Ivy Bank review 2025: Top-tier savings account APY

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Frequently asked questions

What is the maximum balance allowed in an Ivy Bank savings account?

The maximum balance allowed in an Ivy Bank savings account is $1 million.

Who is eligible to open an Ivy Bank account?

Any U.S. resident age 18 or older can apply for an account with Ivy Bank. The only exception is California residents and those in U.S. territories (aside from the District of Columbia), who are not eligible.

What is the minimum deposit required to open an Ivy Bank savings account? 

The minimum deposit to open an Ivy Bank savings account is $2,500.

Can I withdraw cash from ATMs with my Ivy Bank account?

No, you can only access your savings via an eTransfer, domestic wire, or cashier’s check.

Is Ivy Bank FDIC insured?

Yes, Ivy Bank is insured up to $250,000 per account holder per ownership category.