Banesco USA, an ordinary bank, offers limited account options. To find out if Banesco USA is right for you, continue reading the review below.
Since Banesco USA is a local bank, you will have to open most of their accounts in person. Their website also doesn’t display a large amount of information either.
Table of Contents
- 1 Checking Account Options
- 2 Compare Checking Accounts
- 3 Savings Account Options
- 4 Compare Savings Accounts
- 5 Money Market Account Options
- 6 Compare Money Market Accounts
- 7 CD Account Options
- 8 Compare CD Accounts
- 9 Reasons to Bank with Banesco USA
- 10 Reasons Not to Bank with Banesco USA
- 11 Banesco USA Routing Number
- 12 Contact Customer Service
- 13 How Banesco USA Compares
- 14 Bottom Line
Checking Account Options
Banesco USA offers two checking accounts with similar benefits. However, they both will have to be open at a physical branch.
This is an interest bearing checking account that requires an opening deposit of $100.
There’s also a $15 monthly fee, but that can be waived if you maintain a daily balance of $1,500.
You will also receive a Banesco USA Visa® Check Card, unlimited checks, eStatements and access to all Banesco USA ATMs for free.
This standard checking account requires another $100 opening deposit, but it doesn’t earn interest.
If you maintain a daily balance of $100, you can waive the $15 monthly fee.
This account has everything a standard checking account offers.
Compare Checking Accounts
Open your Asterisk-Free Checking® account today and enjoy:
• $150 bonus by making total deposits of at least $1,000 within 60 days of account opening.
• Free to open and free to maintain with no monthly maintenance fees
• 24-Hour Grace Overdraft Relief
• All Day DepositSM
• Enjoy mobile & online banking
Savings Account Options
Banesco USA has one savings accounts that offers a few benefits. You will have to open their savings account in person.
BanesGrow Savings Account
- Open this account with $100
- There is a $15 monthly fee, but you can waive it by keeping a daily balance of $300
- It earns really competitive interest rates
- You will receive unlimited deposits
- You are allowed up to 6 withdrawals per month
- Online and mobile banking
Compare Savings Accounts
Open a Discover Online Savings Account for all these features:
• Earn high interest rate of 1.15% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
See advertiser website for full details
With the American Express® Personal Savings Account:
• Earn 1.30% APY on your deposits. Your Personal Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• No monthly fees, no minimum balance.
• 24/7 Account Access
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard.
Banesco USA has one money market that earns tiered interest rates. You will have once again open this account in person.
BanesFlex Money Market:
- Open this account with $2,500
- Waive the $15 monthly fee by keeping a daily balance of $2,500
- This account earns tiered interest rates
- Check writing privileges
- You are allowed up to 6 transfers per statement cycle
- Free Online Banking and Bill Pay
Compare Money Market Accounts
• Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 1.05% APY balances $100,000 and over
• Earn 0.99% APY balances under $100,000
• Open with as little as $2,500.
• No hidden fees. No surprises.
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
With the BBVA Money Market Account, you’ll enjoy:
• Earn 0.75% APY (Annual Percentage Yield)
• Earn this exceptional rate on your entire balance
• $25 minimum opening deposit required
• Get a competitive rate, with tiered interest to grow your money faster
• Interest compounds and is credited monthly
• Easily withdraw money in branch & at BBVA ATMs w/no fees
• Enjoy 24/7 online access with Online and Mobile Banking
• Link to your BBVA checking account for Overdraft Protection
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 1.30% APY on your funds
• One of the nation's top rates — several times the national average.
• Get up to 6 digital transfers/withdrawals per statement cycle
• Save smart and get more for your money
• Higher rates than traditional banks
• Get 24/7 Account Access
• Secure banking features
• Open with as little as $100
• FDIC insured
CD Account Options
Banesco USA offers CDs with competitive rates. You will need a minimum deposit of $1,500 to open any of their CDs.
Their CDs earn pretty high competitive rates and the terms range from 6 months – 36 months.
To learn more about their CDs, click here.
Unlike the other accounts, you can open a CD account online. The CDs will automatically renew upon maturity.
Compare CD Accounts
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 0.35% APY up to 1.25% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
• Available online nationwide
• Earn 1.30% APY on a 12-Month CD Term
• Earn up to 1.35% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
With the BBVA CD:
• Earn up to 0.50% APY with just a $500 minimum deposit
• The perfect balance between a great fixed rate and flexible money access.
• Access funds, if needed. No penalty.
• No opening or maintenance fees
• Shorter 11-month timeframe and a great APY
• If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them.
Reasons to Bank with Banesco USA
- Their CD accounts earn higher than average interest rates.
- You can open their CDs online.
- Their savings and money market accounts earn a pretty high APY.
- They have easily waiveable monthly fees and not too high minimum balance requirements.
Reasons Not to Bank with Banesco USA
- They are only located in Florida. They have a total of 5 physical branches.
- Very little account options and you have to open all of them (except CDs) in person.
- You might actually have to make an account on their website first to find additional information, otherwise they don’t provide much information.
- They don’t have 24-hour banking.
- Their customer service isn’t opened on weekends.
- Their online website honestly lacks crucial information that other banks have.
- Lacking a youth or senior checking account.
Banesco USA Routing Number
The routing number for Banesco USA varies depending on state and regions. You can also check the lower left corner of your Banesco USA check.
Contact Customer Service
You can reach Banesco USA at 1-888-228-1597.
To speak to a customer representative, their business hours are:
- Monday – Friday: 8:30 a.m. to 5:00 p.m.
How Banesco USA Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Discover Bank: Discover Bank is also an online nationwide bank that offers bonuses for their checking and savings accounts! You can earn cash back rewards when you open a checking account and generous bonuses for opening a savings one.
- Wells Fargo: Located throughout the US with over 5,800 branches and 13,000 ATMs. They offer a variety of deposits accounts, including accounts for teens and customers who need a second chance.
- BAC Florida Bank: Also located in Florida, BAC Florida Bank has very similar account options and prefers you to visit a branch in person to open any of their accounts as well.
If you happen to live in Florida and prefer smaller, local banks and would rather open an account in person, then Banesco USA is perfect for you.
Even though they have a very small amount of account options, their savings and money market accounts earn exceptionally high and competitive rates.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If Banesco USA has the variety and options you’re looking for, apply today! For more options from a variety of banks, see our list of the best bank promotions!