ableBanking
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 2.50% | 1-year CD | 1 Year CD 1.80% - Ally Bank No Penalty 11-Month CD |
| 1.70% | Savings | Money Market Savings 1.65% - Barclays Online Savings Account |
| 2.80% | 2-year CD | 2 Year CD 2.50% - Capital One 24 Month 360 CD |
Related Posts
6/16 - 2.50% APY 1-Year CD & 2.80% APY 2-Year CD
1/29 - Ablebanking's MM Savings Is A New Rate Leader (1.70% APY)
1/13 - ableBanking’s Money Market Savings Is New Rate Leader
A Long Time Customer
My son and I have had individual accounts with Able for a few years in money market accounts. In the early years, their website was a little clunky, but that situation has been mostly remedied. The staff, while small, has always been very friendly and helpful. My son was an early customer so he can write checks on his account. I cannot, but it's easy to transfer money to my check writing bank. We're happy with them.
A giving Bank.
I just started an account with this bank less than a year ago. I wanted to get the benefit of an online bank that offers a better yielding rate on my money market account and this is one of the banks that has great rates for that. I was also surprised to learn that they donate twenty five dollars to a charity of your choice when you open an account. I decided to donate to my mothers church because she has been going there for over twenty years and it also made her very happy to help the lord. Which makes me feel pretty good and after being there a year they donate twenty five percent of your account balance to a charity also. That, plus the good MMA rate had me hooked. Everything is also very simple with their online banking. You can also call if you have any troubles with anything and the folks on the phone are very helpful and polite.
Too Many Limitations With What You Can Do With Your Money
All kinds of surprises with this bank that I didn't realize upon signing. I am with other online banks that are not so restrictive. First of all, I didn't realize I couldn't withdraw any funds until they send me a form I must sign and give back to them (which I am still waiting on) so my money is locked in there. Furthermore, the account can only be linked with one other account at a time. I guess that's fine, but when I decided to change the account it would be linked with, I found out I cannot change the linked account within the first 60 days so my fund are locked in there for the time being. I plan to close the account and move the funds into other online banks that are less restrictive.
My Experience With ableBanking
When selecting my current money market savings account, I was drawn to ableBanking on the advice of a friend who, knowing I'm up for being charitable, thought it was the sort of thing I would be interested in. I was pleased to see that the free $25 donation you can make for setting up the account could go to pretty much any charity you like rather than just from a small predetermined list so if you have a personal interest in a certain charity then chances are you can donate. I believe that a yearly payment will also go to my charity based on interest. Setting the account up was straight forward and all handled online, their online portal is intuitive and very easy to use even for a beginner like me.
I am very happy with the account so far, my payments into it have been swift and trouble free so other than speaking to a customer service adviser once to confirm my charity of choice (they were very helpful, by the way) I have not actually had to put them to the test all that much. I'm hopeful it's going to be a good banking experience over time, so far it has been.
Absolute Trash
I submitted an application to this bank to open up a savings account. They said I failed some verification questions about my identity and made me submit additional documentation which I did. I was then told that it would take a couple of days to process and then they would fund the account from my other bank. It's over a month later and I keep getting told when I call and when I go online that the account process is still under review. Are they serious?
Terrible Service - Site, App & Everything Else Plagued With Bugs
I opened up an account for the great rate - which is where the happy part ends. Getting money moved into the account required a phone call, because the website did not work (it got very confused about another account, which replaced it?? no idea). After that, I never even got to see my money because logging in via the app AND online via desktop both would show "no account found."
Calling in many times, the people always blamed technical faults and tried to fix, but nothing ever worked. A part of me thought "is my money even there??" so in the interest of caution, I of course closed everything out -- which was done via a bug-filled form on their site that required another phone call since that didn't work either.
Stay far away. Not worth the hassle. I've wasted two weeks moving money around for this. I would really love to get my time back.
Too Restrictive
I didn't realize they put a hold on incoming ACH credits. I had an ACH payroll deposit that they put on hold. I mean really? What bank does that? I understand if you deposit a check or initiate a ACH from them, but when an external entity deposits funds into an account they are clear and available but evidently this bank doesn't understand risk.
Data as of Q1 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 19690 |
| Year Established | 1872 |
| Employees | 180 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.6% |
| Return on Equity - YTD | 11.86% |
| Annual Interest Income | $16.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2018vs Q1 2017 | $1.17B$1.03B |
| Loans | Q1 2018vs Q1 2017 | $816.1MM$743.0MM |
| Deposits | Q1 2018vs Q1 2017 | $992.6MM$865.7MM |
| Equity Capital | Q1 2018vs Q1 2017 | $150.2MM$133.8MM |
| Loan Loss Allowance | Q1 2018vs Q1 2017 | $4.7MM$3.4MM |
| Unbacked Noncurrent Loans | Q1 2018vs Q1 2017 | $13.5MM$11.1MM |
| Real Estate Owned | Q1 2018vs Q1 2017 | $944.00K$3.7MM |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
2.50% APY 1-Year CD & 2.80% APY 2-Year CD
$1,000 minimum deposit required.
Early withdrawal penalties will apply.
- Not Available as an IRA.
- Limited to individual CD accounts with a principal balance of $240,000 or less.
- Interest rates & annual percentage yield accurate as of 6/16/2018 & is subject
to change without any notice.
FDIC insurance limits of $250,000 apply to the combined deposit balances between ableBanking & Northeast Bank.
Always verify rates and promotions with the bank or credit union. We are not ableBanking; we are a rate comparison website and cannot provide official rates or promotions.
ableBanking Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.70% | $250 | - | Money Market Savings |
ableBanking Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.70% | $250 | - | Personal Money Market |
ableBanking CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.80% | $1k | $240k | 2 Year CD | |
| 2.50% | $1k | $240k | 1 Year CD | |
| 1.65% | $1k | $240k | 4 Year CD | |
| 1.05% | $1k | $240k | 6 Month CD | |
| 0.90% | $1k | $240k | 3 Year CD |
ableBanking is an Internet only bank and does not have branch locations. Its headquarters is located at 500 Canal Street - Lewiston, ME 04240