Acacia Federal Savings Bank is pushing for their Top Choice Checking Account’s high yield checking account. Customers can take advantage of the checking account’s rates by depositing a minimum of $5,000 and paying a $15 monthly service charge. For further information, interested parties should check Acacia’s website. Since this is solely a checking account, customers do not have to be wary of requirements like debit card usage minimums or maintaining balances.

Customers need to know these Top Choice Checking Account advantages:
• Automatic refund of other bank’s ATM’s fees.
• Free initial checkbook containing 50 checks.
• Bill Payment features come free with the service.

Bank based transfers are available for Acacia Federal Savings Bank customers. However they will need to be aware of certain caveats:
• Maintaining amount for Acacia Federal Savings Bank accounts should stay at $5,000 monthly and $2,000 daily. This should be applied between all the banks involved.
• There are only free 8 incoming transfers and 1 outgoing transfers.

Customers can opt to use transfers via ACH using another bank.

Since Acacia Federal Savings Bank is not just a new player in the industry, it does not need to raise APY rates like new banks do. The excellent rate found in their page is their standard AYP for Top Choice Checking Accounts.

Aside from checking, the bank also has high yield in its Individual Retirement Account Certificate of Deposits in different terms. 60 month IRAs promise the most growth at 3.05%. The other termination periods also offer competitive APYs. However customers need to check their checking account disclosure in order to make sound choices about their money. Early withdrawals can cost 6 months worth of interest for savings kept in the bank for over a year.

Acacia Federal Savings Bank, a company of Acacia Life Insurance, has been serving depositors in the nation’s capital since 1985 under the supervision of the Office of Thrift Supervision. FDIC insures each deposit made at Acacia. Its currently has headquarters in Falls Church, Virginia where it headquarters its deposit service.

Though the bank only services Washington D.C., people from all over the country can open an account in Acacia Federal Savings Bank. The online application procedure allows customers to make joint or the usual Proof Of Deposit accounts. Transferring initial deposits can be performed through wire, check deposits and ACH transfers.

The Federal Deposit Insurance Corporation lists Acacia Federal Savings Bank’s stats as $1.387 billion and a total deposit amount of $962 million. BauerFinancial gives the rating of 3 stars while Bankrate.com stamped its report with 1 star.