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Associated Bank could be worth considering if you plan to open the Associated Access Checking™ Account. The checking account doesn't charge monthly service fees, and you'll earn higher interest rates on savings, CDs, and money market accounts when you link them to the checking account.
Associated Bank Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 4 |
| Checking | 4.25 |
| Money market account | 4 |
| CD | 3.75 |
| Trustworthiness | 5 |
| Total | 4.25 |
Associated Bank Pros and Cons
| Pros | Cons |
|
|
Associated Bank Savings Account
$5 monthly service fee
0.15% to 0.40%
$25
- Low minimum opening deposit
- Possible to waive the monthly service fee
- Low interest rate
- $5 monthly service fee
- Around 200 branches in Illinois, Minnesota, and Wisconsin, and commercial banking in Indiana, Michigan, Missouri, Ohio, and Texas
- Over 37,000 free ATMs through both the bank's ATM network and the MoneyPass ATM network
- Earn Associated Relationship Savings rates if you have an Associated Bank checking account, a minimum opening deposit of $25,000, and a minimum daily balance of $10,000
- To waive the $5 monthly service fee, keep at least $300 in your account daily OR make an automatic deposit of at least $25
- If you're under the age of 18 the monthly service fee is automatically waived
- Interest compounded daily and deposited monthly
- Member FDIC
The Associated Bank Savings Account might be a decent choice if you qualify to earn Associated Relationship Savings rates, because you'll earn a higher rate while also waiving monthly service fees. To get eligible for a higher rate, you must have an Associated Bank checking account, make a minimum opening deposit of at least $25,000, and keep a minimum daily balance of $10,000.
But if you don't meet any requirements to waive the monthly service fee, our best savings accounts guide includes more appealing options.
Associated Access Checking Account
no monthly service fee
None
$25
- Low minimum opening deposit
- No monthly service fee
- Multiple options for overdraft protection
- Receive up to a $400 bonus on new checking accounts through March 31, 2022 if you meet the requirements
- Earn higher rates on CDs, savings accounts, and money market accounts when you link to an Associated Access Checking Account
- No paper checks
- $3 out-of-network ATM fee
- $4 paper statement fee
- $36 overdraft fee
- $10 transfer fee if you use overdraft protection
- Around 200 branches in Illinois, Minnesota, and Wisconsin, and commercial banking in Indiana, Michigan, Missouri, Ohio, and Texas
- Over 37,000 free ATMs through both the bank's ATM network and the MoneyPass ATM network
- No monthly maintenance fees
- Overdraft protection that lets you link your checking account to another account or apply for a line of credit
- $10 transfer fee if you utilize overdraft protection
- Receive up to a $400 bonus when you set up $500 or more in direct deposits within 90 days of opening your account
- At the end of 90 days, Associated Bank will add up your average daily balances between days 61 and 90, and your bonus will depend on the sum of your balances; You'll earn $200 for a sum of $1,000 to $4,999.99; $300 for a sum of $5,000 to $9,999.99; $500 for a sum of $10,000 or more
- Member FDIC
Associated Bank's strongest product is its Associated Access Checking™ Account. It has a low minimum opening deposit and doesn't charge monthly service fees.
Associated Bank CD
0.02% to 4.00%
$1,000
- Terms range from 30 days to 5 years
- Low interest rate
- $1,000 minimum opening deposit
- Standard-to-high early withdrawal penalties
- Interest compounded quarterly, not daily
- Around 200 branches in Illinois, Minnesota, and Wisconsin, and commercial banking in Indiana, Michigan, Missouri, Ohio, and Texas
- Over 37,000 free ATMs through both the bank's ATM network and the MoneyPass ATM network
- Terms range from 30 days to 5 years
- Earn preferred rates if you have an Associated Bank checking account
- Early withdrawal penalties: For terms shorter than 1 year, 90 days of interest; For terms between 1 year and 2 years, 181 days of interest; For terms between 2 years and 3 years, 270 days of interest; For terms 3 years or longer, 365 days of interest
- May transfer interest to another Associated Bank account or obtain a check if your CD has a balance over $5,000
- Interest compounded and deposited quarterly
- Member FDIC
Associated Bank Associated Bank Regular Term CD are pretty much in line with what most brick-and-mortar banks offer. You'll need at least $1,000 to open a CD, and the interest rates are pretty low.
