Banesco USA is headquartered in MIAMI and is the 11th largest bank in the state of Florida. It is also the 296th largest bank in the nation. It was established in 2006 and as of March of 2025, it had grown to 361 employees at 5 locations. Banesco USA has an A health rating.
Great Promotions, Excellent Service
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.
Repeat Customer
I got a CD from this bank during the pandemic when Banesco had a leading rate CD. This bank won’t deny you an account for some stupid thing they get alarmed about.
This bank gives simple interest posted at the end of your CD term which makes their 3 month CD best for me.
Taking out a CD with Banesco is simple and easy.
Compounding And Posting
I needed to put some cash to work for me exactly one year ago so I got an 18 month CD from Banesco. They were paying about the best interest I could find at 3.5%. I discovered an undisclosed way they pay interest. They don't compound interest and payment of interest earned is at the end of the CDs term.
I realise I was in a tight market back then and I would most likely settled on the odd interest scheme they have over there. I recently phoned Banesco to talk about redeeming early and learned they dock you three months interest which will be my next move. Ive done my math, dollars and cents wise it’s time for me to move on
CD Application Refusal
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!
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57815 |
| Year Established | 2006 |
| Employees | 361 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.15% |
| Return on Equity - YTD | 9.94% |
| Annual Interest Income | $61.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $4.75B$3.95B |
| Loans | Q1 2025vs Q1 2024 | $3.33B$2.97B |
| Deposits | Q1 2025vs Q1 2024 | $3.84B$3.21B |
| Equity Capital | Q1 2025vs Q1 2024 | $537.6MM$457.7MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $36.8MM$36.8MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $28.4MM$6MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |