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

Rate Drop On Ascent MM - 9/24/2020

Just got notice (which is unusual; for most banks) that on October 1 the rate will drop to 0.80 % They still pay 0 % on any account below the $25,000 minimum

New Checking Acct 1% Interest On Balance Over $100K - 9/9/2020

I just got an email about a new Customers' account: Commercial Interest Checking Plus 1% on balances over $100,000. I have an ascent account and so far have been very satisfied with their service.

Ascent MM Savings Rate Drops To 1.10% On Aug. 18, 2020 - 8/11/2020

On Tuesday, August 18, 2020, the APY for all Ascent Money Market Savings accounts will be reduced to 1.10% APY. Minimum balance requirement to earn 1.10% APY is $25,000. Balances below $25,000 earn no interest.

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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).

Process Made Easy!

Posted by: |

I’m very impressed with the assistance provided by customer service at Customers Bank! I was looking to open a new account, but was hesitant to pull the trigger. I had many questions that the customer service representative was able to address & answer with ease & patience to ensure I understood completely in order to make the best decisions. Thank you so much to the customer service team at Customers Bank for making this process easy!

Great Customer Service

Posted by: |

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!

Friendly & Helpful Customer Service

Posted by: |

I just open a savings account here for the 2.40% instead of the 0.05% offered by my bank. I called customer service to have them walk me through opening the account and the person I spoke to was really nice and helpful.

VIEW MORE REVIEWS

Health
B+

Health Grade Components

Overall
FDIC Certificate #34444
Year Established1997
Employees897
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.44%
Return on Equity - YTD5.36%
Annual Interest Income$250.6MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$17.89B$11.18B
LoansQ2 2020vs Q2 2019$15.13B$9.67B
DepositsQ2 2020vs Q2 2019$11.06B$8.20B
Equity CapitalQ2 2020vs Q2 2019$1.10B$1.07B
Loan Loss AllowanceQ2 2020vs Q2 2019$159.9MM$48.4MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$87.0MM$16.5MM
Real Estate OwnedQ2 2020vs Q2 2019$131.00K$1.1MM
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
0.25%$25k-High-Yield Savings Account
0.25%$5k-Digital Savings
0.05%--Reserve Savings Account
0.05%$50-Retirement Savings
0.05%--Business Escrow Savings

Customers Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%$25k-Ascent Money Market - Online Only (New Money)
0.25%*$250k*-Money Market Account
OTHER TIERS: 0.05% Up to $50k | 0.10% $50k - $100k | 0.15% $100k - $250k
0.25%--6 Month Introductory Promo Money Market - New Money
0.15%*$25k*-Business Money Market Accounts
OTHER TIERS: 0.05% $1k - $10k | 0.10% $10k - $25k
0.05%--Government Deposit Money Market

Customers Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%-$100kBonus Checking - New Money
1.00%$100k-Commercial Interest Checking Plus
0.05%--Non-Profit Interest Checking
0.05%--Commercial Interest Checking
0.05%--Business Escrow Checking
0.05%--Government Deposit Interest Checking

Customers Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$500-15 Month Promotional CD
0.75%$500-Business 15 Month Promotional CD
0.35%$500-36 Month CD
0.35%$500-48 Month CD
0.35%$500-60 Month CD
0.35%$500-24 Month CD
0.35%$500-30 Month CD
0.35%$500-Business 24 Month CD
0.35%$500-Business 30 Month CD
0.35%$500-Business 36 Month CD
0.35%$500-Business 48 Month CD
0.35%$500-Business 60 Month CD
0.35%$500-Business 2 Year Promotional CD
0.35%$500-2 Year Promo CD - In Branch Only (New Money)
0.30%$500-18 Month CD
0.30%$500-Business 18 Month CD
0.25%$500-13 Month CD
0.25%$500-12 Month CD
0.25%$500-Business 12 Month CD
0.25%$500-Business 13 Month CD
0.24%$25k-15 Month Ascent CD
0.20%$500-9 Month CD
0.20%$500-Business 9 Month CD
0.15%$500-6 Month CD
0.15%$500-Business 6 Month CD
0.05%$500-3 Month CD
0.05%$500-Business 3 Month CD

Customers Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%$500-36 Month IRA
0.35%$500-24 Month IRA
0.35%$500-48 Month IRA
0.35%$500-60 Month IRA
0.35%$500-30 Month IRA
0.35%$500-Business 24 Month IRA
0.35%$500-Business 30 Month IRA
0.35%$500-Business 36 Month IRA
0.35%$500-Business 48 Month IRA
0.35%$500-Business 60 Month IRA
0.25%$500-13 Month IRA
0.25%$500-12 Month IRA
0.25%$500-Business 13 Month IRA
0.20%$500-9 Month IRA
0.15%$500-6 Month IRA
0.05%$500-3 Month IRA
Locations

Availability

New York Area

Interactive local rates map


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