Rising Bank Review 2022
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At a glance
CDs
Checking
Savings
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Rising Bank is ideal for savers who are comfortable banking online and are interested in earning some of the highest rates tied to deposit products.
Highlights
- Low Fees
Overall
Rising Bank is a newer online division of Midwest BankCentre, a St. Louis-based community bank that’s been around for more than a century.
Pros
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Rising Bank offers savers competitive rates.
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There are no monthly fees for its bank products.
Cons
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The bank offers limited CD terms.
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A money market account isn’t offered.
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There is an early closure fee for accounts closed within 120 days of opening.
Rising Bank bank products
Rising Bank savings overview
Pros
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The account offers a competitive APY.
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There is no monthly fee.
Cons
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Some banks have lower or no minimum balance requirements and pay comparable or higher yields.
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Interest from the High Yield Savings Account doesn't compound.
Bank experience
Rising Bank offers several resources to help customers to manage finances, including online calculators and a mobile banking app. The mobile app is highly rated on Google Play and the Apple App Store. Apps features include account alerts, branch and ATM search, and the ability to add notes and photos of receipts to transactions. Plus, it comes with Zelle for transferring money to others.
Customer service representatives are available Monday through Friday, though the website doesn't note the hours of operation. Account holders also have access to secure messaging 24 hours a day, seven days a week.
Rising Bank has no branches. To access cash, customers can transfer money to a linked external account or visit a MoneyPass ATM (the bank's ATM partner).
About Rising Bank
Rising Bank is an online-only bank launched in 2018 by Midwest BankCentre, a community bank that serves the St. Louis area. Rising Bank offers certificates of deposit, a high-yield savings account and a checking account.
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.
