Hyperion Bank Boosts 13-Month CD to 3.20% APY


UPDATE 3/5/2019: On the bank’s home page, a special pop-up displays the message, “Check out our current CD Special! Expiring March 6, 2019 at 6:00pm EST.”

Availability: CDs – 13-month (3.20% APY) and 19-month (3.50% APY), new money, $500 minimum deposit.

Availability: Nationwide

Having a bit of DA déjà vu? It’s only been 10 days since I wrote about Philadelphia-based Hyperion Bank’s (Hyperion) promotional CD rates. Hyperion has definitely heightened the competitiveness on the 13-month CD (3.20% APY) and 19-month CD (3.50% APY) by adding 35 and 40 bps, respectively. The minimum opening deposit is $500 of new money “and/or funds deposited within the previous 30 days at Hyperion Bank.”

Both CDs are available as IRAs (Traditional and Roth), earning the same promotional APYs with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for the 13-month CD is three months interest and six months interest for the 19-month CD.

Thanks to the DA reader who emailed me with Hyperion Bank’s new rates, which were advertised in Sunday's Philadelphia Inquirer.

Funding and Accessing Maturing Funds

Funding a CD can be done by wire (no charge for incoming) or by check – no ACH transfer available at this time. There is a 10-day grace period before a CD automatically renews. Funds can be distributed by check or wire ($25 fee), or deposited in an existing Hyperion checking account. The Bank is in the process of expanding its online application capabilities, and it is possible that by the time these CDs mature, the online banking platform will be able to accommodate an ACH transfer.


Headquartered in Philadelphia, Hyperion Bank currently offers its product line nationwide via email and snail-mail, but there is no functioning online application. The New Consumer Account Form (the first step in opening a CD) can be requested by calling 215.789.4200.

As stated on the New Consumer Account Form, US citizens, permanent residents, and non-US residents are eligible to open an account. Two beneficiaries can be named, with no Social Security number required. You also need to state whether you are “affiliated with a Marijuana Related Business” or not.

If you live in the greater Philadelphia metropolitan area, you can also open a CD Special at Hyperion Bank’s sole branch on West Girard Avenue (Northern Liberties section).

It should be noted that Hyperion Bank is a very small bank, with less than $100 million in assets, 21 employees, and a single branch. With these latest rate increases, Hyperion Bank may be inundated with inquiries and possibly overwhelmed by offering the newest hot deal around. Feel free to share any experience you have in opening one of these CDs.

Bank Overview

Hyperion Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 7.85% (excellent), based on September 30, 2018 data. Hyperion has an excellent capitalization level (22.84%), the result of holding $96.73 million in assets with $22.1 million in equity. Please refer to our financial overview of Hyperion Bank (FDIC Certificate # 58371) for more details.

Hyperion Bank is a young bank, having been established in 2006 to “support investment in the evolving neighborhoods of Northern Liberties and the River Wards.” The Bank has recently raised $18.3 million from private investors, with the intention to more than triple its loan capabilities. According to an October 2018 Philly.com article,

"The new capital will enable the bank to make commercial loans up to $3 million" each, up from less than $1 million per loan last year, said Crawford, a Wharton School grad who founded a string of small banks in Georgia over a 30-year banking career before returning to Philadelphia for the Hyperion job last year.

How the CDs Compare

When compared to 204 similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide and require a similar minimum deposit, Hyperion Bank’s 13-month CD APY currently ranks first.

When compared to 157 similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide and require a similar minimum deposit, Hyperion Bank’s 19-month CD APY currently ranks first.

The above rates are accurate as of 2/25/2019.

To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Philadelphia CD rates, Atlanta CD rates, 1-year CD rates, nationwide deals

  |     |   Comment #1
This is a good deal. I'm sure that they will be swamped with calls.
  |     |   Comment #2
Agreed, :-).

That nineteen month CD is surely akin to Freedom CU's eighteen month offering having the same rate of interest. Both financial institutions are in the SEPA, Philadelphia, region. I suspect there could be a bit of competition ongoing here as the Freedom deal remains available even now.

But the beauty with Hyperion is that anyone can take advantage of the deal regardless where one lives. Freedom Credit Union's deal, while similar as to terms, is geographically restricted.
  |     |   Comment #56
I am proud to say I am responsible for this offer. I'm a member of FCU and wanted to take advantage of the 3.50% 18 month CD, been a member for over 20 years, and have CD's with them, however the new money requirement and max $250k was a pain and asked FCU for a 1 time accommodation so I could invest a substantial amount, when they declined to oblige I pulled money out to invest in a Hyperion CD and asked if they could match the 3.50% vs the 3.10% and was initially turned down, then made aware of on monday that they would match the 3.50% and offer it to everybody! Just bought a CD this morning at that rate, no cap on amount. The nicest reps you will find and met the Bank C.E.O. who thanked me for my business and letting them know about FCU's competing offer. So I would advise anyone interested to hurry up, you are unlikely to find a better rate.
  |     |   Comment #70
are you doing more than 250k to hyperion bank or do u usually cap your cds to 250k for the insurance purposes?
  |     |   Comment #74
Invested $600k, if you add at least 3 beneficiaries you are FDIC insured up to $750k. I verified this by calling FDIC before hand.
  |     |   Comment #75
Comment #74 hopefully that wasn't all of your money because if a 4 or even 5% deal pops up you will be kicking yourself.
  |     |   Comment #78
Larry no that is not all my money, lol $600k is what I was comfortable locking in at the 3.5%, the best deal so far I have seen and will generate $442 per week in interest over it's maturity. I am a car dealer and real estate investor, buy, flip, etc. as well as a licenced realtor, I made a lot of money during the 2008 crash and have literally been through it all. I am willing to wager and have done exactly that with a local financial advisor an economist who believes I am crazy for not taking his advice...my opinion is short term CD rates will not go beyond the 3.50% rate within 2019 or beyond so I have no fear of losing the $1 gentlemans bet nor of kicking myself in the ****, we won't see 4% or 5% CD rates anytime soon. Rates will likely drop before they rise any higher. Other's with experience are welcomed to chime in!
deplorable 1
  |     |   Comment #3
This 19 month CD is for me. I just sent most of my liquid cash to Andrews. Maybe this will still be around in April when I get 5 CD's coming back but I doubt it. I really wish this was a add-on!
Get Real
  |     |   Comment #4
Was going to do Mountain America 5 year with add on but I like the 19 month 3.5% CD.
deplorable 1
  |     |   Comment #6
Do you have to live in a specific area to join Mountain America or will my ACC membership do the trick? I like the 5 year add-on deal.
  |     |   Comment #18
If you enter American Consumer Council as your SEG/employer during the online application process, you will be fine. Based on comments in the Mountain America thread, you may have a problem if you choose to create an argument over this with a representative. One person was told by a representative that being part of an SEG was required if you did not meet the geographical requirements. Rather than agreeing with that accurate statement, the person chose to dispute it, saying there was no need to be part of an SEG --membership in the ACC was sufficient. Perhaps that person was unaware that the American Consumer Council is a Mountain America SEG. You can't expect a representative to memorize all the SEGs. So, if someone decides to make an issue of the necessity of SEG membership, they're gonna be problems. But if you choose to ask questions, and you're nice, and agree with the fact that you need to be part of an SEG, I don't think the representative will tell you that the Consumer Council is not on the list of SEGs.
deplorable 1
  |     |   Comment #38
Ok but isn't this essentially lying since I have a ACC membership but I don't actually work for them? I just don't want that to come back and haunt me later. It probably only works online because it is automated. If I were to call in they would tell me no dice.
  |     |   Comment #40
No -- it's common for those credit unions that include organizational memberships within the credit union's "Field of Membership" to list them under SEGs. It doesn't necessarily mean that you're an employee. I joined Mountain America a couple of years ago via phone -- no problem with my ACC membership. (I did not pretend to be an ACC employee.)

