IGObanking Review: Online-Only Bank With High Yields
Written by
Rudri Bhatt Patel, CFHCâ„¢
Edited by
Elizabeth Constantineau, CFHCâ„¢
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If you prefer doing your transactions no matter where you are, iGObanking will be a good fit for you.
If you're comfortable completing all your banking tasks online, iGObanking is a solid choice due to its full range of deposit accounts and competitive rates. Plus, the bank has a network of 55,000 ATMs worldwide, which makes accessing money easy when you're on the go.
IGObanking is the online banking division of the commercial bank Flushing Bank. IGObanking’s mission is to help its customers succeed financially, and to that end, it offers a variety of deposit accounts, innovative technology and competitive rates.
IGObanking Checking Accounts
IGObanking offers one checking account. Here’s a look at some key features:Â
- You’ll need a minimum deposit of $100 to open a new account.
- There are no monthly maintenance fees.
- You’ll have access to over 50,000 ATMs.
- This account comes with no overdraft, insufficient funds or transfer fees.
Best For
Online Banking
Low Minimum Deposits
Savings Accounts
CD Accounts
Mobile App
No-Fee Checking Account
Even though iGObanking offers only one checking account, it may be worth your while since you never have to worry about keeping a minimum balance. Also, many ATMS are accessible to withdraw money.Â
Fees
No monthly service fee
APY
N/A
Min Opening
$100
Pros
- No overdraft or insufficient fund feesÂ
- Funds are FDIC-insured
- No maintenance fee Â
Cons
- Minimum deposit is requiredÂ
- You don’t earn interest with the checking accountÂ
Quick Take
IGObanking offers accessible, everyday checking for those who have trouble avoiding fees.Â
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IGObanking Savings Accounts Â
IGObanking offers two savings accounts: iGOsavings Plus and iGOsavings. Here are the details:Â
- Both savings accounts require no minimum deposit.
- Neither savings account has a monthly maintenance balance requirement.Â
- Annual percentage yields (APYs) for iGOsavings Plus are based on your account balance.
- With the iGOsavings account, you’ll earn a flat APY on all balances.
- You can also earn an additional 0.50% reward rate based on your iGOsavings Plus account balance of $25,000 or less if you maintain a minimum average monthly balance of $1,000 in your iGObanking checking account.
Best For
Online Banking
Low Minimum Deposits
Savings Accounts
CD Accounts
Mobile App
Low-Maintenance Savings Accounts
IGObanking savings accounts are ideal for people who want a simple savings account with the ability to earn rewards and not have to ante up money for an opening deposit.Â
Fees
No monthly service fee
APY
Up to
Min Opening
$0
Pros
- No monthly maintenance requirement Â
- No minimum depositÂ
- FDIC-insured
Cons
- Low APYÂ
- No in-person serviceÂ
- Fewer product options compared to bigger banks
Quick Take
GOBankingRates likes iGObanking’s savings options because people can start saving without having to come up with money for a minimum deposit. However, APYs are minimal compared to other savings accounts.
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IGObanking CD Accounts Â
IGObanking certificates of deposit (CDs) require $1,000 to open, which is on par with — and in some instances even more reasonable than — what other banks require. CD terms range from six months to three years.Â
- You’ll need a minimum deposit of $1,000 to open a new account.
- CDs are FDIC-insured.
- CD terms currently on offer are from 6 months to 36 months.
- CD rates are competitive and you can earn up to APY.
Best For
Online Banking
Low Minimum Deposits
Savings Accounts
CD Accounts
Mobile App
Reliable Savings With High APYs
IGObanking offers competitive CD rates and various terms for those who want to grow funds and don’t need to access cash.Â
Fees
Early withdrawal penalties may apply
APY
Up to
Min Opening
$1,000
Pros
- Lower minimum depositÂ
- Competitive CD rates
Cons
- No specialty CDs offeredÂ
- Limited liquidityÂ
- Early withdrawal penaltyÂ
Quick Take
IGObanking CDs offer a way for those who have extra cash to save. IGObanking CD rates tend to be higher than those of a traditional savings account.Â
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IGObanking Money Market Accounts
IGObanking offers two money market accounts: one based on the index fund and a more traditional money market account. A minimum opening deposit of $25,000 is required to open this account, but you’ll earn a high yield on your deposit.
