Investors Bank was founded in 1926 and is now one of New Jersey’s largest banks, with over $20 billion in assets. The full-service bank offers a wide range of account options, including checking, savings, mortgages and commercial banking solutions. You can bank online with Investors Bank or visit one of their branches, which are exclusively located in New York and New Jersey.
Although Investors Bank offers a wide range of accounts, this review will focus exclusively on two specific checking accounts, the YourStyle Checking account and the eAccess Checking account. Here’s what will be featured in this review:
- Investors Bank YourStyle Checking Account Overview
- Investors Bank eAccess Checking Account Overview
- How To Bank With Investors Bank
- Availability of Funds
- Who Is Investors Bank’s Account Options Best For?
The YourStyle Checking account is a full-feature checking account that provides a lot of perks, but it also carries a $10 monthly maintenance fee that can be avoided. To avoid this fee, you’ll need to maintain a $1,000 average monthly balance, have monthly direct deposits or mobile deposits of at least $500, or complete 10 monthly point-of-sale transactions.
Perks of the account include the following:
- Identity theft protection
- Cellphone protection
- Mobile couponing
- uChoose Rewards when you use your debit card at participating retailers
- Free bill pay
- Free e-statements
- Free online banking
- Free mobile banking
Currently, the account offers a new account bonus of up to $250, spread out over 10 monthly payments of $25. To qualify, you’ll need to make monthly Automated Clearing House (ACH) or mobile check deposits of at least $500; otherwise, you’ll need to make at least 10 monthly point-of-sale transactions.
With this account, ATM transactions at Investors Bank ATMs are free of charge, as are the first four per month at non-Investors Bank machines. Additional non-Investors ATM transactions incur a $3 fee.
Note that this account is only available for customers in New York and New Jersey.
The Investors Bank eAccess Checking account is a straightforward checking account. While YourStyle Checking is only available to customers in New York and New Jersey, this one is available to U.S. citizens and permanent residents outside of the New York Metro area and New Jersey.
Here are some of the features included with this account:
- Contactless Transactions with Debit Card
- Free bill pay
- Free e-statements
- Free online banking
- Free mobile banking
Here are other important details of the eAccess account:
- Minimum to open: $50
- Monthly fee: $10, but can be avoided
- Statement options: eStatements only
The eAccess Checking account offers standard insurance from the Federal Deposit Insurance Corp. (FDIC) of up to $250,000.
The account also comes with features like YourSecure Debit Card Control, which can help reduce debit card account fraud. It also comes with free bill pay, credit score monitoring and Apple Pay, Google Pay and Samsung Pay.
How To Bank With Investors Bank
The YourStyle Checking and eAccess Checking accounts at Investors Bank do have some differences when it comes to banking. Whereas the YourStyle Checking account is more of a traditional bank account, the eAccess account is an entirely online option. Here’s a look at how to bank with Investors Bank via these different accounts.
How To Sign Up
The process to open an account at Investors Bank varies depending on the type of account you choose.
YourStyle Checking Account
The YourStyle checking account is a traditional bank account, and you can open it online, or by visiting one of Investors Bank’s more than 150 branches in New York and New Jersey.
eAccess Checking Account
The eAccess Checking account is a strictly online account, so it makes sense that you’ll have to open the account online as well. You must be a U.S. citizen or permanent resident 18 years or older to open an account. In addition to your personal contact information, including your email, you’ll need the following information to open your account:
- A valid Social Security number
- Some form of government-issued ID
- Your home address
- Access to your email account (for verification)
To open and fund your account, you’ll have to provide the routing and account numbers of your existing bank or financial institution.
The entire online application process should take about 10 minutes.
Mobile and Online Banking
Investors Bank offers its customers both online and mobile banking. Electronic access is an added benefit for the YourStyle Checking account, as that account offers customers branch services as well; for the eAccess Checking account, online and mobile banking are critical, as these are the only ways to access your account.
Services provided with online banking include:
- Free credit score access
- Bill pay
- Funds transfer
- Account information, including balances
- YourStyle perks
- Send and request money via Zelle
- Connection to Quicken software, if applicable
- Ability to aggregate and analyze accounts at other institutions
Mobile banking offers many of the same services, such as funds transfer, bill pay and account access. Additional features available via both Android and iOS apps include mobile check deposit and bill capture, which allows you to take a picture of your bill to pay it.
The fee structures of the YourStyle Checking and eAccess Checking are quite similar.
The YourStyle Checking account carries a $10 monthly maintenance fee. However, this can be waived through either a $500 monthly direct deposit, or $500 in monthly mobile check deposits, or a $1,000 average monthly balance or 10 monthly point-of-sale transactions.
There are no ATM fees at Investors Bank machines, and the first four monthly transactions at non-Investors Bank ATMs are also free. Additional out-of-network ATM transactions cost $3 per transaction.
Overdraft fees for this account are $30 per instance, with up to five fees charged per day.
As with YourStyle, the eAccess account carries a $10 monthly maintenance fee. However, this can be waived through either a $500 monthly direct deposit, or $500 in monthly mobile check deposits, or a $1,000 average monthly balance or 10 monthly point-of-sale transactions.
For ATMs, the eAccess account offers ATM rebates for up to $15 worth per month.
Availability of Funds
The general policy at Investors Bank is to make funds from check deposits available on the second business day after receipt, with the first $225 available on the first business day. Electronic direct deposits are available on the same day they are received, as are wire transfers and cash deposits that are made in person.
U.S. Treasury checks, Investors Bank checks, state and local government checks and cashier’s, certified and teller’s checks are typically available on the first business day after deposit.
Who Is Investors Bank’s Account Options Best For?
The YourStyle Checking account and the eAccess Checking account could appeal to two different types of customers. Those looking for an in-person banking experience will likely give the YourStyle Checking account the nod, as it offers branch network services to New York and New Jersey customers. The perk of being able to earn when you spend is a nice bonus with YourStyle Checking. The eAccess Checking account, on the other hand, is a completely online account with its main strengths being the ease of online access and ability to transfer funds, along with the monthly ATM rebates.
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Rates and fees are subject to change. Information on accounts is accurate as of Oct. 21, 2020.