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Presidential Bank Review

Updated April 29, 2025
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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 App
3.8
Rating: 3.8 stars out of 5
Bankrate Score
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CDs

Rating: 4 stars out of 5
4.0 /5

Checking

Rating: 4.3 stars out of 5
4.3 /5

Savings

Rating: 3.3 stars out of 5
3.3 /5

MMA

Rating: 2.6 stars out of 5
2.6 /5
Sponsored offers
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.30
%
APY
APY
Info Icon
As of 6/19/2025
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money
Bank logo
Member FDIC
Savings Account
3.60
%
APY
APY
Info Icon
As of 6/19/2025
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Bank logo
Member FDIC
Savings Account
4.00
%
APY
APY
Info Icon
As of 6/19/2025
Rating: 4.6 stars out of 5
$5,000
Min. balance for APY
View offer Arrow Right Icon
Promoted offer:

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

  • Checkmark Icon

    Presidential Bank offers competitive yields on most deposit products.

  • Checkmark Icon

    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

  • The money market account requires $25,000 to earn the best annual percentage yield.

  • Checking and money market accounts charge a monthly fee if the minimum balance isn’t maintained.

Presidential Bank banking products

Presidential Bank savings overview

3.3
/5
Rating: 3.3 stars out of 5
SCORE BREAKDOWN
APY offering:
0.50%
Rating: 2 stars out of 5
2/5
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Minimum balance for APY:
$500.00
Rating: 3 stars out of 5
3/5
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Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
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Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
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Access to funds:
Great
Rating: 5 stars out of 5
5/5
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Pros

  • Checkmark Icon

    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.

  • Checkmark Icon

    The Advantage Savings account offers a top-notch yield.

Cons

  • The Premier Savings account requires a $500 minimum deposit.

  • Higher yields can be found elsewhere.

  • 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
APY
APY
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National average APY
How do we get this data?
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Presidential Bank CD overview

4.0
/5
Rating: 4 stars out of 5
SCORE BREAKDOWN
APY offering:
4.00%
Rating: 4 stars out of 5
4/5
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Minimum deposit:
$1,000.00
Rating: 4 stars out of 5
4/5
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Range of term lengths:
1 mo – 5 yrs
Rating: 5 stars out of 5
5/5
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Early withdrawal penalty:
Subpar
Rating: 2 stars out of 5
2/5
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Offer no-penalty or bump-up CDs:
No
Rating: 0 stars out of 5
0/5
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Offer IRA CDs:
Yes
Rating: 5 stars out of 5
5/5
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Pros

  • Checkmark Icon

    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

  • Presidential Bank doesn’t offer no-penalty or bump-up CDs.

  • 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
APY
APY
Info Icon
National average APY
Caret Down Icon
How do we get this data?
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Presidential Bank money market overview

2.6
/5
Rating: 2.6 stars out of 5
SCORE BREAKDOWN
APY offering:
0.15%
Rating: 1 stars out of 5
1/5
Info Icon
Minimum balance for APY:
$1,000.00
Rating: 4 stars out of 5
4/5
Info Icon
Monthly service fee:
$5.00
Rating: 4 stars out of 5
4/5
Info Icon
Minimum balance to avoid fee:
$500.00
Rating: 4 stars out of 5
4/5
Info Icon
Check writing:
Yes
Rating: 5 stars out of 5
5/5
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Debit/ATM access:
Great
Rating: 5 stars out of 5
5/5
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Pros

  • Checkmark Icon

    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

  • Only balances between $25,000 and $250,000 will earn the top APY.

  • A balance of at least $25,000 is required to waive the monthly fee.

Presidential Bank checking overview

4.3
/5
Rating: 4.3 stars out of 5

Pros

  • Checkmark Icon

    The Regular Checking account requires only $100 to open and to waive the monthly fee.

  • Checkmark Icon

    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

  • The interest-bearing accounts require a more sizable minimum balance.

  • All checking accounts come with a monthly fee.

Bank fees

Fee Charged?
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.

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Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.