It can get confusing, because sometimes employees of a non-profit group are eligible for membership, while the group's members ain't. I remember some credit union listed a public television station in its field of membership. But it was only for the stations employees, not for the station's members/contributors,
deplorable 1
  |     |   Comment #41
Thank you so much for the clarification and great info.
  |     |   Comment #5
Any experiences with Hyperion:
Opening process
Hard or soft pull
funding options
  |     |   Comment #7
Saw this comment in reviews section:
CD Not Available Online
Posted by: ET | 5 minutes ago
CD has to be opened in person at their physical branch.
  |     |   Comment #8
That is a deal buster if true. Sheesh, easy membership, but you have to go to branch to open CD special?
deplorable 1
  |     |   Comment #10
I think we just need to call in to set everything up as their website isn't ready for prime time yet.
  |     |   Comment #13
I did try their toll-free number. It is dead. Did not attempt to reach their main number. Hmmmm.
  |     |   Comment #9
If this Hyperion CD has to be opened in person I'm quite certain Ken would have made mention.  Such a requirement is a pretty big deal.
  |     |   Comment #11
Based on a quick search, I believe this is a small, local community bank that's chartered by the state of PA. I'd be more surprised if they DO take apps from outside their area.
  |     |   Comment #14
cor, your information is incorrect. Just got off the phone with Hyperion, and the CDs can be opened by email, snail-mail, or even fax. C
  |     |   Comment #15
Just spoke to a CSR (they answered right away) and can confirm that as well.
  |     |   Comment #16
good to know thanks. My info came from a poster on this site in the review section
  |     |   Comment #19
When in doubt, trust what Ken has written in the blog post.
  |     |   Comment #12
There seems to be a discrepancy regarding the APR for the 13-Monrh CD on their website.
  |     |   Comment #17
opinion on which is better strategy considering future rates, this 19 month or 6 month at andrews?
Cash Flow
  |     |   Comment #20
I like 19mo./3.5%, better. Immediate higher return, longer guarantee, and 6 month choice will be over before you know it requiring yet another reinvestment decision. The 6mo/3.25% makes sense if you are optimistic about betters options at that time, but I am concerned about that likelihood.
deep thoughts
  |     |   Comment #57
Cash Flow, thanks for raising these important issues! Never would have considered it. xxoso
  |     |   Comment #21
This 19 month makes me question if I should bother with the 6 month 3.25% that I was planning on tomorrow.

The downside is this would be yet another account. And perhaps another knock on my chexsystems new account number.

Alternatively, I could sit tight earning 2.50% hoping for something even better than the Andrews or this one?

  |     |   Comment #22
RJM, some questions that might help you decide: (1) Are you looking for highest rate, regardless of term? (2) If you ladder, does one fill void in rungs better than other? (3) Does convenience matter?

Regarding Q3, for $50K, the difference in interest earned between the two over 6 months (duration of Andrews’ CD) would be roughly $60, about the cost of 2 wires, if you don’t want to deal with checks in the mail.

The most recent review on Yelp said the bank has faulty systems. That, and the lack of an online app and ACH capabilities, suggest hassles. You can weigh hassle factor (plus possible chexsystems knock) against interest differential.
  |     |   Comment #23
Yes, Another poster emailed and said he went for this deal. But because I went for the 15 month NASA last month, I think I am going to stick with the Andrews because I already have an account there and this deal, the andrews and pure points no penalty suggests competition is heating up or the short to intermediate term. And I have big CDs maturing next month and in April.

So, Im very pleased that Hyperion has this deal because it may encourage others to match or beat it. And competition is good for us.

Maybe Ally will come up with a competitive special too? I have to think they lost a lot of the money they brought in for the 1% bonus. I have less than $500 left at Ally. Just enough to pay credit card bills.

I still need to pull my Chexsystems to see what I can learn from it.

Hopefully this week.

Thanks for your help. I always appreciate your posts.
  |     |   Comment #25
My pleasure, RJM. I’m going only-Andrews as well, mainly because I don’t think the differential is enough compensation for hassle factor. I once bought a CD from an out-of-state bank, one larger than this one, that later said check at maturity was my only option, and I had to supply them with a notarized letter requesting it. With checks in the mail come certain loss of interest, and potential loss of the checks themselves. The interest differential would have to be huge for me to consider biting. Spring is around the corner. Perfect time for the competition to heat up.
  |     |   Comment #24
You can open accounts via email as others suggested. However, they have some other limitations (per direct email back to me):

"We are currently limited on how we receive new deposits. We do not offer ACH capabilities or initiate bank requests. We do fall short and are looking to make enhancements in the future."

This answer was in response to funding in addition to the wires and checks they mentioned in the phone call.

"Interest earned will be sent to the address on file via check."

So if you like trips to another bank to deposit checks (monthly, quarterly, end of CD?)... Great rate, but not worth the hassle. I want something passive after a quick set up!
  |     |   Comment #26
Test3, did you request payout of interest or can they not add interest back to CD?
  |     |   Comment #28
Sylvia, my question was "The interest earned... is there a way to automatically transfer that amount each month to an external account with another bank?" So it's unclear if that's an option. Or when the interest is paid. I want something automatic and not another little chore!
  |     |   Comment #29
From footnote on CD page, https://www.hyperionbank.com/home/personal/savings/cds: "13-month CD (2.85% APY; 2.81% Interest Rate) and 19-month CD (3.10% APY; 3.05% Interest Rate) assumes reinvestment at the same rate for an annual period. Subject to an early withdrawal penalty. Interest is compounded daily and credited monthly."

