BankUnited is a publicly traded bank listed on the NYSE (Symbol:BKU). It is involved in a wide range of banking activities that focus on the business, consumer, and commercial needs of the coastal regions of the state of Florida.
On its personal banking side, BankUnited offers deposit accounts and loans. Checking accounts all include a debit/ATM card, free online banking and Bill Pay, free direct deposit, and telephone banking. The bank offers several different Savings and Money Market accounts that differ by minimum opening deposit and daily balance requirements. BankUnited also makes Certificates of Deposit available that function as time deposits that vary in terms from 12 to 36 months. The bank’s CDs have been featured repeatedly in the past on DepositAccounts.com. BankUnited also offers private banking services to corporate entities and individuals looking for guidance on and access to things like insurance and investment planning. On its business banking side, the bank makes similar deposit accounts available.
BankUnited online banking provides customers with the ability to manage multiple accounts at the bank, pay monthly bills, track expenses by category, and transfer funds between BankUnited accounts. The bank has also released a mobile app to make banking on the go convenient for customers on smartphone or tablet devices.
BankUnited was founded in 2009 and is headquartered just outside Miami in Coral Gables, Florida. It operates through multiple branches located predominantly in the Florida region.
I have been a client of BankUnited for 14 years. Maybe I am the exception, but I have only had great service. I don't understand all this negativity. Tellers have been friendly, monthly statements on my two act.s are accurate, checks have been comped, local branch just a couple blocks from my home in Ft Lauderdale so convenient, a great local banking experience, This from someone who worked for
both Chase and Citibank. And forget about Wells Fargo and Bank of America!
In February of 2020, our CD at Bank United came due. Rather than roll it over, we went to the bank and spoke with a bank representative. In that the CD rates were lower than their 6 month promotional money market rate of 1.75%, we opted to deposit the entire amount of the CD in the money market account, being assured we could do so at the promo rate. In March, another CD from a different institution came due and we went back to Bank United. We were told that these funds could also be added to our promotional money market account at the same rate. It would take a phone call for approval but it should be no problem in that it had been done for many other customers. We made the deposit and later verified on our online banking account that all of our funds were now in the 6 Month Promotional Money Market Account. However, due to the distraction of the pandemic, we failed to verify the rate of interest being accrued on our monthly statements. In June, we discovered that this account (of over $68,000) from the very start was only earning .036% interest and was now only earning 0.1% interest. When we brought this error to Bank United's attention, we were advised that we had made the mistake of not notifying them of it sooner. They agreed to pay a "courtesy payment" of two months at the promo rate but said our account would now accrue interest at the 0.1% rate. They also attempted to shift blame onto us by saying that we had been uncertain as to what we wanted to do with this money (NOT TRUE) and that they were doing us a favor. Needless to say, this was either a gross error on their part or they are running some type of scam on senior citizens. Therefore, we have closed our account with them. Be forewarned.
Opened a money market account after some delay and frustration it was OKed on 1/30/20 at 2.00%. A few weeks later it was reduced to 1.75%, and a few weeks later reduced again to 1.4%. This an outright scam, now I have to wait the 180 days from the opening date to close the account. Hopefully I will be able to recover my money without additional problems.
|FDIC Certificate #||58979|
|Return on Assets - YTD||0.35%|
|Return on Equity - YTD||3.94%|
|Annual Interest Income||$561.2MM|
|Assets and Liabilities|
|Assets||Q2 2020vs Q2 2019||$34.62B$33.01B|
|Loans||Q2 2020vs Q2 2019||$23.57B$22.70B|
|Deposits||Q2 2020vs Q2 2019||$26.43B$24.11B|
|Equity Capital||Q2 2020vs Q2 2019||$3.03B$3.08B|
|Loan Loss Allowance||Q2 2020vs Q2 2019||$266.1MM$112.1MM|
|Unbacked Noncurrent Loans||Q2 2020vs Q2 2019||$146.6MM$102.1MM|
|Real Estate Owned||Q2 2020vs Q2 2019||$3.1MM$10.0MM|
Always verify rates and promotions with the bank or credit union. We are not BankUnited; we are a rate comparison website and cannot provide official rates or promotions.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.80%||-||$250k||Vertical Rewards Checking- After first 90 Days w/ Direct Deposit and 7+ Qualifiers|
|0.70%||-||$250k||Vertical Rewards Checking - First 90 Days|
|0.50%||-||$250k||Vertical Rewards Checking- After first 90 Days w/ Direct Deposit and 4-6 Qualifiers|
|0.20%||-||$250k||Vertical Rewards Checking- After first 90 Days w/ Direct Deposit and 1-3 Qualifiers|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.50%||$1k||-||12 Month CD Special|