ZYNLO Bank Review: How To Earn Up to 4.00% APY

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Quick Take: ZYNLO offers the personalized service and financial backing of a traditional bank, with high interest rates and no monthly fees of any kind.
  • Customer Service
  • Savings
  • Checking Account
  • Money Market Account
How did we calculate this?


  • Network of 55,000 fee-free ATMs nationwide
  • Round up your purchases automatically into savings
  • High-yield checking/savings account
  • High competitive APY on money market
  • Online bill pay
  • Early direct deposit
  • 24/7/365 customer service by phone or email


  • No cash deposits
  • Does not offer paper checks
  • $10 minimum opening deposit for any account
  • Money market balances over $250,000 receive 0.10% APY
  • No branches to visit

Traditional banks rarely offer interest-earning checking accounts. But as online banks and neobanks grow in popularity, so do your opportunities to earn savings on your checking account balance.

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ZYNLO Bank, the online division of PeoplesBank, headquartered in Holyoke, Massachusetts, is one example of a fin-tech with a high-yield checking and savings account, plus a money market account that earns up to 4.00% APY.

Overview of ZYNLO

ZYNLO Bank is a financial technology company serviced by PeoplesBank. ZYNLO offers a spending account, which operates just like a checking account but without paper checks, the Tomorrow savings account, and a high-yield money market account that offers a APY on deposits up to $250,000.

None of the accounts have any fees associated and just a $10 minimum deposit is required to open any kind of account. You don’t have to maintain that minimum balance — you’ll earn interest as long as you keep one cent in an account at any time. Your money is FDIC-insured for up to $250,000 per account holder, per account type. Since PeoplesBank is headquartered in Massachusetts, funds over FDIC limits are insured by the Depositors Insurance Fund (DIF), That means you have unlimited deposit protection with ZYNLO.

ZYNLO Account Offerings and Features

Take a closer look at some of the accounts and features that ZYNLO provides.

ZYNLO More Spending Account

A ZYNLO More Spending account has some features you won’t find in most traditional banks and few neobanks. First, you can earn APY on any money in your spending account, with no minimum balance requirements. You’ll have access to your money at any of the 55,000 fee-free ATMs in the AllPoint network. If you use an out-of-network ATM, ZYNLO won’t charge fees, although the other bank might.

You can also enjoy direct deposit up to two days earlier than you might receive your funds with traditional banks.

Your ZYNLO account also has a few other benefits, such as easy person-to-person payments for free and no overdraft fees.

ZYNLO Savings Account

A ZYNLO savings account offers the same APY as your More Spending account. You can ramp up your savings through the Zyng Round Up and Match program. Every time you make a debit card purchase, it will round up the purchase amount and put the additional funds into your Tomorrow Savings.

New customers receive a 100% match on those funds for the first 100 days after opening the account. If you maintain an average daily balance of $5,000, you’ll continue to receive 100% matching funds. Otherwise, ZYNLO will give you an extra 25% of the round-up savings amount. This feature offers an excellent incentive to save.

ZYNLO Bank Money Market Account

You can double your savings APY by opening a money market account with ZYNLO Bank. Like their checking and savings accounts, a money market account requires just a $10 deposit and a minimum balance of just one penny.

Earn 4.00% APY on your money up to $250,000 and access it at any time with no hidden fees and no withdrawal penalties.

ZYNLO Bank Customer Service

Unlike some online-only banks, ZYNLO provides a 24/7/365 customer service hotline. You can reach a representative by calling 1-844-996-5622. If you’d prefer not to speak on the phone, you can email support@zynlobank.com

Who Should Choose ZYNLO Bank?

If you are serious about saving and want to earn a high APY on checking and money market balances, ZYNLO Bank might be the best choice for you. If you’d like to switch to an online bank but have concerns about customer service, ZYNLO’s 24/7 call center should help alleviate your fears.

The $10 minimum opening deposit, no minimum account balance and no monthly fees should appeal to people who are turned off by the monthly maintenance fees or minimum deposit requirements at traditional banks.

Final Note

ZYNLO blends the personalized service of traditional banking with the high APYs characteristic of online banks. Backed by FDIC and DIF insurance, ZYNLO is a safe way to park your money for a high return.

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Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of May 3, 2023.

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.

About the Author

Dawn Allcot is a full-time freelance writer and content marketing specialist who geeks out about finance, e-commerce, technology, and real estate. Her lengthy list of publishing credits include Bankrate, Lending Tree, and Chase Bank. She is the founder and owner of GeekTravelGuide.net, a travel, technology, and entertainment website. She lives on Long Island, New York, with a veritable menagerie that includes 2 cats, a rambunctious kitten, and three lizards of varying sizes and personalities – plus her two kids and husband. Find her on Twitter, @DawnAllcot.
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