Yes, rates are incorrect -- very sloppy. Assuming info is otherwise correct, you'd be receiving checks monthly, Test3.
deplorable 1
  |     |   Comment #30
Those must have been their old rates and they didn't update the fine print on their website. They got it right over here:
3.44% 3.50% APY This looks like daily compounding.
This looks good to me I'm going to do this deal despite the hassle factor. Long term CD's have been dropping lately and this is a 5 year rate. I'll have more liquid cash available in April if any other deals pop up.
deplorable 1
  |     |   Comment #39
Interest rates have now been updated in the fine print on their website:
  |     |   Comment #27
Comment #24 A big reason why we will pass on this. As RJM has stated competition is heating up and there's nothing like emergency funds ready to pounce on an outstanding deal that most likely won't last long at all in this environment. When we are talking emergency funds, it's funds that we do not need and can be used to jump on a can 't miss risk free investment.
  |     |   Comment #31
Funding by check can work towards your advantage. A deposit check I mailed on Tues from my Vanguard Prime arrived to the bank on Friday and immediately started to earn interest. Vanguard did not settle the transaction until the next Tuesday so I received 4 days of double interest. This obviously is not the best way to close an account but if they offer a wire for the usual fee back to Vanguard which doesn't charge to receive, then this deal is very attractive. When interest is compounded it better of course not to withdraw it even if allowed if you wish to receive the maximum APY
  |     |   Comment #32
I mentioned something like that last month and Ally6770 said:

"Not to alarm you but banks do prosecute for playing the float. One person I knew even got fired for it."
I'm pretty sure I won't get fired over it since I have not had a job in over 30 years.

Curious to read the details of the prosecution. Criminal check depositing? Even though the money is in the account? Wire fraud since we used the US Mail? Criminal lack of use of a smart phone? Even though I don't have one?

Maybe we can do our time at the same club fed?
deplorable 1
  |     |   Comment #36
There is nothing illegal about funding a CD with a check. Is it illegal when a bank takes 6 days to process a ACH transfer with your money? It should be but it isn't.
  |     |   Comment #44
RJM Comment #32 That is one of the most ridiculous comments I've heard on here. Maybe Ally6770 and Michelle V are the same watch dog. lmao!
  |     |   Comment #47
Michelle V is my 10+ year stalker whose phone cannot type a J. Ally670 is actually a registered user. As crazy as that comment was.
deplorable 1
  |     |   Comment #35
I think you are right RJM I may do this by mailing in a check. I would need some guarantee that I would still be getting this rate once they got the check though. I'm going to call them today and see what the deal is.
  |     |   Comment #54
My dang AA check cleared today after being deposited last night. Thats too fast.

Might be best to do checks on a friday afternoon? Depending on the maturity day.

I think i have deposited checks on thursday afternoon that did not clear until the following tuesday.

So far, my Northern check has not cleared and it was for a larger amount.
Get Real
  |     |   Comment #34
Just sent a check to open a 19 month 3.5% CD. Also opening a 3.51% 5 year add on CD with Mountain America for a couple of thousand. If rates go down I can always add to the Mountain America. I have a large CD maturing in April and a bonus coming in March so I'll have funds to invest in the next couple of months. People were waiting for 5 to 6% CDs and it doesn't look like we will get to those kind of rates. I put a large sum in Connexus at 4% and glad I did.
deplorable 1
  |     |   Comment #37
Sounds like you have a good plan. I'm still cautiously optimistic about 1 or 2 more FED hikes in the second half of the year. I would like to get that Mountain America add-on CD too but it is a bit of a hassle with needing a direct deposit and capped at $100,000. I'm still a bit unclear about the residency requirements as there is some conflicting data points on that.
Get Real
  |     |   Comment #42
We are members of the PTA so that was accepted. I live in NY. Funds should in in my share account today and will open the 5 year plus account.
Get Real
  |     |   Comment #45
Sorry my post 42 was for Mountain America. Hyperion emailed me a simple 1 page application. I mailed completed application copy of drivers license and Social Security card (They included a list acceptable forms of ID), and a check made out to Hyperion.
  |     |   Comment #46
Did you write a check before receiving an account number? That’s something I would not feel comfortable doing
Get Real
  |     |   Comment #48
#46 I've done that many times before and never had a problem.
deplorable 1
  |     |   Comment #43
I just got off the phone and they email you the application and information. They didn't even tell the CSR about these special rates ahead of time! She said she was wondering why she was being inundated with phone calls this morning. Never the less she picked up the call on the second ring. She didn't have much additional information other than if you mail in a check you should receive the 3.5% APY.
  |     |   Comment #49
I just opened a 19-month CD at 3.50% APY. Pretty good application experience. I guess I was lucky, the branch manager Lee Green handled everything personally and was very responsive. I wired the funds to Hyperion ... but they use an intermediary (Atlantic Community Bankers Bank) so ask for wiring instructions. They have a secure email system to submit your application and ID docs.

