Bank of New England, an ordinary bank, offers limited account options. To find out if Bank of New England is right for you, continue reading the review below.
The website for Bank of New England doesn’t offer a lot of information concerning their personal banking options, but it’s organized enough that you can easily find where every account option is.
Their account options are also extremely bare minimum. It might be more helpful to visit a physical branch or contact Bank of New England to discuss more information.
Checking Account Options
Bank of New England offers one personal checking account (according to their website).
There are no monthly fees nor minimum balance requirements to worry about either. You will also get an ATM Debit Card.
If you are a business worker, Bank of New England offers a business checking account since they only have one of each.
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Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard.
Bank of New England has one money market that earns tiered interest rates.
Bank of New England Money Market:
- This account earns tiered interest rates
- You are allowed up to 6 transfers per statement cycle
- Free Online Banking and Bill Pay
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• 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 3.55% APY balances $100,000 and over
• Earn 3.50% 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 CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 1.55% 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
Bank of New England offers CDs with competitive rates. You will need a minimum deposit of $500 to open any of their CDs.
Their CDs earn high competitive rates and the terms range from 7 days – 60 months.
To learn more about their CDs, click here.
The CDs will automatically renew upon maturity.
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• 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 2.00% APY up to 4.75% 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 up to 4.65% 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!
Reasons to Bank with Bank of New England
- If you prefer to bank online, then it might be more convenient for you.
- Their CDs earn tiered interest rates and some can earn pretty high APY.
- If you like simplicity then their site is pretty organized.
Reasons Not to Bank with Bank of New England
- They are only located in New Hampshire and Massachusetts. There are 9 total physical branches available.
- Very little account options.
- You might actually have to make an account on their website first to find additional information, otherwise they don’t provide much information.
- They seem to lack a general savings account but they have a Money Market account.
- Their free checking account still requires an opening deposit of $100.
- They don’t have 24-hour banking.
- Their online website honestly lacks crucial information that other banks have.
- Lacking a youth or senior checking account.
- You have to call to open any of their checking accounts which can be inconvenient.
Bank of New England Routing Number
The routing number for Bank of New England varies depending on state and regions. You can also check the lower left corner of your Bank of New England check.
Contact Customer Service
You can reach Bank of New England at 800-721-7445.
To speak to a customer representative, their business hours are:
- Monday – Wednesday: 8 a.m. – 5 p.m.
- Thursday & Friday: 8 a.m. – 6 p.m.
- Saturday: 8 a.m. – 12 p.m.
How Bank of New England 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.
If you aren’t looking for anything too complex when it comes to opening a checking or savings account and happen to live in Massachusetts or New Hampshire, then Bank of New England might work for you.
To be frank, Bank of New England is geared more towards commercial lending than banking, so they advise you to create an account on their website first to even do online banking.
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 Bank of New England 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!
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