NexBank | High Yield Savings Account Review

NexBank offers high-yield savings accounts nationwide through the Raisin platform, providing competitive interest rates and a fully online account experience. With more than 100 years in banking and $14 billion in assets, it is the largest privately held bank in Texas. Accounts are opened and managed entirely through Raisin, giving customers secure online access to savings products backed by NexBank’s FDIC insurance.

Pros

• High APY compared with national average
• $1 minimum deposit requirement
• No fees from Raisin
• 24/7 online account access

Cons

• Accounts opened and serviced exclusively through Raisin platform
• Limited product options compared with full-service banks

$$$ High-Interest Savings: For more competitive rates, check out the 4.31% APY NexBank High-Yield Savings Account. (Rates accurate at the time of writing).

Highlights

1. Savings accounts opened and managed through Raisin’s SOC 2–certified platform
2. Daily interest compounding with monthly posting — a standard setup that means interest is calculated on your balance each day and then added to your account once a month
3. Secure online account management with multi-factor authentication and encryption
4. Transfers typically completed within one to three business days
5. FDIC insurance coverage through NexBank

How Does NexBank Work?

NexBank’s high-yield savings products are offered only through the Raisin platform. Customers choose a product, open the account online, and manage deposits, withdrawals, and statements within Raisin’s secure system. All deposits are FDIC-insured through NexBank.

New customers may be eligible for a limited-time cash bonus by using a promotion code and meeting deposit and balance requirements. Funds can be transferred in or out at any time, with transactions typically completed in one to three business days.

Final Thoughts

NexBank provides a straightforward way to earn higher interest on savings through a secure online platform. While account access and management are handled entirely through Raisin, customers benefit from competitive rates, low entry requirements, and the security of FDIC insurance.