Note they cannot wire you your money when you close the CD unless you come into their branch and sign a wire agreement. You can't sign the wire agreement via email or docusign or anything electronic. So they have to send you a check. I guess you could open a checking account and initiate an ACH debit from an external financial institution.
  |     |   Comment #50
Anon - You said "Note they cannot wire you your money when you close the CD unless you come into their branch and sign a wire agreement. You can't sign the wire agreement via email or docusign or anything electronic."

I get that they're not set up for anything electronic, but does this mean what I fear it does - that Hyperion will not even snail-mail you the wire agreement form, then you fill it out, sign it and snail-mail it back? Yikes! Realistically speaking, that means no wires to close it out, for anyone from out-of-town.
  |     |   Comment #52
This happened to me with an out-of-state bank. No wire out unless you appear in person, leaving check in the mail my sole option. I asked before handing over my money, and they said, no problem, you can get your money back by wire, failing to mention the "in person" part. Luckily, I didn't have to wait too long for that check. I have heard of banks dawdling when it came to check issuance; you're really at their mercy then.
deplorable 1
  |     |   Comment #51
@Anon: I received the email but it's light on details. Can I take a picture of my drivers license and insurance card on my phone and transfer it to my computer and email it to them with the application? What is the email address they told you to use? The girl I talked to on the phone had no information for me. I may need to call back. I'm a bit confused on how to get this done as I'm used to the online apps. This is like 1980's type stuff here.
  |     |   Comment #53
So, no online process for opening an account . . . yeah, that is turning back the clock. How about the ability to link an external bank and use ACH transfers?
  |     |   Comment #55
See my comment #24: no ACH.
  |     |   Comment #58
You can reach Hyperion Bank via phone and e-mail . After I sent an e-mail they told me to fill out an attached form and submit with 2 types of identification -Driver’s License or Passport and one of the following: Social Security Card, Health Insurance Card, Vehicle or Voter Registration, or Tax Bill. The CD will be opened once the funds and paperwork are received. Let them know if you’d like to send a wire instead and we will provide wiring instructions. Good luck!
Get Real
  |     |   Comment #59
Got a call today from Hyperion to verify the email addresses on the application. My 19 month CD will be opened today.
Get Real
  |     |   Comment #60
They emailed me forms to sign using a secure email.
  |     |   Comment #61
I just submitted the application and ID verification via their secure email link. I am awaiting a response from Lee Green regarding the option of having the matured funds returned by wire instead of a check
Deep Thoughts
  |     |   Comment #62
Lee Green is excellent, good to know.
  |     |   Comment #63
Anon #49
Please don’t regurgitate Nonsense
Spoke to both manger and asst manager
To confirm wire info
$25 fee and funds will be wired upon maturity
Wired money from Schwab had confirmation from them as received 20 minutes later
Can’t be that can you ???
deplorable 1
  |     |   Comment #64
I had a question about wire transfers. I'm going to take advantage of the free wire transfer to fund this CD. Does Hyperion initiate the wire transfer? If so can the institution the funds are coming from also charge me a fee even though I'm not initiating the the transfer with them from their end? I don't usually do wire transfers due to the fees involved.
  |     |   Comment #65
I think wires are push only. And some/many places charge for sending and receiving.
  |     |   Comment #66
Was free on both ends
deplorable 1
  |     |   Comment #67
All America says $25 outgoing but I figured it would be free if Hyperion was the one pulling it. So is it a pull or a push? If not I'll have to move the funds to Northern so I can write a check. Boy I wish I would have ordered that checkbook from Redneck now.
  |     |   Comment #68
RJM is right: wires are push only. You can only initiate from place where funds reside. If you're doing it remotely, place will often have security measures to confirm it's really you making request. Worst case, you're charged on both ends, from both place where funds originated (outgoing) and where they're received (incoming). Much like ACH transfers, the place where you're pushing funds will need info about your account at Hyperion.
  |     |   Comment #69
d1 it's going to cost you at a min of $25 and most likely more. Worth while if you are moving large cash. Free on both ends would be highly unlikely.
  |     |   Comment #72
Obviously you have little bits of money and are not aware of how it works
Never paid a wire fee anywhere
Speak to manger and if you are a good customer it will be waived
Please do niot make comments with definitive terms such as “unlikely “
When you have NO idea how it works
Just did AMEX
Bank to Hyperion no charge in either end
Leave the comments to those who can help others not confuse
ddeep thoughts
  |     |   Comment #73
Thank you FIGuy!

