About Presidential Bank
Presidential Bank was founded in 1985 and is based in Bethesda, Maryland. Presidential Bank was the first bank to offer internet banking in 1995. It currently operates ten branches in the Washington, D.C., area.
Presidential Bank Overview
Presidential Bank is a regional bank that operates ten branches throughout the Washington, D.C. area. It offers fee-free access to the more than 90,000 Allpoint and MoneyPass ATMs nationwide. The bank offers a wide variety of banking products, such as CDs, checking, money market, and savings accounts.
| Competitive APYs on many of its CD products. | Low yields on most non-CD accounts. |
| Large selection of checking accounts. | Many money market and savings accounts require high minimum opening deposits. |
| Most accounts do not assess monthly service charges. | |
| Peer-to-Peet transactions are available via Zelle. | |
| Access to more than 90,000 Allpoint and MoneyPass ATMs nationwide. |
Presidential Bank Product Offerings
CDs
A certificate of deposit (CD) is a form of savings account that pays a fixed interest rate on the money in the account for a certain period, known as a term. Presidential Bank offers several CDs with terms varying from one month up to five years. The CDs with the highest APYs range from six months to one year and all have relatively high early withdrawal penalties, which is something important to consider before opening a CD account. Here are some of their best CD offerings for May 2025:
Checking Accounts
Presidential Bank offers several different personal checking accounts. Most of the checking accounts offer APYs below the national average of 0.01% for checking accounts. All accounts have a low or no monthly service charge that can be easily waived with a relatively low average daily balance, and all have no minimum opening deposit requirement. Here are the latest account details for May 2025:
Money Market Accounts
A money market account is an interest-bearing hybrid between a savings account and a checking account. Presidential Bank offers a few money market accounts. The accounts feature free checks and a debit card. Here are the account details for May 2025:
Savings Accounts
A savings account is a type of bank account that allows you to save your money while earning interest. Presidential Bank offers two savings accounts with varying opening deposit requirements. Both have no monthly service charges. Here are the latest savings account details for May 2025:
Bank Fees
Overdraft fee: $25
Savings and Money Market Account withdrawal fee: None
Account closure fee: $5
Wire transfer fee: Domestic - Incoming is $0 and outgoing is $20; International - Incoming is $0 and outgoing is $45(U.S. Currently), $25(Foreign Currently)
Non-network ATM fee: $3.50
Monthly service charge: $0-$25 depending on the type of account
Stop payment fee: $10-$32
Paper statement fee: $0
Presidential Bank Features
Presidential Bank's customer service line is available Monday through Friday from 8 a.m. to 10 p.m. EST. The bank offers an automated telephone line that is available 24 hours a day, 7 days a week, for basic account information and changes. Customers have fee-free access to the more than 90,000 Allpoint and MoneyPass ATMs nationwide. The bank also offers a mobile app for Peer-to-Peer transactions via Zelle to process transactions and manage your bank account.
Presidential Bank FAQs
Our Take
Presidential Bank is a regional bank that operates ten branches within the Washington, D.C. area. It offers a wide range of banking products, and for added convenience, it offers fee-free access to more than 90,000 Allpoint and MoneyPass ATMs nationwide. The bank offers a competitive APY on one of its checking accounts and its mid-term CD accounts. Although it is a good option for residents of the Washington, D.C. area, the bank also allows anyone to open an account online.
Methodology
Our editorial staff continually updates the information contained on our website. Our editorial staff has analyzed virtually all of the banks and credit unions that it follows, and it does weekly rate analysis for more than 250 prominent banks and credit unions. These institutions were chosen because they provide competitive APYs, low fees, and other factors we find important. These banks and credit unions often provide accounts that are available nationally. All of these banks are FDIC-insured, and all of these credit unions are NCUA-insured. Choosing an FDIC-insured bank or an NCUA-backed credit union assures that your money is protected as long as it stays within insurance limits and requirements.