Ameris Bank Review

Ameris Bank Savings

0.00% APY

Ameris Bank is headquartered in Moultrie, Georgia. However, it runs several full-service branches throughout Georgia, South Carolina, Florida and Alabama. But despite its regional focus, you can find the same kinds of products you’d expect to see at a major national bank. 

Ameris offers several deposit accounts including checking, savings and certificate of deposit (CD) options as well as individual retirement accounts (IRAs). And although you won’t access the best savings accounts at Ameris, its CDs currently generate decent rates. In addition, the bank allows for several ways you can avoid monthly fees on your accounts and keep more money in your pocket. Plus, Ameris provides different lending products including ones designed for financing homes and others directed at businesses in specific industries. 

Furthermore, the bank’s digital tools and features such as savings calculators can help you manage your money with ease. 

Products Offered

Ameris Bank Interest Rate Comparison

Ameris Bank Overview

Ameris Bank first opened its doors in 1971. Since then, Ameris has held strong ties to the communities it serves. In fact, Ameris donated more than $800,000 in 2017 to support philanthropic initiatives throughout the areas where it operates. It also gathered more than 900,000 nonperishable food items during its 8th annual Helping Fight Hunger initiative. 

Overall, you can access virtually any banking product you’d find at a large national bank at Ameris. Several of these options are also inexpensive and easy to manage.

Bank Account Features 

Ameris Bank offers multiple bank account options designed for different types of people. So whether you’re looking for a bare-bones account or a high-yield CD, Ameris has you covered. In several cases, the bank will waive monthly fees if you stick to certain minimum balance requirements. 

Regular Savings

You can open a Regular Savings account at Ameris Bank or online with a $100 minimum deposit. eStatements are free. Or, you can get paper statements for $2 each. The charge will be deducted from the associated account. 

Plus, the bank will waive its $11 quarterly fee as long as you keep at least $300 in the account. However, the Regular Savings account’s peak APY is a low 0.50%. The rate doesn’t climb side by side with the best online high-yield savings accounts in the market today.

In addition, Ameris Bank charges $10 for each debit transaction exceeding six each quarterly statement. This rule is unrelated to federal regulations, which limit most types of savings and money market account transfers to six per statement cycle. 

Still, you get basic online and mobile banking features with this product.

Personal Money Market 

You need a larger minimum deposit of $2,500 to open a Personal Money Market (MMA) account at Ameris Bank. However, it does generate an impressive peak APY that currently stands at 1.85%. That rate is quite rare for a standard money market account at a brick-and-mortar bank that also provides face-to-face customer service. 

In addition, Ameris Bank will waive the $12 monthly account price when you keep at least $1,000 in your account. The same applies if you keep an average daily balance of $3,000. And you’ll face a $10 fee for each transaction you make exceeding six per statement cycle.

Minor Savings

Ameris Bank offers a very simple and inexpensive savings account designed to help children under the age of 19 develop a good savings habit early on. You can open one for your child at no charge. The account also bares no monthly service charge. However, you can open this account only by visiting a local branch. You can look up the nearest branch by visiting the bank’s website. 

Certificates of Deposit (CD)

Ameris Bank offers some CD accounts with terms among some of the best CD rates we’ve analyzed in the market today. However, you’d have to open your CD online to get the highest APYs.

And as with most banks, you’ll get the best rates when you open CDs for longer terms. But you might benefit from opening multiple CDs and creating a CD ladder to build emergency funds. However, keep in mind that taking money out your CD before its term ends triggers an early withdrawal penalty. The severity of it depends on your term length and the point at which you make the early withdrawal. But it’s always a good idea to avoid taking this action. 

Each CD offered by Ameris Bank automatically renews at the end of its term to the same length and current rate unless you instruct the bank otherwise. And you can access your CDs details online or via the bank’s mobile app. 

Individual Retirement Accounts (IRAs)

You can open an individual retirement account (IRA) with Ameris Bank with a low minimum deposit of $100. The bank offers IRAs for one-year and two-year terms. You have the option to renew your IRA at the end of its term. 