For your bold insight.

Five Handle Larry?
deplorable 1
  |     |   Comment #76
I called Redneck and yes I would have been charged $25 and even then it would have been impossible as I would have needed to step foot in a branch to authorize the wire transaction. All wire transactions are initiated at the FI where the money resides. So I ended up calling Northern bank and they let me do a one time $20,000 ACH transfer(they have a $5,000 cap). I uploaded the application and forms and sent them through the secure email to Hyperion. They said as long as they get that email I'm locked in to the 3.5% rate even if the check comes a week later. I'm sure I can count on the post office being slow as usual so my funds will be at Northern before they cash the check. Had to do a bit of fancy footwork to get this done in time. Thanks for the input on wire transfers guys! ; -)
deplorable 1
  |     |   Comment #77
They received my email so it looks like I made it in time and locked in the rate. Now as long as my check doesn't get lost in the mail I should be good to go.
  |     |   Comment #71
Free on both ends for me, it was one of my perks with the checking account I have providing I have an average minimum balance of 5000.
This might be an old school bank but they seem to be handling this nationwide offer well
  |     |   Comment #79
Will these CDs still be available in 2 weeks?
  |     |   Comment #80
Per my email inquiry today, QUOTE:
To take advantage of the current CD offering:

Applications must be submitted by 6 P.M. EST on March 6, 2019.

Accounts must be funded by 6 P.M. EST on March 13, 2019.
  |     |   Comment #81
That leaves out those of us who are looking for a place to deploy our Keesler proceeds.

Oh well, something else will come down the pike soon probably. If not, 2.50% for a few weeks while I wait is not the end of the world.
  |     |   Comment #82
Sorry guys. I have never funded any CD accounts with check so far. Should I make check payable to bank or to myself? And how do I endorse it?
  |     |   Comment #84
To the bank or CU.

Not sure what you mean by how you endorse it. You sign your name on the front, leave the back alone.
  |     |   Comment #85
Make the check payable to Hyperion Bank. Sign the front of the check, as usual. By endorse, if you mean on the back of the check, leave the back blank.
deplorable 1
  |     |   Comment #91
I made mine payable to Hyperion Bank and just signed the front and left the back blank. I even put a notation "For new 3.5% 19 mo. CD" on the front. I also mailed them a copy of the application with my signature on it and I filled in the 3.5% 19 mo. CD in the blank. I didn't want to leave any doubt about the rate I was applying for. I also emailed them the application but that only had the typed signature box so I figured I would make a copy for good measure.
  |     |   Comment #83
Would appreciate some help! Sent in my docs to Hyperion and now I have to fund the CD(s). Am confused by how to set up the wire. Hyperion uses an intermediary, ACBB. Not sure why. But who is the Title company? That is what the wire instructions ask for. The wire instructions seem complicated. Or, should I just overnight a cashier's check? If so, who do I make the check out to? Have never opened an online CD before. Thanks.
  |     |   Comment #86
If you write a check, make it payable to HYPERION BANK. Do include a note regarding what the check is for and your contact info. I mailed mine and included a copy of the completed application form for clarity that I'd already sent using the secure email system that the email indicated.

Sounds like perhaps you were given wire instructions for some other type of transaction instead of for funding the CD. I received instructions for CD with no TITLE COMPANY part. Here's what I received. Also email said to use the last 4 digits of social security number as CUSTOMER account number. QUOTE:




  |     |   Comment #87
Thanks - I received the same instructions, but when I go into my account to create a wire, it asks alot of questions about the Title company info. I will call my bank now to ask more about this.

