Featured Savings Rates
Featured Accounts

BankDirect

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.50%1-year CD12 Month CD
0.15%Money MarketMoney Market Account
0.25%5-year CD60 Month CD

Overview / Commentary
877-839-2737
2000 Mckinney Ave, # 700
Dallas, TX 75201

BankDirect, a fast growing Internet-only bank that provides convenient, competitive banking products and services to customers nationwide, went live on the Internet on May 17, 1999 at www.bankdirect.com. BankDirect provides competitive interest checking, savings, and money market accounts as well as certificates of deposit and free bill pay service to customers on the web. BankDirect offers financial control to customers who benefit from the convenience of banking anytime, anywhere. Through a "no-branch" model, BankDirect offers competitive rates and more convenient banking than traditional banks.

Related Posts

BankDirect's Money Market Account Now Earns 1.35% APY - 7/13/2017

BankDirect (internet bank) has raised the rate on its Money Market (1.35% APY) on balances of $10k+. The 12-month CD now earns 1.60% APY, min $10k deposit.

BankDirect Hikes Money Market Rate By 101 Basis Points - 6/24/2017

BankDirect (internet division of Texas Central Bank) has raised the rate on its Money Market Account (1.16% APY, $10k min). Minimum opening deposit is $500.

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Reviews (2)

Bank Direct delivers when it comes to your financing needs

Posted by: CC242 | Aug 10, 2014

BankDirect assisted me with a finance loan for my insurance premium. Starting a small business with a large insurance premium can be tough, especially when you have to pay the premium in full before binding coverage. BankDirect was able to help me finance the premium and break it out into nine monthly payments. They paid the insurance broker in full and all I had to do was make my monthly premium payment. It greatly reduced the start up cost. The fees and interest were reasonable and I would definitely do business with them again if I needed assistance with my annual premium.

Very Disorganized Bank

Posted by: pwj7050 | Jul 26, 2017

I opened a "Money Market Plus" account since the APY is 1.35%, which is the most competitive rate at this time. However, they require that you wait until receiving their welcome package in the mail, which takes a week to fund the account. That's not a big problem.

However, their letter does not explain how to open the account. It just provides your account number and some useless marketing info. I had to call the bank and ask how I could fund the account. I could ACH the funds from their portal or send a check or wire. I would opt for the ACH since it is free and quick.

HOWEVER, THIS NEXT RESTRICTION IS WHY I CLOSED THE ACCOUNT. IN ORDER TO DRAW ON MY ACCOUNT WITH THEM, THEY DO NOT ALLOW ME TO EXECUTE ACH'S FROM THEM TO MY EXTERNALLY LINKED WELLS FARGO CHECKING ACCOUNT. I COULD ONLY CUT A CHECK, PAY FOR A WIRE OR USE WELLS FARGO'S BILL PAY WHICH HAS A VERY LOW DAILY LIMIT. THIS IS A DEAL BREAKER. I CLOSED THE ACCOUNT IMMEDIATELY.



Health

Health Grade Components

Overall
FDIC Certificate #34383
Year Established1997
Employees1465
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.83%
Return on Equity - YTD9.17%
Annual Interest Income$184.5MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$20.86B$20.21B
LoansQ1 2017vs Q1 2016$17.38B$16.97B
DepositsQ1 2017vs Q1 2016$16.82B$16.35B
Equity CapitalQ1 2017vs Q1 2016$1.96B$1.73B
Loan Loss AllowanceQ1 2017vs Q1 2016$172.0MM$162.5MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$155.3MM$182.4MM
Real Estate OwnedQ1 2017vs Q1 2016$18.8MM$17.6MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not BankDirect; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

BankDirect Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$100-Savings Account

BankDirect Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$10k-Money Market Account
0.15%*$10k*-IRA Money Market Account
OTHER TIERS: 0.10% Up to $10k
0.05%$500-Mileage Money Market Account

BankDirect Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$10k*-Checking Account
OTHER TIERS: 0.05% $2,500 - $10k
0.01%$2,500-Mileage Checking

BankDirect CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%$10k-12 Month CD
1.45%$10k-36 Month CD
1.22%$10k-24 Month CD
1.15%$10k-30 Month CD
0.40%$10k-90 Day CD
0.25%$10k-18 Month CD
0.25%$10k-48 Month CD
0.25%$10k-60 Month CD
0.20%$10k-6 Month CD
0.10%$10k-6 Month Mileage CD
0.10%$10k-12 Month Mileage CD
0.10%$10k-24 Month Mileage CD

BankDirect IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$1k-12 Month IRA
0.25%$1k-18 Month IRA
0.25%$1k-24 Month IRA
0.25%$1k-30 Month IRA
0.25%$1k-36 Month IRA
0.25%$1k-48 Month IRA
0.25%$1k-60 Month IRA
Locations

BankDirect is an Internet only bank and does not have branch locations. Its headquarters is located at 2000 Mckinney Ave, # 700 - Dallas, TX 75201