US
Amalgamated Bank full review
This Amalgamated Bank review will show you all about its services so you can decide if it is worth applying for its products. Keep reading to learn about features and costs!
Amalgamated Bank: socially responsible bank in America
If you want to open an account or invest in a socially responsible bank, this Amalgamated Bank review will show you the way!
Unlike other traditional banks, Amalgamated focuses on delivering good products with social responsibility.
How to apply for the Amalgamated Bank?
Learn how to apply for an Amalgamated Bank product and get access to fantastic services with the affordability and flexibility you deserve.
Therefore, you will not only enjoy valuable services but also will feel part of something bigger.
Among the causes it cares about, the bank issues Climate Justice, Immigrant Rights, LGBTQ+ Rights, Anti-Violence & Gun Safety, Criminal Justice, Worker’s Rights, Reproductive Rights, Voting Rights, Racial Justice, and Economic Rights.
How does the Amalgamated Bank work?
As shown before on this Amalgamated Bank review, the bank offers more than just accounts.
Firstly, it is a bank for change-makers. In summary, it cares about a complete range of issues, like Climate Justice, Immigrant Rights, LGBTQ+ Rights, Anti-Violence & Gun Safety, Criminal Justice, Worker’s Rights, Reproductive Rights, Voting Rights, Racial Justice, and Economic Rights.
That’s why it delivers responsible and accessible products and services, as well as commits to being net-zero and powered by renewed energy.
Also, the same way it works in a sustainable and progressive way, it is supported by sustainable organizations and partners.
Secondly, it offers a good range of products and services, although it could improve it by offering a wider scope of credit cards, for example.
Basically, Amalgamated features:
- Personal banking, including checking, savings, CDs, lines of credit, mortgage, and investment products (mutual funds, stocks, insurance, plans for retirement & college savings, and more);
- Commercial banking, such as accounts, cards, and lending & management solutions;
- Institutional investing, including custody services, investment management, and ESG investing.
Today, this review will focus on personal accounts.
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Learn more about it
Each checking account comes with an ATM or Debit Card. And the process to open an account is pretty simple and digital. Also, the same goes for a savings account.
However, although the bank doesn’t charge fees for ATM network transactions, it charges a $10.00 monthly maintenance fee for the Convenience+ Checking, that can be waived with direct deposits.
Other checking options don’t have monthly fees or minimums. And you can earn interest depending on the choice you make.
Moreover, it is important to access the Account Opening Disclosures to find out the main fees associated with accounts.
Shortly, Amalgamated charges fees for Check/ACH items, Wire Transfers, copies of checks or statements, Lost ATM/debit card replacement, and more.
Amalgamated Bank benefits
As can be seen on this Amalgamated Bank review, the bank offers accessible products and sustainable services for change-makers.
Even though some fees apply, you can waive them through direct deposits. Also, fees are relatively low because the bank is designed to offer responsible, sustainable, and accessible products.
Pros
- The bank cares about main issues, which makes it perfect for change-makers consumers;
- All products and services are accessible and affordable;
- Most checking account options allow interest earnings;
- Most checking account options don’t charge monthly fees and don’t require minimums;
- The bank offers a reasonable range of products and services.
Cons
- It could expand the range of products and services offered.
How good does your credit score need to be?
You don’t need a good credit score to open an account. In fact, Amalgamated offers products and services thinking about accessibility and affordability.
How to apply for the Amalgamated Bank?
Now, learn how easy it is to apply for an Amalgamated Bank product. The next post focuses on the accounts (checking and savings options).
How to apply for the Amalgamated Bank?
Learn how to apply for an Amalgamated Bank product and get access to fantastic services with the affordability and flexibility you deserve.
About the author / Aline Augusto
Reviewed by / Aline Barbosa
Senior Editor
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