Contents
The Offer
Direct Link to offer | Maxmyinterest link | All rates
- Customers Bank is offering a savings account with 5.01% APY when opened through Maxmyinterest.
- Maxmyinterest does have ongoing fees of .04% per quarter, but you can cancel Maxmyinterest after opening the account and avoid the fees.
Our Verdict
This tops all other savings accounts we’ve seen so far. Once opened through Maxmyinterest, you’ll have an ordinary Customers Bank login and account number. We’ve added this to our list of top savings rates. More discussion here. Feel free to add your experiences in the comments below.
Hat tip to midas89
Does anyone know if Customers offers free checks for the checking account? thanks
I thought their checking account was in branch only. Or do you already have one?
I got mine online in late 2022. I started with max and then got hyds and I think I got checking together with that. I recently started to use Customers as my main account for everything (was using Citi so far), so thats why was wondering about checks
Got it, thanks so much!
Thanks for the Roger update. I am sure you saw Frugal posted he or she was declined from getting a temporary Roger ACH increase. We’ll see if the same happens to you, of course.
Customers Bank Max Savings Account increased from 3.91% APY to 4.02% APY today. (Still remains very disappointing, of course.)
The 4 highest APYs for accounts opened through Maxmyinterest as of today are Veritex Community Bank 4.34%*, UFB Direct, a division of Axos Bank 4.31%*, Fieldpoint Private 4.02%*, Customers Bank 3.91%.
Just opened a new Customers Bank account through MMI as a joint account with P2 with frozen Chex for both. The account opened with no Chex pull. Is there anything else I need to do after the 30 days waiting period to enable same-day ACH or will it be enabled automatically? At what point can I close my MMI account or should I just keep it open without the optimization step?
ACH should show up automatically. What did you use for the MMI checking requirement?
US Bank checking
Hmm, I was able to link my external account to Customers AND submit a same day pull transfer request. Wasn’t this supposed to be blocked for the first 30 days?
PaulinTexas
Could be that Customers Bank rescinded the 30-day delay policy after they saw that only allowing Plaid direct linking to confirm external accounts and not allowing trial deposits reduced the chance of fraud. I don’t know for sure, of course.
CB has been lenient with Chex for long since they are very involved with EWS, including reporting every transaction on the account!
Oh wow, that was fast. I did a test with $10, pulled them from my other bank yesterday at 11:01 AM into the CB joint account and pushed them to P2s Wells Fargo at 4:39 PM. The amount shows as Pending in WF as of this morning. Anyone knows the same-day transfer windows? Would it be possible to pull/push an amount the same day? This would be a great way to transfer from P1 to P2 and vice versa using a CB joint account in between. Would you risk trying this with 250k and a new CB account? Wonder if there is a risk of extended holds for larger amounts… Thanks again
Same Day – M-F
AM Windows – before 8 & 9 AM – funds arrive between 12:00 – 1:00 PM
PM Windows – after 9 AM to 2 PM – funds arrive around 6:30 PM
I push/pull the same day all the time because there are no holds on pulled funds. That’s one of the primary reasons I use CB because you can move funds between accounts w/o losing any interest. The $250K daily/$1.5M Monthly limits are based on the combined CB scheduled push/pulls. This means you have to plan out larger transfers.
Let’s say you need to pull $250K from Bank A and push it to Bank B. Based on the limits above it would take two days; however, there is a work around using an overnight pull. Why? because the pull is scheduled the prior afternoon (2:30PM to 7:00 PM), and it will count towards that day’s limit. In the morning the $250K will be at CB and you can then push out the $250K same day.
Overnight Window – After 2:30 PM to 7 PM
Useful if your pulling funds – counts towards the current day transfer limits and funds are sitting in your account in the morning. It’s a win-win because you don’t lose any interest, and the funds are available to cover any scheduled debits or to transfer out in the AM window.
After 7:00 PM Window – you can schedule same-day transfers that will be processed the next business day during the 8 AM window. So, any time after 7 PM on Friday through 8 AM the next business day, you can schedule same-day transfers in advance. Very helpful when you have a lot of transfers to do so you aren’t rushing against the clock in the morning to get everything scheduled.
Another note: P1 & P2 need their own logon credentials to link individual accounts to push/pull funds. The CB daily/monthly limits are shared & based on the account, not the individual profiles.
Considering they had a 30-day moratorium on transfers, I’d be cautious the first month, but you have the ability to do same-day transfers now, so use it!! If it were me, I’d schedule a $250K transfer just to test the waters, but I wouldn’t go hog wild with a lot of large transfers the first month.
“Overnight Window – After 2:30 PM to 7 PM
… the funds are available to cover any scheduled debits…” –
Did you have much experience about this? For example covering a scheduled credit card payment that normally post very early in the day?
I have always worried about such. Any DP is appreciated.
However, I’d definitely test/verify that CB hasn’t imposed a limit on what you can/can’t transfer. To do that, I’d schedule a $250K pull, using a future date. If it is approved, it will appear as a pending “Authorized” transfer. As long as it’s in this status you cancel it or make changes to it. To do that go to E-Banking Activity tab, click on the 3 vertical dots. Now you can “Cancel” it. The “Edit” option lets you change the “Amount”, the “From Account” or “To Account” or even the “Send On” date. I have fat fingers and have used both “Cancel” & “Edit” options.
So, with all that said, you need to do what is most comfortable for you.
