Best Coast Capital Savings Accounts - Comparewise

Best Coast Capital Savings Accounts

Coast Capital Savings account is a financial service that Coast Capital Savings offers. Coast Capital is a credit union in Canada. The credit union does more than offer savings accounts. It also has a wide range of customer services, including chequing accounts and investment options.

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Last Updated: Sep 24, 2023

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Coast Capital The High-Interest Savings Account

$0
Monthly Fees
1.60%
Interest Rate
  • No monthly fee
  • 1.60% interest rate
  • 2 free monthly transactions
Pros & Cons
Extra Details

Best Coast Capital Savings Accounts

Coast Capital savings account is one of the financial services Coast Capital offers. With a Coast Capital Savings account, you can earn up to 1.60% interest without expensive monthly fees. It also ensures that you never run into a financial crisis by providing a flexible way to manage your finances.

Coast Capital Savings is a credit union in Canada that has existed since 1940. They are committed to helping their members achieve financial well-being through their savings accounts and other financial products.

What is a Coast Capital savings account?

Coast Capital Savings is a Canadian credit union that offers savings accounts. One of Canada’s largest credit unions, it has over 50 branches and over 500,000 customers. The full-service financial institution provides its customers with banking, investing, and other financial services.

Coast Capital Savings Account is a basic savings account offered by Coast Capital Savings. People who want to put money away and earn interest on it can open this account. It has no monthly fee and offers competitive interest rates. It comes with a debit card that allows you to access funds at any ATM that accepts Interac debit cards.

Coast Capital offers savings accounts tailored to meet customers’ needs at various ages and stages. Whether you’re saving for a rainy day or a specific goal, Coast Capital Savings offers to manage your finances conveniently. These options include competitive interest rates and mobile banking options.

Features of a Coast Capital savings account

Here are the features you’d find in a Coast Capital savings account.

Low Monthly Fees

A Coast Capital savings account ensures you can earn 1.60% interest without paying expensive monthly fees. In addition, you have access to two free monthly transactions, and receiving e-transfers is free. You do not need to lock away your savings for you to get returns on your deposit.

Deposit-on-the-go

With the Coast Savings Capital mobile app, you can deposit your cheques anytime, anywhere.

Coast Mobile Banking App

Coast Capital Savings offers online banking, which means you can manage your account from anywhere, at any time. With your Coast Capital Savings account, you can easily check for transaction history and balances. You can also complete inter-account transfers with ease.

Best Coast Capital Savings Accounts - Comparewise 1

How to open a Coast Capital savings account

Opening a Coast Capital savings account is stress-free; there are two processes you can use. The first is visiting a branch near you. If that isn’t convenient, you can open an account online through the Coast Capital website.

Opening an Account Online

You can open a Coast Capital savings account online from the comfort of your home with the few steps below:

  • Visit the Coast Capital Savings website at www.coastcapitalsavings.com.
  • On the homepage, click on the “Join Now” button to begin the account opening process.
  • Follow the prompts and provide all the required information.
  • Review your application details, then click “Submit” to complete your application.
  • Once your application is submitted, it will be reviewed. You will then receive an email confirmation once your account has been approved and activated.

Opening an Account in Person

Opening a Coast Capital Savings Account in person is a great option if you prefer face-to-face interactions. Keep in mind that branch hours may vary, so check the website for hours of operation before visiting. Here are the steps you can follow:

  • Locate a Coast Capital Savings branch near you by visiting their website.
  • When you visit the branch, make sure to bring two pieces of identification, including one government-issued ID, such as a driver’s license or passport.
  • When you arrive at the branch, let the representative know that you’re interested in opening a savings account. They will guide you through the process and answer any questions you may have.

Pros and cons of Coast Capital savings accounts

Pros of Coast Capital savings accounts

  • Opening a Coast Capital Savings Account is easy and can be done online or at one of their branches. You’ll need to provide some basic personal information and a valid government-issued ID.
  • As mentioned earlier, there are no monthly fees associated with Coast Capital Savings Account.
  • The interest rates offered by Coast Capital Savings Account are higher than what you would get from a traditional bank.
  • With the included debit card, you can access your funds at any ATM that accepts Interac debit cards.
  • You can make an unlimited number of transactions with Coast Capital Savings Account without any additional fees.

Cons Coast Capital savings accounts

While Coast Capital Savings Account offers many benefits and features, there are some cons to consider before opening an account. Here are some potential drawbacks to keep in mind:

  • Coast Capital Savings has a limited number of branches compared to traditional banks, which may not be convenient for everyone.
  • Coast Capital Savings does not offer physical cheques with their savings account.
  • To earn interest on your Coast Capital Savings Account, you need to maintain a minimum balance. This may not be feasible for everyone, especially if you’re just starting to save.
  • Coast Capital Savings is a credit union, which means you need to meet certain membership requirements to open an account. This may include living or working in specific areas or being affiliated with certain organizations.

Alternatives to Coast Capital savings accounts

Coast Capital savings account has a lot of benefits and features that it provides. However, they are not the only financial institution that offers such benefits. Below are a few alternatives:

Simplii Financial Savings Account

Simplii Financial’s rates tend to be slightly higher than Coast Capital Savings. Also, unlike Coast Capital, Simplii has no monthly fees or transaction fees. However, while Coast Capital has a limited number of physical branches, Simplii is strictly online.

RBC Financial Savings Account

RBC has a large network of physical branches and ATMs across Canada. On the other hand, Coast Capital Savings has a limited number of branches, but it offers online banking. RBC might be the better option if you prefer in-person banking and access to physical branches.

Both RBC and Coast Capital offer savings accounts that pay interest, but the interest rates offered by Coast Capital tend to be higher.

Best Coast Capital savings accounts conclusion

Coast Capital Savings Account offers unlimited transactions and high-interest rates. If you want to get smart with your money by collecting interest on your savings, you should consider opening an account with Coast Capital.

This bank has already made the account opening process a breeze with its online portal, allowing you to get started from anywhere. You can also walk into any of their branches to get a savings account set up.

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FAQs about the best Coast Capital savings accounts

What Savings Accounts Does Coast Capital Have?

Some of the savings accounts that Coast Capital Savings provide include Coast Capital High-Interest Savings Account and Youth Savings Account. Others are US Personal Accounts, Business Savings Accounts, Registered Retirement Savings Plans (RRSP), and Tax-Free Savings Accounts (TFSA).

What Is the Coast Capital Savings Account Minimum Balance?

Coast Capital savings account offers up to 1.60% savings account interest rate.

What is the Coast Capital Savings Account Interest Rate?

You can either open an account online or in person. To open online, visit the Coast Capital Savings Account website. To open in person, find the Coast Capital branch closest to you.

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