Abstract: Primis Financial institution is a monetary establishment that mixes the power of an FDIC-insured financial institution with the innovation of a fintech firm. It provides private and enterprise deposit accounts, mortgages, loans, and features of credit score. The financial institution was based in 2005 and primarily serves clients on-line. Nonetheless, it has bodily branches in Virginia and Maryland.
Primis Financial institution’s Premium Checking account is a free checking account with a excessive yield. It pays 4.05% APY and has no minimal steadiness. The minimal opening deposit for this account is simply $1.
As well as, this account has minimal charges, charging no month-to-month account charges or overdraft charges. You even have free nationwide ATM entry, with all non-Primis ATM charges refunded on the finish of every billing cycle.
This account has a lot of the identical advantages because the Premium Checking account. The primary distinction is that it earns rewards on each debit card buy as an alternative of curiosity. Each time you utilize your debit card, you earn a flat $0.50, which is paid into your account.
Primis Financial institution additionally provides a high-yield financial savings account with a aggressive 4.2% APY. It has most of the identical advantages because the financial institution’s checking accounts, reminiscent of no month-to-month charges or minimal balances. As well as, it has the identical $1 minimal opening deposit.
Learn extra: Financial savings accounts with rates of interest of 4% APY and better (up to date weekly)
Primis usually retains charges low; you’ll be able to be taught extra about particular account charges in every account’s disclosure paperwork. The next desk highlights widespread charges that Primis Financial institution expenses for sure providers.
Think about these execs and cons earlier than opening an account with Primis Financial institution:
Professionals
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Aggressive deposit rates of interest: Primis Financial institution’s Premium checking account pays a formidable 4.05% APY, whereas the financial savings account pays barely extra at 4.2% APY. These charges are extremely aggressive for as we speak’s market.
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No month-to-month charges: This financial institution expenses no month-to-month charges on any of its deposit accounts.
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Free nationwide ATM entry: You could have fee-free entry to ATMs nationwide. Any charges you incur are reimbursed on the finish of every billing cycle.
Cons
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Restricted department entry: Primis Financial institution has a number of branches in its dwelling state of Virginia, in addition to Maryland. Nonetheless, it doesn’t have a bodily presence in different states. This can be a draw back for individuals who want in-person service.
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No CDs or cash market accounts: CDs generally pay larger charges than financial savings accounts, however Primis doesn’t supply them. The identical is true for cash market accounts, which provide some options of each checking and financial savings accounts.
You will get in contact with Primis Financial institution through cellphone or electronic mail, along with a contact type on the financial institution’s web site. It additionally has a chat function, which helps you to talk by typing or talking. The financial institution says its buyer assist quantity is on the market 24/7.
Primis Financial institution has apps out there on iOS and Android, with common consumer scores of 4.7 stars and 4.4 stars, respectively. The app helps you to examine account balances, see spending patterns, switch cash between accounts, and deposit checks.
The overall buyer assist quantity for Primis Financial institution is 833-477-4647.
Primis Financial institution’s mailing deal with is:
Primis
P.O. Field 2075
Ashland, VA 23005
Sure, Primis Financial institution is FDIC-insured. In truth, it provides prolonged FDIC protection, insuring as much as $2 million per tax ID.
Primis Financial institution’s routing quantity is 051409278.
Primis Financial institution is comparatively small, with $3.9 billion in whole property as of June 30, 2025.
Primis Financial institution was based in 2005.
Primis Financial institution was beforehand often called Sonabank. The financial institution introduced that it could rebrand to Primis Financial institution in 2021.
