Like many online banks, Primis Bank offers a competitive savings account interest rate. You'll earn 5.07% APY, with interest compounding monthly. It takes just $1 to open an account, and there are no no monthly service fee, incoming wire fees, or limits on the number of monthly transactions (many banks charge a per-transaction fee if you go over six transactions).

Checking accounts don't usually pay interest. However, the Primis Premium high-yield checking account pays the same as its savings account: 5.07% APY with a minimum opening deposit of just $1 (and there's no minimum balance required to earn interest). The bank offers early direct deposit, so you can get cash up to two days earlier than your regularly scheduled payday. Fees for ATM transactions at non-Primis ATMs are refunded to your account the business day your statement cycle ends. Cashier's checks, stop payments, and your first pack of Primis checks are free. There are no annual or monthly fees, overdraft fees, in-person notary fees, or incoming wire fees (domestic or international).

With the Primis Perks Checking account, you'll get $0.50 back on every debit card purchase (ATM transactions don't count) — but you won't earn any interest. If you typically carry a small balance and use your debit card frequently, you might come out ahead with a Primis Perks account. However, if you tend to have a higher balance and don't make many debit card purchases, you might benefit from the 5.07% APY offered by the Primis Premium checking account. Otherwise, the two checking accounts are basically the same, with free cashier's checks, stop payments, and starter checks — plus the same $0 maintenance, overdraft, in-person notary, and incoming wire fees.

The minimum deposit for a Primis CD is just $250, which is low compared to many banks, and you can choose from an array of terms ranging from six months to 72 months. Early withdrawal penalties range from three to six months, depending on the CD term.

People may wonder why I bother with him, and I'll explain. I just had a big class reunion, and there were several from the "i'm so damn smart" crowd who just have to explain to you how stupid you are and how successful they are. Ok maybe not several but certainly One. This is Evil in a nutshell who completely dismisses any and all criticism of Primis and tells us we are just haters and liars and stupid. He can't deal with the fact that Primis is now almost middle of the road, ok top third, as far as internet bank saving rates for individual non business savers, has no answer when I point out you can do better with treasuries and has no answer to any legitimate criticism as well, such as one hour plus holds. Nope. He's too in love. And probably on the payroll. My wife and I are simple people living in Columbus snow birding in Myrtle Beach and going on our 38th year of marriage. We both have financial backgrounds but I certainly can learn much more, and that's why I come to this board looking for some ideas. My wife does as well but won't say boo. There are some good ideas, and then there is Evil who is that bloody mouth at the class reunion you want to punch. And that's why I cant stand Evil Capitalist. I just wanted to explain myself. My wife is already mortified by this post :). He brings the worst out of me. If need be delete. As Evil would say, I couldn't care less. He needs to tone it down, and so do I, and will.

I had earlier submitted a one star rating on this bank, but after updated information realized that it is #1. The interest rate of 6% is the best in the US and only requires a direct deposit and then is good for 6 months starting with the next statement following the direct deposit. Their Customer Service is ALWAYS available and any inquiry is handled immediately. Some rate their mobile app as average, but I am able to do anything I want on mine. There are really no fees and there is really no competition for this bank currently. The only downside is their financial stability from the 4th quarter of 2023 but it seems to be on the upswing and they are also current on their FDIC backing. Finally I was able to connect my Primis Account to my two major bank hubs so if Primis runs into trouble I can remove all of my funds within one day. Looking forward to doing busines with Primis!

I had earlier submitted a one star rating on this bank, but after updated information realized that it is #1. The interest rate of 6% is the best in the US and only requires a direct deposit and then is good for 6 months starting with the next statement following the direct deposit. Their Customer Service is ALWAYS available and any inquiry is handled immediately. Some rate their mobile app as average, but I am able to do anything I want on mine. There are really no fees and there is really no competition for this bank currently. The only downside is their financial stability from the 4th quarter of 2023 but it seems to be on the upswing and they are also current on their FDIC backing. Finally I was able to connect my Primis Account to my two major bank hubs so if Primis runs into trouble I can remove all of my funds within one day. Looking forward to doing busines with Primis!

The high-yield account takes home the 2023 award for Best Overall Checking Account. RICHMOND, VA — One of Primis Bank’s online-only accounts has been named the 2023 Best Overall Checking Account by WalletHub. Primis Premium Checking, which carries one of the nation’s highest annual yields, takes home the award after gaining lots of attention since releasing in January. WalletHub is a personal finance company dedicated to helping consumers live their best lives financially with free credit reports, financial tools, and product reviews and recommendations. Their annual review for their awards pulls in experts in all fields to determine the best products and services for their users. https://primisbank.com/news/primis-premium-checking-named-wallethubs-best-bank-account/ https://wallethub.com/best-checking-accounts