BankProv, a technology-driven commercial bank, announced a countrywide relationship with MaxMyInterest (Max) on March 1, 2023, to provide its customers and members with an easy-to-open, high-interest savings account.
BankProv Max Savings will be available solely on Max with no minimum balance. Besides, customers will get higher savings rates, more comprehensive deposit insurance, the ability to move cash with a single click, and simplified tax reporting.
Joe Reilly, Co-CEO of BankProv, expressed, "We're excited to work with Max, a company that shares our passion for providing a superior client experience." He continued, "From quickly opening an account to maximizing returns on deposit balances, the BankProv Max Savings account on the MaxMyInterest platform will further enhance the banking experience for our clients. We believe our partnership with Max will provide benefits as more consumers continue to seek digital banking options and keep a closer eye on interest rates."
(Source – Cision PR Newswire)
Gary Zimmerman, Founder and CEO of MaxMyInterest, added, "We are proud to partner with BankProv, an innovative bank that has a long history of serving clients in Massachusetts and across the country." "Together with BankProv, we can help clients ensure that all of their funds remain fully-insured, while earning market-leading rates," he concluded.
(Source – Cision PR Newswire)
With FDIC protecting $250,000 and DIF covering the rest, BankProv can offer 100% deposit insurance. In addition, Max members can now open a BankProv FDIC and DIF-insured savings account linked to their checking account.
About BankProv
BankProv, a subsidiary of Provident Bancorp, Inc., is a future-ready commercial bank that offers a wide range of corporate banking solutions. Its specialty is technology-driven banking solutions for specialist industries, including mortgage warehouse lending, renewable energy, fintech, and enterprise value lending. Based in Amesbury (Massachusetts), it's the nation's tenth-oldest bank. Federal Deposit Insurance Corporation (FDIC) and Depositors Insurance Fund (DIF) protect all deposits at the bank.