Build Your Emergency Fund with The Raisin Platform
By: Conor Keenan | Last updated: April 03, 2026
Conor Keenan, AWMA®, is the Co-Founder of CompareAccounts. An Accredited Wealth Management Advisor™ professional with over a decade of experience covering consumer banking and investing trends, his work has appeared in The Wall Street Journal, Reuters, and Yahoo Finance.
Editorial Independence: Our opinions, reviews, and recommendations are our own. Partner commissions keep our site free, but our content remains independent.
WIth the Raisin platform, you can fund deposit products offered by 75+ federally regulated banks and credit unions with a wide range of maturities and APYs (annual percentage yield), allowing you to build a savings strategy to suit your earning and liquidity needs, all from a single secure login. See a higher rate on the Raisin network? Easily move the money. Accounts are federally insured up to $250,000 per depositor, access your funds 24/7 and support is just a call or email away.
Main Benefits You Get with NexBank High Yield Savings Account
Competitive APY:
NexBank offers a competitive APY exclusively through the Raisin Platform on their high yield savings account.
Low minimum balance requirement:
Anyone with $1 can open a NexBank high yield savings account through the Raisin Platform. This minimum balance is much lower than some other savings accounts that can charge you up to $5,000 or more to open an account.
No monthly maintenance fee:
In addition to this high APY & low minimum balance requirement, NexBank offers $0 monthly maintenance fees & unlimited withdrawals.
Customer service:
NexBank has partnered with Raisin to bring it’s first-class savings account to more Americans. Raisin has a supportive, accessible, and responsive customer service team based in New York, NY.
FDIC insured:
NexBank is federally insured by the FDIC. This covers you for as much as $250,000 per depositor in the event of a bank failure. This means that if you have a joint account, you’ll enjoy up to $500,000 federally insured.
Trusted History:
NexBank was first chartered in 1922 and has grown to be the largest privately-held bank in Texas with assets totaling $16 billion.
NexBank has been a trusted banking partner for more than 100 years and is focused on helping its customers grow and protect their savings for future generations.
These features plus the sky high APY make this account a rare offer.
Open Your New Account with NexBankTM Now
NexBankTM High-Yield Savings Account: 4.04% APY
Customers Also Viewed These High-Yield Savings Accounts From Our Partners
While NexBank’s high-yield savings account is a compelling choice, it’s crucial to consider other options as well. Different banks offer various features and benefits, and exploring these alternatives can help you find the best fit for your financial needs.
APY
3.20%
Annual Percentage Yield (APY)
- High Yield Savings Account
- Min. to Earn APY: $0
- Min. to Open2: $0
- 3.20% APY1
- APY as of April 03, 2026
- Interest Compounded Daily
- $0 Monthly Fees
- 24/7 Customer Service
- FDIC Insured up to $250,000
- Backed by the Service & Reliability of American Express
- Terms Applyⓘ
- See Site for Details
Terms Disclosure:
1. The Annual Percentage Yield (APY) as advertised is accurate as of April 03, 2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded
2. There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
3. iOS and Android only. See app store listings for operating system info.
4. For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
On American Express National Bank's Secure Site, Member FDIC
APY
3.20%
Annual Percentage Yield (APY)
- High Yield Savings Account
- Min. to Earn APY: $0
- Min. to Open2: $0
- 3.20% APY1
- APY as of April 03, 2026
- Interest Compounded Daily
- $0 Monthly Fees
- 24/7 Customer Service
- FDIC Insured up to $250,000
- Backed by the Service & Reliability of American Express
- Terms Applyⓘ
- See Site for Details
Terms Disclosure:
1. The Annual Percentage Yield (APY) as advertised is accurate as of April 03, 2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded
2. There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
3. iOS and Android only. See app store listings for operating system info.
4. For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
On American Express National Bank's Secure Site, Member FDIC
Up to $400 Bonus
up to APY
4.00%
Annual Percentage Yield (APY)
- Checking & Savings Account
- Min. to Open: $0
- Bonus: up to $400 with Direct Depositⓘ
- Up to 4.00% APY on Savings Balances with Qualifying Activities
- $0 Monthly Fees
- FDIC Insured up to $250,000
- Earn $50 or $400 with direct deposit, terms apply
- Limited Time Offer: +0.70% Boost to 4.00% APY for up to 6 Months on New Accounts with Eligible Direct Deposit.
- Terms Applyⓘ
- See Site for Details
1. Up to $400 Bonus Tiered Disclosure
Up to $400 Bonus Tiered Disclosure New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25 There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms See list of participating banks at SoFi.com/banking/fdic/receivingbanks
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees
may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings
account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member
FDIC.
On SoFi's Secure Site,
Member FDIC
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
NexBankTM High-Yield Savings Account: 4.04% APY
American Express® High Yield Savings Account: 3.20% APY as of April 03, 2026
American Express® High Yield Savings Account: 3.20% APY as of April 03, 2026
SoFi® Checking and Savings: 4.00% APY & Earn up to $400 with qualifying activities
NexBank High Yield Savings Account, Powered by Raisin
NexBank uses the secure Raisin platform to offer savings products like their high yield savings account to savers nationwide. Historically a regional bank, this partnerships allows NexBank the ability to offer its high APY to more savvy savers.
Customers open accounts at Raisin.com, and the platform manages all aspects of the products offered by NexBank, including a customer’s deposits and withdrawals, statements and any customer service needs.
In simple terms, Raisin provides you exclusive access to a special selection of NexBank products. Best of all, Raisin is completely free!
Security: Funds deposited into any of the products accessible through Raisin are held by federally insured institutions. They use a host of cybersecurity & bank level protection measures to protect your funds and sensitive information.
Choice: Savings products from the Raisin network of financial institutions offer flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.
Convenience: One account to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.
Service: A supportive, accessible, and responsive customer service team based in New York, NY, sets Raisin apart.
Access: Enjoy 24/7 online access to your account and funds.
How to Open a High Yield Savings Account with NexBank
The process of opening a high yield savings account with NexBank is straightforward and can be completed entirely online. Here are the steps:
- Register for an account with Raisin.com, the platform that manages NexBank’s high-yield savings accounts. You will need to provide your personal information, including name, date of birth, physical address, email address, Social Security number, and phone number.
- Select the NexBank High-Yield Savings Account and make a minimum deposit of $1 to open it.
- Connect an existing account to transfer funds electronically.
Once you’ve completed these steps, you’ll start earning interest on your savings from day one.
Raisin Contact Information:
Phone Number: 844-994-EARN (3276)
(Monday to Friday from 9:00 a.m – 4:00 p.m)
Email Address: support.us@raisin.com
Address:
85 Broad Street
New York, NY 10004
NexBank FAQ
Is NexBank Legit?
Yes, Nexbank is a legit bank. NexBank was first chartered in 1922 and has grown to be the largest privately-held bank in Texas with assets totaling $16 billion.
Assets are federally insured up to $250,000 per depositor.
is Nexbank FDIC Insured?
Yes, your NexBank Account on the Raisin platform is FDIC insured for up to $250,000 per depositor.
Conclusion of NexBankTM Savings Account Review
NexBank has a long history of serving the local community. In a changing environment, banks must adapt to stay relevant and competitive. NexBank partnership with Raisin illustrates its innovative spirit.
They’re a customer-focused bank that’s building better customer experiences for the digital era and helping their customers save more money and earn higher APYs than what traditional banks offer.
*National Savings Rate Average as published by FDIC