Customers Bank


Overview / Commentary
610-933-7195
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 Adds Rate Guarantee on Ascent Money Market (2.25% APY) - 10/11/2019

Customers Bank has added a new rate guarantee (June 30, 2020) for its Ascent Money Market Savings Account (2.25% APY). Min opening deposit and min balance is $25k.

Customers Bank Adds Nationwide High-Yield Savings, 2.50% APY - 3/15/2019

Customers Bank (PA) has a new nationally available High-Yield Savings Account (2.50% APY, $25k+). Minimum opening deposit is $25k. Available only online.

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Great Customer Service

Posted by: Maycott9 | Aug 30, 2019

I recently opened an account with Customers Bank and their representatives were extremely helpful in explaining how to use and make transactions through this site. I was very impressed with their customers service team and would recommend this bank for anybody who is looking for a company who has your back and best interest at heart. Thank you!

So Far So Good. Minor Glitches And Complaint....

Posted by: TBT | Oct 30, 2019

I opened an Ascent account in September with a guarantee of 2.25% through June 30 of 2020 (minimum 25K deposit required). I had trouble opening the account online which would not allow me to choose the higher paying Ascent account. It took a conversation with an overseas rep to finally switch me to a rep in Pennsylvania who then opened the online account for me on her end. Both reps were courteous. However, though my balance was transferred into the account and I could view it online, I kept receiving automatic alerts on more then one occasion advising me to finalize the Ascent account and deposit cash into the account. I also received a letter from the bank informing me that the account was opened, but the actual opening date stated was wrong and lead me to think that I was not being credited fully for 2 weeks worth of interest. This kind of confusion caused me to keep calling the banks service reps to make sure all was well and my cash was actually earning interest. Well finally now, all seems to have been finalized and I can see that my cash is there and is earning the interest it's supposed to earn.

My only outstanding complaint is that I wish the bank would post the interest rate on my account page for me to see. Posting the current interest rate that I am being paid is a standard kind of confirmation that every other online bank account I have does provide, and Customer's Bank should do this too. EDITED TO ADD 11-7-19; After I don't know how many visits to my online account, I finally stumbled upon where I needed to click and see the current interest rate they posted to my balance.

Opened An Account

Posted by: ALEXJNJ | May 31, 2019

it was easy to open online for the 2.5% APY however, they can only take $50,000 maximum from an external bank.

Application Denied For Too Many Recent Accounts

Posted by: bluechalk | Oct 31, 2019

My application was denied. Customer service said that it was that I had applied for too many accounts recently.

VIEW MORE REVIEWS

Health
A+

Health Grade Components

Overall
FDIC Certificate #34444
Year Established1997
Employees864
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
Rates
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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
1.95%$25k-High-Yield Savings Account
1.95%$5k-Digital Savings
0.40%$50-Retirement Savings
0.15%--Reserve Savings Account

Customers Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.25%$25k-Ascent Money Market - Online Only
2.00%$250k-Promo Money Market - Hamilton, Yardley, Doylestown, Langhorne Branches Only
1.50%$250k-Promo Money Market - In Branch Only
1.25%*$250k*-Money Market Account
OTHER TIERS: 0.50% Up to $50k | 0.75% $50k - $100k | 1.00% $100k - $250k
0.40%*$25k*-Business Money Market Accounts
OTHER TIERS: 0.20% $1k - $10k | 0.35% $10k - $25k
0.25%--Government Deposit Money Market

Customers Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%--Bonus Checking with POS - Qualifying
1.00%--Commercial Interest Checking
0.25%--Bonus Checking
0.15%--Non-Profit Interest Checking
0.15%--Business Escrow Checking
0.10%--Government Deposit Interest Checking

Customers Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$100k-60 Month DST CD (School and Government Agencies)
2.95%$100k-48 Month DST CD (School and Government Agencies)
2.90%$100k-36 Month DST CD (School and Government Agencies)
2.80%$100k-24 Month DST CD (School and Government Agencies)
2.70%$100k-18 Month DST CD (School and Government Agencies)
2.60%$100k-12 Month DST CD (School and Government Agencies)
2.55%$100k-10 Month DST CD (School and Government Agencies)
2.55%$100k-11 Month DST CD (School and Government Agencies)
2.50%$100k-9 Month DST CD (School and Government Agencies)
2.45%$100k-7 Month DST CD (School and Government Agencies)
2.45%$100k-8 Month DST CD (School and Government Agencies)
2.40%$100k-6 Month DST CD (School and Government Agencies)
2.35%$100k-5 Month DST CD (School and Government Agencies)
2.10%$500-13 Month Promotional CD
2.10%$500-15 Month Promotional CD
2.10%$500-Business 13 Month Promotional CD
2.10%$500-Business 15 Month Promotional CD
2.00%$25k-15 Month Ascent CD
1.95%$500-2 Year CD Special (New Money Only)
1.95%$500-Business 2 Year Promotional CD
1.60%$500-60 Month CD
1.60%$500-Business 60 Month CD
1.35%$500-48 Month CD
1.35%$500-Business 48 Month CD
1.25%$500-36 Month CD
1.25%$500-Business 36 Month CD
1.05%$500-30 Month CD
1.05%$500-Business 30 Month CD
0.85%$500-24 Month CD
0.85%$500-Business 24 Month CD
0.70%$500-18 Month CD
0.70%$500-Business 18 Month CD
0.65%$500-13 Month CD
0.65%$500-Business 13 Month CD
0.60%$500-12 Month CD
0.60%$500-Business 12 Month CD
0.50%$500-9 Month CD
0.50%$500-Business 9 Month CD
0.35%$500-6 Month CD
0.35%$500-Business 6 Month CD
0.25%$500-3 Month CD
0.25%$500-Business 3 Month CD

Customers Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.60%$500-60 Month IRA
1.35%$500-48 Month IRA
1.25%$500-36 Month IRA
1.05%$500-30 Month IRA
0.85%$500-24 Month IRA
0.65%$500-13 Month IRA
0.60%$500-12 Month IRA
0.50%$500-9 Month IRA
0.35%$500-6 Month IRA
0.25%$500-3 Month IRA
Locations

Availability

Philadelphia Area

Interactive local rates map


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.