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Rising Bank Review 2021
Member FDIC
Savings account
Member FDIC
Savings account
Member FDIC
Checking account
Overall
4.4
Bankrate Score
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.
What we like
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Rising Bank offers savers competitive rates.
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The bank’s customer service is available 24/7.
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There are no monthly fees for its bank products.
What we don't
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The bank only offers a few products.
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There is no access to Zelle, a mobile banking feature that lets you pay back friends and family.
Savings accounts
4.9
Bankrate Score
Member FDIC
Savings account
Rising Bank offers a very competitive rate on its savings account. The top-tier APY is available as long as you deposit $1,000 or more. There is no monthly fee either.
What we like
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The account offers a competitive APY.
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You only need $1,000 in the account to earn the top APY.
What we don't
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Some banks have lower or no minimum balance requirements at comparable APYs.
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Interest from the High Yield Savings Account doesn't compound.
CD rates
4.4
Bankrate Score
The bank offers a competitive rate on its CDs, and the minimum balance requirement is standard. Rising Bank only offers three standard CD terms: 1 year, 2 years or 3 years.
What we like
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Yields are competitive.
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Accounts are accessible to savers nationwide.
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The minimum deposit for most CDs is relatively low.
What we don't
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The bank offers a relatively small selection of CD maturity terms.
Checking accounts
3.9
Bankrate Score
Member FDIC
Checking account
Rising Bank's checking account offers you a competitive interest rate if you keep at least $5,000 parked in the account. It also offers you generous ATM access for free and you won't have to pay a monthly fee.
Balances below $1,000 will not earn interest.
What we like
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The bank offers a competitive interest rate.
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Rising Bank partners with MoneyPass, so customers will have free access to thousands of ATMs nationwide.
What we don't
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The account does not yet include Zelle (peer-to-peer payment) functionality.
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It requires steeper minimum balances to earn interest than some other banks.
Bank experience
Rising Bank’s mobile banking app includes basics, such as mobile deposit capture. The app also includes a rarer capability: letting customers organize their transactions by adding notes and photos of receipts, so they can remember what the transactions are for.
Rising Bank has impressive customer service hours: The bank says it offers 24/7 customer service by calling (888) 222-9484.
You won’t, however, have access to branches if you bank here. To access your cash, you 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 that Midwest BankCentre launched in February 2019.
Rising Bank offers certificates of deposit, a high-yield savings account and a checking account.
Mary Wisniewski @MARYMWISNIEWSKI
Mary Wisniewski is a banking editor for Bankrate and occasionally writes on a variety of fintech and banking subjects. Previously, she covered fintech for American Banker and edited op-eds for the publication's BankThink section. She was also a blogger and editor at Bank Innovation and served as a fashion editor for National Jeweler, where she reported on fashion shows and jewelry news. Mary grew up in the Michigan suburbs and now lives in Los Angeles with a maltipoo, a record player and an espresso machine.
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