Banesco USA


Overview / Commentary
786-725-3000
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 505th largest bank in the nation. It was established in 2006 and as of December of 2019, it had grown to 277 employees at 6 locations. Banesco USA has an A health rating.

Related Posts

2.15% 12 Month CD Dropped To 1.75% - 3/17/2020

I spoke to a Banesco CSR yesterday and they were still offering their 12 month CD @ 2.15%. When I logged into Banesco today, the special appeared on their landing page. When I began the account application process, the rate was listed as 1.75%. I verified this rate with a Banesco CSR today, who informed me that their rates changed yesterday afternoon. Congratulations to all those who jumped on this one quickly!

2.15% 12 Month CD - 3/10/2020

I noticed this is not listed under the CD tab, but Ken has written a review. Here's a summary of that review: Banesco USA Adds 5 bps To 12-Month CD Rate - 3/4/2020 Banesco USA has added 5 bps to its 12-month BaneSmart CD, giving it a 2.15% APY. Minimum online opening deposit is $1.5k, with in-branch openings requiring $1k.

Banesco USA Adds 5 bps To 12-Month CD Rate - 3/4/2020

Banesco USA has added 5 bps to its 12-month BaneSmart CD, giving it a 2.15% APY. Minimum online opening deposit is $1.5k, with in-branch openings requiring $1k.

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Reviews (4)

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

Health Grade Components

Overall
FDIC Certificate #57815
Year Established2006
Employees277
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.95%
Return on Equity - YTD10.96%
Annual Interest Income$66.7MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.72B$1.28B
LoansQ4 2019vs Q4 2018$1.33B$946.4MM
DepositsQ4 2019vs Q4 2018$1.40B$1.10B
Equity CapitalQ4 2019vs Q4 2018$149.9MM$115.7MM
Loan Loss AllowanceQ4 2019vs Q4 2018$11.9MM$10.6MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$5.9MM$2.1MM
Real Estate OwnedQ4 2019vs Q4 2018$0$0
Rates
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Banesco USA CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$1.5k$250kBusiness 36 Month CD
0.95%$1.5k-Business 24 Month CD
0.90%$1.5k-12 Month CD
0.80%$1.5k-Business 18 Month CD
0.75%$1.5k$250k36 Month CD
0.75%$1.5k-Business 12 Month CD
0.70%$1.5k$250k6 Month CD
0.65%$1.5k-24 Month CD
0.55%$1.5k-18 Month CD
0.45%$1.5k$250kBusiness 6 Month CD
Locations


Banesco USA Locations
Banesco Usa150 Alhambra Circle, Suite 100Coral Gables, FL 33134
Hato Rey Branch255 Avenue Ponce De LeonSan Juan, PR 00917
Doral Boulevard Branch9500 NW 41 StreetDoral, FL 33178
Westchase Linebaugh Branch795 West 49th StreetHialeah, FL 33012
Aventura Park Square Branch2950 N.E. 207th StreetAventura, FL 33180
Brickell Bank Branch1395 Brickell AvenueMiami, FL 33131

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