Webster Bank was founded in 1870 as Bristol Savings Bank in Bristol, Connecticut. Now based in Waterbury, Connecticut, Webster Bank offers a complete range of financial services to customers throughout the northeastern United States. Its banking centers are located from Boston to greater New York City.
Webster Bank’s personal deposit accounts include checking accounts, savings accounts, money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs). In addition to interest bearing checking accounts that offer perks related to loan rates, CD rates, and access to special savings accounts, the bank provides checking accounts for students and for those with poor banking history. Webster Bank also offers savings accounts for special purposes (like holiday spending) and tax-advantaged Health Savings Accounts (HSAs), which can be used to pay for qualified medical expenses. Its money market accounts do not require a separate checking account to open, and they yield better interest rates with larger account balances.
As for CDs, Webster Bank offers traditional CDs with terms ranging from 1 year to 5 years. It also provides short term CDs with penalty-free monthly withdrawals, as well as bump-up CDs, which offer the opportunity to increase the CD rate once during the term. Webster Bank also provides both Traditional and Roth IRA products, and some of its CD options are available as IRAs.
Webster Bank also offers business checking accounts, business savings accounts, business money market accounts, and business CDs. Its business checking accounts offer a variety of perks, some of which are related to being able to open other business accounts for free. Furthermore, the bank offers specific checking accounts for law firms (IOLTA and IOLA) and real estate brokers (IOREBTA). In addition to its business savings accounts, Webster Bank also provides Health Savings Account (HSA) options for employers, in collaboration with the corporation’s insurance company. Webster Bank’s business money market accounts yield tiered interest rates, depending upon the account balance, and they require a business checking account to open. Finally, the bank’s business CD options range in terms from 1 month to 60 months, although it also offers flexible, short-term “Jumbo” business CDs for large deposits.
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2/27/08 - $100 Checking Account Bonus at Webster Bank
Friendly and generous service from webster bank
I have been a Webster client for...about 15 years now and although I hear about many horror stories from my family and friends about their experiences with their own personal banks, I have nothing but good things to say about Webster bank. I cannot even count how many times I have overdrafted my account and had the fee's returned to me the next day. The service is speedy and courteous. Any time I had a major concern would needed to go in to speak with their representatives, I am always met with extremely professional care. Although I know they are businessmen at heart, they do a great job of making it seem that your satisfaction is their primary concern. In conclusion I would recommend them over just about any other bank I see no reason not to stay with them forever.
How I Was Able To Get It Back
SCAM !! beware from them I lost all my savings to this company, trick me into investing with them hoping for a great return which all turn out to be lies. I feel so much pain when I realized they have no intention of keeping their problems. I am telling you for free to stay far far from here and never engage yourself because it's not worth investing in ; this web should be shut down by the authorities, help prevent others away from this site before they got ripped too and those who're ready victims like myself to contact; nick jover 4 @ gmaiI com to get rightful justice and a refund as well. NOTE : STAY AWAY FROM THIS COMPANY.....
Debit Card
About 2 years ago when everyone was issued card with chips, my chip didn’t work from the moment I activated the card. In most places, after some drama about removing and inserting it 3-5 times, you are allowed to swipe. In some places, if the chip doesn’t work you can’t use that card. I called immediately and was told I would be sent a new card. I never got it. I’ve been getting by with swiping my card most of the time until now, when my card is old and worn out and no longer swipes. I called for a replacement card only to be told one was already being sent. I told the woman multiple times that card was sent years ago, I haven’t requested another since then, and I never even received it nor activated it. She kept insisting it wouldn’t be in the system for that long until she eventually contacted someone else who said it was “a hiccup in the system and we pushed another card through” and she assured me I could still use my old card until I got the new one in 5-7 business days and activated it. I went to use the card and it was declined. I called again to get a man who not only did not apologize, but just kept saying “well this shouldn’t happen” as if that helps the situation at all. He told me I was free to apply for the credit card in the mean time or I could go to a branch and get an ATM card. I work 3rd shift and have no choice but to sleep during banking hours or I will not be able to function at my job. It’s been since Saturday evening with no access to my checking account at all, and I didn’t even get so much as an apology from customer service.
BEWARE - Believe Every Review Here!
They made my home purchasing process MISERABLE from the minute I signed my sales contract through the closing. Constantly waiting till the last minute for requests from underwriting and ZERO transparency about the process, deadlines, or what was specifically needed and when. I absolutely regret utilizing them.
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 18221 |
| Year Established | 1870 |
| Employees | 4131 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.24% |
| Return on Equity - YTD | 10.34% |
| Annual Interest Income | $3.64B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $74.88B$71.17B |
| Loans | Q4 2023vs Q4 2022 | $50.1B$49.17B |
| Deposits | Q4 2023vs Q4 2022 | $61.19B$54.36B |
| Equity Capital | Q4 2023vs Q4 2022 | $9.13B$8.57B |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $635.7MM$594.7MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $196.1MM$182.8MM |
| Real Estate Owned | Q4 2023vs Q4 2022 | $102K$2.3MM |
