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 520th largest bank in the nation. It was established in 2006 and as of December of 2021, it had grown to 290 employees at 4 locations. Banesco USA's savings rates are 25% higher than the national average, and it has an A health rating.

Reviews (5)

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.

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 - YTD1.01%
Return on Equity - YTD11.91%
Annual Interest Income$73.4MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$2.13B$1.94B
LoansQ4 2021vs Q4 2020$1.59B$1.41B
DepositsQ4 2021vs Q4 2020$1.59B$1.50B
Equity CapitalQ4 2021vs Q4 2020$181.0MM$168.1MM
Loan Loss AllowanceQ4 2021vs Q4 2020$21.0MM$23.4MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$9.5MM$12.5MM
Real Estate OwnedQ4 2021vs Q4 2020$0$0
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Banesco USA Savings Account Rates

0.65%$100$1mBanesGrow Savings Account

Banesco USA Money Market Rates

0.40%$2.5k$1mBanesFlex Money Market Account

Banesco USA CD Rates

0.55%$1.5k$250k36 Month CD
0.55%$1.5k$250kBusiness 36 Month CD
0.50%$1.5k$250k24 Month CD
0.50%$1.5k$250kBusiness 24 Month CD
0.45%$1.5k$250k18 Month CD
0.45%$1.5k$250kBusiness 18 Month CD
0.40%$1.5k$250k12 Month CD
0.40%$1.5k$250kBusiness 12 Month CD
0.35%$1.5k$250k6 Month CD
0.35%$1.5k$250kBusiness 6 Month CD

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