Dollar Bank's Premier Savings Has 6-month Guaranteed 2.40% APY


Deal Summary: Premier Savings, 2.40% APY, $20k minimum/$1m maximum balance, new money, 6-month rate guarantee.

Availability: Market area includes southwest Pennsylvania (Pittsburgh), northeast Ohio (Cleveland), and the Hampton Roads area of Virginia.

Pennsylvania-based Dollar Bank is offering a six-month guaranteed 2.40% APY on new Premier Savings accounts opened now through July 13, 2019. The 2.40% APY applies to all balances between $20k and $1 million. The minimum opening deposit is $20k of new money, which is defined as “funds in excess of the account owner(s) average daily deposit balances during the past 30 days.”

Following the 180-day rate guarantee, the rate will change to the “standard tiered rate in effect at that time.” Currently, those rates/tiers are,

    Balances of $0 to $100,000 – 1.50% APY

    Balances of $100,000.01 to $250,000 – 1.75% APY

    Balances of $250,000.01 to $3,000,000 – 2.00% APY.

Only two fee-free withdrawals are allowed per month, with a $10 fee for each withdrawal beyond the two allowed.

To qualify for the 2.40% APY a “qualifying checking relationship” is required. According to the Compare Checking Accounts page, the Everything Checking account is the only checking account that qualifies.

0.10%-$100mDollar BankEverything Checking
Rates as of November 28, 2022.


Headquartered in Pittsburgh, Dollar Bank’s primary market area is southwest Pennsylvania and northeast Ohio. Three years ago, Virginia’s Bank @LANTEC became a division of Dollar Bank, adding the Hampton Roads area to the market area.

Accounts are available to U.S. residents, 18 years or older, who live within the market area. The first page of the online application asks for your Zip Code to determine market area eligibility.

A Premier Savings account can be opened online, or in person at any of the 39 Pennsylvania branches (21 in Pittsburgh) or the 30 northeast Ohio branches. Following the acquisition of Bank @LANTEC, Dollar Bank gained four Virginia branches, located in Chesapeake, Norfolk, and Virginia Beach (2).

Bank Overview

Dollar Bank has an overall health grade of "A" at, with a Texas Ratio of 1.77% (excellent) based on March 31, 2019 data. In the past year, Dollar Bank has increased its total non-brokered deposits by $48.87 million, an above average annual growth rate of 0.80%. Please refer to our financial overview of Dollar Bank (FDIC Certificate # 32245) for more details.

With assets in excess of $8.5 billion, Dollar Bank is currently Pennsylvania’s sixth largest bank and the 141st largest bank in the country. The Bank was founded in 1855 as the Pittsburgh Dollar Savings Institution. Charles A. Colton, an insurance salesman, convinced 39 local business leaders to join him as incorporators of the new bank.

On July 19, 1855, the Bank opened for business. For as little as $1, anyone could open a savings account at the Bank. The first day's deposits totaled $53, which included two dollars from Charles Colton's 10-year-old son. Colton was the only salaried employee for the first three-and-a-half years of the institution's existence, running the Bank's daily operations singlehandedly. In 1858, the Bank changed its name to Dollar Savings Bank.

Colton never retired. He remained active as the Bank's treasurer until his death in February 1881 at age 73. At the time of his death, the Bank had more depositors and more money on deposit ($6.5 million) than any of the other 17 banks in the city. Colton had personally handled the opening of more than 10,000 savings accounts of the 65,000+ accounts in total that Dollar Savings Bank had recorded in its ledgers over the first 26 years.

How the Premier Savings Compares

When compared to the Savings Accounts tracked by that are within the market area, Dollar Bank’s Premier Savings APY currently ranks sixth, regardless of minimum balance requirement. The six-month rate guarantee only adds to the Premier Savings account’s intrinsic value.

The above rates are accurate as of 6/28/2019.

To search for the best Savings Account, both nationwide and state specific, please refer to’s Savings Account Rates page.

Related Pages: Pittsburgh savings accounts, Cleveland savings accounts, Norfolk savings accounts, savings accounts

Dollar Bank (PA/OH/VA) Boosts Short And Long-Term Traditional CDs
Deal Summary: Traditional CDs – 13-month (1.75% APY), 25-month (2.00% APY), and 49-month (2.25% APY), $25k minimum deposit, new money.

Availability: Market area includes southwest Pennsylvania, northeast Ohio, and the Hampton Roads area of Virginia.

Earlier this month, Dollar Bank raised the rates on its 13-month (1.75% APY), 25-month (2.00% APY), and 49-month (2.25% APY) Traditional CDs for deposits between $25k and $500k. While a Traditional CD can be opened with a minimum deposit of $2.5k, balances up to $25k only earn 0.25% APY, as do balances...

Continue Reading
Another $150 Checking Bonus at Dollar Bank in Parts of PA & OH

Update 2/17/2014: This promotion has come back. It's now scheduled to last until 2/28/2014.

Dollar Bank has brought back its checking account promotion in which you can earn up to $150. To get the full $150 requires debit card purchases, direct deposit and waiting for one year. The full details are listed in the bank's promotions page. The offer is scheduled to end on 9/30/2013.

The first $50 is paid as a rebate on your signature-based debit card purchases. The second $50 is a credit for receiving cumulative direct deposits of $250...

Continue Reading
Higher Long-Term CD Rates at Dollar Bank in Parts of PA and OH

This is another case of a bank raising long-term CD rates. Dollar Bank raised its 10-year, 6-year and 5-year CD and IRA CD rates this week. The most competitive ones are now its 6-year and 10-year CDs. The 6-year CD has a 2.00% APY and the 10-year CD has a 2.75% APY. The 5-year CD is not quite as competitive with a 1.50% APY. Slightly higher rates are available with CD ladder and relationship options. These rates are listed in Dollar Bank’s rates page as of 8/23/2013.

Dollar Bank’s early withdrawal...

Continue Reading
$150 Checking Account Bonus at Dollar Bank in Parts of PA & OH

Dollar Bank is offering a checking account promotion in which you can earn up to $150. To get the full $150 required debit card purchases, direct deposit and waiting for one year. The full details are listed in the bank's promotions page. The offer is scheduled to end on 2/28/2013.

The first $50 is paid as a rebate on your signature-based debit card purchases. The second $50 is a credit for receiving cumulative direct deposits of $250 or more. The third $50 credit will be paid within 2 months of the...

Continue Reading
High-Yield Savings Account Continues at Dollar Bank in PA & OH - Local Only

Dollar Bank offers a high-interest savings account that is a unique variation to a high-yield reward checking concept. The savings account is called FreeMoney Savings and it continues to pays 2.00% APY on balances up to $20,000 (as of 7/21/2011). It has no monthly fees and no minimum balance requirement. It does require that you maintain a FreeMONEY Checking or Reward Checking account. When I last reviewed this account in December only the FreeMONEY Checking was an option.

The Reward checking account isn't a high-yield reward checking. In fact, it doesn't...

Continue Reading

More Past Offers

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.