A good bank account can make a world of difference when it comes to saving money.
Savings accounts usually fall into two categories: those that help you increase your savings and those that don’t.
Primis Bank offers savings options that fall neatly into categories of accounts that help you build your savings.
If you’re looking for a place to deposit your funds, it’s worth taking a look at what Primis Bank has to offer.


- Primis Bank offers savings accounts with relatively high yields and low fees.
- You only need $1 to open a savings account with Primis Bank.
- Work with Primis Bank and take advantage of our highly rated mobile app.
Primis Bank savings account |
|
What is Primis Bank?
Primis Bank is based in Richmond, Virginia. However, customers can open online accounts nationwide.
According to the bank, we provide pioneering technology and solutions for everyone. The Bank’s mission is to “create great value for our customers and shareholders by developing an unrivaled team, delivering unrivaled solutions, building close relationships and always putting our customers first. Our vision is to be bigger, better and better than our competitors for our customers.”
what does it offer?
Primis Bank offers a wide range of financial products including checking accounts, mortgages, personal loans, lines of credit and credit cards. However, this review will focus on the Primis Bank savings product.


savings account
Primis bank offers savings accounts designed to help you grow your funds. At the time of writing this account is offering 4.35% APY on savings. You can start saving with as little as $1.
Competitive APY is combined with relatively low fees. There are no monthly service fees or minimum balance requirements to maintain your account.
CDs
In contrast to savings account options, the APY associated with these CDs is relatively low. There are CD options ranging from 6 to 72 months.
Here’s the breakdown of APY at the time of writing:
As you can see, the APY for CDs offered by Primis Bank is relatively low.
For most savers, the high-yield savings account offered by Primis Bank may be a better choice. If you want to invest your money in CDs, it’s worth considering CDs that offer higher APY.
IRAs
An Individual Retirement Account (IRA) provides a way to get tax benefits in preparation for retirement. If you’re looking to start building your retirement savings, Primis offers access to both traditional IRAs and Roth IRAs.
As with all IRAs, there are annual contribution limits that must be adhered to. Details regarding investment options available through this IRA are limited.
Before signing up, you can contact your Primis Bank representative to learn more about Primis Bank’s IRA investment options.
health savings account
A Health Savings Account (HSA) provides a way to save for future medical expenses. Used effectively, HSA can be a useful retirement planning tool.
These accounts offer several tax benefits, including tax-free contributions, tax-free interest income, and tax-free withdrawals for eligible medical expenses.
Through Primis Bank, you can open an HSA that is not tied to any particular employer.
Are there any fees?
Primis Bank tends to offer relatively low fee structures for their accounts. For example, savings accounts do not include service fees, transaction limits, or transfer fees.
However, please be aware of the following fees.
- $5 Domestic Outgoing Fee
- International outgoing telegraphic charges $35
- $5 reverse transfer fee
Regardless of the account type, make sure you are comfortable with bank charges before signing up.
How do I contact Primis Bank Savings?
If you need to contact Primis Bank, you can head to any of their 35 branches in the Richmond area.
Customers who do not live near Richmond do not have a local branch. However, you can email your bank at customercarecenter@primisbank.com or call 833-477-4647.
Additionally, you can start an online chat. It took him over an hour on a weekday afternoon to connect with a representative via chat.
You can bank online or via our highly rated mobile app iOS again android.


How do Primis Bank savings compare?
Primis Bank customers can find attractive APYs attached to their high-yield savings accounts.
Primis Bank offers relatively high APYs for its savings accounts, but you can still find higher APYs. For example, UFB Direct offers a high-yield savings account with APY of 5.02%, while Discover offers 3.60%.
You can also find higher rates at CIT Bank with a rate of 4.20% and Western Alliance Bank which offers a high yielding savings account with an APY of 4.20%.
Ultimately, you should compare APYs when opening an account to find the best bang for your buck.
How do I open an account?
You can open an account by selecting “Open Account” from the menu. From there, you can choose the type of account you want to open. Go to Digital Applications.
To get started, be prepared to provide your name, address, date of birth, driver’s license, etc. You will also need to provide your funding account information to make your first deposit.


Is it safe and secure?
Primis Bank offers FDIC insurance accounts. This means that funds in your savings account are protected up to $250,000. Primis Bank goes beyond FDIC insurance to provide bank-level security to protect your funds and personal information.
Is it worth it?
The competitive APY attached to Primis Bank savings accounts is undeniably attractive. But the bank is flat on his CD, IRA, and HSA offerings.
If you’re looking for a place to stash your savings for optimal growth, Primis Bank might be for you.
If you want a comprehensive banking experience with high overall APY, you may need to keep looking for a bank that fits your needs.
Features of Primis Bank
|
|
Savings account fee |
|
Other fees to watch out for |
|
|
|
35 locations in the Richmond, Virginia area |
|
customercarecenter@primisbank.com or live chat |
|
Web/desktop account access |
|