As far as checks go, I am considering sending a cashier's check, also initiated online. There isn't much room in the comment section. Anyway, haven't decided which direction to go in yet, still trying to understand the process.
deplorable 1
  |     |   Comment #90
Just write a check as the wire will cost you and you will be locked into the 3.5% if you already emailed them the application and docs.
  |     |   Comment #88
Per their website, they've ended the CD promotion, effective immediately
deplorable 1
  |     |   Comment #89
Wow they didn't even wait until the end of the day! For those who are in process as long as you emailed them all the information by today(maybe earlier today?) and they received it you should still get the rate even though your check is still in the mail. The CSR I spoke to told me to do the email first and then send the check and you are locked into the 3.5%. I'm saving my emails just in case though.
Cash Flow
  |     |   Comment #92
They are buried. They have my application from Friday and I wired money on 3/5 which a CSR confirmed receipt of yesterday but I have heard nothing from anyone since with confirmation or my account number, CD paperwork or anything. I hope they catch up and get this all set up properly. Time will tell. I think I made it barely under the wire but I have no clue how they will draw the line on what got in and what they will not honor?
  |     |   Comment #97
I wonder if when they get caught back up they will come back & raise the rates for new customers? I have a chunk coming out of Keesler on the 18th and would like to open an account here. I might email them just to see. In fact, I will.
  |     |   Comment #99
He responded....

We never know what the future holds! You may also check our website at www.hyperionbank.com for future promotions.


Lee Green
Branch Manager
Cash Flow
  |     |   Comment #100
As of today.....finally reached CSR for help and everything got set up as planned. But I barely made it in time.
  |     |   Comment #101
Cash Flow #92. Customers are in as long as the application was in by March 6th. Per phone conversation with the Branch Manager, Lee Green, account needs to be funded within 7 days from March 6th.
deplorable 1
  |     |   Comment #93
I just noticed that Northern Bank put a hold on my funds. The ACH went in on 3/1 and the cash is still not available. I hope they release the funds before Hyperion cashes the check I mailed on Monday. Does anyone know how long ACH holds are at Northern? Good thing Hyperion seems to be backed up.
  |     |   Comment #94
d1 you shouldn't have a problem with that mailed check because I mailed a check to Andrews for that CD deal and that was 2 weeks or 10 business days ago. Still has not arrived! I've had mail going to the west coast that arrived sooner. I'm pretty sure we won't do that again!
deplorable 1
  |     |   Comment #95
lol good I knew I could count on the U.S. mail to be as slow as molasses. I hope Andrews will still honor the 3.25% rate for you.
  |     |   Comment #96
larry (#94), I'd be more inclined to blame Andrews than USPS. It wouldn't surprise me if they neglected the mail to keep phone lines staffed. Even then, wait times were out of control. deplorable1 (#93), you know how to live dangerously!
deplorable 1
  |     |   Comment #98
@Sylvia: I had to move quick the money was all set to go to Andrews when this deal popped up.
deplorable 1
  |     |   Comment #102
Has anyone had their CD's opened yet? My cash is still in my Northern account and has not been withdrawn. They must be really backed up over there. I hope my check didn't get lost in the mail.
  |     |   Comment #103
Mailed check Monday Mar 4. Money still in my checking account Saturday Mar 9. Will post when I see it cleared.
  |     |   Comment #107
Hi all. I ended up sending a cashier's check to Hyperion which FedEx tracking showed arrived on Thursday. Didn't hear anything back so e-mailed and called today (Tuesday). Finally received instructions on setting up an online account. Managed to set it up and the CD's are there in my account, one for the 13-month and one for the 19-month.

It seems that Hyperion in Philly is a small branch and they are overwhelmed by the number of applications they got for the CD promotion. They are nice and helpful people though. I would advise checking in with them by e-mail or phone, and leaving messages if no one answers.

I was also told that they I would be receiving signature cards in the mail.

