Northpointe Bank Review 2020

Published May 2020 by TJ Porter

AT A GLANCE
4.3
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Bankrate Score

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Rates Trending Up

High APYs

Money

Low Fees

Money

No monthly fees

This bank is good for people who want to be able to earn high rates and pay low or no fees. However, the bank only supports one branch, so it’s not a good option for most people who want to do in-person banking.

  • CDs
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    4.3
  • Savings
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    5.0
  • Checking
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    3.8
  • MMAs
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    4.3
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    Capital One

    Member FDIC

    Savings account

    1.30 % APY

    $ 0

    Min. balance for APY

    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    1.30 % APY

    $ 0

    Min. balance for APY

    American Express National Bank

    Member FDIC

    Savings account

    1.30 % APY

    $ 1

    Min. balance for APY

    Overall

    4.3

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    Bankrate Score

    Northpointe Bank is a Grand Rapids, Michigan-based bank that offers high interest rates to its bank account customers and charges low (if any) fees for the accounts.

    What we like

    • Low account fees.

    • Offers competitive interest rates.

    What we don't

    • High minimum balances to open accounts that offer top rates.

    • The bank only operates one branch.

    • You can only reach customer service agents on the phone on weekdays.

    CD rates

    4.3

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    Bankrate Score

    OTHER CD OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    CD

    1.35 % APY

    1 yr

    Term

    $ 500

    Min. deposit

    Northpointe Bank’s certificates of deposit are highly flexible. You can open an account with a term as short as seven days and you’ll earn solid rates regardless of the term that you select. However, while APYs are very competitive, you can still find higher yields at some online banks.

    What we like

    • Flexible terms.

    • Reasonable minimum deposits.

    What we don't

    • APYs aren't the best, though they are very competitive.

    Savings accounts

    5.0

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    Bankrate Score

    OTHER SAVINGS OFFERS YOU MAY LIKE
    Capital One

    Member FDIC

    Savings account

    1.30 % APY

    $ 0

    Min. balance for APY

    Northpointe Bank's savings account offers a good interest rate and doesn’t charge you any fees. However, its major drawback is that you need to have $25,000 in the account to earn the best available rate.

    What we like

    • No monthly fee.

    • No minimum deposit.

    • Offers good interest rate.

    What we don't

    • Requires $25,000 minimum balance to earn highest rate.

    Checking accounts

    3.8

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    Bankrate Score

    Northpointe Bank’s interest checking account offers a highly competitive yield and the flexibility to make withdrawals from other bank’s ATMs without paying (you'll get reimbursed up to $15 in ATM fees per month). While there is no monthly fee, there is a hefty minimum balance requirement to earn the highest APY. Plus, peer-to-peer transfers incur a charge.

    What we like

    • Good interest rate.

    • Up to $15 in ATM fee reimbursements each month.

    • No monthly fee.

    What we don't

    • You must deposit at least $2,500 for the bank's interest checking account.

    • You will pay fees for your peer-to-peer transfers.

    Money market accounts

    4.3

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    Bankrate Score

    Like the saving account, the Northpointe Bank’s money market account offers solid rates, but only if you can deposit $25,000 into the account. You have to pay a fee to get checks, but you will get debit card access for free if you ask.

    What we like

    • Good interest rate.

    • Free debit card upon request.

    What we don't

    • $25,000 minimum balance for highest interest rate.

    • Fee for checks.

    Bank experience

    At Northpointe Bank, you will only have phone support available on weekdays between 8 a.m. and 6 p.m Eastern. Otherwise, the bank offers a great experience with a well-reviewed mobile app and a wide ATM network that makes it easy to access your cash.

    About Northpointe Bank

    Northpointe Bank is a Grand Rapids, Michigan-based bank that offers high interest rates to its bank customers and charges low fees (if any) for the accounts.

    The regional bank offers checking accounts, money market accounts, CDs and savings accounts. However, Northpointe only supports one branch, so expect to do most of your banking online.

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