1
Apply online.

Completing our online application only takes a few minutes. Once submitted, keep an eye on your inbox for next steps.

2
Call us.

Need help with your application? Our team members will be happy to walk you through the process. All you need to do is set up an appointment.

3
Visit your local branch.

Once approved, your next stop is a local branch. One of our team members will talk through your options, goals and loans options. After we verify your application information, we'll prepare your check.

my tower savings reviews

Unlocking the Truth: Honest My Tower Savings Reviews from Real Customers

my tower savings reviews

Introduction:

When it comes to finding the best savings account, there are countless options available. With so many choices, it can be overwhelming to determine which one is the right fit for your financial goals. That's where My Tower Savings comes in. In this comprehensive review, we'll take a closer look at the features and benefits of My Tower Savings and help you decide if it's the right choice for you.

What is My Tower Savings?

My Tower Savings is an online-only bank that offers high-yield savings accounts. This means that it operates completely digitally, without any physical branches. Founded in 2018, My Tower Savings has quickly gained popularity among savers looking for competitive interest rates and no fees.

Features and Benefits

One of the standout features of My Tower Savings is its high annual percentage yield (APY). As of September 2021, their savings account offers a 0.5% APY, which is significantly higher than the national average of 0.04%. This means that your money will grow at a faster rate with My Tower Savings than with traditional brick-and-mortar banks.

In addition to a high APY, My Tower Savings also offers no monthly maintenance fees or minimum balance requirements. This is a huge advantage for savers who want to avoid hidden fees and keep their funds easily accessible.

Another benefit of My Tower Savings is its mobile app. With the app, you can easily manage your account, deposit checks, and transfer funds. The app also allows for mobile check deposit and has built-in security features, such as fingerprint or face recognition, to keep your account safe.

Pros and Cons

As with any savings account, there are both pros and cons to consider with My Tower Savings. Let's take a closer look at some of the strengths and weaknesses of this bank.

Pros:

Cons:

Interest Rates

As previously mentioned, My Tower Savings offers a competitive APY of 0.5%. This rate is consistent across all account balances, so even if you have a higher balance, you'll still earn the same rate. While this may not be the highest APY on the market, it is considered a competitive rate and can help your savings grow at a steady pace.

Customer Service Experience

Since My Tower Savings is an online-only bank, their customer service is mostly handled through email and their website. While they do have a toll-free customer service number, it is only available on weekdays from 8 am to 6 pm ET.

Some customers have reported longer wait times for email responses, which can be concerning for urgent matters. However, overall, customers seem to be satisfied with the level of service they receive from My Tower Savings.

Conclusion

Overall, My Tower Savings is a solid choice for those looking to maximize their savings with a high APY and no fees. Its mobile app and user-friendly interface make it easy to manage your account on-the-go. However, if you prefer to have access to physical branches or need a checking account option, this may not be the best fit for you.

Ultimately, it's essential to carefully consider your financial goals and banking needs before choosing a savings account. Take the time to do your research and compare different options, and you'll be well on your way to reaching your savings goals with My Tower Savings or another reputable bank that fits your needs.

So, if you're looking for a hassle-free, high-yield savings account, My Tower Savings may just be the perfect choice for you. Give it a try and see the returns on your savings grow.

 

 

 
Recent Post
IMPORTANT: The Operator of this website is not a lender, financial institution, loan broker or an agent of a lender or loan broker and does not make any credit decisions. This service, which connects consumers with eligible third party lenders, is free to consumers. This service does, however, receive payment from lenders for referring lead data to them. Although multiple factors dictate the order in which lenders have the opportunity to purchase a lead, the highest bidding lender will most often get the opportunity. Lenders may perform credit checks through any credit reporting bureau and may also verify the information that you provide on this form including social security number, address, phone number, employment history, bank account information etc. Information may be shared with non-lenders or other intermediary service providers (like us) to help you connect with a lender. This service works with many different kinds of lending partners, including tribal lending institutions. Federally recognized Indian tribes are independent sovereign nations and their wholly owned entities are generally not required to follow state and local laws regarding rates, fees and other loan related conditions. However, Indian tribes and their wholly owned entities are required to follow some applicable federal laws. If you are connected with a tribal entity, be sure to check their rates as they may carry higher interest rates when compared to state-licensed lenders. The Truth in Lending Act requires lenders to disclose rates, fees and other important conditions of a loan. After checking the terms, make a determination of whether or not you can afford the payments. We earnestly encourage you to reject any offer that is not within your financial means. Short-term, small-dollar loans are not a long term solution to financial hardship. You may also consider seeking professional advice regarding your financial circumstances and alternatives to loan products. Late payments of loans may result in additional fees or collection activities, or both. Each lender has its own terms and conditions. Please familiarize yourself with your lender<92>s policies for further information. Additionally, failure to repay your loan may carry nonpayment penalties and collection activities. Please review nonpayment terms with your lender directly. Every lender has a different renewal policy please review your particular lender<92>s renewal policy for more information. State Availability: Lenders that participate in the services provided by this website do not offer loans in every state. If you are from a state that the lenders do not service, you will not be able to be connected to a lender. Our service does not constitute an offer or solicitation for any loan products that are prohibited by state law. Additionally, this is not a solicitation for any particular loan and is not a loan offer.