WesBanco is a West Virginia-based bank that has been featured repeatedly on DepositAccounts.com in the past for checking account promotions. It offers personal and business banking products, as well as wealth management products and services.
WesBanco offers several different checking accounts, including a student account that is simple and easy to maintain and a premium account designed to maximize interest earning potential. The banks’ savings accounts come with monthly maintenance fees unless certain requirements are met. Savings account offerings function similarly to the bank’s money market accounts, but differ as far as initial deposit requirements and interest rate thresholds. Certificates of deposits (CDs) are available in term lengths ranging from 3 to 60 months and are offered in several ways. One CD allows for one higher rate switch if the rates increase during the life of the CD, while another CD allows both a switch to the higher rate and one penalty-free withdrawal. There are term restrictions and other potential requirements associated with the aforementioned CDs. WesBanco offers many similar products on its business banking side, as well as cash management and financing services.
WesBanco online banking is set up on a 3rd party domain and offers customers secure access to their accounts to perform account management activities like fund transfers, bill pay, and Microsoft Money financial management integration for budgeting purposes. The bank has also release a mobile app, making it easy and convenient for customers to access and manage their accounts remotely from their smartphone or tablet devices.
WesBanco was originally established in 1870 as the Wheeling Dollar Savings & Trust Company. In 2000, the bank transitioned to its current name and in 2008 it changed its institution class to an insured commercial bank with the FDIC. WesBanco is headquartered in Wheeling, West Virginia, and serves its customers through numerous branches located in the West Virginia-Ohio region.
Related Posts
5/24/11 - WesBanco’s $129 Checking Account Bonus for Parts of OH, WV & PA
10/28/10 - WesBanco's $220 Checking Account Bonus - Local to WV, OH & PA
7/7/10 - WestBanco's $100 Checking Account Bonus - Local to WV, OH & PA
4/17/09 - $100 Checking Account Bonus (no DD Required) at WesBanco - Only for WV, OH & PA
8/20/08 - $150 Bonus for Student Checking Account at a PA/WV/OH Bank (WesBanco)
6/4/08 - Up to $200 Checking Account Bonus at a PA/WV/OH Bank (WesBanco)
11/21/07 - $180 Checking Account Bonus at a PA/WV/OH Bank (WesBanco)
5/17/07 - $125 Checking Account Bonus at WesBanco (and possibly $200)
11/28/05 - WesBanco $50 Checking Account Deal
Wesbanco/ESB Bank
Wesbanco's customer service is tops. I have been a customer with ESB Bank since the late 80's for my personal and business banking. Before I banked at ESB Bank I was a customer (number) at PNC Bank. Wesbanco has continued the ESB Bank tradition of excellent customer service. Its nice to go to a bank where everyone knows your name and they are always eggar to help.
Wesbanco - the old gray mare ain't what she used to be
The bank I am with used to be the Scott County State Bank. I went with them since I knew their employees and went to school with some of their kids. I have never had a lot to invest but I used their checking and savings and was satisfied. I got decent interest rates. I also used a CD to save for a trip to Mexico. The customer service was great. They have been bought out twice now and each time the products offered seem to be inferior. I ended up moving my savings account to an online bank for better interest rates and may move my checking since there are now fees based on your minimum balance. Customer service is still good but it's not enough to keep my business.
My Wesbanco Experience
I started banking with Wesbanco when they bought out the former small bank I used. My experience with them has been average. When the merge initially happened, the customer service was great. I was able to get my account set up easily on the phone. It did take a while to get a new debit card, but I was still able to use my old one, so that was no issue. I also recall a time when there was fraudulent activity on my card and they called me right away to confirm whether or not the purchase was made by me. It wasn't, and I was thankful for their quick service to insure my money was safe. My biggest issue I've had with Wesbanco surrounds the transfer of funds on weekend hours through the app. There have been several times where the system has been down or I have not been able to see the details of my account online or in the app. I recall a time where I was needing to transfer money over from one checking account to another in order to make a purchase on a Sunday, and when I requested the transfer in the app, nothing happened. It wasn't until Monday that the funds showed up in my account.
Poor Training
The branches I have visited seemed to be doing a poor job of training their new hires. Additionally, some of their banking practices like POD's are behind the times, and they don't publish their CD rates. When you do discover their CD rates, they are generally below average.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 803 |
| Year Established | 1870 |
| Employees | 2503 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.1% |
| Return on Equity - YTD | 7.77% |
| Annual Interest Income | $336.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $17.31B$16.75B |
| Loans | Q2 2023vs Q2 2022 | $11.04B$10.11B |
| Deposits | Q2 2023vs Q2 2022 | $13.14B$13.82B |
| Equity Capital | Q2 2023vs Q2 2022 | $2.44B$2.48B |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $120.2MM$117.4MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $32.9MM$37.6MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $1.3MM$0 |
