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 Ascent Rate 1.25% Effective 7/1/20 - 6/24/2020

The new rate was announced today (6/24/20) and is guaranteed only until the end of July. The $25K minimum balance requirement to earn interest on this account remains in place.

Customers 2.25% Rate To Drop Soon. But How Far? - 6/10/2020

In a little over 2 weeks this rate will plummet. But how low will they go? Bank officials are obviously aware that millions in assets will be transferred out by 7/16/20. Let’s see what they do.

Customers Closes 2.25% Ascent MMkt To New Customers - 2/3/2020

Just emailed: Thanks to you and people like you, we have generated more than $1 billion in deposits with this product. That’s money we’re putting to work to fund loans for business expansions all across America. You’re fueling economic growth, jobs, and the American Dream. We feel like you’re a part of the team now and we want to tell you about a recent update that supports our plans for growth and diversification. At the current time, we are no longer accepting applications for NEW Ascent Money Market Savings Accounts. Be assured that there is no impact on your current Ascent Money Market Savings account. You will continue to earn 2.25% APY* through June 30, 2020 as long as you maintain a minimum balance of $25,000 or more. You can add additional funds to your account enjoying that same great rate. And you can, as needed, make withdrawals and transfers up to the legal limit of six withdrawals per statement cycle. And, as we near the end of the rate guarantee we will be completely t

View all posts from:


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

Posted by: |

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.

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!!!!

Slow And Bad Bank

This bank is very slow. No way to contact them and when they email you, they take 5-7 days to reply and fullfil a simple request. Would never recommend this bank at all. Chase , capital one are much much better and care about their customers. they hold your funds and dont even explain why its pending. Worst customer service as well. Do not go to this bank. Instead go to chase. Much better and straight forward.

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

Health Grade Components

Overall
FDIC Certificate #34444
Year Established1997
Employees867
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.77%
Return on Equity - YTD7.59%
Annual Interest Income$463.7MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$11.51B$9.83B
LoansQ4 2019vs Q4 2018$9.99B$8.51B
DepositsQ4 2019vs Q4 2018$8.71B$7.16B
Equity CapitalQ4 2019vs Q4 2018$1.18B$1.06B
Loan Loss AllowanceQ4 2019vs Q4 2018$56.4MM$40.0MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$23.5MM$29.9MM
Real Estate OwnedQ4 2019vs Q4 2018$173.00K$816.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Customers Ascent Rate 1.25% Effective 7/1/20

  |  
The new rate was announced today (6/24/20) and is guaranteed only until the end of July. The $25K minimum balance requirement to earn interest on this account remains in place.

Customers 2.25% Rate To Drop Soon. But How Far?

  |  
In a little over 2 weeks this rate will plummet. But how low will they go? Bank officials are obviously aware that millions in assets will be transferred out by 7/16/20. Let’s see what they do.

Rates

Rates for Customers Bank are currently being reviewed.

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.