GE Capital Bank, a Utah-based bank that is a member of the General Electric Capital Corporation, was launched in June 2013. It’s a division of General Electric Company and allows its customers more flexibility because of its ability to offer services online. Customers who want an alternative banking opportunity can try the GE Capital experience. But just what does this bank offer?
Services
GE Capital Bank is headquartered in Utah and is known for providing deposit accounts to commercial customers to fund loans and also leases. Numerous mid-sized and small customers will provide competitive interest rates to depositors. The bank is Internet-based and allows customers to view account balances, statements, and other pending transactions. In addition to online savings accounts, the bank also offers CDs.
The bank is considered one of the Best Banks according to MONEY Magazine in 2013. The associated interest rates typically exceed the national averages. The interest bearing savings accounts will pay a variable interest rate, and the maximum is $250,000 for each depositor. Any interest is accrued daily and paid on a monthly basis. Although there is no minimum amount to be deposited, the maximum an account can accommodate is $1 million per depositor.
GE Capital Bank consists of more CD terms than the average bank. Customers have their choice of 10 options, which range from six months to six years. There is a $500 deposit to open up a CD, but no more than $1 million can be deposited into a CD. Each of their CDs have a 10-day CD Rate Guarantee. This means that customers can lock in the highest annual percentage yield that’s offered within 10 days of opening an account. At any time during the term of the CD, customers can withdraw interest from the account. No penalties will be applied for withdrawing principle funds from the CD.
Keep in mind that a Social Security number, email address, and U.S. street address is required to open an account. If the account is approved, a check will be required for the initial deposit. The funds can also be transferred electronically or via wire transfer.
Online Banking
GE Capital Bank offers online banking and easy transfer of funds between GE Capital Bank Accounts and external bank accounts. Accounts can be accessed 24 hours per day and seven days per week online. Their online banking services are extensive and and are accessible mobile devices. It’s ideal for customers who want to be mobile and on the go.
Locations
GE Capital Bank is an online entity and can be accessed worldwide. To qualify for a GE Capital Bank account, you must have an existing bank account at another financial institution. Once this is established, you can withdraw funds at participating locations, but your primary banking needs will take place online.
Bank Hours
Since banking is conducted online, the bank hours are 24 hours per day and seven days per week. You can bank anywhere and at any time. That’s the beauty of GE Capital Bank. You have the convenience of banking anywhere and at any time. Most people appreciate the services they offer and find that this type of bank account is a perfect complement to any full-service account that they may have.
Customer Service Phone Numbers
Customer service can be reached by phone, online, or via email. If you want to contact GE Capital, they can be reached at 855-730-7283. The knowledgeable sales representatives are on-call to handle any and all questions that you may have about the products and services offered by GE Capital Bank.