No luck… maximum I could schedule was 3000… so there still seem to be some limits in place for the first 30 days 🙁
I don’t have a Customers Bank account. Do I need to open one through Maxmyinterest to get same-day ACH with high limits? Or would opening the account directly will work too? It seems that opening with Customers is currently 4.23% APY while through Maxmyinterest is only 4.11% APY. Thank you
It would be nice if Customers Bank would adopt CIT Bank’s continued policy of allowing trial deposits as an option to link external accounts, and not making people wait a month before they can even utilize ACH transfers.
It would be nice if CIT Bank would adopt Customers Bank’s policy of the option for same-day ACH, and not having to wait 5 business days before money pulled into CIT can be withdrawn. (At least CIT will pay interest during the hold time, and they do offer next-day ACH transfer speed.) (No hold time if money is pushed into CIT.)
CIT Bank offers free wire transfers ($1,000 minimum transfer amount) if one’s balance is $25K+. CIT ACH Limits: $250K per day push, $500k per day pull, no monthly maximum.
ACH Transactions per month: Unlimited
Number of linked accounts: 10
CIT current APY is 4.35% for balances $5,000+.
I was fortunate to open my Customers Bank accounts before the month-long ACH lockout for newbies, and before they forced Plaid-direct external account linking without the trial deposit option. But I’ve run into the frustrating problem of having opened up a new account that is not listed with Plaid, so I cannot link Customers Bank to it. I have to use my CIT Bank account to do the transfers instead.
I hope your opening up of your new Customers Bank account goes well for you.
Wondering if anyone set up any ACH today? My pull from LC showed up very early this morning, I think I checked around 2 or 3 this morning. So I took a risk and decided to push it out to the destination bank. It was debited immediately (as usual) but hasnt shown up at the destination yet. I hope I dont lose the weekend interest 🙂
Thank you as always!
Yes, I woke up in the middle of the night for some reason. Checked the Customers transfer status first and that had shown up and then checked the WF account and everything had settled and it was showing I have 226.5k of WMPXX. In hindsight, it was good that my Customers limit ran out the previous week and I wasnt relying on that to the transfer to Wells 🙂
Thanks for answering all my questions related to that, I know I asked a lot.
Today, I inquired again about the lack of the trial deposits option when trying to link an external account that is not listed with Plaid. I was told they had a meeting about re-adding the feature and decided they will not add this option back. So, it appears the Plaid-instant-linking-only option is permanent. If you happen to have an account at a bank that is not listed in the Plaid list, it will be impossible to link your account at Customers in order to do ACH push or pulls.
Amex savings is listed in Plaid but still could not be linked.
Frustrating for sure, JasonJ. Customers Bank used to be a perfect hub bank until they eliminated the option to send the two trial deposits to successfully link any and all external bank and credit union accounts. They are still a great hub bank, just not perfect anymore for all people.
Cool, thanks for the good news, that means we can link Zynlo now. I guess enough people complained for them to make the change
Unfortunately Fidelity still can not be linked.
I just checked my list of external accounts and I only have Fidelity CMA and that is already linked and I dont remember if I linked that before or after Plaid
Fidelity used to work with Plaid until sometime 2023, stopped citing security reasons.
Just show “Something went wrong” after clicking the “Authorize” button.
Regarding pulling the penny back: Earlier this week I did the $.01 via Plaid at another bank to link that bank with 3 different externals, and the $.01 was not pulled back for those. Thank you again.
Assuming someone at Customers Bank occasionally reads the comments about them at sites like DoC, I’d like to express thank you for restoring the manual linking option, and for the same-day delivery when we get the requests in before the cut-off time.
H
midas89 I just came back here to report the same. To me this looks like a new functionality from Plaid and if thats true I hope it shows up with other banks thats use Plaid as well. I was able to link my Zynlo checking and saving
Just FYI for Customers Bank users.. I was going crazy thinking why my funds werent showing up and it was already past 2, was looking up the number to call and then saw the banner at the top
We are currently experiencing issues processing ACH and Wire Transfers. Please refrain from initiating additional transactions at this time as we work to resolve this issue as quickly as possible. We will update you once functionality resumes. We apologize for any inconvenience.
Last time everything was delayed a full day.
Looks like too late for them to sort out anything today. I had a 24k pull into Cust but I dont see it debited form the other bank yet. I wish US had a decent instant money movement system like other countries accessible to everyone with any bank account/s.
Anyways, just to update you on my attempt to get funds to WellsFargo. Since I had used up all of my Customers monthly limit, I couldnt rely on Cust and knowing that they are having issues today, maybe someone was looking out for me 🙂
So I pulled the money into LC from Marcus on Friday and then early this morning around 1-2 AM, the hold was over and I set up Wire Transfer from LC to WF Premier (only that one gets free incoming WT). I thought I will be the first in queue when they start sending wires at 9M but nothing till a little bit after 12. Got a call from their number and no one on the other side and then it disconnected. So I called right back and as I was talking to a rep, got email that my wire was sent and logged into WF after hanging up with the rep and the money was there. Left $1 in Premier and $25,010 in Platinum Savings, and moved everything else to Trade (approx 226.5k) and did my order for WMPXX. My order status still says “Open”, I guess that is expected and will change after 4PM?
thanks
I know the daily limit but what is Customers monthly limit?
TIA.
fdic & PaulinTexas, I too had an ACH transfer that should have gone out today, but did not due to the outage.
I wonder if they will just cancel these or schedule them for tomorrow? My pull hasnt showed up at the external bank yet
Thanks for the info. Mine was setup at around 3 AM and says processed
The 4 highest APYs for accounts opened through Maxmyinterest as of today are Veritex Community Bank 4.41%*, Fieldpoint Private 4.40%*, UFB Direct, a division of Axos Bank 4.31%*, Customers Bank 4.11%.