Presidential Bank Review
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At a glance

Overview
Presidential Bank is best for Washington D.C.-area residents who are looking for a full-service financial institution with some of the top rates available on deposit products. Although the bank is largely regional, anyone can open an account online and access their account via multiple ATM networks, which means easy, fee-free access to your money at tens of thousands of locations throughout the U.S.
Highlights:
Digital Leader Highly Rated AppHighlights:
CDs
Checking
Savings
MMA
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

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 = 4.4/5
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 = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Overall
Presidential Bank is a Bethesda, Maryland-based bank with 10 branches in the Washington, D.C. metropolitan area. It offers a wide selection of deposit products that’s sure to meet many needs. Although yields could be higher for some of the bank’s certificates of deposit (CDs), its Advantage checking, savings and money market accounts offer robust APYs that can be opened online.
Pros
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Presidential Bank offers competitive yields on most deposit products.
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Multiple checking account options are offered.
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Customers have free access to more than 88,000 ATMs through the Allpoint and MoneyPass networks.
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The bank’s mobile app earns high marks from users.
Cons
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The money market account requires $25,000 to earn the best annual percentage yield.
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Checking and money market accounts charge a monthly fee if the minimum balance isn’t maintained.
Presidential Bank banking products
Presidential Bank savings overview
Pros
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There’s no monthly fee for a Premier Savings account.
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Both accounts can be linked to an ATM or debit card for ATM access.
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The Advantage Savings account offers a top-notch yield.
Cons
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The Premier Savings account requires a $500 minimum deposit.
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Higher yields can be found elsewhere.
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An Advantage Checking account is required to earn the highest APY.
Rate history for Presidential Bank's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Presidential Bank CD overview
Pros
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Presidential Bank offers some competitive CD yields.
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All CDs require a manageable $1,000 minimum deposit.
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CDs are available to customers nationwide through online banking.
Cons
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Presidential Bank doesn’t offer no-penalty or bump-up CDs.
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Yields on many of the CDs are lackluster.
Rate history for Presidential Bank's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Presidential Bank money market overview
Pros
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The account comes with check-writing privileges and a free supply of checks.
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Customers get access to a Visa debit card and ATM privileges.
Cons
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Only balances between $25,000 and $250,000 will earn the top APY.
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A balance of at least $25,000 is required to waive the monthly fee.
Presidential Bank checking overview
Pros
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The Regular Checking account requires only $100 to open and to waive the monthly fee.
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There are several interest-bearing account options available.
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Customers have free access to more than 88,000 ATMs nationwide.
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Several of the checking accounts can be opened online.
Cons
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The interest-bearing accounts require a more sizable minimum balance.
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All checking accounts come with a monthly fee.
Bank fees
Fee | Charged? |
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Overdraft fee | $5 |
Non-sufficient funds fee | $25 |
Monthly maintenance fees | $2 - $5 |
Out-of-network ATM fee | None |
Excessive transaction fee | $3 over three checks for Advantage Checking |
Customer experience
Customer service. Bank representatives can be reached 8 a.m. to 10 p.m. Eastern time, Monday through Friday. No weekend hours are available, but the bank has an email address for customer inquiries.
Digital experience. The bank’s mobile app receives high ratings from users of iOS and Android devices. It lets customers transfer funds between Presidential accounts, pay bills, locate branches and ATMs, and more. A unique feature of Presidential Bank’s site is its statement archive. Customers can view their account statements going back to 1997 for free.
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.