APY |
Account Type |
Account Name |
Compare Rates from Similar Accounts |
||
---|---|---|---|---|---|
2.50% |
CD Rates |
Banesco USA 12 Month CD |
2.55% |
Goldman Sachs Bank USA High-yield 12 Month CD |
on Goldman Sachs Bank USA’s secure website Member FDIC |
2.65% |
CD Rates |
Banesco USA 24 Month CD |
2.65% |
American Express National Bank 36 Month CD |
on American Express National Bank’s secure website Member FDIC |
2.70% |
CD Rates |
Banesco USA 36 Month CD |
3.00% |
American Express National Bank 60 Month CD |
on American Express National Bank’s secure website Member FDIC |
Simply put, Banesco USA’s checking accounts fall way short compared to other online banks. Their rates are significantly lower than their peers, some of which offer rates 5 to 10 times those at Banesco USA. In addition, many competitors are also offering other perks, such as no monthly maintenance fees, free checks and ATM fee refunds.
Considering you can only open this account in person, you’re better off picking a bank from our list of the current best checking account rates.
As far as rates go, Banesco USA is on par compared to our list of the current best savings accounts rates. This account doesn’t require a high opening deposit and offers you a way get ATM access if you link it to your checking account.
However, other online banks have no minimum balances and no monthly maintenance fee. Banesco USA’s is pretty steep at $15. As well, you can only open this account in person which is the major downfall. Unless you live near one their branches, you’ll need to look elsewhere.
The certificates of deposit offered by Banesco USA pay a decent rate, just under the top rates currently on our list of the current best CD rates. Combined with the easy online application process, these CDs could be an option worth exploring.
Even with promo rates, the money market account could be much lower than some of its online competitors. Many on our list of the best money market accounts have low minimum opening deposits, no monthly maintenance fees and rates twice to three times the amount you see here. Yes, you do get limited check writing capabilities, but so do some other banks. The bottom line: You’re better off looking elsewhere.
2.15%
APY
Details
2.02%
APY
Details
1.90%
APY
Details
0.90%
APY
Details
* Sponsors listed are Member FDIC or NCUA insured.
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Source: https://www.magnifymoney.com/blog/reviews/banesco-usa/