My eBanc review: High APYs for those who can meet high minimum account balances

It’s an online division of Bradesco Bank, a large bank headquartered in Latin America. Founded in 1943, the financial institution now has over 77 million customers with offices in New York and Miami.

My eBanc is itself far from a full-service bank. It skips loans, retirement accounts, and credit cards—focusing instead on delivering massive APYs via certificates of deposit (CDs), a high-yield savings account (HYSA), and a money market account (MMA).

Its account requirements are notably more strict than many of its competitors, however. Here’s everything you need to know about banking with My eBanc.

All rates and fees are current as of July 25, 2025, and are subject to change.

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My eBanc at a glance

Who is My eBanc good for?

My eBanc is good for those with considerable savings looking to earn interest at an exceptional APY. Its savings, CDs, and MMAs require between $5,000 and $50,000, depending on the account type. And to get the best rates, some accounts require at least $100,000. If you don’t bat an eye at figures like that, My eBanc should intrigue you.

Who shouldn’t use My eBanc?

Consequently, because of the large minimum deposits and monthly minimum balances enforced by My eBanc, this is not a good option for anyone looking to park less than $5,000. Plenty of banks have no minimum balances or initial deposits.

Anyone who prefers to bank in-person may also prefer to look elsewhere; You can service your My eBanc account at just a single branch, located in Coral Gables, Florida.

My eBanc rates and products

Bank details checked July 25, 2025.

Checking account

My eBanc offers a single checking account option, named Advantage Checking. It charges no monthly fees, and it’s largely customer friendly—aside from its initial mandatory $5,000 minimum deposit.

Note that you don’t need to maintain a $5,000 balance; it’s just required to open the account.

Bank details checked July 25, 2025.

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Savings account

My eBanc’s high-yield savings account is called eRelationship Savings. There are two enormous catches to this account:

1. Its minimum opening deposit is a prohibitive $25,000, and it requires you to maintain a $25,000 daily balance to avoid getting dinged with a $15 fee. 
2. You must currently have, or open in tandem, a CD (also called a Time Deposit) with My eBanc.

This account offers a 3.70% APY for account balances below $100,000 and a 3.90% APY for balances of $100,000 and above. Uniquely, you’re free to move money in and out of your savings account with no monthly limit. Many institutions cap withdrawals from savings at six per month. 

Bank details checked July 25, 2025.

Money market account

If you like the idea of a high-yield savings account but you aren’t interested in opening a CD with My eBanc, the SuperSaver Money Market Account is a better fit for your needs. It’s also got a much more digestible $5,000 minimum opening deposit—that’s a whopping $20,000 less than what’s needed for the My eBanc savings account.

Similar to the eRelationship Savings Account, there are no limits to the amount of withdrawals and deposits you can make. That said, mobile check deposits specifically are capped at four per day (max $5,000 per day) and 10 per month (max $15,000 per month).

You’ll earn a 3.40% APY for balances below $100,000 and an incredible 4.25% APY for balances of $100,000 or more.

Bank details checked July 25, 2025.

Certificates of deposit

My eBanc offers three different categories of certificates of deposit—or Time Deposits—each with multiple terms:

• Online Time Deposits (minimum $5,000 opening deposit)
• Jumbo Online Time Deposits (minimum $50,000 opening deposit)
• Flex Time Deposits (minimum $10,000 opening deposit)

These accounts deliver high APYs with the tradeoff that your money remains untouched for a specific period of time. Withdraw your money prematurely, and you’ll be charged between three and nine months of interest. The exception to this rule is Flex Time Deposits, which allow you two withdrawals before your CD matures. Beyond that, you’ll be slapped with a penalty equivalent to six months of interest on the amount withdrawn.

