With competitive rates and a strong local presence, Amboy Bank is a solid choice for customers who value relationship-driven, community banking.
It’s hard to go wrong with Amboy Direct Bank, especially if you’re a New Jersey resident. The rates are competitive, the fees are negligible and it’s easy to transfer money between Amboy Direct and your existing checking account.
Amboy Direct is a fee-free online bank backed by a long-standing New Jersey institution, offering competitive savings and money market rates without the overhead of physical branches. It’s a simple, low-cost option for customers who want easy transfers, strong local roots, and rates designed to remain competitive.
Amboy Direct Savings Account
Amboy Direct offers a single savings account that is available exclusively online, keeping things simple and low cost. Know here what it is:
- Only $1 needed to open an account
- Available to New Jersey residents only
- Earns up to 3.61% APY
- Deposits are FDIC-insured
best for
simple savings
low maintenance accounts
online banking
high-yield savings
less deposit
Great for high-APY savers in New Jersey
Amboy Direct offers a single savings account designed for New Jersey residents who want a low minimum deposit and a competitive high APY.
fees
No monthly service fee
Pros
- high apy
- Low minimum deposit for Amboy Direct
- FDIC-Insurance
Shortcoming
- For New Jersey residents only
- no physical branches
take it quickly
Amboy Direct keeps things simple with a single, fee-free savings account that offers low minimum deposits and a competitive APY. This is an easy option for New Jersey residents who want to earn more on their savings without having to set up multiple accounts or worry about fees.
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Amboy Direct CD Accounts
Amboy offers two options of Direct Deposit certificates: a two-year Treasury Index CD and an eSavings CD, both with minimum initial deposits of $100.
- Two-Year Treasury Index CDs include rates that adjust quarterly and are tied to the Wall Street Journal 3-month Treasury rate, plus a margin of 0.50%.
- eSavings CDs offer a fixed rate, earning over a period of 12 months
- With the eSavings CD, you can add funds during the first six months
- Two-Year Treasury Index CD allows additional deposits during the first three months
- All CD deposits are FDIC-insured
best for
simple savings
low maintenance accounts
online banking
high-yield savings
less deposit
Two CD options designed to help you save
Amboy Direct offers two CD options with minimum deposits as low as $100, letting savers choose between a fixed-rate CD or a Treasury-indexed option. Both are built for customers who want to earn more and do not need quick access to their cash.
fees
No monthly service fee
Pros
- Interest compounds daily
- You can earn up to CD rates APY
- Low minimum deposit compared to other CDs
Shortcoming
- For New Jersey residents only
- no physical branches
take it quickly
Amboy Direct keeps CDs simple and accessible with low minimums and flexible options, making it easy for everyone to grow savings without being tied into a one-size-fits-all condition.
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Amboy Direct Money Market Account
Amboy Direct offers New Jersey residents a money market account with the following features:
- The minimum deposit for the money market is $100
- Money market funds are FDIC-insured
- can earn up to
- Available to NJ residents only
best for
simple savings
low maintenance accounts
online banking
high-yield savings
less deposit
High APY and easy access for New Jersey savers
Amboy Direct’s Money Market Account offers a competitive APY with a low $100 minimum deposit. It is available exclusively to New Jersey residents who want to earn more while still having access to their funds.
fees
No monthly service fee
Pros
- No monthly maintenance fees
- high apy
- $100 minimum deposit only
Shortcoming
- For New Jersey residents only
- no physical branches
take it quickly
This account strikes a good balance between earning a high rate and keeping the money accessible. This is a solid option for New Jersey residents who want the flexibility of a money market account without paying fees or meeting high minimum requirements.
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banking experience
Customers can get assistance regarding their account or assistance in opening an account by phone, email or mail. To contact a customer service agent you can call 1-877-222-6269. Here are the hours to contact agents by phone:
Monday-Thursday: 8:30 am to 7:00 pm
Friday: 8:30 am to 5:00 pm
Saturday: 9:00 am to 1:00 pm
The mobile app is available on Google Play and Apple App Store. The app lets you check your balance, transfer money and contact customer service securely. It is rated 4.5 out of 5 stars Google Play Store And 4.7 out of 5 star rating Apple App Store.
How does Amboy Direct Connect compare?
Choosing a new bank is an important decision, so you’ll want to shop around. Here are some other online-only banks to consider.
savings
CD
money market accounts
No monthly service fee
$0
No monthly service fee
minimum opening
minimum opening
minimum opening
No monthly service fee
No monthly service fee
Early withdrawal may attract penalty
minimum opening
minimum opening
minimum opening
No monthly service fee
$0
No monthly service fee
minimum opening
minimum opening
minimum opening
amboy vs ally
Amboy Direct and Ally were both finalists for Best Online Bank of 2026 – with Ally taking the top spot. Amboy Direct is a fee-free online bank backed by a long-standing New Jersey institution, offering competitive savings and money market rates without the overhead of physical branches.
Ally brings a comprehensive product lineup to the table – checking, savings, money market and CD accounts, all with no minimum deposit requirements and no monthly maintenance or overdraft fees, plus fee-free access to over 75,000 ATMs. Where Ally really excels is its digital experience and national reach, Amboy Direct is a strong option for New Jersey residents who want a simple, community-supported savings account, but it doesn’t match Ally’s full suite of tools and reach.
Amboy vs American Express
Amboy Direct and American Express National Bank share a similar appeal: Both are fee-free online options with no minimum balance requirements. American Express National Bank offers a checking account, high-yield savings and CDs, and serves as a one-stop shop for its credit card and banking customers, with easy access to both in a single app.
That integrated experience is a worthwhile advantage – especially for existing Amex cardholders. Amboy Direct, in contrast, keeps things intentionally simple with a single savings account and CD options, making it a better fit for those who want a straightforward place to grow their money without any frills.
final take
You won’t find a larger selection of accounts at Amboy Direct. What you’ll find is a no-frills, no-hassle banking experience and rates that rival the better-known online banks. But because adding or withdrawing money from your account is a slow process, the bank is best for people who can schedule regular automatic deposits and let their savings grow.