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Account TypeAPYAccount NameMinMax
Checking1.50%EarnMore Interest Checking Account-$250kDetails »

Overview / Commentary
601 West Market Street
Louisville, KY 40202

MemoryBank, a EpBooks.us advertiser, is a new online banking platform that launched in the fall of 2016. The bank features one headliner product - its EarnMore Interest Checking Account. This account is a compelling hybrid between a reward checking account (RCA) and a standard personal checking account.

Like other reward checking accounts, you must meet a few basic requirements to earn the top APY, though the EarnMore account's requirements are lighter than most RCAs. Furthermore, unlike typical RCAs, the EarnMore account allows you to earn a high rate on balances up to $250K. Some other banks offer a higher rate on their RCAs, but these accounts typically carry with them more stringent monthly requirements and also much lower balance caps for the top rates - often between only $5,000 - $20,000. So, in this sense, the EarnMore account is more comparable to a standard personal checking account. In the regular checking category, the first year bonus APY of 1.50% and ongoing rate of 1.00% blows away the competition. The first year APY is also higher than any of the top nationally available 1-Year CD rates and all but a select few 2-Year CD rates. So, short term CD investors may also find the account appealing.

In addition to offering competitive yields, MemoryBank has the distinction of an online platform with national availability, to go along with an extensive ATM network of over 85,000 ATMs. It also allows customers to use non-network ATMs at no charge, although it does not reimburse fees charged by the bank who owns the ATM. Also, like most online banks, MemoryBank does not charge customers any monthly fees, and the EarnMore Account has no minimum balance requirements.

Deposits at MemoryBank are held and FDIC-insured by its parent bank, Republic Bank and Trust Company of Louisville, KY.

Related Posts

MemoryBank’s Internet Checking Account with a First-Year 1.50% APY - 1/24/2017

Republic Bank & Trust Company recently launched an internet bank called MemoryBank with an internet checking account called the EarnMore Acccount.

Reviews (7)

Excellent New Bank

Posted by: mrvirgo | Apr 21, 2017

I am very favorably impressed by Memory Bank.
Friday, April 14, 2017 funded account with credit card which was instantly
opened subject to approval
Monday, April 17 account approved giving me online access to all features
The website is very easy to navigate and user friendly; there's even a
tally of interest earned each day of the month
Wednesday April 19 3 free paper checks arrive
Friday April 21 ATM debit card arrives. Activated and selected PIN
of my choice with the same call
Friday swiped card at a supermarket showed up in account as debit
I have made several calls to the phone support and the reps have all be very knowledgeable, friendly and have answered my questions to my satisfaction.
They speak American English which is a plus.
I linked my account to Mint and it worked perfectly.
If you are looking for a liquid account with a bank that seems to go the extra mile, try Memory Bank.

Nice Online Bank

My experience with MemoryBank has been one that has worked quite wonderfully. I don't need to visit a branch so having an online only bank is perfect. My paycheck gets directly deposited and I have availability of my funds just the same as when I used the local brick and mortar bank. I would recommended Memory Bank to anyone looking for a simple easy way to bank. I did have to call one time and work thru an issue with one of my checks that hadn't cleared and I was concerned that it was lost. The person I spoke with was very professional and put my mind at ease by following up on it and letting me know the outcome.

New Bank for online transactions

I just opened a "Interest Checking Account" with MemoryBank online, It is something I really want to do, because it is important for me separate what I buy on line. The service custumer was really good, I dont have nothing bad to say about it. It is a easy way to transfer money. I liked to open an "Interest Checking Account" because It allows me to enjoy free checking with free ATMs and earning a good interest. They have many benefits, you are able to do everything from your smart phone, It is really easy to use the app.

Good bank for online transactions

I recently opened a checking account with MemoryBank online because I wanted a separate banking account for all of my online purchasing. I was impressed with the customer service. It only took about 15 minutes to get my account set up. It's also very easy to transfer money from my local credit union to memory bank. This works perfectly for my online business transactions and the interest rates are much better than a standard bank.

Ignore The Rate, It's A Waste Of Time

I applied to 5 different online banks with similar rates to this. This bank's application process by far took the longest to process...an entire week...while other banks had me set up and my account funded within 2-3 days. I tried to login with my created account and password several times over the week and it always gave me problems that it didn't recognize my username/password. I know the username/password combination I was using wasn't wrong. The website is terrible. And then after waiting a week, I got an email saying I was denied as an applicant without being given a reason. I own an $800,000 home free and clear, have an annual income that fluctuates but hovers around 100k, a credit score over 800, and have liquid assets of over one million. They have no reason to deny me. They just don't want to pay the 1.5% rate to those with large amounts of cash yet they're happy to take all your personal information in the process like your SSN and linked account/routing number. Seems like a phishing scheme to me. Very sketchy bank. Highly unrecommend even if you get a slightly lower rate elsewhere it's not worth the stress of dealing with this joke of an institution.


I would give 0 stars if I could... Highly unreliable website, customer service, etc. Account opening took 14 days.. wow.. I closed right after as then money transfer or bill pay wouldnt work.. Feels like these guys are not close to being ready for online banking as everything with them is still extremely buggy. Go elsewhere and dont let the rates fool you..

Unreliable Application Process - Don't Waste Your Time

Posted by: mrmeyer1 | Jun 28, 2017

Application fails if there is any issue accessing your credit at one of the credit bureaus.. The credit bureau they used today was having issues with their secret question dialog which I verified through customer service at the credit bureau so the bank could not complete the credit check even though the answers to the questions are correct. Once the process fails you are locked out from re-applying for 1 month. What a waste of time! At least their customer service was polite and tried to be helpful, but they have no control of the broken process.


Health Grade Components

FDIC Certificate #23627
Year Established1982
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.25%
Return on Equity - YTD10.83%
Annual Interest Income$108.6MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$4.95B$4.64B
LoansQ2 2017vs Q2 2016$3.89B$3.76B
DepositsQ2 2017vs Q2 2016$3.23B$2.96B
Equity CapitalQ2 2017vs Q2 2016$563.9MM$533.8MM
Loan Loss AllowanceQ2 2017vs Q2 2016$37.9MM$29.3MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$15.8MM$20.0MM
Real Estate OwnedQ2 2017vs Q2 2016$300.00K$1.5MM
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*APY shown includes first year bonus of 0.50% APY

MemoryBank Checking Account Rates

1.50%*-$250kEarnMore Interest Checking Account
OTHER TIERS: 0.05% $250k+

MemoryBank is an Internet only bank and does not have branch locations. Its headquarters is located at 601 West Market Street - Louisville, KY 40202