Ivy Bank High-Yield Savings Review
November 21, 2025
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2 min
Ivy Bank Summary
Ivy Bank’s High-Yield Savings brings a variable rate, a $2,500 minimum to open and earn, and no monthly fee. It’s simple to fund with ACH, wires, mobile deposit, or mail. Transfers typically land in a few business days, and limits are clearly posted. FDIC insurance runs through Cambridge Savings Bank, and California residents aren’t eligible.
Ivy Bank Pros & Cons
Pros
$0 monthly fee
High inbound ACH limits
Money tools inside app
Cons
$2,500 minimum balance
CA residents not eligible
Ivy Bank at a glance
8.8
Editorial scoreRates
Competitive APY with meaningful minimum balance requirement ($2,500) to earn stated APY
9.0
Fees & Requirements
No monthly fees, minimum opening deposit required and/or substantial minimum balance required to earn stated APY
8.0
Security
FDIC insured (directly), SSL/AES encryption and supports 2 factor authentication
10.0
Customer Service and Mobile Experience
Generous CS hours including wknds, CS with live chat, dedicated fraud team, FAQ/help page; solid mobile app but no branch locations
9.0
Features and Benefits
Includes 2 out of 4- digital savings tools and easy online transfers
8.0
Advantages Over Traditional Banks
This account spells out the essentials upfront, from rate tiers to the maximum balance eligible for the top tier. The fee schedule is downloadable and dated, so there’s less guesswork when comparing total costs. If timing matters, domestic wires are available and the fee is posted, while ACH guidance explains typical delivery and the 1:00 a.m. ET creation cutoff. Inbound ACH limits reach $250,000 per transfer (up to $1,000,000 per month), which helps when consolidating larger amounts.
Cutting-Edge Banking Services
Online and mobile banking cover the daily basics without friction. ACH eTransfers connect external accounts, mobile check deposit handles paper items, and secure chat/email keep account-specific questions inside the login. Help-center charts walk through ACH timing, including weekends and holidays, so planning a move is straightforward. Tools like Money Management and Credit Score add context that savers actually use.
Traditional Banking Services
Even without branches, familiar options are here when needed. Domestic wires move money on tighter timelines and the bank publishes the address and routing number. Treasurer’s checks and mail-in deposits remain available for specific use cases. The deposit handbook explains funds availability and business days in plain terms, and FDIC coverage is standard, combined with Cambridge Savings Bank.
Interest Rates and Fees
The savings account is variable and tiered: the higher tier applies at $2,500 and above, and a lower tier applies to $10–$2,499.99. A $2,500 balance is needed to open and to earn the higher tier, and the maximum balance eligible for it is $1,000,000. Interest uses the daily balance method and credits monthly; rates can change after opening, and fees may reduce earnings. The fee schedule lists common items such as
- $25 outgoing/$0 incoming domestic wires
- $6 treasurer’s checks
- $30 stop payments
- $25/hour research
- $25 NSF/UCF with daily caps and a $0 fee on items $10 or less
Ivy Bank Savings Account Snapshot
| Item | Details |
| Tiering | Higher tier at ≥$2,500; lower tier at $10–$2,499.99 |
| Minimums | $2,500 to open and to earn the higher tier |
| Max balance @ higher tier | $1,000,000 |
| Interest method / crediting | Daily balance / Monthly |
| Monthly maintenance | $0 |
| Domestic wires | Outgoing $25 / Incoming $0 |
| ACH eTransfer limits | Inbound up to $250k/transfer & $1M/month; outbound limits start lower (days 1–90) and rise after 90 days |
| Transaction guidance | Savings withdrawals/transfers may be limited to six per calendar month |
| Availability | U.S. applicants 18+; California and most territories (except D.C.) ineligible |
Customer Service and Online Experience
Support is easy to reach during extended business hours by phone and TTY, with secure messaging and chat inside online banking for account-specific issues. The site consolidates disclosures, fee schedules, and FAQs in one place, so the rules and definitions aren’t hard to find. Wire instructions and cutoffs are published, as are ACH timing examples, which helps set expectations before moving money.
Mobile App
The iOS and Android apps handle balances, transfers, alerts, mobile check deposit, and secure messaging. Biometric login speeds things up on supported devices. Money Management and the Credit Score tool live in the same app, which keeps planning and saving under one roof. Enrollment is simple: open Online Banking, then use the same credentials in the mobile app.
Security
FDIC insurance runs through Cambridge Savings Bank, and coverage is combined across both brands. Policies and agreements clarify permitted transfer types, credential responsibilities, and electronic communication rules. A security hub offers fraud-prevention content, and platform features include biometrics on compatible devices. The mobile deposit agreement explains check handling and retention, so there’s no mystery around remote capture.
Summary
Ivy Bank’s savings account is designed for clarity and control. The essentials—no monthly fee, clear limits, clean timing guidance, and helpful tools—are easy to confirm before funding. Consider the $2,500 minimum, early-stage outbound limits, and California ineligibility when deciding if it fits a savings plan. For those who value documented rules and a tidy app experience, it’s a straightforward option with standard FDIC protection.
Methodology
This review follows the Online Banking Review Template and the General Review Template. It draws from Ivy’s savings page, fee schedule, FAQs, deposit handbook, Online & Mobile pages and agreements, and public app-store listings. CFPB Truth in Savings (Reg DD) and FDIC national-rate pages inform compliance framing. A validation pass, proofreading, and two plagiarism checks were completed after drafting.
Disclaimer
AI was used in the creation of this content, along with human validation and proofreading.
FAQs
Is Ivy Bank FDIC insured, and how is coverage calculated?
Yes. Coverage is provided via Cambridge Savings Bank and combined across both brands for insurance limits.
What minimums and tiers apply to the savings account?
A $2,500 balance is required to open and to earn the higher tier. A lower tier applies to $10–$2,499.99. Rates are variable and can change after opening; fees may reduce earnings.
How many withdrawals or transfers are allowed?
Savings activity may be limited to six per calendar month. Withdrawals are payable only to the account owner(s).
Who can apply?
U.S. residents age 18+ can apply. California residents and most U.S. territories (except D.C.) are not eligible.
What are the ACH and wire limits and timelines?
Inbound ACH is up to $250,000 per transfer/day and $1,000,000 per month. Outbound limits start lower for days 1–90 and step up after 90 days. ACH typically takes three to four business days, and there is a 1:00 a.m. ET creation cutoff. Domestic wires are $25 outgoing and $0 incoming.
What platforms and language are supported?
Native iOS and Android apps are available. Public pages and app-store entries indicate English.
Written byBestmoney Staff
The BestMoney editorial team is composed of writers and experts covering a full range of financial services. Our mission is to simplify the process of selecting the right provider for every need, leveraging our extensive industry knowledge to deliver clear, reliable advice.
