Rising Bank Review 2023
By alexandreFinance
Rising Bank Review 2023
Rising Bank Review 2023
Rising Bank is a relatively new player in the digital banking industry, having launched in 2020. The bank has been gaining popularity due to its competitive interest rates and unique features, such as cashback rewards on deposits. In this review, we will take a closer look at Rising Bank’s offerings and assess whether it’s a good option for your banking needs.
Account Types
Rising Bank offers two primary account types – savings and certificates of deposit (CDs). Both accounts come with no monthly fees and competitive interest rates. The savings account has a minimum opening deposit requirement of $100, while the CD account requires a minimum deposit of $1,000. Additionally, the CD account has fixed interest rates that vary based on the term length.
One of the unique features of Rising Bank’s savings account is the cashback rewards program. Customers can earn up to 0.05% cash back on their deposits each month, depending on their balance. This is an attractive feature that sets Rising Bank apart from other online banks.
Overall, Rising Bank’s account types are straightforward and offer competitive rates. The cash back rewards program is a great incentive for customers to save more.
Mobile App
Rising Bank’s mobile app is well-designed and easy to use. Customers can access all of their account information, view transaction history, deposit checks, and transfer funds through the app. The app also provides real-time alerts for account activity and has biometric login options for added security.
One area where the app could improve is in its budgeting tools. While the app allows customers to set saving goals, it doesn’t offer much in terms of tracking expenses or providing spending insights. However, this may not be a deal-breaker for customers who use other apps or services for their budgeting needs.
Overall, Rising Bank’s mobile app is user-friendly and offers all the necessary features for banking on-the-go.
Customer Service
Rising Bank offers customer support through phone, email, and chat. The bank’s website also has a comprehensive FAQ section that covers common questions and issues. In our experience, the customer service team was responsive and helpful when we contacted them with a query.
One area where Rising Bank could improve is in its availability, as customer support is only available during limited hours (Monday-Friday, 8 am – 5 pm CST). However, the bank does offer 24/7 automated phone support for basic account information.
Overall, Rising Bank’s customer service is reliable and helpful, but the limited availability may be inconvenient for some customers.
Pros and Cons
Here is a summary of the pros and cons of Rising Bank:
Pros:
- Competitive interest rates
- Cashback rewards program for savings account
- User-friendly mobile app
- No monthly fees
Cons:
- Customer support availability is limited
- CDs have high minimum deposit requirements
- No budgeting tools in mobile app
Rising Bank is a solid option for customers who prioritize competitive interest rates and no monthly fees. The cashback rewards program is a unique feature that can help customers save even more. While the mobile app and customer service are reliable, they could benefit from some improvements in certain areas. However, overall, Rising Bank is a promising player in the digital banking industry that is worth considering for your banking needs.
