Written by Ali Cybulski | Edited by Kim Porter | Published on 4/9/2025
Poppy Bank, based in Santa Rosa, California, opened in January 2005 and has since grown to $7 billion in assets. This regional bank, which expects to operate 45 branches across the state by the end of 2025, provides many personal and business banking products and services.
Consumers can choose from checking, savings and money market accounts, as well as certificates of deposit (CDs) and credit cards. Businesses can also access checking, savings and money market accounts, among other products and services.
Checking: The bank offers three types, including Poppy Personal Checking, Poppy Interest Checking and a student checking account. The Personal Checking and Interest Checking accounts require a $1,000 minimum balance and include a $10 monthly service charge and a $5 monthly fee if you opt for paper statements. The interest-bearing checking account earns an annual percentage yield (APY) of 0.05%; the student account requires a $50 minimum balance and does not charge a monthly fee.
Savings: Poppy Bank provides five selections. Poppy Personal Savings and Premier Personal Savings accounts, as with the bank’s checking accounts, require a minimum balance of $1,000. The Personal savings account earns an APY of 0.10%, and the Premier account receives an APY of 0.50%. These savings accounts come with a transaction fee of $5 per withdrawal after your sixth withdrawal, which may add up quickly. Electronic statements are free, but paper statements cost $5 per month.
Poppy Bank also offers an IRA savings account and a student savings account. The IRA savings account earns an APY of 0.20%, and the student account pays a competitive 4.00% APY. These accounts do not have monthly fees or transaction charges.
Lastly, the bank’s Premier Online Savings is a high-yield savings account with an APY of 4.50%. The account requires a minimum balance of $1,000 to earn the advertised APY, and fees apply when you exceed six monthly withdrawals.
Money market: This account requires a minimum balance of $1,000 and earns an APY of 0.10%. The monthly service charge is $10, and transaction fees apply.
CDs: The bank offers terms from three to 60 months, with a $1,000 minimum balance requirement. APYs range from 3.75% to 4.00%. An early withdrawal penalty of 3.00% of principal applies if you take money out of the CD before its maturity date.
Online banking: Poppy Bank allows you to handle many banking tasks online, including opening an account, transferring funds, and making loan payments. You can access your accounts online, print statements, reorder checks and take advantage of mobile deposit, among other functions. Bank customers can also send and receive money with friends and family members using Zelle.
Customer service: Visit one of Poppy Bank’s branches if you live near one. You can also call 888-636-9994 for help from 8 a.m. to 8 p.m. Monday through Friday.
Poppy Bank pros and cons
Pros:
• Earns competitive rate on high-yield savings account
• Offers variety of products and services, including business banking
• Allows access to about 40,000 ATMs in the MoneyPass network
Cons:
• Needs $1,000 minimum investment for CD
• Requires $1,000 minimum balance to earn high-yield savings rate
• Charges a per-transaction fee when you exceed six monthly withdrawals on most accounts
More Like Poopy Bank
Like some other reviewer said, dealing with the employees at this poopy bank was a nightmare. Infinite holds and then hang ups are the norm. Dont even expect that someone will respond to the messages you left for them. Some of them dont even know what a credit bureau is or what a credit report is, the level of ignorance and arrogance I saw was surprising from this poopy bank.
The worst is so called chief banking officer of this poopy bank, Michael Finn, he flat out lies in response to complaints and then cries that his feelings got hurt. If you lie, some people are going to call you out for lying. So 2 easy solutions, either stop lying or start wearing diapers because sooner or later you are going to get caught with your pants down and with poop in your pants, and the whole world will know what kind of poopy bank you are running.
Pathetic ACH Limits
They may have the highest interest rate but they certainly do not want you to deposit any funds
ACH limits when originated from Poppy are 10k per transaction, 30k monthly to any outside institution.
Poppy Bank Has Compromised My Security By Sharing My Sensitive Private Information With The Foreign Nationals At Chex Systems!
Upon applying for the account, I was assured by poppy bank's staff and the Chief banking officer, Michael Finn that my Government protected sensitive information would not be shared with a third party like the Chex Systems. Then later I found out that my private information was shared with the Chex Systems that operates with all foreign national staff in India and posting all the private information of the individuals on their website with a little to no security. I left a message for Michael Finn at the bank, but he did not return my call. Now I have to deal with the consequence of their action.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57903 |
| Year Established | 2005 |
| Employees | 240 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.79% |
| Return on Equity - YTD | 8.83% |
| Annual Interest Income | $367.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $6.94B$5.9B |
| Loans | Q4 2024vs Q4 2023 | $4.83B$3.74B |
| Deposits | Q4 2024vs Q4 2023 | $5.75B$4.31B |
| Equity Capital | Q4 2024vs Q4 2023 | $599.2MM$534.5MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $80MM$84.1MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $88.8MM$27.9MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $16.6MM$7.8MM |
