• The investor requires a minimum deposit of $5000 in order to open an account and after it gets opened the balance can become lower than that, if required.
• The investor is allowed a maximum of six withdrawals every calendar month.
• The deposit is offered FDIC coverage for any amount up to $100,000.
• There are no deposits that are allowed through mails.
• The interest that is earned can get compounded on a regular basis.

Apart from these advantages, the investor is required to be wary of certain factors that will secure his savings in the long run. The flexibility factor is quite limited out here. As the transfer of money from the accounts is limited, you might not be able to debit your insurance from your existing account.

The ATM card offered at Univest is also free and one can use it at the counters of the other bank’s ATM counters as well, free of charge. Through this online savings account, you can go for free fund transfers and phone banking, to name a few of the opportunities. The usual savings customers can convert to online savings account without having to pay any charge. There is another interesting aspect with regard to this bank. The investor is set to receive Rewards Checking services that enable him to acquire interest yields that are dependent upon the amount deposited. Further, being insured under the FDIC, the bank offers good security and returns for your deposits.