Customers Bank Offers Ascent MM Savings (2.03% APY) Nationwide


Deal Summary: Ascent Money Market Savings, 2.03% APY, $25k minimum opening deposit, $25k minimum balance to earn stated APY, new money.

Availability: Nationwide through online application

Customers Bank is promoting a new product: the Ascent Money Market Savings Account (Ascent MMSA), which earns 2.03% APY on balances of $25k and above; balances below $25k do not earn any interest. The minimum opening deposit is $25k of new money, with no stated balance cap. The Ascent MMSA must be funded within 30 days of application approval.

2.03%$25k-Customers BankAscent Money Market - Online Only
Rates as of July 22, 2018.

I had hoped there was an introductory rate guarantee period on this new savings account, but there isn’t. Interest will be compounded and credited on a monthly basis. If the Ascent MMSA is closed before interest is credited, the accrued interest will be paid. There is no monthly service fee and the Bank’s $10 incoming wire transfer fee is waived for the Ascent MMSA.

The promotion page contains a FAQ section, which answers most of the commonly asked questions. For example,

The Ascent Money Market Savings Account is not meant for everyday spending. Therefore, ATM cards, debit cards or checks are not issued for this type of account.

To access your funds, visit, click on personal banking login and login using the username and password you created.

There are several ways to fund your new Ascent Money Market Savings account. You may:

    1. Transfer money from your account at another bank. If you are already a Customers Bank customer, you can transfer money from your existing account.
    2. Wire money from your account at another bank.
    3. Write a check. Checks should be made payable to and mailed to: Customers Bank, Attn: Deposit Operations, 99 Bridge Street, Phoenixville, PA 19460.

A very knowledgeable and helpful CSR explained that withdrawals made through ACH transfer are limited to $5k per day and $50k per statement cycle. There are no dollar limits on ACH transfers initiated from another bank. Surprisingly, there is no excess transaction fee assessed if more than six transactions occur in a statement cycle, but you will receive a warning letter. CSR stated that the Ascent MMSA will be closed following the receipt of a third warning letter.

Thanks to the DA reader in California who let me know about Customers Bank’s newest nationally available product.


Headquartered in Phoenixville, Pennsylvania, Customers Bank is offering its new Ascent Money Market Savings Account nationwide to individuals with a valid Social Security number, through its online banking platform.

The Bank is currently marketing the Ascent MMSA in California, but all U.S. citizens and resident aliens are welcome to apply, regardless of residency status.

The Ascent MMSA can be opened as an individual account or as a joint account (with or without survivorship). Trust, fiduciary, or custodial accounts are also available.

While Customers Bank has branch locations in Pennsylvania, New Jersey, and New York, the Ascent MMSA can only be opened online. A U.S. driver’s license, U.S. passport, or state-issued ID is required to open an account.

Bank Overview

Customers Bank has an overall health rating of "B+" at, with a Texas Ratio of 2.77% (excellent) based on March 31, 2018 data. Customers Bank has an above average capitalization level (9.93%), the result of holding $10.76 billion in assets with $1.07 billion in equity. Please refer to our financial overview of Customers Bank (FDIC Certificate #34444) for more details.

Customers Bank is currently the fourth largest bank headquartered in Pennsylvania, with assets in excess of $10.7 billion and more than 1,939,000 customer accounts. Founded in 1997 as New Century Bank, the Bank rebranded in 2011, following the acquisition of USA Bank (NY), ISN Bank (NJ), and Berkshire Bank (PA). According to a June 2018 press release,

Customers Bank, the region’s leading super-community bank with operations in Pennsylvania, D.C., Illinois, New York, New Jersey and New England, has been granted Preferred Lender status under the United States Small Business Administration’s (SBA) Preferred Lenders Program (PLP).

Preferred Lender is the highest level of approval and status that a lender can hold in the SBA loan program. As a Preferred Lender, Customers Bank can now process, close, service and liquidate most SBA-guaranteed loans without SBA review, providing a faster and more streamlined process for financing small businesses.

How the Ascent Money Market Savings Account Compares

When compared to the nationally available Savings accounts tracked by, Customers Bank’s Money Market Savings Account APY currently ranks second, regardless of minimum deposit.