This was my first online CD endeavor and it was a bit nerve-wracking. I am used to Capital One 360 where you can open up a CD in like 3 minutes.
  |     |   Comment #108
I wired funds on Monday morning, March 11th and have had no response as of 1pm March 13. I too will post when the promised sig cards and opening docs arrive.
deplorable 1
  |     |   Comment #104
Just a update: My funds were pulled out of Northern today so I'm guessing the CD was opened. Still no confirmation email or letter. Still no account number. They probably have one employee working on all this and don't want to pay for overtime.
  |     |   Comment #105
My check cleared today, Wed Mar 13th. Back of check endorsed date Fri Mar 8th. Waiting for communication from Hyperion that CD opened, etc. (Mailed check Monday Mar 4th)
  |     |   Comment #106
Correction ... dates ... LOL Day ahead of myself. My check cleared today, TUESDAY Mar 12th.
  |     |   Comment #111
Emailed Hyperion for status of CD today, Fri Mar 15th. (Back of check endorsed date Fri Mar 8th.) Received this reply QUOTE:
The 19 M CD was opened on 3/8/2019; we will be sending out signature cards soon.
  |     |   Comment #109
Spoke to a bank rep, early today 3/15/2019, about the 19 month CD, was told it wasn't available. Yet, the web site still shows it. Who telling the truth??? Who can you trust..
  |     |   Comment #112
Mr. Green contacted me today, gave me online access to my 19 month CD opened the day I wired funds (March 11th) and promised paper documents will be mailed this week.
deplorable 1
  |     |   Comment #113
UPDATE: I emailed them and got the response that my CD was opened on 3/8/19. They said the signature cards and copy of the CD with terms would be coming soon by mail. They said to go and register for online access to see the CD online. Does anyone know if you can register for online access without a account number?
  |     |   Comment #114
Online access failed for me. Instead got error message I'm not found. (Although per email CD began Mar 8). Emailed today for status and that online failed. Will post reply when received.
SITE STATES: New users: your temporary Username is your full tax ID (SS or EIN#). Your temporary Password is the last 4 digits of your Tax ID. You will be prompted to create your own new Username and Password after you log in.
  |     |   Comment #115
I now have online access to see CD acct# and details. Here's Sat reply to above Fri email. QUOTE:

We greatly appreciate your patience. We have to manually process applications, generate signature cards, etc., we are still working on mailing them out.
I’ve setup online access, click on “first time user” and follow the prompts. If you have any issues, please let me know.
deplorable 1
  |     |   Comment #116
I just got online access as well. I didn't remember seeing the "first time user" link before. The CD was opened on 3/6/19 and the rate is 3.44% with a 3.5% APY. Everything looks good. I'm wondering if we should be opening a savings or checking account for getting the money out through ACH at maturity.
Hyperion Bank Offers Nationally Available 19-Month CD, 3.10% APY
Availability: CDs – 13-month (2.85% APY) and 19-month (3.10% APY), new money, $500 minimum deposit.

Availability: Nationwide

Philadelphia-based Hyperion Bank (Hyperion) is currently offering promotional rates on its 13-month CD (2.85% APY) and 19-month CD (3.10% APY). The minimum opening deposit is $500 of new money “and/or funds deposited within the previous 30 days at Hyperion Bank.”

Both CDs are available as IRAs (Traditional and Roth), earning the same promotional APYs with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for the 13-month CD is...

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Competitive 2-Year CD and Money Market Rates at Hyperion Bank in Philadelphia - Local Only

Many readers might remember Hyperion Bank for its reward checking account. It had offered one of the best ones in the Philadelphia area back in 2009. Unfortunately, the rate has fallen, and it's no longer available for new accounts. However, the bank has often come out with some good deposit deals. For large balances, the bank's consumer money market account is competitive. The top rate is 1.30% APY for balances of at least $100K. The rate is 1.10% APY for balances of $50K to up to $100K. The bank is...

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Another Bank Enforcing High Debit Card Usage on Its Reward Checking Account

Hyperion Bank in Philadelphia is another bank with a high-yield reward checking account that is cracking down on customers who are not spending enough on their debit cards. One reader who reported using his debit card for a few hundred dollars in purchases a month received just a warning. Here's an excerpt:

Another reader was not so lucky. Her account was converted into the non-interest bearing free checking account. She reported making between $10 and $20 per month in debit card purchases. Here's an excerpt of the email she received:

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2.40% 13-Month CD at Hyperion Bank in Philadelphia - Local Only
Hyperion Bank is offering a special 13-month CD with a 2.40% APY. Minimum deposit is $399. This special doesn't appear to be listed at the bank's website. A reader mentioned this being advertised in Sunday's Philadelphia Inquirer. I just called for more details. According to the CSR, it's valid through 7/31/09. They require you to come into a branch with two forms of ID.

Hyperion Bank also offers a competitive rewards checking account that is currently paying 5.01% APY on balances up to $30K (see post).

Hyperioin Bank is a small one-office...

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High-Yield Reward Checking Account at Hyperion Bank in Philadelphia

Update 11/03/10: The account is no longer available for new accounts. Refer to the bottom of the post for the account history.

Hyperion Bank is offering a reward checking account called HyperInterest Checking that pays 2.51% APY on balances up to $25,000 (1.15% for above) and refunds up to $600 a year in ATM fees if the following monthly requirements are met:

  • 10 signature-based debit card purchases
  • one direct deposit or ACH payment
  • receive electronic statements

If these are not met, the rate falls to 0.25%. There are no monthly service charges and no minimum...

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