Presidential Premier Savings Drops Monthly Maintenance Fee

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Looking at their account comparison chart, it looks like Presidential Bank has quietly dropped the monthly maintenance fee on their Premier Savings Account, currently paying 4.87% APY (for balances up to $35k). Previously, if you went below $5,000 you were hit with a monthly fee ($7.50 I believe). Ain’t competition grand? Their 4.50% APY checking account still has a $1,000 minimum.

You still need at least $5,000 to open the savings account, although you can take it all out afterwards. If you don’t have that kind of scratch, maybe you could borrow some for free from credit card companies?

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Comments

  1. I was going to tell you the breaking news that I saw a message on the login page, “Good News for PREMIER SAVINGS ACCOUNT customers! Effective immediately, there is no longer a monthly service charge associated with this account for not maintaining a minimum balance.” But you were all over this one already. Great job!

  2. This makes the savings account much more attractive. I might decide to open one up. Am I correct in my understanding that without a presidential checking account you would have to initiate ach transfers back and forth from another account, such as hsbc?

  3. I’d love to get a presidential account, but their hard credit pull isn’t really worth it to me. I’ve called them several times, asking if there’s any way around it, but no dice. HSBC is treating me pretty good right now, with their savings and free checking/etc. Between them, my Emigrant and ING accounts, hopefully they’ll get back ahead of pres soon.

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