I can only recommend Ascencia Bank checking and money market accounts in a special case when a customer needs combination of free bill payment, free incoming and outgoing ACH transfers and free checking account, and can tolerate relatively high, but not one of the highest, APY of a money market account.
Otherwise, I can not recommend Ascencia Bank to high-income customers because they can get find better APY of deposit products in other banks.
I can not recommend Ascencia Bank to majority of low-income customers either because it fails to offer one of the essential features online banks should have, namely, ATM rebates. It also charges a $25 annual fee for overdraft protection. Ascencia Bank does not offer online check images, e-bills or email alerts. There are online banks that offer better terms and services. Many online banks offer ATM rebates and free bill pay with low or no minimum balance requirement (State Farm Bank, Farm Bureau Bank, Charter One Bank, etc). Interest checking account of First Internet Bank of Indiana with $500 minimum balance requirement gives you free bill payment, ACH-in transfers, e-bills, email alerts, and ATM rebates.
