Why NexBank?
- Top-tier APYAmong the highest rates we track
- $1 to startNo real minimum
- No direct deposit neededEarn the rate on any balance
- MarketplaceCompare other banks in one login
- FDIC insuredThrough the issuing bank
- No feesNo monthly maintenance fee
Overview
NexBank is a Dallas-based bank. Its high-yield savings account is offered through Raisin, a marketplace that lets you open accounts at several partner banks with one login.
Savings only: there is no checking or debit card, so it works best as a place to park money you do not need day to day.
Pricing
What NexBank pays and what it takes to earn the top rate, as of October 7, 2026.
| Plan | As of October 7, 2026 | What you get |
|---|---|---|
| APY | 4.25% | Variable |
| Minimum | $1 | To open |
| Monthly fee | $0 | None |
| Transfers | Free | To your linked bank |
Rates note: APYs and terms are as of October 7, 2026 and are variable. FDIC membership was checked on each bank's own website; FDIC insurance covers up to $250,000 per depositor, per insured bank, per ownership category. Confirm the current rate and terms before you open an account.
Try NexBank for yourself
$1 minimum, no fees.
Key features
- Raisin marketplace: Open and manage accounts at several banks.
- No conditions: No direct deposit or activity rules.
- Linked bank transfers: Move money in and out free.
- FDIC coverage: Deposits held at FDIC-insured banks.
How Raisin works
You open a Raisin account, link your existing bank, and choose savings products from partner banks. Your money is held at the partner bank, which provides FDIC coverage.
Pros and cons
What we like
- Very high APY
- $1 minimum
- No conditions
- No fees
What to watch
- Savings only
- No checking or ATM card
- Transfers take a business day or two
- Rate is variable
Who it is for
Pick NexBank through Raisin if you want the highest straightforward rate on your refund or emergency fund.
Ready to start with NexBank?
Highest rate, no strings.
Alternatives to NexBank
FAQ
Is Raisin safe?
Raisin is a marketplace. Deposits are held at FDIC-insured partner banks.
Do I need direct deposit?
No.
How fast can I withdraw?
Transfers to your linked bank usually take one to two business days.
Show your rating
Are you NexBank? Show your TaxSeason score on your site. Copy this code; the badge links back to this review.
Disclosure: we may earn a commission if you sign up through links marked Sponsored on this page, at no extra cost to you. Scores follow our published method and are not for sale. Read our affiliate disclosure.
Not advice: Rates and terms change often; check the bank's site before you open an account. General information only, not tax, legal or financial advice. Consult a qualified tax professional.