Third Federal review: Better rates than many brick-and-mortar banks - Business Insider

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Third Federal pays better rates than many brick-and-mortar banks. But if you're searching for high rates and are open to banking online, you can find higher rates elsewhere

Minimum balance of $5,000 to earn APY; rate increases at $25,000 and $100,000No monthly service feesInterest compounded monthly, not dailyin person at a branch in Florida. You can't open one online or at an Ohio branch.There are some drawbacks to this account even if you are able to open one in Florida. The $5,000 minimum deposit is pretty steep, and you won't earn any interest on balances under $5,000. You'll need at least $100,000 to earn the highest APY.

The bank doesn't have its own ATM network, but you can use Fifth Third Bank ATMs nationwide. Withdraw from a Fifth Third Bank ATM for free four times per month, then pay $1.50 for each withdrawal.

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