FinWise Bank Review 2024
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
FinWise Bank is best for those who are in the Sandy, Utah area that want to bank at a smaller institution that offers a top-notch checking account, and affordable savings accounts and certificates of deposit with reasonable rates.
Highlights
- Low Min Deposit
- Low Fees
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
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 = 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 CD rating = 4.9/5
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 CD rating = 4.9/5
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 by our partners, which impacts how, where, and in what order the products appear.
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.
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.
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.
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.
Overall
FinWise Bank is a Utah-based bank that offers affordable checking and savings accounts and CDs, though only the latter offers competitive APYs. Customers can’t open accounts online, so this regional bank is best suited for those in the Sandy, Utah area, which you must visit to open an account. That noted, FinWise is part of the large MoneyPass network, giving you free access to your money via tens of thousands of ATMs scattered across the country.
Pros
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FinWise offers competitive CD rates for a small regional bank.
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Offers access to more than 55,000 ATMs with no fee through the MoneyPass network.
Cons
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Customers cannot open an account with FinWise online.
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To report a lost or stolen bank card, customers must call the bank directly during banking hours.
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Expect to dig around FinWise’s website to find basic information on their accounts.
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FinWise Bank banking products
APY last updated between 5/7 and 5/13.
FinWise Bank savings overview
Pros
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There are no monthly service fees.
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Just $500 is needed to open the account.
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Unlike most savings accounts from other banks, there’s no limit on monthly withdrawals.
Cons
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Higher rates can be found elsewhere.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
FinWise BankAPYAPY last updated between 5/7 and 5/13.APYAPY last updated between 5/7 and 5/13.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
This is a sponsored offer rated 4 stars or higher for competitive rate, 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 = 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.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $21 |
| Non-sufficient funds fee | $21 |
| Monthly maintenance fee | $0 – $7 |
| Out-of-network ATM fee | None |
| Excessive transaction fee | None |
Customer experience
Customer service. Customers interested in opening an account with FinWise will need to visit a branch in person. FinWise Bank has limited phone support, offering help only on weekdays. Customers can reach representatives by phone Monday through Friday from 8 a.m. to 6 p.m. Mountain time; the bank is not open on weekends. Customers can also get help via email.
Digital experience. After opening an account, however, customers enjoy a more user-friendly experience, according to customer reviews on Apple’s App Store and Google Play, though note not many people have reviewed either version of the app.
About FinWise Bank
FinWise Bank is a subsidiary of FinWise Bancorp. The Sandy, Utah-based bank offers banking services for businesses and individual consumers, including checking, money market and savings accounts, as well as CDs.
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.
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