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Associated Bank Review 2024

Updated January 30, 2024
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At a glance

3.6
Rating: 3.6 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.8 stars out of 5

Checking

Rating: 4.3 stars out of 5

Savings

Rating: 2.3 stars out of 5

MMA

Rating: 2.5 stars out of 5

About Bankrate Score

Overview

Associated Bank is best for Midwesterners looking for a regional bank with a large branch network. Savers won’t find high yields at this bank, but they will find a convenient and highly- accessible checking account with a well-made digital banking experience.

Highlights

  • Highly Rated App
Sponsored offers
Info

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 5/24/2024
Rating: 4.4 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
4.35
%
APY
APY
Info
As of 5/24/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
CD
5.10
%
APY
APY
Info
As of 5/24/2024
Rating: 4.9 stars out of 5
$500
Minimum deposit
View offer Arrow Right
Promoted offer:

Overall

Associated Bank offers a regional banking experience for customers in the Midwest. Although its branches are limited to just three states, Associated’s large ATM network extends its banking footprint past the Midwest, where the bank mainly operates. Interest rates are low for Associated Bank’s CDs, savings and money market accounts, and various fees apply, but they offer stellar checking accounts that make digital banking easy.

Pros

  • Checkmark

    The checking account comes without monthly fees or minimum balance requirements and offers lots of great features.

  • Checkmark

    Associated Bank is part of the MoneyPass ATM network and provides fee-free access to around 40,000 ATMs nationwide.

  • Checkmark

    Digital banking features include Bill Pay and Zelle.

Cons

  • You must be a resident of one of these states to open a deposit account: Wisconsin, Minnesota, Illinois, Missouri, Ohio, Indiana, Michigan, Kansas or Iowa.

  • Savers can generally find higher yields elsewhere.

  • A plethora of account fees bogs down the banking experience.

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Associated Bank banking products

2.3
Rating: 2.3 stars out of 5
Bankrate Score

Associated Bank savings overview

Associated Bank’s Associated Savings account can be opened with just $10. There’s a $5 monthly maintenance fee that can be waived if you maintain a $300 minimum daily balance or have $25 or more in recurring automatic deposits per month.

Though the account is relatively easy to open, it pays a very low APY, regardless of how much money you deposit into the account. Moreover, the account is only available to residents in Wisconsin, Minnesota, Illinois, Missouri, Ohio, Indiana, Michigan, Kansas and Iowa.

Pros

  • Checkmark

    There’s a low $10 minimum deposit to open the account.

  • Checkmark

    The $5 monthly fee is easy to waive.

Cons

  • Much higher yields can be found elsewhere.

  • Associated Bank charges a $3.50 fee for using non-Associated ATMs after two free withdrawals per statement cycle.

  • This account can only be opened in select markets.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    Associated Bank
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Sponsored Offer
Info

This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 5/24/2024
Rating: 4.4 stars out of 5
Info
$1
Min balance for APY
Promoted offer:

Bank fees

Fee Charged?
Overdraft fee $32
Non-sufficient funds fee None
Monthly maintenance fees $0 - $20
Out-of-network ATM fee $3.50*
Excessive transaction fee None
*For savings and money market accounts, the first two withdrawals per statement cycle are free.

About Associated Bank

Headquartered in Green Bay, Wisconsin, Associated Bank was established in 1874 as Kellogg-Citizens National Bank of Green Bay. The bank remains focused on the Midwestern region of the U.S., offering a large variety of consumer and business deposit accounts, plus corporate and commercial services in addition to investment management.

Associated Bank has nearly 200 branches located in Wisconsin, Minnesota and Illinois, but its offerings extend to all residents of Missouri, Ohio, Indiana, Michigan, Kansas and Iowa, too. In other words, you need to live in one of these nine states to open an account.

Customer experience

Customer service. Customers can speak with representatives over the phone on Monday through Friday, from 7 a.m. to 9 p.m. Central time, and Saturdays from 8 a.m. to 5 p.m. Central time. The bank is closed on Sunday and holidays, but you can use their automated telephone banking service 24/7, which lets you check your account balance and transactions, in addition to making transfers and reporting lost or stolen debit cards. Along with its own fleet of ATMs, Associated Bank is part of the MoneyPass network, which boasts approximately 40,000 ATMs nationwide.

Digital experience. Associated Bank’s app is highly rated on both the Apple App Store and Google Play Store. Through the mobile app, you can make mobile deposits, make peer-to-peer transactions via Zelle and pay your bills via Bill Pay.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.