Customers Bank


Overview / Commentary
866-476-2265
99 Bridge St
Phoenixville, PA 19460

Customers Bank is a mid-sized, Pennsylvania-based bank that offers personal and business banking depository and loan products and services. The bank has been in recognized in the past by DepositAccounts for its money market specials.

Customers Bank’s checking account offerings feature a free option that has no minimum balance requirement or monthly fees, and another option that has a minimum account balance requirement but also refunds an ATM fee incurred in the United States. The bank’s savings account usually offers a competitive interest rate that, along with its money market account offering, targets consumers looking to maintain liquidity while experiencing some sort of return. Limited Certificate of Deposit (CD) options are available and the bank is currently offering a 12-month term length. Customers Bank’s Visa debit card gives consumers an opportunity to earn cash back on their every day spending. On the business banking side, checking accounts and commercial lending enable the bank to provide solutions for different businesses.

Customers Bank online banking provides a web-based platform for customers to utilize budgeting and financial management tools powered by Intuit. Account holders can also use the online banking system to pay bills, transfer funds, check balances, and deposit checks. The bank’s mobile apps also create a way for these tasks to be completed via a smartphone while on the run. These online platforms also come with an added layer of security provided by the bank.

Customers Bank was originally established in 1997 as New Century Bank. The bank changed its name in 2011 and is headquartered in Phoenixville, Pennsylvania. It serves its customers through multiple branches across several states.

Related Posts

Customers Bank High-Yield Digital Savings 3.05% APY Is Now Live - 10/13/2022

Customers Bank's brand-new High-Yield Digital Savings account went live today. The rate is 3.05% APY, with that 3.05% rate guaranteed through April 30, 2024. Important: In order to earn interest in this new account, one must keep open a Customers Bank checking account. From their site: "Annual Percentage Yield (APY) as of 10/12/2022. This is a variable rate account and the APY and interest rate is guaranteed through April 30th, 2024. $0.01 minimum balance required to open the account. Must have an open Customers Bank consumer checking account in order to earn bonus APY of 3.05%. If the customer does not have an open checking account at Customers Bank while the High-Yield Digital Savings account is open, the account will earn 0.00% APY. Applicable for consumers only. Fees could reduce earnings on the account. Offer may be withdrawn at any time."

Customers Bank Max Savings Rate Increased To 3% APY - 10/8/2022

Customers Bank Max Savings interest rate increased from 2.75% APY to 3.00% APY today. One must open this account via the service called Max. Max does not have to be involved regarding your direct dealing with Customers Bank and your account after your account is opened. (You have your own account number at Customers, and your own online banking user name & password.)

Customers Bank (CB) Max Savings 2.75% APY - 9/22/2022

https://www.customersbank.com/consumer-disclosures/

View all posts from:

10/11/19 - Customers Bank Adds Rate Guarantee on Ascent Money Market (2.25% APY)
3/15/19 - Customers Bank Adds Nationwide High-Yield Savings, 2.50% APY
8/4/18 - Customers Bank Ups Ascent Money Market Savings Rate
7/3/18 - Customers Bank Offers Ascent MM Savings Nationwide
1/8/18 - Customers Bank Announces Bonus Checking Earning 2.00% APY Following Passage Of Tax Reform Bill
3/19/14 - Trendwatch: Mobile-Centric Bank Among First In The U.S.
5/24/11 - Customers Bank's New-Branch Money Market Special At Hamilton NJ
2/27/11 - CD Rate Drop At Customers Bank
1/23/11 - USA Bank, Re-Established Branch Of Customers Bank?
1/17/11 - CD and Money Market Specials Continue at Customers Bank in PA, NJ & NY - Local Only
12/20/10 - CD and Money Market Specials Continue at Customers Bank for PA & NJ Residents
11/4/10 - 2.00% Money Market Special Continues At Customer Bank In PA & NJ
11/4/10 - 2.00% 11-Month CD Special Continues At Customer Bank In PA & NJ
10/15/10 - Local 2% APY 11 Month CD And 2% APY Money Market @ Customers Bank (2755)
10/15/10 - Local 2% APY 11 Month CD And 2% APY Money Market @ Customers Bank
9/19/10 - Short-Term CD and Money Market Specials at Customers Bank for PA & NJ Residents
11/25/09 - 2.00% Money Market Account with Rate Guaranteed for 6 Months at New Century Bank in PA - Local Only
11/20/08 - 4.39% 12-Month CD at ISN Bank - Nationally Available
10/30/08 - 4.18% 6-Month CD at ISN Bank - Nationally Available
7/16/08 - 4.10% 6-Month CD at ISN Bank - Nationally Available
6/16/08 - 3.82% 6-Month / 3.77% 3-Month CD at ISN Bank - Nationally Available

Gain More Interest

Posted by: |

Everyone is right but making massive goal is the key to unlimited success said SmithTrustBK. Never the less they also have good interest rate.

Confusing Bank To Deal With

Posted by: |

The only reason to be with them is their good rate right now (August 2018). Every time I call their customer service with a question, I get an overseas person who I can barely understand. Why does a Pennsylvania bank have an overseas customer service department??
Also, why is the ACH policy so darn ridiculous. Would anyone deal with a local bank that had crazy limits (5k per day) on your deposits and withdrawals? NO!!!!