- You’ll need a minimum deposit of $25,000 to open an account.
- The account funds are FDIC-insured.
- You can earn up to  APY, based on your balance.
- You can set up automatic transfers from your checking account to make building your balance easier.Â
- This account allows for six transfers per month.
Best For
Online Banking
Low Minimum Deposits
Savings Accounts
CD Accounts
Mobile App
Safe Way To Earn Interest
This account is ideal for high-net-worth customers who can meet a significant minimum balance to earn the highest tiered rate. It offers accessibility for routine transactions with a monthly limit.
Fees
No monthly service fee
APY
Up to
Min Opening
$25,000
Pros
- Earns a high APYÂ
- FDIC-insuredÂ
- Highly liquid
Cons
- Minimum deposit is highÂ
- APY may not keep up with inflation
- Transaction limitsÂ
Quick Take
High-net-worth individuals can grow their existing wealth with this money market account if they don’t need funds immediately.Â
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Banking Experience
IGObanking offers multiple ways to get in touch, which is helpful when you have a question or an issue you need resolved.
To reach iGObanking’s customer service representatives, call 888-432-5890 seven days a week from 7 a.m. to 11 p.m. ET. Additionally, you can use the automated banking system to retrieve account information by calling 877-446-2935.
For non-urgent matters, you can also email your query to the following address: customerservice@igobanking.com.Â
IGObanking app on Google Play is rated as 4.0 out of 5, while in the Apple App Store the rating is 3.9 out of 5.
How Does IGObanking Compare?
When deciding on an online bank, you want to be sure to find the one that’s best for your needs. Take a look at how iGObanking stacks up to the competition.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
$0
$0 to $10
APY
APY
APY
N/A
to
Up to
Min Opening
Min Opening
Min Opening
$100
$0
$25 to $100
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
$0
No monthly service fee
APY
APY
APY
Up to
Min Opening
Min Opening
Min Opening
$0
$0
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Early withdrawal penalties may apply
No monthly service fee
Early withdrawal penalties may apply
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000
$0
$1,000
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
$0
$5
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$25,000
$0
$100
IGObanking vs. Ally Bank
Ally Bank has more banking options than iGObanking — including mortgages, auto loans, personal loans and investment products. These account offerings make it more appealing if you’re looking for a single source for all your financial services products. IGObanking, however, offers a reward interest rates and other account perks that customers may find valuable.
IGObanking vs. BankDirect
BankDirect offers more term options for its CDs than iGObanking. However, BankDirect requires a very high opening deposit of $10,000 to open any CD, while iGObanking requires only a $1,000 opening deposit.Â
IGObanking vs. LendingClub
LendingClub offers a Rewards Checking account that offers interest on balances and also pays unlimited 1% cash back on debit card purchases. However, iGObanking has more term options for its CDs and the potential for higher CD rates.
Final Take Â
IGObanking offers checking and savings products that are accessible online and via mobile app, or at over 55,000 ATMs worldwide. Additionally, the products offer very competitive interest rates, which can help you reach your savings goals faster. Opening an account can be done online in just a few minutes. If you’re looking for a new online bank, iGObanking may be just the place for your money.
IGObanking FAQ
Here are the answers to some commonly asked questions about iGObanking.- Is iGObanking safe?
- IGObanking is safe. Its funds are FDIC-insured. The deposits are insured up to $250,000 per depositor, per ownership category, in the unlikely event of bank failure.
- What is the minimum balance of an iGObanking account?
- The checking account requires a $100 minimum deposit. A CD requires a minimum $1,000 minimum deposit.
- How much money can you withdraw from iGObanking on a single day?
- You can typically withdraw $1,000 per day. However, withdrawal amounts are impacted by the number of accounts and the relationship you have with the bank.
- Does iGObanking charge a monthly maintenance fee?
- There are monthly maintenance fees for some accounts, but these are waivable.
- What services does iGObanking provide?
- IGObanking offers personal and business services.
Karen Doyle and Cynthia Measom contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 18, 2025.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