Ameris Bank also gives you the choice to choose from a traditional IRA or a Roth IRA. When you invest in a traditional IRA, you defer taxes until you make qualified withdrawals at least at age 59.5. This means you fund the account with after-tax dollars, and your money grows tax-free until you take it out. By opening a Roth IRA, however, your qualified withdrawals may be tax-free. This option can suit those who believe they will find themselves in a higher tax bracket during their golden years.

But any time you’re making a serious retirement planning decision, you may want to find a financial advisor.

Benefits Checking

Ameris Bank offers three checking accounts. One of the simpler ones you can open is the Benefits Checking version. The bank gives one chance to shrink the $8 monthly service charge if you enroll in online statements, at which point it would drop to $6. You can open an account with at least $50. 

You get access to all of the Ameris online and mobile banking features with this account. In addition, the bank offers additional benefits to account holders at least 62 years of age. If you need checks and are 62 or older, you'll receive them for free.

Interest Checking Account

The Interest Checking account may suit those with strong relationships at Ameris Bank. The bank will waive the $20 monthly fee if you have at least $10,000 across all of your Ameris accounts. 

In addition, Advantage Checking account holders get the following free of charge:

• ATM fee reimbursements at any machine nationwide
• Option to increase your Ameris CD rate once during the term of your CD
• Wallet-style checks
• Official checks
• Increased $5,000 daily debit card limit

Free Checking Account

Free Checking lives up to its name. It’s the simplest account you can open with Ameris. And it provides the peace of mind that comes with not having to worry about monthly fees or minimum balance requirements. You still get access to all the online and mobile banking features. But when it comes to simplicity, this stands among the best checking accounts we’ve examined. 

Where Can I Find Ameris Bank? 

You can find full-service Ameris Bank branches scattered throughout Georgia, Alabama, Florida, and South Carolina. The easiest way to find a local branch is to visit the bank’s website and enter your zip code in the appropriate field. 

What Can You Do Online With Ameris Bank?

Ameris Bank goes a step beyond even large national banks when it comes to digital tools and features. You can visit its website and find savings calculators, budgeting tools, and other resources designed to help you manage your money and even defend yourself against cybersecurity threats. It also offers the standard online, mobile and text banking components that have become standard in the banking industry. 

You can check balances, review transaction history, transfer funds, pay bills and more online. Furthermore, you can also download statements into Microsoft Money, Quicken and other personal finance software. 

The Ameris mobile app lets you easily find Ameris Bank and ATM locations. It’s also compatible with mobile bill pay features. You can also quickly request account information such as transaction history via text.  

How Do I Access My Money?

You can access your money fee-free at any Ameris Bank branch or ATM found in more than four Southern states. Account information and digital features can also be found via the bank’s online, mobile and text banking platforms.  

How Can I Save More Money With a Ameris Bank Account?

As far as the bank’s saving options go, their highest-yield accounts are CDs. Your best bet is to open one online as this will earn you the best current rates. In addition, the bank’s website offers several tools, resources and content to do everything from developing a budget to start saving for different goals and planning for retirement. 

What’s the Process for Opening an Account With Ameris Bank?

The simplest way to open an account with Ameris Bank is online. You’ll need basic information like your Social Security and state ID numbers. It’s also a good idea to have banking and routing numbers at hand if you’re funding an account with one from a different financial institution. 

What’s the Catch? 

The catch with Ameris Bank—if any— is that you won’t necessarily find basic savings accounts with the best rates. But the bank’s money market and CD accounts generate descent APYs. However, they require larger opening deposits than your standard savings or checking accounts. Still, the bank offers very inexpensive checking and savings options and allows you to avoid fees as long as you meet some simple tasks. 

Bottom Line 

Ameris Bank holds a decent footprint in the South. However, the bank is very committed to providing personalized customer service with a community bank feel. In addition, you can find all kinds of deposit accounts ranging from basic checking accounts to high-yield CDs and IRAs. You can also find lending options from personal loans to residential financing and industry-focused loans for businesses. The bank’s mobile and online offerings can also help you manage your finances via comfortable user experience.

The preceding rates were gathered following a call to Ameris Bank in Moultrie, Georgia. They are current as of August 2018.