Apiration Is A Scam

I called in 4 times to stop the deposits from my external account. I also needed to dispute a transaction.
Each time I called they said the last 4 digits did not match the number on file. They asked me to submit
my social security card. That was provided. I was then told it would take 48 hours before the
information would be processed. I spoke to a woman named Jesse who would not listen to my issues,
she kept cutting me off, and she repeatedly threatened to disconnect the call she was laughing on the
call. and then hung up on me. On the 3 other calls, I was dealing with people who did not speak clear
English and seems incapable of handling the issues I was having. On all 4 occasions, they all refused to
transfer me to a manager. This bank seems like they are preventing customers from accessing their
money and preventing customers from stopping external accounts. I have been trying for a month to
remove the external account each time the message on the computer says the account can't be removed
because a deposit is in process. This company is unprofessional. I explained over and over there might
be another account they would not allow me to give them my account information to check or anything.
I bank with other banks and they find other means to verify accounts. Ths bank needs to be required to
have qualified people addressing these matters and a manager should be available. The companies
FINRA CRD # 291904 and the SEC# 8-70066

Amazing Customer Service...

Posted by: |

I created an account just to say the customer service at this bank has been top notch. Yes, you have to get past the call center to talk to actual bank employees, but then the service is outstanding.

I appreciate the reviews that mentioned the withdrawal limits, so I plan to initiating all transactions from an external account to get around the limits.

I'll update if I run into any issues, but so far... smooth sailing (and a great rate).

VIEW MORE REVIEWS

Health
A

Data as of Q2 2022

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #34444
Year Established1997
Employees692
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.44%
Return on Equity - YTD19.3%
Annual Interest Income$379.2MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$20.24B$19.66B
LoansQ2 2022vs Q2 2021$15.51B$16.84B
DepositsQ2 2022vs Q2 2021$17.03B$13.96B
Equity CapitalQ2 2022vs Q2 2021$1.47B$1.35B
Loan Loss AllowanceQ2 2022vs Q2 2021$156.5MM$125.4MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$28.7MM$47.1MM
Real Estate OwnedQ2 2022vs Q2 2021$35.00K$35.00K
Rates
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Customers Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Customers Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.05%--High - Yield Digital Savings
1.00%$50-Retirement Savings
0.75%$25k-High - Yield Savings Account
0.75%$5k-Digital Savings
0.25%--Reserve Savings Account
0.25%--Business Escrow Savings

Customers Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$250k*-Money Market Account
OTHER TIERS: 1.00% Up to $50k | 1.10% $50k - $100k | 1.25% $100k - $250k
1.50%$25k-Ascent Money Market - Online Only
1.00%--Government Deposit Money Market
0.75%*$25k*-Business Money Market Accounts
OTHER TIERS: 0.40% $1k - $10k | 0.50% $10k - $25k

Customers Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%--Interest Checking
1.20%-$100kBonus Checking - New Money
0.35%*$100k*-Commercial Interest Checking Plus
OTHER TIERS: 0.05% Up to $100k
0.25%--Non-Profit Interest Checking
0.25%--Government Deposit Interest Checking
0.05%--Commercial Interest Checking
0.05%--Business Escrow Checking

Customers Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.50%$1k-20 Month CD
2.00%$500-Business 2 Year Promotional CD
2.00%$500-2 Year Promo CD - In Branch Only (New Money)
1.75%$500-18 Month Promotional CD
1.50%$25k-18 Month Digital CD
1.25%$500-18 Month CD
1.25%$500-Business 18 Month CD
1.00%$500-12 Month CD
1.00%$500-48 Month CD
1.00%$500-60 Month CD
1.00%$500-Business 12 Month CD
1.00%$500-Business 48 Month CD
1.00%$500-Business 60 Month CD
0.95%$500-15 Month Promotional CD
0.95%$500-Business 15 Month Promotional CD
0.90%$500-36 Month CD
0.90%$500-24 Month CD
0.90%$500-30 Month CD
0.90%$500-Business 24 Month CD
0.90%$500-Business 30 Month CD
0.90%$500-Business 36 Month CD
0.75%$500-9 Month CD
0.75%$500-Business 9 Month CD
0.65%$500-6 Month CD
0.65%$500-Business 6 Month CD
0.60%$500-3 Month CD
0.60%$500-Business 3 Month CD
0.24%$25k-15 Month Ascent CD
0.20%$500-13 Month CD
0.20%$500-Business 13 Month CD

Customers Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%$500-18 Month IRA
1.00%$500-12 Month IRA
1.00%$500-48 Month IRA
1.00%$500-60 Month IRA
1.00%$500-Business 48 Month IRA
1.00%$500-Business 60 Month IRA
1.00%$500-Business 12 Month IRA
0.90%$500-36 Month IRA
0.90%$500-24 Month IRA
0.90%$500-30 Month IRA
0.90%$500-Business 24 Month IRA
0.90%$500-Business 30 Month IRA
0.90%$500-Business 36 Month IRA
0.75%$500-9 Month IRA
0.75%$500-Business 9 Month IRA
0.65%$500-6 Month IRA
0.65%$500-Business 6 Month IRA
0.60%$500-3 Month IRA
0.20%$500-13 Month IRA
0.20%$500-Business 13 Month IRA
Locations

Availability



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.