Zynlo Bank Review: Checking, Savings and Money Market Accounts
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- Savings
- Money market
Overall institution rating
4.6
Zynlo Bank offers savings and money market accounts with strong rates. Customers with spending accounts also have the ability to round up debit card purchases and put the difference in a companion savings account. Zynlo will even match those roundups if certain balance requirements are met. Its mobile apps don't get top reviews, however.
Best for: Customers who are fine with banking online, who could benefit from an automatic savings feature on debit card purchases and who don't need overdraft protection.
» Want more options? See NerdWallet’s analysis of the best savings accounts and the best checking accounts
Pros
- No monthly fees.
- Competitive rate.
- Large, free, nationwide ATM network.
- 24/7 customer service by phone.
Cons
- No overdraft protection program.
- No branch access.
Full review
Zynlo Bank
Savings
Savings
Deposits are FDIC Insured
4.8
/5 NerdWallet ratingZynlo's savings account comes with a solid interest rate and a matching program tied to checking. There are no monthly fees and the minimum to open is $10.
» Ready to compare? See NerdWallet’s best high-yield savings accounts
The matching program can bolster savings for people who use the Zynlo debit card. Each card purchase gets rounded up to the nearest dollar, and the difference gets transferred from checking to savings.
Money market
Money market
Deposits are FDIC Insured
4.5
/5 NerdWallet ratingZynlo’s money market account offers a strong 5.00% on all balances up to $250,000. Higher balances earn less. It requires only $10 to open and there are no monthly fees. Though this account is not factored into the overall rating for this bank, it is a strong option and worth a look if you want something other than a traditional savings account.
Methodology
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
