Deposits held and insured by Customers Bank

Overview / Commentary
99 Bridge St
Phoenixville, PA 19460
Deposits held and insured by Customers Bank

Launched in January 2015, BankMobile is an online bank that focuses on serving Millennials, college students, and otherwise tech-savvy banking customers who want to avoid banking fees and having to visit bank branches. As its name suggests, BankMobile offers convenient and secure electronic access to its digital banking services. Its app (iOS and Android) features the ability to open an account, as well as mobile check deposit, personal payments, bill pay, and personal finance and budgeting resources. However, even without the BankMobile app, customers can always access their accounts through the BankMobile website.

As of this writing, funds deposited with BankMobile are insured by the FDIC (up to applicable limits), and it offers access to a large fee-free network of over 50,000 ATMs across the United States. In addition to personal lines of credit, the bank offers deposit accounts, including checking accounts and interest-bearing savings accounts. Both products have no fees and no minimum balance requirements. The accounts can be linked together to provide fee-free overdraft protection for the checking account. Furthermore, BankMobile provides relationship banking perks – including expanded free ATM access and personalized financial advice – to customers who directly deposit their paychecks into a BankMobile checking account.

Originally, BankMobile was an online division of Customers Bank, headquartered in Phoenixville, PA. However, in March 2017, the parent company of Customers Bank, Customers Bancorp, Inc., announced that it would sell BankMobile to Flagship Community Bank, based in Clearwater, FL.

Reviews (2)

Sadistic Bank

Posted by: Umitencho | Aug 6, 2018

They were once known as HigherOne. They either got bought out or rebranded as Bankmobile.

They have gotten worse. A merchant figured out their statute of limitations and used it to trick me out of my money with no recourse. They then snarkily told me on the phone that getting a school refund doesn't mean I am a student. My school got on their case for that.

I had another dispute with a merchant back in May 2018. The merchant agreed to the charge back mid June. Bankmobile claims that the merchant hasn't responded to their inquiry but the merchant gave me documentation showing that was a lie. Their response was to tell me that even though my money is ready to pull, they will be holding the money(less than $120) till the end of July because they feel like it. While this was going on I ran out of money and has been starving for weeks and was told that it was ok to starve while they negligently hold my money.

My school released my money this Monday before 2PM. 2 PM if you don't know is when banks consider it a new day. Bankmobile has yet to release my money. Thanks to 4th July, no banks are gonna be processing anything Wednesday so that means I won't see a penny til Thursday. I needed that money for my mother's birthday, to eat, for Fourth July celebrations, and most importantly to pay my rent. I now have financial penalties due to their sadistic asses. I even had a health check up and them starving me is causing me health issues.

I try to get in contact with the higher ups but conveniently the manager is never in. Just a useless supervisor who is only there to be a broken record.

Bankmobile is literal killing me and doing it with a smile.

Fast Forward, looks like bankmobile is trying to have the truth of my experience silenced.


Posted by: lexivenus | Jul 28, 2017

I will be moving every dime of my money out of this account and banking elsewhere! This organization makes it extremely difficult for you to access your own funds, customer service is garbage, and the website features are constantly subjected to some sort of malfunction or inaccessible to begin with. DO NOT BANK WITH THIS ORGANIZATION!!!!!! It is not worth the hassles and headaches... please keep your money with a legitimate and reputable financial organization. To Bank Mobile/Higher One/Customer's Bank, I do not want to hear from any of your representatives with a BS response to this post now that my grievances with your company have been presented via the internet; after providing giving your customer service department the benefit of the doubt after painstakingly innumerable and undeserved occasions, There is absolutely NOTHING that you can do at this point to rectify my issues with your company. I will be discouraging whomever I possibly can from banking with or keeping money at your organization!


Data as of Q2 2019

Data displayed below is for insuring bank: Customers Bank
Learn why bank health matters

Health Grade Components

FDIC Certificate #34444
Year Established1997
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.53%
Return on Equity - YTD5.13%
Annual Interest Income$213.0MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$11.18B$11.09B
LoansQ2 2019vs Q2 2018$9.67B$9.08B
DepositsQ2 2019vs Q2 2018$8.20B$7.39B
Equity CapitalQ2 2019vs Q2 2018$1.07B$1.04B
Loan Loss AllowanceQ2 2019vs Q2 2018$48.4MM$38.3MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$16.5MM$30.2MM
Real Estate OwnedQ2 2019vs Q2 2018$1.1MM$1.7MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

BankMobile Savings Account Rates

1.00%*-$15kBankMobile Savings
OTHER TIERS: 0.01% $15k+

BankMobile Checking Account Rates

1.00%*-$15kVibe Up Checking
OTHER TIERS: 0.01% $15k+

BankMobile is an Internet only bank and does not have branch locations. Its headquarters is located at 99 Bridge St - Phoenixville, PA 19460

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