this (or any other) bank. The post was just my perspective based on many years of being a customer.  My understanding is that this forum exists for both positive and negative reviews.  My experience with this bank happens to have been positive, so I wrote a positive review.  If you have had problems with the bank, or have anything at all substantive to say, I hope you'll post about it. 
6
leefleef17 posts since
Jun 24, 2010
Rep Points: 60
3. Sunday, July 11, 2010 - 12:22 AM
I opened my 2 checking accounts in 2005 to double the balance on which I could earn the then reasonably high interest but closed both when interest rate plummeted therefore the term long haul does not belong  in this case.


I still have a premier account with very small balance since it has no balance requirement hoping it may again offer fair interest rate.
2
adityanmadityanm25 posts since
Jun 5, 2010
Rep Points: 127
4. Sunday, July 11, 2010 - 3:32 AM
Excellent post and repost leef. 
2
MikeMike262 posts since
Feb 22, 2010
Rep Points: 671
5. Tuesday, September 28, 2010 - 5:14 PM
I too have long been a fan of Presidential Bank. While like most Banks their rates have fell their rates have stayed competitive on deposits up to 25K. However the rating has taken a hit on bankrate. It is now one star and on other sites gets only an F. I'm now worried about the strength of this bank l   
1
jacksbrojacksbro1 posts since
Sep 28, 2010
Rep Points: 1
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