Deposits held and insured by Cross River Bank

Overview / Commentary
275 Battery Street, 23rd Floor
San Francisco, CA 94111
Deposits held and insured by Cross River Bank

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Great Experience With No Fees

Posted by: |

I really like the fact that they have no fees I have to worry about. I like how easy it is to look at the cash back rewards that are instantaneously awarded.

Not A Bank...

Posted by: |

From the website:
Upgrade is a financial technology company, not a bank. Checking and savings accounts provided by Cross River Bank.

$5000 Transfer Max

Posted by: |

I just set up the Premier Savings account. Transferred some money from another account (very few are able to be linked), and found out that I could only transfer out a max of $5000 at a time, 3 times within a week. I would have not opened the account if that information was available. I talked to their customer service and they confirmed it. Said it was a new product and they are gradually changing things.

Account Suspended

I use several products from this "bank" including a personal loan, vehicle refinance loan, Upgrade card (crazy rate, don't use!) and their "Rewards Checking". My checking account WAS used simply to transfer money from my primary bank account to this account for use in various securities trading accounts and an eBay account. I haven't used this account since March 2023. In April 2023, the account was "Suspended". No notice, no reason, no nothing. I called and was told that the department that flags accounts is "automated" and cannot be contacted directly. They would internally contact the department and an email would be sent to me concerning the reason for the suspension and next steps. Never got that email. Called again. Same response. Called again. Same response. So basically, they are holding my money hostage with no way of getting back. They are horrible and unprofessional. Stay away!



Data as of Q1 2023

Data displayed below is for insuring bank: Cross River Bank
Learn why bank health matters

Health Grade Components

FDIC Certificate #58410
Year Established2008
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.93%
Return on Equity - YTD7.74%
Annual Interest Income$179.6MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$8.46B$8.88B
LoansQ1 2023vs Q1 2022$6.42B$7.15B
DepositsQ1 2023vs Q1 2022$5.81B$4.51B
Equity CapitalQ1 2023vs Q1 2022$1.07B$784.2MM
Loan Loss AllowanceQ1 2023vs Q1 2022$78.9MM$48.7MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$25.1MM$28.3MM
Real Estate OwnedQ1 2023vs Q1 2022$0$0
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Upgrade Savings Account Rates

5.07%$1k-Premier Savings

Upgrade is an Internet only bank and does not have branch locations. Its headquarters is located at 275 Battery Street, 23rd Floor - San Francisco, CA 94111

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