IGObanking Review
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Edited by
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At a glance
Overview
Anyone seeking competitive rates on a deposit account and comfortable with banking exclusively online may find iGObanking worth a look. But if you’re looking for in-person service, or a bank with a wide range of CD terms to build a ladder, go with a different option.
Highlights:
High APY No Monthly FeesHighlights:
CDs
Checking
Savings
MMA
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.2/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
IGObanking, an online division of Flushing Bank, offers a range of deposit products to consumers nationwide. It’s notable for its lack of monthly fees across account types and its money market account is a standout for bigger savers, offering rates more than six times the national average.
Pros
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IGOBanking offers competitive rates across deposit products.
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It charges no monthly fee on any of its products.
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Customers can earn a bonus rate on the iGOsavings Plus savings account by meeting certain requirements.
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You can earn a gift for opening a CD with at least $25,000.
Cons
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The iGOsavings Plus savings account bonus rate applies only on balances up to $25,000.
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The checking account doesn’t earn any interest.
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A steep $25,000 deposit is needed to open the money market account.
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Balances below $25,000 in the money market account earn no interest.
iGObanking banking products
iGObanking savings overview
Pros
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Both the iGOsavings Plus and the iGOSavings accounts charge no monthly fee.
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No minimum deposit is required to open either savings account.
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IGO savings Plus customers can earn a bonus rate by meeting certain requirements.
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The iGOsavings Plus account reimburses ATM fees up to $15 a month.
Cons
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The bonus rate applies only on balances up to $25,000.
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The iGOsavings Plus account’s lowest balance tier ($5,000 or less) earns the highest APY.
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You’ll need to open the iGOchecking account and keep $1,000 in it to earn the iGOsavings Plus bonus rate.
iGObanking CD overview
Pros
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All CD terms pay a competitive annual percentage yield (APY).
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Only $1,000 is needed to open a CD.
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You can earn a gift by opening a CD at iGObanking.
Cons
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Savers looking for longer-term CDs will need to look elsewhere.
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No specialty CDs are available.
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You’ll need to open a CD with at least $25,000 to receive a gift.
iGObanking money market overview
Pros
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The iGOmoneymarket account pays a competitive APY.
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It charges no monthly service fee.
Cons
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A steep $25,000 deposit is needed to open the account.
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Check-writing privileges aren’t available.
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Balances below $25,000 don’t earn interest.
iGObanking checking overview
Pros
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There’s no monthly maintenance fee.
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There’s no minimum balance requirement.
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The iGOChecking account doesn’t have NSF fees or overdraft fees.
Cons
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IGObanking’s checking account doesn’t earn interest.
Bank fees
| Fee | Charged? | |
|---|---|---|
| Overdraft fee | None | |
| Non-sufficient funds fee | None | |
| Monthly maintenance fees | None | |
| Out-of-network ATM fee | None | |
| Excessive transaction fee | None |
Customer experience
Customer service. Customer service representatives are available live by phone seven days a week, 7 a.m. to 11 p.m. Eastern time. You can also submit your question through a form on their website.
Digital experience. Digital banking can be done online or through iGoBanking’s app on both the Apple App and Google Play Stores. The app earned good reviews from iOS users and Android users. Through the app, customers can set up account alerts, deposit checks, pay bills and more. IGObanking customers can use the bank’s app to send money through Zelle.
We want to know what you think about iGObanking
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Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
