Any person should have a savings plan in place in order to build up a cash reserve against emergencies or possible loss of job. With that in mind I do like Allstate’s High Yield Savings because it motivates consumer to keep a minimum balance of $500 in it at all times or you get a fee applied.

I like this with any savings account because it contiually reminds us of the reason we have it in the first place.

All you need to open a premium high yield savings account with Allstate is $100. If you have $500 I would recommend that though, as I mentioned earlier, there is a $4 monthly fee if your savings falls below that number,  so you might as well take care of that up front if you’re able to to enjoy the benefits without penalties.

For personal or consumer accounts you get a free ATM card with your high yield savings account, and also a nice up to $6 a month automatic reimbursement for ATM fees from other banks. You can perform 6 third-party transactions on a monthly basis. ATM withdrawals are unlimited as well.

After you have open a high yield savings account with Allstate, you can make your deposits in a number of ways: through snail mail, ACH transfers from other accounts, at Allstate ATM’s and through direct deposits.

With the ATM, phone or the Internet, you have access to your account 24/7.

If you need to make withdrawals from the account, you can do that with your provided debit card.
 
As of this writing, the interest rate on the Allstate high yield savings account is 1.70% APY. Interest is compounded daily while being credited monthly.  
 
You can open an account with Allstate in a couple of ways. You can either contact a local Allstate agent, or you can apply for an account online on their forms page.

If you have any question or want an application sent to you, you can call the bank at 1-877-794-BANK (2265).