Interest RateAccount NameCredit Union/Bank
2.05% APYUltimate Savings ($25k min)Northpointe Bank
2.03% APYAscent Money Market Savings ($25k min)Customers Bank USA
1.90% APYOnline Savings ($10k min)PurePoint Financial

The above rates are accurate as of 7/3/2018.

To compare the top Savings Account rates, both nationwide and in your local area, please refer to DA’s Savings Accounts rate table.

Related Pages: New York savings accounts, Philadelphia savings accounts, savings accounts, nationwide deals

Reader   |     |   Comment #1
Happy independence day. The last link in this article is dead. It tries to go to which does not work. Also I do not see this bank in the savings or money markets rate tables. If these issues are resolved please delete this comment.
Carpline   |     |   Comment #2
The last link seems to be working now.
Reader   |     |   Comment #5
I now see this bank listed on the savings account page. Directly below the banks name it says "Ascent Money Market - Online Only" So is it a savings account or a money market account? Perhaps it doesn't matter.
Wrr   |     |   Comment #3
There is no 2.03 offered on there webpage
Reader   |     |   Comment #4
Seems odd that they would hide this information from people viewing their webpage. As this article mentioned, there is a "promotion page" that has the details ( ) . Also, this rate is still not listed on DA’s Savings or money market accounts rate table for some reason.
CD and Money Market Specials Continue at Customers Bank in PA, NJ & NY - Local Only

Customers Bank continues to offer good deals on CDs and a money market account. The rates have gone down since my December post, but the rates remain competitive. These specials are listed as January specials in the rate table. Here are the special CD and money market account rates listed on the bank's rates page as of 1/17/2011:

  • 1.75% APY 2-year CD, $500 minimum
  • 1.50% APY 11-month CD, $500 minimum
  • 1.50% APY money market account (1% under $10K)

For those who opened this money market account when the promo rate was higher, you might...

Continue Reading
CD and Money Market Specials Continue at Customers Bank for PA & NJ Residents

Customers Bank continues to offer good deals on CDs and a money market account. The rates have gone down since my September post, but the rates remain very competitive. There's also a new 2-year CD. Here are the special CD and money market account rates listed on the bank's rates page as of 12/20/2010:

  • 2.00% APY 2-year CD, $500 minimum
  • 1.75% APY 11-month CD, $500 minimum
  • 1.75% APY money market account (1% under $10K)

The 11-month CD and money market account yield had been 2.00%. A reader mentioned in the forum that those who...

Continue Reading
Short-Term CD and Money Market Specials at Customers Bank for PA & NJ Residents

As I was working on last Friday's bank failure post, I noticed these specials at Customers Bank. The FDIC arranged for this bank to assume all of the deposits of the failed ISN Bank. As of 9/19/2010, Customers Bank is listing two very competitive specials on its home page:

  • 2.00% APY 11-month CD, $500 minimum deposit
  • 2.00% APY money market account (1.00% under $10K)

The downside with the money market account is that the rate isn't guaranteed to last for any period. Also, there's a $5 monthly fee for balances under $1,000.

The bank...

Continue Reading
2.00% Money Market Account with Rate Guaranteed for 6 Months at New Century Bank in PA - Local Only
New Century Bank has a nice promotion for its money market account. They're guaranteeing 2.00% APY for 6 months with a minimum balance of $50. The offer is scheduled to end on 11/30/09. The promotion is advertised in a big image on the bank's front page. Also, when you open the account, you get a free Snuggie.

The regular money market rates are listed at the bank's rate table, and the rates are low with a maximum rate of 1.09%. So this is probably not a good long-term deal.

A branch visit...

Continue Reading
4.39% 12-Month CD at ISN Bank - Nationally Available
Update 11/20/08: The CD rates have fallen. Please check the bank's website for the latest rates and specials.

ISN Bank has another attractive rate on its certificates of deposit. This new one is a 12-month CD with a yield of 4.39% APY. It's still offering a 6-month CD with a yield of 4.18% APY which I first reported on in late October. Both have a minimum deposit of $1,000, and these are also available in an IRA.

In June, I called the bank and confirmed that accounts are available to people in...

Continue Reading

More Past Offers

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 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.