Bank Onward (Bo)

Deposits held and insured by ConnectOne Bank

Overview / Commentary
2455 Morris Avenue
Union, NJ 07083
Deposits held and insured by ConnectOne Bank

Related Posts

Bank Onward Is New Online Division Of ConnectOne Bank - 10/11/2021

The inaugural account offered by Bank Onward (online division of ConnectOne Bank) is the Bo Savings account, which currently has a rate-leading APY.

Reviews (1)

Low Transaction Limits

Posted by: |

I opened a new online savings account at 0.65% APY without any trouble, but received the following reply when I asked their support what the transaction limits are; "Our daily limit is $3,000.00 for deposits and withdrawals. Our monthly limit is $15,000.00.
There is no limit on the number of transactions you can do, just on the amounts." Those limits are so low that they make the account essentially worthless to me.


Data as of Q3 2021

Data displayed below is for insuring bank: ConnectOne Bank
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Health Grade Components

FDIC Certificate #57919
Year Established2005
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.79%
Return on Equity - YTD13.15%
Annual Interest Income$222.7MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$7.95B$7.45B
LoansQ3 2021vs Q3 2020$6.50B$6.19B
DepositsQ3 2021vs Q3 2020$6.54B$5.89B
Equity CapitalQ3 2021vs Q3 2020$1.08B$975.9MM
Loan Loss AllowanceQ3 2021vs Q3 2020$78.0MM$74.3MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$80.6MM$78.3MM
Real Estate OwnedQ3 2021vs Q3 2020$0$0
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Bank Onward (Bo) Savings Account Rates

0.65%--Bo Savings

Bank Onward (Bo) is an Internet only bank and does not have branch locations. Its headquarters is located at 2455 Morris Avenue - Union, NJ 07083

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