Poppy Bank offers competitive interest rates, but requires minimum balances and limited branch access.
From Yahoo Finance: 2025-06-26 17:49:00
Poppy Bank, established in 2005, operates over 30 branches in California, offering personal and business accounts with competitive interest rates. Poppy Personal Checking requires a $1,000 minimum balance with a $10 monthly fee, while the Premier Online Savings account offers up to 4.25% APY with a $1,000 minimum balance.
Poppy Bank’s range of accounts includes Poppy Student Savings, offering a remarkable 4% APY with just a $50 minimum balance. Poppy Bank offers term lengths ranging from three to 60 months for CDs, with the highest rate at 4% APY. While fees are minimal, there is no fee-free checking account available.
Considerations for Poppy Bank include high savings yields up to 4.25% APY, no monthly fees for online savings, and access to a large fee-free ATM network. However, accounts generally require a $1,000 minimum balance, branch access is limited to California, and online chat support is unavailable.
Poppy Bank provides various contact options, including phone support, secure online messaging, and email. Their mobile app has mixed reviews, with features for managing accounts and deposits. Poppy Bank accounts are FDIC-insured up to $250,000 per depositor.
Poppy Bank’s routing number is 121143891, with a 5-star rating from BauerFinancial. With 33 domestic locations, Poppy Bank is considered reliable and community-oriented. The bank charges minimal fees for withdrawals but imposes fees for overdrafts and excess withdrawals.
Read more at Yahoo Finance: A California bank with one of the best online savings account rates (available nationwide)