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Banesco USA VS CommunityWide FCU

Which bank is better for you?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
2.02%APY
Savings/MMA
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Pros:

  • Low opening amounts for most accounts
  • Good variety of accounts available
  • Competitive interest rates on accounts
  • Options to contact customer service

Cons:

  • Cannot open all accounts online
  • Accounts have monthly fees
  • MMA have high opening amounts
  • Tiered interest rates on some accounts
  • Financial Rates: 5.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon
No Rate Information
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Pros:

  • Accounts offer competitive rates
  • Low opening amounts for most accounts
  • Variety of accounts offered
  • Funds Savings Account

Cons:

  • Must join the credit union first
  • CDs have high opening required amounts
  • No ATM fee reimbursement
  • Checking account has a monthly fee
Banesco USA Review

Most Banesco USA accounts have low opening required amounts. The personal deposit checking and savings accounts only require $100 to open. The personal deposit CDs require $1,500 to open.

Banesco USA has a good variety of accounts. They offer personal checking, savings, and money market accounts. They offer personal and business CDs with terms from 3-months to 60-months. They offer business checking, savings, and money market accounts. Banesco offers personal and business international banking accounts, along with lending options.

The Banesco USA accounts offer competitive interest rates. The rates are competitive with other online accounts. The rates are much higher than typical bank rates.

There are a variety of ways to contact customer service. You can call during business hours or can have Banesco call you. You send an email, and customer service will call you. You can visit a local branch location or follow Banesco on social media. You can access account information anytime through BanescoVoice or logging in online.

Not all Banesco USA accounts can be opened online. To open their checking accounts, you must contact customer service. Other accounts may not be able to open online. Personal deposit money market and savings accounts can be opened online. Personal deposit CDs are also able to be opened online.

Most Banesco USA accounts have monthly fees. The fees range from $5 to $15 each month. To waive the fees, you must keep a set account balance in the specific account. This balance is not a combination of Banesco USA accounts. Those balances range from $100 to $2,500 depending on the account.

The Banesco USA money market accounts have high opening required amounts. Each of the personal deposit money market accounts require $2,500 to open. You must keep that amount in the accounts to avoid a monthly fee. If the amount falls below $2,500, the fee is between $5 to $15 per month.

Some Banesco USA accounts have tiered interest rates. The BanesFlex money market account requires $2,500 to earn any interest. But, to earn the most competitive rate offered you must have $100,000 in the account. Balances under this amount earn a much lower rate. The BanesGrown savings account only requires $300 to earn the most competitive rate.

Read the full Banesco USA review.

CommunityWide FCU Review

Accounts at CommunityWide offer competitive interest rates. The rates are competitive with other online accounts. CommunityWide rates are much higher than typical bank rates. Their rates are not tiered. Any balance above the required amount earns competitive interest rates.

Most CommunityWide accounts have low opening required amounts. The savings accounts require $5 to open. The checking accounts requires $15 or $25 to open. To earn interest on these accounts you must have $500 in the account, but not to open the account.

CommunityWide offers a wide variety of accounts. They offer personal savings and checking accounts, and CDs. Their CD terms range from six months to five years. They offer IRA accounts, auto loans, personal loans, and other types of loans.

A Funds Savings Account is available through CommunityWide. This account acts as a savings account but earns a higher interest rate. Members can only withdraw money deposited in the account at specific times. You can choose whether to withdraw the money monthly or quarterly. Money can be deposited into the Funds Savings Account anytime.

Before you can open an account with CommunityWide, you must become a member of the credit union. To be eligible to join you must have worked for a certain company or be a spouse of someone who has. Members of certain organizations are eligible. Immediate family members of CommunityWide members qualify to open an account. Once you qualify, you must present a valid government issued ID and your social security number to open an account.

To open a CD with CommunityWide has a high opening required amount. Each of the CD terms requires $2,000 to open. The CDs ranges from six-month terms to sixty-month terms. Each term offers a competitive interest rate.

CommunityWide Federal Credit Union does not offer ATM fee reimbursement. They offer over 30,000 ATMs that are free for members to use. If you make a transaction with another ATM not in their network, you may be charged a fee. CommunityWide will not reimburse you that fee.

The CommunityWide checking account has a monthly fee. The fee is $2.95 each month. Customers can waive this fee by having a direct deposit into the account. You can also waive the fee by keeping a daily balance of $5,000 in the account. The savings accounts require $5 to avoid a monthly fee.

Read the full CommunityWide FCU review.

Favorite Rates

CIBC Bank USA
Savings 08/21/2019
APY 2.20%
Rate 2.18%
For APY $1
Monthly Fee $0.00
Checkbook No
Grow your savings with a rate you can rely on.
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State Farm Bank
MMA 08/21/2019
APY 2.00%
Intro Rate 1.98%
Intro Duration 12 Months
Post Intro 1.00%
For APY $1,000
Monthly Fee $10.00
To Avoid Fee $500
Checkbook Yes
Intro APY, $1,000 to Open, $5,000 Min Bal post intro, See Limits
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