Presidential Bank review 2025: Checking account APY that might be better than your current high-yield savings

In our Presidential Bank review, we’ll give you the facts you need to decide whether it’s a good fit for your banking needs. 

Rates and fees current as of Sept. 23, 2025, and are subject to change. 

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Presidential Bank 

Who is Presidential Bank good for? 

Presidential Bank is likely a good option for anyone in search of a generous return rate on every deposit account. Whether you’re after checking, savings, CDs, or money market accounts, Presidential Bank is at or near the top of the heap in terms of APY. 

Presidential Bank can also be a great choice for those who want to keep all their banking at one establishment. Oftentimes, banks that offer return rates this generous are not full-service financial institutions—offering limited account types. Presidential offers just about anything you could want, from mortgages to lines of credit. 

Who shouldn’t use Presidential Bank? 

Primarily serving the Washington, DC area, Presidential Bank only offers a handful of brick-and-mortar locations around the nation’s capital and in Maryland and Virginia. If you don’t live near one of these areas, you won’t be able to bank in-person. That could be a deal-breaker for some would-be customers, especially as not all accounts can be opened online. 

Additionally, the best account options tend to come with hefty minimum deposit and balance requirements. If you’re only working with a few hundred dollars to start with, Presidential Bank may not serve you well. 

Presidential Bank rates and products 

Presidential Bank has an unusually large selection of deposit accounts, including four checking accounts, two savings accounts, and two money market accounts (MMAs). With every account type, it’s possible to get high-octane returns—though some require significant minimum deposits. 

Bank details checked Sept. 23, 2025. 

Checking accounts 

Presidential Bank provides a whopping four checking account options. Three can be opened online—but the bank’s Regular Checking can only be opened in-branch.

Most interesting is the Advantage Checking account which offers higher APY than even many high-yield savings accounts. But, to be eligible for the maximum return, you must receive a $500 + monthly direct deposit and make 7+ electronic withdrawals per month. 

The Advantage Checking account also unlocks the bank’s highest savings account APY, which we’ll provide more details on in a minute. 

Bank details checked Sept. 23, 2025. 

Advantage Checking account features:

• Minimum opening deposit: $500  
• Monthly fees: $5 (waived with $500+ monthly balance) 
• APY: 
  • 4.62% for balances up to $25,000 
  • 3.62% for higher balances 
  • 0.10% for accounts that don’t meet monthly requirements 
• Transaction limitations: Only three checks per month (then $3 per check) 
• Paper checks: Yes 
• Overdraft fees: $25 (or overdraft protection at $5 per transfer) 
• Out-of-network ATM fees: $0 (monthly $8 in reimbursements to offset ATM-operator surcharge) 

Checking PLUS account features:

• Minimum opening deposit: $1,500  
• Monthly fees: $5 (waived with $1,000 balance) 
• APY:  
  • 0.12% for balances up to $25,000 
  • 0.10% for higher balances 
• Paper checks: Yes 
• Overdraft fees: $25 (or overdraft protection at $5.00 per transfer) 
• Out-of-network ATM fees: $0  

Regular Checking account features:

• Minimum opening deposit: $100  
• Monthly fees: $5 (waived with $100+ monthly balance) 
• APY: N/A 
• Overdraft fees: $25 (or overdraft protection at $5 per transfer) 
• Out-of-network ATM fees: $0  

Special Checking account features:

• Minimum opening deposit: $500
• Monthly fees: $5 (waived with $500+ monthly balance) 
• APY: 
  • 0.12% for balances up to $1,000 
  • 0.10% for higher balances 
• Paper checks: Yes (unlimited check writing ability) 
• Overdraft fees: $25 (or overdraft protection at $5 per transfer) 

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Savings accounts 

You’ll have two savings account options to choose from at Presidential Bank: Advantage Savings and Premier Savings. Neither account comes with transfer limits. This differs from savings accounts at many other financial institutions which typically limit the number of times you can access your money each month. 

The Advantage Savings account comes with far and away the higher APY of the two. Again, you can qualify for the highest return when you’ve also got an Advantage Checking account. 

Bank details checked Sept. 23, 2025. 

Advantage Savings account features:

• Minimum opening deposit: $5,000
• Minimum balance: $0
• Monthly fees: $0
• APY: 4.50% with an Advantage Checking account (otherwise 4.00%) 
• Minimum balance to earn interest: $100  
• Transfer limitations: None 

Premier Savings account features:

• Minimum opening deposit: $500
• Minimum balance: $0
• Monthly fees: $0
• APY: 0.50% on balances up to $35,000; 0.35% on higher balances 
• Transfer limitations: None 

Money market accounts 

Money market accounts can be thought of as a cross between a savings account (which traditionally comes with higher APY than a checking account) and a checking account (which gives you more flexibility to access your funds). 

Presidential Bank offers two MMAs, the Money Market Advantage Checking and the Money Market Checking account. The latter can only be opened in-branch. Each allows you to spend your money via debit card and paper checks. In fact, you’ll receive unlimited free checks with these accounts—something no other Presidential Bank deposit accounts offer. 

Bank details checked Sept. 23, 2025. 

