Cross River Bank Review 2023
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
At a glance

CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Cross River Bank is best for savers seeking highly competitive interest rates and low fees. But it has just two branches — in New Jersey and New York — and is probably best suited for those living in these states, since the bank is highly localized.
Highlights
- High APY
- Low Min Balance
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

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 = 5/5
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 = 5/5
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 = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
Cross River Bank offers checking, money market and savings accounts as well as CDs. Consumers may find the highly-localized nature of this bank is a deal breaker, but consumers in the New York City and New Jersey area looking for great rates on deposit products may find it’s a good fit.
Pros
-
Checking and savings account rates are excellent.
-
There are no monthly service fees.
-
There are no minimum balances, except a low $500 minimum to open a CD.
Cons
-
There are just two branches, and they’re only open weekdays.
-
You must visit a branch to open an account.
-
Customer service hours are limited.
Cross River Bank banking products
FEATURES
Cross River Bank savings overview
Pros
-
You won’t be charged any monthly fees.
-
The same top-tier rate is available across all balances.
-
There’s no minimum balance to get started.
-
There’s no withdrawal limit.
Cons
-
Opening an account is more convenient elsewhere.
-
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Cross River BankAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

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 = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
Cross River Bank has just two branches, meaning you’ll do most of your banking online or over the phone. It only offers phone support on weekdays. Cross River Bank customers can use the highly rated TouchBanking app on the Apple App Store and Google Play Store to participate in mobile banking.
The bank only operates a few of its own ATMs and mainly relies on the MoneyPass network to serve its customers. MoneyPass is a large network but not the largest, so you might not always find a conveniently located ATM.
About Cross River Bank
Cross River Bank, based in Teaneck, New Jersey, offers fee-free accounts with no minimums and great interest rates. Beyond retail banking, the company is also involved in developing products and services for marketplace lending and payment processing with its fintech partners.
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.