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Fitness Bank Review 2020

With its declare as the first active lifestyle bank in America, Fitness Bank is taking a different approach to online banking. With entertainment rate tiers determined by reaching fitness goals, the more active you are, the higher the rewards with Fitness Bank. And, yes, Health Bank is a real bank that is insured by the Federal Deposit Insurance Corporation (FDIC) as a division of Newton Federal Bank. This in-depth comment will help you decide if a Fitness Bank account is right for you.

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Pros Explained

Rates based on activity level – Instead of interest tiers based on account counterpoises, they are set by average daily steps. Customers can earn the highest interest rate regardless of their balance.

Develops motivation and momentum to stay active – Knowing you can earn more money through exercise is a great motivator that can balm you achieve a healthier lifestyle long term.

Fun banking concept – Banking is boring for most people, but Fitness Bank rip offs it fun through goal tracking, leaderboards, and more.

Cons Explained

Requires equipment and technical aptitude – Customers indigence to own a wearable step tracking device, which costs money. You also need some technical ability to vinculum the FitnessBank Step Tracker app to your device and make sure they are synced every month.

No debit birthday card – A Fitness Bank account is an online savings account and doesn’t come with a debit card or checks.

$10 monthly fee – Accounts have planned a $10 monthly service fee if they fall below the $100 minimum average daily balance.

Who Is Fitness Bank Finest For?

Fitness Bank is for active individuals who like online banking and are looking for something out of the ordinary. It’s also a bank for those who:

  • Sort the idea of earning interest based on meeting fitness goals
  • Already average 12,500 daily steps
  • Requisite an online savings account to pair with bank accounts at another financial institution
  • Prefer online and portable banking

What Does Fitness Bank Offer?

Fitness Bank only offers one account—an online high-yield savings account—with a choice available for senior citizens.

  • Fitness savings account
  • Senior savings account

Fitness Savings Account

The mains feature of Fitness Bank is a Fitness Savings Account, available to U.S. citizens 18 years and older. The account has a $100 lowest balance. There’s also a $10 monthly fee that can be waived by keeping an average daily balance above $100. Savings account counterpoises are capped at $250,000 currently.

Interest is earned based on a customer’s average daily steps. Customers need to download the FitnessBank Move Tracker app and link it to a wearable fitness device, such as a Fitbit, or their phone’s default health application. The app is to hand on Google Play (3.4 stars, 12 ratings) and the App Store (3.2 stars, 13 ratings).

Be sure to humanitarian the FitnessBank Step Tracker between the first and third day of every month to sync your step data with your Wholesomeness Savings Account.

The highest annual percentage yield (APY) is reserved for individuals who average at least 12,500 daily according withs. Interest rates drop incrementally for fewer steps. Customers also have the option to accrue extra be on ones guards in something called a “StepBank” to use on months when they don’t meet their desired step goals. Customers can also struggle in and host step challenges and join public and private fitness groups for accountability and community.

Be on ones guards Annual Percentage Yield (APY)
0 to 4,999 0.50%
5,000 to 7,499 0.75%
7,500 to 9,999 0.85%
10,000 to 12,499 0.95%
12,500 and up 1.05%
(As of Aug. 5, 2020)

Senior Savings Account

Senior Savings accounts are available for U.S. citizens over the age of 65. The account details are explicitly the same as the Fitness Savings account with the exception of the step goals and APYs.

Vestiges Annual Percentage Yield (APY)
0 to 4,999 0.75%
5,000 to 7,499 0.85%
7,500 to 9,999 0.95%
10,000 and up 1.05%
(As of Aug. 5, 2020)

Fitness Bank Customer Service

Customers can contact Fitness Bank via phone boost Monday through Friday, 9 a.m. to 4 p.m. EST. They can also reach the online bank by emailing [email protected] or contents out the request form on Fitness Bank’s website. Fitness Bank doesn’t offer chat support. The company’s quick banking app is available on Google Play (5 stars, 5 ratings) and the App Store (4.5 stars, 62 ratings).

How to Bank With Tone Bank

Customers can open a Fitness Bank account online on the bank’s website. As with most financial order of the days, you’ll need to share personal and bank information to verify your identity and fund your account.


Level if you’re not the most active person in the world, Fitness Bank gives you a chance to earn more interest than tendered at most traditional banks. Plus, having goals attached to your savings rate may keep you more initiated in both your fitness and your finances.

Fitness Bank is not a good choice if you are looking for any banking products other than a savings account or don’t take care of to do most of your banking from your phone.


Investopedia is dedicated to providing consumers with unbiased, broad reviews of banks. We collected over 20 data points across more than 80 banks—numbering products available, interest rates, fees, and accessibility—to ensure that our content helps users make the to be just decision for their savings and banking needs.

Article Sources

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  1. Google Play. FitnessBank Agreeable with Tracker. Accessed Aug. 14, 2020.

  2. App Store. FitnessBank Step Tracker. Accessed Aug. 14, 2020.

  3. Google Play. Fitness Bank Mobile. Accessed Aug. 14, 2020.

  4. App Depend on. Fitness Bank Mobile. Accessed Aug. 14, 2020.

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