Money Market Advantage Checking features:

• Minimum opening deposit: $25,000
• Minimum balance: $0
• Monthly fees: $5 (waived with $25,000 balance) 
• APY: 
  • 0.10% on balances under $25,000 
  • 4.37% on balances between $25,000 and $250,000  
  • 1.50% on higher balances 
• Transaction limitations: None 

Money Market Checking features:

• Minimum opening deposit: $1,000  
• Minimum balance: $0
• Monthly fees: $5 (waived with $500 balance) 
• APY: 
  • 0.15% on balances under $1,000 
  • 0.25% on balances of $1,000 to $9,999.99 
  • 0.30% on balances of $10,000+ 
• Transaction limitations: None 

Certificates of deposit 

Presidential Bank offers two types of CDs: Standard and IRA CDs. You can choose from 10 standard CD terms and four IRA CD terms. 

These CDs are relatively straightforward (you won’t find specialty options like bump-up, flex, or jumbo CDs), but there’s one curious exception: The 7-month CD requires that you use new money to open it. In other words, you can’t open it with money already stored with Presidential Bank. 

Of course, you’ll also be subject to early withdrawal penalties if you try to access money before your account matures. Depending on the length of your account term, you’ll pay between 30 days’ and 24 months’ interest. 

Standard CDs

Bank details checked as of Sept. 23, 2025 

IRA CDs

Bank details checked as of Sept. 23, 2025 

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Other services Presidential Bank offers  

Presidential Bank offers more than lucrative deposit accounts. You can also apply for: 

• Mortgages: Whether you’re looking to buy a new home or refinance your current home, Presidential Bank has options. 
• Home equity line of credit: Borrow the equity you’ve built in your home in the form of a line of credit. 
• Lines of credit: Receive a revolving line of credit in exchange for providing collateral to Presidential Bank. 
• IRAs: Presidential Bank offers self-direct individual retirement accounts, both traditional and Roth.  

Online banking 

Presidential Bank offers features common among online banking platforms. You can make payments, transfer funds, view checks, send secure messages to Presidential Bank, and more. 

Presidential Bank also offers a mobile app for Apple, Android, and Kindle. 

The Presidential Bank platform and customer support  

You can reach Presidential Bank customer service with one of two numbers: 800-383-6266 or 240-333-9059. Hours are 8 a.m. to 10 p.m. Eastern Time Monday through Friday. Presidential Bank also has an automated phone service available 24/7 at 800-317-6980. If you’d prefer to email, you can reach the bank at email@presidential.com. 

Presidential Bank has branches in Maryland, Virginia, and Washington, DC. 

Is Presidential Bank secure? 

Presidential Bank uses enhanced login security to help prevent fraudsters from accessing your account. It boasts of its cutting-edge technology and services to keep users safe. It also benefits from FDIC insurance. You’re covered up to $250,000 per account type per depositor. 

Presidential Bank user reviews 

Customers who have a bad experience with a financial institution are the ones most likely to write an online review. With that in mind, Presidential Bank gets mixed online reports from its customers. 

Users on Reddit and other forums praise the bank’s high interest rates and friendly, competent employees. On the other hand, some call out their small physical footprint and report concerning hiccups after account opening. 

While not accredited with the Better Business Bureau, Presidential Bank receives a BBB rating of an A- for failure to respond to one complaint. 

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Compare Presidential Bank alternatives 

If Presidential Bank’s limited footprint or generally high minimum deposit and balance requirements give you pause, it’s worth evaluating competing institutions to store your money with. For folks seeking competitive yields and comfortable banking online, two options worth considering are Alliant Credit Union and Discover Bank. 

Presidential Bank	Discover Bank	Alliant Credit Union
Checking account APY	Checking account APY	Checking account APY
4.62%	Not interest bearing (but debit card that earns up to 1% back on purchases)	0.25%
Savings account APY	Savings account APY	Savings account APY
4.50%	3.50%	3.10%
CD APY	CD APY	CD APY
4.25%	Up to 3.50%	4.10%
Learn more	Learn more	Learn more
View offer at MoneyLion	View offer at Discover Bank	View offer at MoneyLion

Bank details checked Sept. 23, 2025 

Is Presidential Bank right for you? 

Presidential Bank may be right for you if a high APY is of paramount importance. Across the board, it offers stunning returns with its deposit accounts. Presidential Bank may also be a good fit for those who find value in unlimited transactions for savings accounts. That’s a perk you likely won’t find at many other financial institutions. 

Just keep in mind the bank’s extremely limited physical presence. In-person banking will only be possible for those who live around the Washington, DC, area. 

Frequently asked questions

Where is Presidential Bank located?

Presidential Bank is headquartered in Bethesda, Maryland. Its branches are in Maryland (Bethesda, Frederick, Rockville), Virginia (Ballston, Leesburg, McLean, Reston, Rosslyn, Tysons), and the District of Columbia (K-Street).

Are there any ATM fees with Presidential Bank?

Presidential Bank doesn’t charge ATM fees, but you may incur fees from ATM operators if you use an out-of-network option.

Does Presidential Bank charge for wire transfers, and what are the current fees?

Presidential Bank does not charge a fee for incoming wire transfers. Outgoing domestic transfers cost $20, outgoing international transfers cost $45, and outgoing international foreign currency transfers cost $35.

How do I contact Presidential Bank customer service, and what are the support hours?

You can contact Presidential Bank customer service by calling either 800-383-6266 or 240-333-9059. Customer service hours are between 8 a.m.and 10 p.m. Eastern Time from Monday to Friday.

Are there any account closure fees with Presidential Bank?

You’ll be changed a $5 fee if you close your account within six months from the date it was opened. This excludes CDs which come with their own unique early withdrawal fees.