Banesco USA

Overview / Commentary
150 Alhambra Circle, Suite 100
Coral Gables, FL 33134

Banesco USA is headquartered in Coral Gables and is the 16th largest bank in the state of Florida. It is also the 433rd largest bank in the nation. It was established in 2006 and as of June of 2022, it had grown to 301 employees at 4 locations. Banesco USA's CD rates are 5X the national average, and it boasts an A+ health rating.

Reviews (6)

Great Promotions, Excellent Service

Posted by: |

I have been with the bank for over 2 years now and I've received nothing but excellent service so far. Even though my current account is purely online they are always available to help and the officers are always responsive.

Nice Bank

Posted by: |

have been doing business with this bank over 2 years and they are excellent to do business with

Fees For Moving Money

My only hesitation here are the fees. Incoming wire transfers - $15. Incoming ACH - 20 cents per occurence. Charging a fee for money coming into the bank is silly. They are nickel and diming, erasing any benefit of higher interest rate.

CD Application Refusal

Posted by: |

Banesco Bank refused a CD application for my 19-yr old daughter, no reason given, after we submitted all requested info and verified the $4K we wanted to open the CD fir was ready to transfer from her che king account. I’ve opened MANY CDs with online banks in the last 10 years and never had an application refused. Banesco didn’t have the common courtesy to even tell us why we were denied.
Banesco lost this customer; will never bank with them and will advise anyone I know looking at online banks to avoid them. Utterly ridiculous!

Worst Service Ever

Posted by: |

I opened a savings account online. Bank then lowered rates. Attempted to transfer money using ACH. There is a $2000/transaction limit on outgoing transfers and can only do one transaction per 5 day period. Still attempted the ACH; failed. Called to get money sent to me by check. Spent one hour on the phone. Clueless customer service person kept putting me on hold; suggested that she could try to remove limits on ACH (she could not after more time wasted on hold) or have wire transfer ($80 which I refused). Was finally told that a "account manager" would call me to arrange for a check to be sent; "hopefully today; if not, tomorrow." Yep, could not even get a check sent to me after ONE HOUR on the phone.

I've done online banking for decades; this bank is the absolute worst.

Interest Not Credited On CD

Posted by: |

I opened a 2 year CD at a rate of 2.50% 10 months ago. It was an excellent rate at the time. It is now 10 months later and no interest has been credited to the account. I made a long distance move around that time and don’t have access to the disclosures, so I suspect this is one of those situations where the interest will not be paid until maturity. Also, setting up the account was not straightfoward, and my funds were taken from my funding account before it had been verified.

Pretty sketchy practices. I plan to close out this account and take the early deposit hit. Competitor rates are currently over 2.80% so I expectto make up for this hit.


Health Grade Components

FDIC Certificate #57815
Year Established2006
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.89%
Return on Equity - YTD8.54%
Annual Interest Income$43.3MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$2.59B$2.05B
LoansQ2 2022vs Q2 2021$1.90B$1.53B
DepositsQ2 2022vs Q2 2021$1.91B$1.60B
Equity CapitalQ2 2022vs Q2 2021$401.8MM$171.6MM
Loan Loss AllowanceQ2 2022vs Q2 2021$22.0MM$23.2MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$8.3MM$12.9MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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Always verify rates and promotions with the bank or credit union. We are not Banesco USA; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Banesco USA Savings Account Rates

1.35%$300$1mBanesGrow Savings Account

Banesco USA Money Market Rates

1.35%$300$1mBanesFlex Money Market Account

Banesco USA CD Rates

4.40%$1.5k-12 Month CD
4.30%$1.5k-6 Month CD
4.10%$1.5k-18 Month CD
0.55%$1.5k-36 Month CD
0.55%$1.5k$250kBusiness 36 Month CD
0.50%$1.5k-24 Month CD
0.40%$1.5k$250kBusiness 12 Month CD
0.40%$1.5k$250kBusiness 18 Month CD
0.40%$1.5k$250kBusiness 24 Month CD
0.35%$1.5k$250kBusiness 6 Month CD

Banesco USA Locations
Banesco Usa150 Alhambra CirCoral Gables, FL 33134
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