Banesco USA


Overview / Commentary
786-725-3000
150 Alhambra Circle, Suite 100
Coral Gables, FL 33134

Banesco USA is headquartered in MIAMI and is the 11th largest bank in the state of Florida. It is also the 311th largest bank in the nation. It was established in 2006 and as of December of 2024, it had grown to 358 employees at 5 locations. Banesco USA's money market rates are 9X the national average, and it boasts an A+ health rating.

Reviews (4)

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.

Repeat Customer

Posted by: |

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

Posted by: |

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

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!



Health
A+

Health Grade Components

Overall
FDIC Certificate #57815
Year Established2006
Employees358
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.05%
Return on Equity - YTD8.95%
Annual Interest Income$232MM
Assets and Liabilities
AssetsQ4 2024vs Q4 2023$4.41B$3.8B
LoansQ4 2024vs Q4 2023$3.28B$2.85B
DepositsQ4 2024vs Q4 2023$3.62B$2.97B
Equity CapitalQ4 2024vs Q4 2023$520.8MM$448.1MM
Loan Loss AllowanceQ4 2024vs Q4 2023$37.5MM$35.6MM
Unbacked Noncurrent LoansQ4 2024vs Q4 2023$12.1MM$7.3MM
Real Estate OwnedQ4 2024vs Q4 2023$0$0
Rates
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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 rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Banesco USA Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.35%$300$1mOnline Savings Account

Banesco USA Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.15%$2.5k$1mOnline Money Market

Banesco USA CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%$0$250kBusiness 3 Month CD Special
4.25%$0$250k3 Month CD Special
4.00%$0$250k6 Month CD
4.00%$0$250k12 Month CD
3.60%$0$250k18 Month CD
3.60%$0$250k24 Month CD
3.60%$0$250k36 Month CD
3.60%$0$250k9 Month CD
Locations


Banesco USA Locations
Banesco Usa150 Alhambra CirCoral Gables, FL 33134
Hato Rey Branch255 Avenue Ponce De LeonSan Juan, PR 00917
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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