The best online banks will have more competitive CDs that pay higher interest rates and require less money to get started.
Associated Bank Money Market Account
$16 monthly service fee
0.50% to 0.75%
$1,000
- Possible to waive the monthly service fee
- Check writing
- ATM card
- $1,000 minimum opening deposit
- Low interest rate
- $16 monthly service fee
- Must meet and maintain specific Associate Choice Checking Qualification to earn platinum choice rate
- Around 200 branches in Illinois, Minnesota, and Wisconsin, and commercial banking in Indiana, Michigan, Missouri, Ohio, and Texas
- Over 37,000 free ATMs through both the bank's ATM network and the MoneyPass ATM network
- Earn preferred rates if you have an Associated Bank checking account
- To waive the $16 monthly service fee, keep at least $1,000 in your account daily
- Interest compounded and deposited monthly
- Member FDIC
The Associated Bank Select Money Market Account has a$16 monthly service fee if you don't keep at least $1,000 in your account daily. Unless you write checks frequently, Associated Bank's Associated Bank Associated Bank Savings Account is likely a better option since it has lower minimum balance requirements.
How Associated Bank Works
Associated Bank has around 200 branches in Illinois, Minnesota, and Wisconsin. Commercial banking services are also available if you live in Indiana, Michigan, Missouri, Ohio, and Texas.
Customers have access to over 37,000 free ATMs through the bank's ATM network and the MoneyPass ATM network.
Speak with a live representative over the phone from 6 a.m. to 10 p.m. CT on weekdays or 8 a.m. to 7 p.m. CT on Saturdays.
The bank's mobile app is rated 3.7 out of 5 stars in the Google Play store and 4.8 out of 5 stars in the Apple store.
Associated Bank is FDIC insured, so up to $250,000 is secure in an individual bank account.
Is Associated Bank Trustworthy?
The Better Business Bureau rates businesses by how they are likely to effectively interact with customers. Associated Bank has an A+ rating from the BBB.
Associated Bank has not been involved in any recent public controversies.
How Associated Bank Compares
Associated Bank vs. U.S. Bank
Both U.S. Bank and Associated Bank offer savings accounts with better rates if you have another account with them and if you deposit more money in the account. Of the two, the U.S. Bank Smartly® Savings Account is the clear winner; its rates are significantly higher than Associated Bank's relationship savings account, and it's easier to waive its monthly fee.
If you're looking for a free checking account, you might prefer Associated Bank. The Associated Access Checking™ Account has no monthly service fee, but U.S. Bank doesn't offer a checking account without monthly service fees.
Associated Bank vs. PNC Bank
PNC Bank offers an online high-yield savings account to people who live in areas without branches. If you live in Minnesota, you'll be eligible for PNC's high-yield savings account, which offers the most competitive interest rate between Associated Bank and PNC Bank. However, if you live in Illinois or Wisconsin, the Associated Bank Savings Account pays a higher rate than the PNC Bank Standard Savings Account when you own a checking account. Just keep in mind you'll also need to deposit at least $25,000 and keep a minimum daily balance of at least $10,000 to get a preferred interest rate on the Associated Bank savings account.
If you're looking to open a checking account, it will likely be toss-up between Associated Bank and PNC Bank. Associated Bank doesn't charge monthly service fees on its checking account. Meanwhile, PNC Bank has budgeting tools and alerts to prevent overdraft fees.
Why You Should Trust Us: How We Reviewed Associated Bank
We rate bank accounts on a scale from one to five stars. For Associated Bank's checking, savings, and money market accounts, we used Personal Finance Insider's bank account ratings methodology. The exact factors we evaluate vary depending on the type of account — for example, we look at overdraft fees for checking accounts and interest rates for savings and money market accounts.
For Associated Bank's CDs, we used our CD rating methodology which looks at interest rates, minimum opening deposits, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, miscellaneous features, and the security and ethics of the company.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Frequently Asked Questions (FAQ)
No, Associated Bank has branch locations in Wisconsin, Illinois, and Minnesota. Commercial banking services are also available in Indiana, Michigan, Missouri, Ohio, and Texas.
Yes, Associated Bank is FDIC insured. When a bank is FDIC insured, money deposited into your bank account is secure even if a bank were to shut down. You may deposit up to $250,000 in an individual bank account, or $500,000 in a joint account.
