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Friendly and generous service from webster bank

Posted by: Farbey | Jan 11, 2015

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.

Stellar All Around

Posted by: User0 | Apr 8, 2012

Meriden branch has consistently gone above and beyond in terms of service and accomodations on checking, savings, ancillary issues. Presently moving our accounts from troubled, non-responsive BofA to Webster.

Good Rates for a CD

Posted by: hahaha | Dec 28, 2014

I was pleased with my overall experience with Webster Bank. I had a fixed term CD here. The rate was very competitive with other local banks. I had some profit from a real estate transaction and wanted to get some interest on the money before reinvesting. I did a six month CD and was pleased with the rate and interest I made. I also use Webster Bank for a free checking account since I had my CD there. I use it in conjunction with PayPal for eBay transactions. I have never had a problem with using the checking account. Any tellers I have worked with at the bank have been pleasant and helpful. I don't find their website to be the most user friendly, however. For me, it is a bit slow. Here, I actually prefer to do my banking in person. I would recommend this bank.

Dishonest Policies

I got a Webster checking account with my loan in a plan to swap over from Bank of America. After digging into details and limitations of their online banking, my wife and I decided against it, but kept the checking account open with a specific balance to keep our loan rate down.

After paying off our loan, we reduced the account to 0 and tried (and failed) to close the it, not being able to get to a bank together.

We finally have time to close it, and find almost $100 in fees. Apparently, they charged us *one* service fee for not having a minimum balance, then started piling daily $5 "Overdraft Fee" hits.

When we called to contest it, we were told not-too-politely that this is the fine-print of the policy, and that our account would be put into collections if we did not pay it off. So from a zero-debt checking account, they're now attempting to extort $100 in junk daily fees. Having worked for a collection company before, I know that banks have an agreement over DDA overdraft collections, that no bank will let you open a checking account if you have any other checking account in DDA collections, even if contested.

No escalation routes, no nothing. Pay us money we have no right to demand, or we will ruin your credit and prevent you from opening bank accounts with other banks.

I will have a BBB complaint pending as of this weekend. This is a warning to everyone. DO NOT BANK WITH WEBSTER. They're buried in the kind of malicious fine print that won't stand up in court because they know they don't have to go to court.

Please, anyone who reads this, stay away from this terrible bank. They're not the great bank they were 10 years ago.

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Health
A

Health Grade Components

Overall
FDIC Certificate #18221
Year Established1870
Employees2942
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.97%
Return on Equity - YTD9.88%
Annual Interest Income$764.6MM
Assets and Liabilities
AssetsQ4 2015vs Q4 2014$24.67B$22.51B
LoansQ4 2015vs Q4 2014$15.53B$13.81B
DepositsQ4 2015vs Q4 2014$18.24B$15.93B
Equity CapitalQ4 2015vs Q4 2014$2.35B$2.25B
Loan Loss AllowanceQ4 2015vs Q4 2014$175.0MM$159.3MM
Unbacked Noncurrent LoansQ4 2015vs Q4 2014$132.9MM$127.6MM
Real Estate OwnedQ4 2015vs Q4 2014$5.0MM$6.4MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Webster 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.

Webster Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$100k*-Premier Savings
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.20% $25k - $50k | 0.25% $50k - $100k
0.20%*$100k*-WebsterOne Savings
OTHER TIERS: 0.05% Up to $25k | 0.15% $25k - $100k
0.02%--Webster Value Savings
0.02%--Holiday Club Savings
0.02%$300-Webster Business Value Savings

Webster Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$100k*-Premier Business Money Market
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.15% $25k - $50k | 0.20% $50k - $100k
0.20%*$100k*-Premium Money Market
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.15% $25k - $100k
0.15%*$25k*-Business Money Market
OTHER TIERS: 0.05% Up to $25k

Webster Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.02%*$50k*-Premier Checking
OTHER TIERS: 0.01% Up to $50k
0.01%--WebsterOne Checking

Webster Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%$1k-5 Year CD
1.75%$1k-4 Year CD
1.25%$1k-3 Year CD
1.00%$1k-2 Year CD
1.00%$1k-3 Year Bump Up CD
0.75%$1k-18 Month CD
0.50%$1k-1 Year CD
0.05%$1k-6 Month Liquidity CD
Locations

Webster Bank has 178 locations. Click to view all Webster Bank locations.