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 470th largest bank in the nation. It was established in 2006 and as of September of 2019, it had grown to 298 employees at 6 locations. Banesco USA's CD rates are 2X the national average, and it has an A health rating.

Related Posts

Banesco USA Offers BanesGrow Savings Account, 2.47% APY - 4/17/2019

Banesco USA's nationally available BanesGrow Savings Account earns 2.47% APY on balances of $300 and above. Minimum opening deposit is $100.

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Reviews (4)

Nice Bank

Posted by: golinsky | Nov 18, 2018

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.

Worst Service Ever

Posted by: unhappyII | Aug 19, 2019

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: pashber | Jan 1, 2019

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 - YTD1.83%
Return on Equity - YTD21.22%
Annual Interest Income$46.5MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$1.84B$1.25B
LoansQ3 2019vs Q3 2018$1.30B$935.6MM
DepositsQ3 2019vs Q3 2018$1.55B$1.05B
Equity CapitalQ3 2019vs Q3 2018$138.5MM$97.2MM
Loan Loss AllowanceQ3 2019vs Q3 2018$11.3MM$10.8MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$1.6MM$2.1MM
Real Estate OwnedQ3 2019vs Q3 2018$0$0
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Banesco USA CD Rates

2.10%$1.5k-12 Month CD
2.05%$1.5k$250k36 Month CD
2.00%$1.5k-24 Month CD
1.95%$1.5k-18 Month CD
1.75%$1.5k$250k6 Month CD
1.00%$1.5k$250kBusiness 36 Month CD
0.95%$1.5k-Business 24 Month CD
0.80%$1.5k-Business 18 Month CD
0.75%$1.5k-Business 12 Month CD
0.45%$1.5k$250kBusiness 6 Month CD

Banesco USA Locations
Banesco Usa150 Alhambra Circle, Suite 100Coral Gables, FL 33134
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