iGObanking Review 2021

Published January 2021 by Lance Davis

AT A GLANCE
4.4

Bankrate Score

bank-logo

High APYs

No monthly fees

IGObanking is great for consumers who want an online banking experience and competitive rates on their deposits.

  • CDs
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    4.4
  • Savings
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    3.9
  • Checking
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    4.5
  • MMAs
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    4.4
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    Sallie Mae

    Member FDIC

    MMA

    0.40 % APY

    $ 0

    Min. balance for APY

    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.70 % APY

    18mo

    Term

    $ 500

    Min. deposit

    Overall

    4.4

    Bankrate Score

    IGObanking, an online division of Flushing Bank, offers a range of deposit products to consumers nationwide.

    What we like

    • IGOBanking offers competitive rates across deposit products.

    • None of the products charges a monthly fee.

    • Customers can earn a bonus rate on the savings account by meeting certain requirements.

    What we don't

    • The savings account bonus rate applies only on balances up to $25,000.

    • A steep $25,000 deposit is needed to open the money market account.

    CD rates

    4.4

    Bankrate Score

    OTHER CD OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.70 % APY

    18mo

    Term

    $ 500

    Min. deposit

    IGObanking offers three CD terms: six months, 12 months and 18 months. Each CD requires a $1,000 to open, and they all pay a very strong APY.

    The bank doesn’t offer any specialty CDs, such as a bump-up or no-penalty CD.

    What we like

    • All CD terms pay a very competitive yield.

    • Only a $1,000 deposit is needed to open a CD.

    What we don't

    • Savers looking for longer-term CDs will need to look elsewhere.

    • No specialty CDs are available.

    Savings accounts

    3.9

    Bankrate Score

    OTHER SAVINGS OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    The bank’s iGOsavings Plus account offers customers a savings account with no monthly fee. No minimum deposit is required to open the account.

    The account pays an APY that’s above the national average, but customers can earn a bonus rate if they maintain a minimum average monthly balance of $1,000 in an iGOchecking account. The bonus rate applies only to balances up to $25,000. Any balance above that threshold will earn the standard APY.

    What we like

    • The iGOsavings Plus account doesn’t require a monthly fee.

    • No minimum deposit is required to open the account.

    • Customers can earn a bonus rate by meeting certain requirements.

    What we don't

    • The bonus rate applies only on balances up to $25,000.

    Checking accounts

    4.5

    Bankrate Score

    OTHER CHECKING OFFERS YOU MAY LIKE
    Quontic Bank

    Member FDIC

    Checking account

    1.01 % APY

    $ 100

    To open

    $ 0

    To avoid fees

    IGOBanking offers a high-interest checking account called iGOchecking. The account doesn’t require a minimum deposit to open, and it doesn’t charge a monthly fee. It even pays a competitive APY for a checking account.

    Account holders get access to a Mastercard iGOdebitcard to access more than 55,000 fee-free ATMs through the Allpoint network. The account doesn’t offer access to a peer-to-peer payment service such as Zelle, however.

    What we like

    • The iGOchecking account doesn’t require a minimum deposit to open.

    • There’s no monthly maintenance fee.

    • It pays a competitive yield for a checking account.

    What we don't

    • Customers don’t get access to a P2P payment service like Zelle.

    Money market accounts

    4.4

    Bankrate Score

    IGObanking’s money market account is called iGOmoneymarket. It pays a very competitive yield, but customers will need at least a $25,000 deposit to open the account. It doesn’t charge a monthly fee. And it doesn’t offer check-writing privileges either.

    What we like

    • The iGOmoneymarket pays a very competitive APY.

    • It doesn’t charge a monthly service fee.

    What we don't

    • A steep $25,000 deposit is needed to open the account.

    • It doesn’t offer check-writing privileges.

    Bank experience

    IGObanking offers a digital banking experience to consumers nationwide. It offers online banking as well as mobile apps for iOS and Android devices. Customers can set alerts from their online account, and also deposit checks, pay bills and more from their mobile device.

    Customer service representatives are available seven days a week from 7 a.m. to 11 p.m. Eastern.

    About iGObanking

    IGObanking, an online division of Flushing Bank, offers a range of deposit products to consumers nationwide. The bank says it’s “focused on delivering a superior banking experience — one that enables you to bank where, when, and how you choose.” To support that mission, it offers competitive rates, multiple deposit accounts and money management tools.

    Lance Davis Twitter Created with Sketch. @LRD0015

    Lance Davis Twitter Created with Sketch. @LRD0015

    Lance Davis is the senior editorial director for Bankrate, overseeing content for mortgages, deposits, investing, loans and insurance. Lance leads a team of more than 20 editors and reporters who are passionate about creating content that helps readers make smarter financial decisions. Lance started at Bankrate as a copy editor in 2013, where he learned the finer points of personal finance while reading almost every article before it was published. In this role, Lance saw how small moves today can have a big impact on your financial future. He developed a passion for sharing these lessons to help others budget their money, buy a house, save for retirement and more. Lance also gets involved with fun projects like hosting Bankrate’s webinars with Greg McBride and publishing the annual Best Banks list, which has been cited by MSN, Fox Business, The Points Guy, among others. When he’s not reading Bankrate articles or playing around on the retirement calculator, Lance enjoys following sports, going on runs and reading books. He dreams of being able to retire early and buy a home on a beach where the temperature rarely falls south of 60. Lance earned his bachelor’s degree in journalism from Auburn University in 2013. Have feedback or suggestions for the editorial team? Send Lance an email at lance.davis@bankrate.com.