Customers Bank: Tailored Financial Solutions for Individuals
Overview
Customers Bank, established in 2009, is a regional bank headquartered in Malvern, Pennsylvania. It caters to entrepreneurs, small businesses, and individuals, providing a comprehensive range of financial services.
Personal Banking Products and Services
* Interest Checking: No minimum balance requirement, competitive interest rate, and access to surcharge-free Allpoint ATMs.
* Yield Shield Account: High-yield savings account with competitive rates, adjusting to federal funds rate. $25,000 minimum opening deposit and balance requirement.
* Certificates of Deposit (CDs): Multiple CD options with terms ranging from 3 to 60 months. $500 minimum deposit, penalty for early withdrawals.
* Personal Loans: Fixed-rate loans from $5,000 to $50,000 for debt consolidation or major purchases. Prequalification available online, funding available same-day.
* Mortgage Loans and Refinancing: Conventional, FHA, VA, and jumbo mortgages and refinancing options. Prequalify online and work with a loan officer.
Fees and Charges
Customers Bank charges no fees for Interest Checking and online savings accounts. However, other potential fees include:
* Early withdrawal penalty for CDs
* Insufficient funds fees for checking accounts
* Wire transfer fees
* Notary fees
Pros and Cons
Pros:
* Competitive interest rates on savings products
* No minimum balance for Interest Checking
* 7-day phone support
* Access to Allpoint ATMs
Cons:
* Minimum balance requirements for certain accounts
* Limited physical branch availability
* Lower mobile banking app ratings
Customer Service and Mobile Banking
Customers Bank offers phone support seven days a week from 8 a.m. to 11 p.m. ET. The mobile app provides account management, mobile check deposit, and person-to-person transfers.
Contact Information
* General contact address: 40 General Warren Blvd Suite 200, Malvern, PA 19355
* Personal Banking: 1-866-476-2265
* Business Banking: 1-833-595-0618
Frequently Asked Questions
* Is Customers Bank FDIC-insured? Yes, FDIC-insured up to $250,000 per depositor.
* What is Customers Bank's routing number? 031302971
* How big is Customers Bank? Over $22 billion in assets
* Does Customers Bank have physical locations? Yes, in 10 states: CO, IL, MA, NH, NJ, NY, NC, PA, RI, TX