Online Time Deposits

The minimum opening deposit for an Online Time Deposit is $5,000. For an early withdrawal, you’ll be penalized as follows:

• 6-12 month CD: three months interest on the amount withdrawn
• 18-24 month CD: Six months interest on the amount withdrawn
• 36-month CD: Nine months interest on the amount withdrawn

Jumbo Online Time Deposits

The minimum opening deposit for a Jumbo Online Time Deposit is $50,000. For an early withdrawal, you’ll be penalized as follows:

• 6-12 month CD: three months interest on the amount withdrawn
• 18-24 month CD: Six months interest on the amount withdrawn
• 36-month CD: Nine months interest on the amount withdrawn

Flex Time Deposits

Flex Time Deposits are the only CD accounts that let you dip your hand into your money fee-free before your account terms. You can only do it twice, with a seven-day notice required. The minimum opening deposit is $10,000—and you must keep at least that amount in your account at all times or your account will be closed.

Bank details checked July 25, 2025.

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Other services My eBanc offers

My eBanc offers no other services beyond checking, savings, CDs, and MMAs. You won’t find things like loans, retirement accounts, or credit cards through this digital corner of Bradesco Bank.

The My eBanc platform and customer support

My eBanc comes with all the features you’d expect from a banking platform — from bill payment to bank transfers to debit cards to money management tools.

If you need assistance, you can call 305-789-8076 from Monday to Friday between 8:30 a.m. and 5 p.m. You can also email info@myebanc.com.

Remember, My eBanc only has one branch in Coral Gables, Florida. Unless you live nearby, you won’t be able to service your account in-person.

Is My eBanc secure?

My eBanc touts its many sophisticated security measures, giving you a safely encrypted environment to enter your sensitive details. You can freely bank and communicate with My eBanc, as it encodes the information you send back and forth.

The FDIC also insures up to $250,000 of your My eBanc deposits.

My eBanc user reviews

My eBanc gets mixed user reviews. Its products are largely well-received, but some say the customer service may be spotty at times, with some customers claiming that it can take days to reach a customer service representative by phone.

Compare My eBanc alternatives

My eBanc	SoFi® Member FDIC	Capital One
Checking account top APY	Checking account top APY	Checking account top APY
0.05%	0.50%	0.10%
Savings account top APY	Savings account top APY	Savings account top APY
3.90%	Up to up to 3.80%%.1 Get a 0.70% Boost on Savings APY to up to 4.50% for up to 6 months on new accounts with eligible Direct Deposit. Terms apply.2	3.50%
Top CD APY	Top CD APY	Top CD APY
4.45% on a 1-year jumbo CD	Doesn’t offer	4.00% on a 1-year CD
MMA top APY	MMA top APY	MMA top APY
4.25%	N/A	N/A
Checking account monthly fee	Checking account monthly fee	Checking account monthly fee
N/A	$0	$0
$15 for balances below $5,000	Learn more	Learn more
View offer at My eBanc	View offer at SoFi	View offer at MoneyLion

Is My eBanc right for you?

My eBanc may well be right for you if:

• You’ve got at least $5,000 you’d like to deposit into a CD or MMA.
• You aren’t in need of a full-service bank

My eBanc won’t fulfill all your personal loan, credit card, and mortgage needs. It’s best leveraged for its high-APY accounts.

Frequently asked questions

Is My eBanc a real bank?

My eBanc is not itself a bank; instead it’s an arm of Latin America-based Bradesco Bank.

What’s the difference between My eBanc’s savings accounts and money market accounts?

My eBanc’s eRelationship Savings account requires a $25,000 minimum opening deposit and can only be opened if you’ve currently got (or will simultaneously open) a My eBanc CD. A SuperSaver Money Market Account has no CD requirement, and its opening minimum deposit is just $5,000. The accounts also earn varying APY.

Can I link My eBanc accounts to other bank accounts for transfers?

You should be able to link a My eBanc account to other bank accounts for easy transfers.

What are My eBanc’s early withdrawal penalties for CDs?

My eBanc’s early withdrawal penalties vary based on the type of CD and term length. You’ll pay between three and nine months worth of interest on the amount you withdraw.

Is My eBanc FDIC-insured?

My eBanc is FDIC-insured, as it is under the management of Bradesco Bank.

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SoFi disclaimer

1:

SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

2: 0.70% Savings APY Boost

Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.