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Primis Bank Review: Attractive Checking Accounts

Primis Bank has two attractive checking accounts and a high-yield savings account that is worth looking into. They have branches in Virginia and Maryland but accept customers nationwide. 

They also offer CDs, but the rates aren’t as high as you can find elsewhere. 

If you are looking for financing, Primis offers a wide variety of loans including credit cards, mortgages, auto loans, and personal loans. 

We will explore what the bank has to offer and you can decide if it’s the best choice for you.

primis bank
  • Primis Perks checking account rewards you with 50 cents for every debit card purchase.
  • No monthly fees.
  • Attractive APY for interest-bearing checking account option.

Checking, Savings, CDs, and Loans

What Is Primis Bank

Primis Bank was founded in 2005. The Virginia-based bank offers a variety of business and personal banking services to customers across the country. It has physical locations around the Richmond and Alexandria area, but is available online to anyone nationwide. 

What Does It Offer?

Primis Bank offers both business and personal banking products. On the business side, you can find a checking account, savings account, and loans. But for the purposes of this review, I will focus on the personal banking products offered by Primis Bank. 

Checking Accounts: Primis Perks and Primis Premium

Primis Bank offers two checking account options: the Primis Perks and the Primis Premium.

You can open either account with $1. While the Primis Premium account offers an opportunity to earn interest, the Primis Perks account doesn’t.

The highlight of the Primis Perks account is that you’ll earn 50 cents for every debit card purchase you make either in-store or online. Other advantages include no account fees, no overdraft fees, and no maintenance fees. You can use Primis ATMs for free, and any fees charged by non-Primis ATMs will be reimbursed at the end of the statement period. You can also get a pack of 40 checks for free, and get free cashier’s checks when you need them.

The Primis Premium is an interest-bearing checking account, which currently offers a 5.07% APY on all balances. This account doesn’t have any overdraft fees, offers free cashier’s checks, and free in-person notary services.

Primis Savings

The Primis Savings account offers a 5.07% APY on all balances. You’ll need just $1 to open the account. Once open, you won’t run into any minimum balances, monthly fees, or transaction limitations. 

Primis CDs

Primis offers CDs with terms that range from six to 72 months. With any of the accounts, you’ll need to make a $250 minimum deposit. If you need to make a withdrawal before the CD matures, expect to pay an early withdrawal penalty.

Here’s a look at the rates offered by Primis CDs:

You can definitely find higher CD rates. Check out our list of best CD rates here.

Primis Loans

Primis Bank offers a range of loans to help you accomplish financial goals. These include mortgages, auto loans, boat loans, HELOCs, personal loans, and credit cards. If you open a Primis Bank deposit account, applying for a loan you need through the bank could help you keep your finances streamlined.

Are There Any Fees?

There are no monthly fees, no overdraft or NSF fees, no stop payment fees, and no incoming wire fees. You will also have all of your ATM fees reimbursed at the end of the month. 

But that doesn’t mean you won’t ever see a fee no matter what. For example, Primis Checking accounts come with a $25 fee for expedited bill payment, and a $10 return deposited item fee. When opening a Primis Bank account, read the fine print to avoid any unexpected fees.

How Does Primis Bank Compare?

Primis Bank isn’t the only financial institution out there. Here’s how it stacks up:

Chime® offers a fee-free banking account to make your life easier. Additionally, Chime offers the SpotMe® service, which can help you tap into fee-free overdrafts of up to $200*. But the APYs offered by Chime’s savings and checking accounts are a bit lower than Primis Bank’s.

Current offers a personal account without any minimum balance requirements and no overdraft fees. While you won’t earn 50 cents with every debit card purchase, you can earn up to 7 points per dollar spent at participating merchants, which you can redeem for cash back. Uniquely, Current removed gas station holds to give you unfettered access to your cash.

Neither Chime nor Current offers any in-person banking options.

How Do I Open An Account?

If you want to open a Primis Bank account, start by selecting the account on the bank’s website.

When you start your bank account application, you’ll need to provide some personal information. Be prepared to share your name, address, Social Security Number, date of birth, and phone number. Also, come ready to prove your identity with a government-issued ID.

If your account application is approved, you can move on to fund your account. 

Is It Safe And Secure?

Primis Bank offers accounts with extended FDIC insurance. As of writing, the financial institution protects up to $2 million of your deposits for free. Additionally, Primis Bank takes standard steps to protect your financial information with bank-level encryption.

How Do I Contact Primis Bank?

If you want in-person help, Primis Bank has dozens of branches across Virginia. But for customers that live in another state or simply don’t want to go to a branch, you can call 1-833-4PRIMIS at any time for help. You can also email customer service at

The bank has average Trustpilot reviews, with 3 out of 5 stars and only a handful of reviewers. Also, Apple users tend to like the app better with 3.4 out of 5 stars. In contrast, Google Play Store users gave the mobile app 2.5 out of 5 stars. 

Is It Worth It?

Primis Bank offers a suite of personal deposit products that could fit your financial situation. For checking account options you can choose between earning 50 cents for every debit card transaction or earning 5.07% APY, those are rate perks. The savings account also earns an attractive 5.07% APY. 

So, if you want an account with minimal fees and attractive rewards, the Primis Bank might be worth it.

But before you sign up, consider all of the best banking options.

Primis Bank Features

Checking, Savings, CDs, Loans

Minimum Opening Balance Requirement

$1 – Checking and savings

Minimum Opening Balance For CDs

Several around the Richmond VA and Alexandria MD area

Web/Desktop Account Access


* SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card.

Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions,
including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions. See terms and conditions: SpotMe on Debit Terms and Conditions

¹ The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of May 22, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.


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