M.Y. Safra Bank Review 2022
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M.Y. Safra Bank offers personal and business clients an array of deposit products and loans. It has a branch in New York City and offers an online banking division called MYSB Direct.
- ATM Fee Refunds
- High APY
M.Y. Safra Bank operates a branch in New York City and also offers strictly online accounts. It provides a full range of personal and business deposit products as well as loans and lines of credit.
CDs are available in 18 terms that span from 30 days to five years.
M.Y. Safra Bank’s online division, MYSB Direct, offers competitive CD rates for some terms.
A monthly rebate allowance is provided for non-M.Y. Safra Bank ATM fees.
The bank also offers mortgage loans and home equity lines of credit.
It also offers currency conversion and sells precious metals to customers.
M.Y. Safra Bank only has one branch.
No peer-to-peer payments service is available, such as Zelle or Popmoney.
M.Y. Safra Bank bank products
M.Y. Safra Bank savings overview
The yield on the Silver Savings account is higher than the national average.
The SIlver Savings account requires a minimum opening deposit of just $100.
Up to $30 in rebates is provided each month for fees associated with non-M.Y. Safra Bank ATMs.
A minimum balance of $5,000 is required to earn any interest in the Silver Savings account.
A high minimum relationship balance of $25,000 is needed to waive the $5 monthly fee, when the savings account balance drops below $1,000.
M.Y. Safra Bank provides all the basic deposit products for both consumers and businesses. Many of the CD rates are competitive, whereas you’ll likely be able to find a higher yield on money market and savings accounts elsewhere.
The bank operates just one branch, located in New York City. An online division called MYSB Direct is available, however, which provides higher CD rates than for accounts opened in person.
M.Y. Safra Bank also provides deposit, cash management and lending services to private clients. It also offers currency conversion and the purchasing of U.S. Mint American Eagle Gold Coins.
About M.Y. Safra Bank
M.Y. Safra Bank’s roots date back to the 19th century when the Safra family began financing international trade. Today the bank offers a wide range of products, including deposit accounts, wealth management, loans, lines of credit and currency conversion. It operates just one branch in New York City, although it also offers online-only accounts.
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