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CFG Bank has one of the best money market account rates right now.
CFG Bank Overall Rating
| Feature | Insider rating (out of 5) |
| Checking | 3.25 |
| Savings | 3 |
| Money market account | 3 |
| CD | 3.75 |
| Trustworthiness | 3 |
| Total | 3.25 |
CFG Bank Pros and Cons
| Pros | Cons |
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CFG Bank Standard Savings Account Review
You may like the
If you'd prefer a high-yield savings account, consider the bank's money market account or one of the accounts on our best high-yield savings accounts guide. These are also good options if you don't live in Maryland, because you have to open a savings account at a branch.
CFG Bank Checking Plus Account - Product Name Only Review
The
The main downside of this account is that there's a $25 overdraft fee, and CFG doesn't offer any kind of overdraft protection.
CFG Bank Certificate of Deposit Review
You only need
There are only a few terms to choose from, though, and the shortest term available is one year.
CFG Bank High Yield Money Market Account Review
CFG Bank pays one of the highest money market account rates out there. The
About CFG Bank
CFG Bank has two branch locations near Baltimore, Maryland. There are free ATMs at branches and at 55,000 machines in the Allpoint network. CFG doesn't charge you for using an out-of-network ATM, but the ATM provider might.
Money market accounts, CDs, and the checking account can be opened online from anywhere in the US, but you'll need to go to a branch to open a savings account.
To contact customer service, call Monday through Friday from 9 a.m. to 5 p.m.
The bank's mobile app received 4.3 out of 5 stars in the Apple Store and 3.6 out of 5 stars in the Google Play store.
CFG Bank is FDIC insured, so $250,000 is secure in an individual account, and $500,000 in a joint account.
Is CFG Bank Trustworthy?
The Better Business Bureau grades businesses by looking at how they resolve customer issues, advertise, and handle transparency. CFG Bank does not have a BBB rating right now because its profile is being reviewed.
CFG hasn't been involved in any recent public controversies.
CFG Bank FAQs
Is CFG a legitimate bank?
Yes, CFG Bank is legitimate. It is a Member FDIC bank, which means your funds are federally insured for up to $250,000 in an individual account.
How long has CFG Bank been in business?
CFG Bank was founded in 2009.
Is CFG a Maryland-based bank?
Yes, CFG Bank has two branches in Maryland. It also has plenty of accounts you can open online from around the US.
Methodology: How We Reviewed CFG Bank
At Personal Finance Insider, we rate savings, checking, and money market accounts using our banking methodology. We use our CD methodology to review certificates of deposit. Each account receives a rating between 0 and 5.
For all accounts, we evaluate a bank's ethics, customer service, and mobile app. The other factors we consider depend on which type of account we're reviewing. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.
How CFG Bank Compares
CFG Bank vs. Northern Bank Direct
CFG Bank and Northern Bank Direct both offer competitive rates on money market accounts, but there's a
Northern Bank Direct only has CDs and money market accounts. Meanwhile, CFG Bank also lets you open a checking account online.
CFG Bank vs. CIT Bank
If you don't live near Baltimore, Maryland, but are looking for a traditional savings account, CIT Bank will be best suited for your needs. CIT Bank is an online institution that lets you open accounts from anywhere in the US.
You'll also want to compare specific features between bank accounts.
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