Is Always.bank Legit? Who Runs It and How Your Money Is Protected
Always.bank is a digital division of 22nd State Banking Company, an FDIC insured Alabama bank founded in 1917. Here is how your money is protected and what it pays.
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Yes. Always.bank is the online division of 22nd State Banking Company, an FDIC insured bank in Mobile, Alabama, founded in 1917. Deposits are insured up to $250,000 per depositor, per ownership category under FDIC certificate 16910. Its savings account pays 4.10% APY with no minimum and no monthly rules.
Always.bank has appeared near the top of savings rate lists without much name recognition, which is exactly when it pays to check who is behind an account. The short version: it is a new brand from an old bank.
Who owns Always.bank?
Always.bank is a digital division of 22nd State Banking Company, a community bank based in Mobile, Alabama. FDIC records show the bank was established in 1917 and insured under certificate 16910, which we confirmed in the FDIC BankFind database. Like a number of community banks, it runs an online brand that takes deposits from customers nationwide.
Because Always.bank is a division and not a separate bank, your account is legally an account at 22nd State Banking Company.
Is my money FDIC insured at Always.bank?
Yes, up to $250,000 per depositor, per ownership category. One detail matters: deposits at Always.bank and at 22nd State Bank itself share a single limit, because they are the same bank. If you bank with both, add the balances together. For more than $250,000, a joint account or payable on death beneficiaries can raise your coverage.
What does Always.bank pay?
| Account | Rate | Minimum | Good to know |
|---|---|---|---|
| High Yield Savings | 4.10% APY (as of Oct 27, 2026) | $0 | No monthly rules or fees |
| CDs | 4.15% APY on 12 months (as of Oct 28, 2026) | $500 | Terms from 6 to 60 months; 10 day rate lock |
Rates are variable and can change at any time. Each rate shows the date the provider says it applies; we check every figure against the provider’s own website.
The savings rate applies from your first dollar, with no direct deposit, no balance tiers and no monthly deposit rule. That puts it among the highest standard rates with no rules that we track, and the highest with no minimum at all; see our best savings accounts with no direct deposit required.
On CDs, every term from 6 to 60 months pays at least 3.80% APY (as of Oct 28, 2026). Early withdrawal penalties are published: 90 days of simple interest for terms under 12 months, 120 days for 12 to 36 months and 180 days for longer terms. If the rate rises within 10 days of applying, you get the higher rate, and you have a 10 day grace period at maturity.
What to watch for
- A new app. The Always.bank app is too new to have meaningful ratings (checked Sep 29, 2026). That is the main reason it scores 4.4 out of 5 on our published scorecard instead of higher.
- No card on savings. Money moves by transfer to and from a linked bank account. Keep spending money in checking.
- Shared FDIC limit with 22nd State Bank, as above.
- Variable rate. The savings rate can change after you open, as with any savings account.
How to check you are dealing with the real Always.bank
- Type always.bank into your browser rather than clicking links in texts or emails.
- Search FDIC BankFind for certificate 16910 and confirm the name 22nd State Banking Company.
- Call the number on the official site, (877) 259 2979, if anything seems off. A real bank will never ask for your password or a one time code.
Always.bank vs. other no rules savings accounts
Always.bank pays 4.10% APY with no minimum. Peak Bank Envision pays 4.27% APY with a $100 minimum, but holds transfers for five business days. American Express pays 3.20% APY with 24/7 phone support and one of the best rated banking apps we track. Peak pays a little more if you can live with its $100 minimum and transfer holds; Always.bank is the top rate we track with $0 to open; and if you want a proven app and support, Amex is the safer bet on experience.
Who Always.bank is a good fit for
- Savers who want a top rate without direct deposit or monthly rules
- People starting with a small balance, since the minimum is $0
- CD savers who want published penalties and strong rates across many terms
Our verdict
Always.bank is legitimate: an FDIC insured division of a bank that has operated for more than a century, paying one of the highest no strings savings rates we track. The trade off is a young app with little track record. Read our full Always.bank savings review and Always.bank CD review, or see the best high yield savings accounts.
Frequently asked questions
Is Always.bank a real bank?
Always.bank is a digital division of 22nd State Banking Company, an FDIC insured bank in Mobile, Alabama (certificate 16910) founded in 1917.
Is Always.bank FDIC insured?
Yes, through 22nd State Banking Company, up to $250,000 per depositor, per ownership category.
What is the Always.bank savings rate?
4.10% APY as of Oct 27, 2026, with no minimum and no monthly rules. The rate is variable.
Does Always.bank have a minimum deposit?
Not for savings. CDs need $500.
Does Always.bank have a debit card?
Not for savings. You move money by transfer to and from a linked bank account.
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