Deposits held and insured by PeoplesBank

Overview / Commentary
330 Whitney Avenue
Holyoke, MA 01040
Deposits held and insured by PeoplesBank

Related Posts

Zynlo Quietly Adds 2Nd Acct Type With Increased Rates (1.75% APY) - 8/19/2022

Zynlo has followed in the footsteps of CIT Bank, Northern Bank, Emigrant, and Popular in creating a new Money Market accounts and offering higher rates via that account and leaving current account holders earning much lower. The new More Money Market earns 1.75% APY (while the older money market identical in all but name earns 1.25% APY). Congratulations Zynlo, I've added you to my wall of shame.

Zynlo Finally Raises Rates... 1.25% APY - 7/16/2022

Zynlo ups rates (from .8% to 1.25%). https://www.bankatpeoples.com/home/fiFiles/static/documents/Zynlo-Rates.pdf

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SUPERB. 6 Stars!!

Posted by: |

Since I was the one who posted the message about Zynlo in the Bank Promotions forum a couple weeks ago, I guess that it's appropriate that I post the first review of this AWESOME bank. Opening an account took less than 5 minutes. I had 2 questions about the account during the onboarding process, and both queries were replied to IMMEDIATELY. Two business days after I opened the account, I verified 2 micro-deposits and transferred $50k into my Zynlo account. My funding bank account had a balance of about $120k, and since incoming external transfers are limited to $50k/month, it would have taken until May to transfer my entire balance. Not a problem - I called a very helpful rep at Zynlo, explained my situation, and a couple of hours later she called back and told me that the $50k monthly limit would be waived! 1.25% APY!! Zynlo ROCKS!!

Trouble Linking From Customers Bank

Posted by: |

Given Zynlo's tiny internal ACH limits, I tried to setup an external link from Customer's Bank to do initiate externally. Customer's setup tries to login to Zynlo, but fails probably because they are using the old Zynlo online link rather than the new one.

I also tried one of my other banks that uses a popular transfer service (forget the name) that also couldn't do zynlo.

A little frustrating given Zynlos low limits.

Stuck At ,80

Posted by: |

Zynlo use to have one of the best money market rate. Rates are going up at most banks but not this one.

Avoid! Delayed Interest Rate Increases, Withheld Interest If Close Before End Of Month.

Avoid if you would like to be treated fairly. Rather than increase your interest rate for existing accounts to match the new account rate they advertise, they leave existing accounts at lower interest rates.

When you close your account, be sure to wait until the last day of the month. Otherwise, they keep all interest that accrued during the month.

Recently closed accounts and they kept over $200 interest that had accrued in the time between 10/1 and 10/20.

Also, they will NOT allow wire transfers of your funds. They require 10 days to "process" and then snail mail you a cashier's check. Pathetic way to hold on to your assets and not pay you for the interest that is accruing during that time.

This bank functions to steal your money!!



Data as of Q2 2022

Data displayed below is for insuring bank: PeoplesBank
Learn why bank health matters

Health Grade Components

FDIC Certificate #90213
Year Established1885
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.81%
Return on Equity - YTD8.62%
Annual Interest Income$54.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$3.51B$3.58B
LoansQ2 2022vs Q2 2021$2.66B$2.32B
DepositsQ2 2022vs Q2 2021$3.04B$2.73B
Equity CapitalQ2 2022vs Q2 2021$331.1MM$327.0MM
Loan Loss AllowanceQ2 2022vs Q2 2021$25.9MM$23.2MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$15.2MM$15.4MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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Always verify rates and promotions with the bank or credit union. We are not ZYNLO Bank; 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.

ZYNLO Bank Savings Account Rates

0.75%--Tomorrow Savings

ZYNLO Bank Money Market Rates

1.25%*-$250kZynlo Money Market
OTHER TIERS: 0.10% $250k+

ZYNLO Bank Checking Account Rates

0.50%--More Spending

ZYNLO Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 330 Whitney Avenue - Holyoke, MA 01040

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.