Ivy Bank is a digital banking division of Cambridge Savings Bank which is a Massachusetts state-chartered bank and Member FDIC. Deposits at Ivy Bank and Cambridge Savings Bank are combined for the purpose of calculating FDIC insurance limits (FDIC certificate #17870) and are not separately insured.
Accounts are available nationally, except for California.
Related Posts
10/18 - Ivy Bank Raises High Yield Savings Account APY To 5.30%
10/2 - Ivy Bank Raises High Yield Savings Account Rate To 5%
9/2 - New Higher Rate For Ivy Bank's Indexed Savings Account
6/1 - Ivy Indexed Savings 5.64% For June
5/1 - Ivy Bank Ups High-Yield Savings Rate
4/26 - Savings Increase To 4.8%
3/30 - Savings Rate Increased To 4.50% APY From 4.25%
2/2 - Ivy Bank's New 4.71% Indexed Savings Account
2/1 - Savings Rate Now 4.25%
1/17 - Ivy Bank 1-Year CD Offers Rate-Leading APY
1/15 - 12 Month CD Now 4.85% APY
12/8 - Ivy Bank Raises Savings Rate
11/3 - Ivy Bank Raises Savings Rate
11/2 - Ivy Bank Increased Savings Account APY To 3.50%
10/12 - High Yield Savings Account Rate Has Changed From 2.70% To 3.10%
10/11 - Ivy Bank High-Yield Savings APY Increased To 3.10%
9/22 - Ivy Bank Savings At 2.7 % APY
8/22 - Ivy Bank Raises High-Yield Savings Rate Again
8/19 - Ivy Bank HYSA Now 2.30% APY
8/1 - Ivy Bank Savings Up To 2.15% APY
7/21 - Ivy Bank High Yield Savings Rate Now 1.90% ...
7/17 - Ivy Bank "One-Month Treasury Yield Indexed Savings Account"
7/7 - Ivy Bank Continues To Push High-Yield Savings Rate Upward
6/17 - Ivy Goes To 1.5% Interest
6/17 - Ivy Bank Ups High-Yield Savings Rate Again
6/17 - Ivy Bank Increases High Yield Savings To 1.50% APY
6/7 - Ivy Bank Pushes High-Yield Savings Account Rate Upward
3/11 - Ivy Bank Boosts High-Yield Savings Account Rate
Mo Money Mo Money!
Been with Ivy since July 2022 and had been earning interests with them since. Never had an issue and I love that they keep up with the Federal Reserve rate increases. Every time Fed increases their rates, Ivy increases theirs. Customer service been prompt and been moving money monthly in (check deposits, ACHs) and out (wire transfers) without a glitch. They have a great app also where I can see my daily interests earned. You got money to save, then earn more money with Ivy! I’ve earned thousands with them already. Extremely pleased. Not sure why all these negative reviewers had their accounts frozen, must had done something wrong. Blame others when they should reflect on themselves.
Joint And POD Is A Hassle
Account opening is easy as individual but adding joint is a hassle later still pending joint owner. Adding POD and getting confirmation is very difficult but ultimately done after 3 weeks. Customer service is great in answering email thru the bank email interface email. So far not called them. ACH transfer takes 3 days thru them both wats. Even pull from external bank takes 3 days.
Garbage-Don't Waste Your Time
Did not open the account with no reason, after long glitchy application process. Their system is broken and they don't give you any reason for not opening your account. I never have problems opening accounts!
After calls they say they don't deal with some states. Why are they on this website?
Jumping Through Hoops
Multiple roadblocks trying to set up a savings account with Ivy Bank and my application was ultimately declined, in spite of my multiple CDs among three banks, stock investments, eleven credit cards, and credits scores that have never been outside the 800s. I took my business elsewhere.
Data as of Q2 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 17870 |
| Year Established | 1834 |
| Employees | 483 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.37% |
| Return on Equity - YTD | 4.2% |
| Annual Interest Income | $172.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $7.08B$6.73B |
| Loans | Q2 2024vs Q2 2023 | $5.81B$5.51B |
| Deposits | Q2 2024vs Q2 2023 | $5.58B$5.11B |
| Equity Capital | Q2 2024vs Q2 2023 | $615.8MM$570.7MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $54MM$52MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $28.6MM$16.8MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |