Community Bank and Trust of Florida is a local bank offering decent account options. To find out if Community Bank and Trust of Florida is right for you, continue reading the review below.
This bank has very basic checking and savings accounts, but they do provide a minor savings account for children who want to learn to become responsible money managers at a young age.
Checking Account Options
Community Bank and Trust of Florida has a few checking accounts that are pretty standard.
This is a standard checking account and you will need $50 to open.
There are also no monthly fees nor minimum balance requirements to worry about.
This account comes with everything a standard checking account would have.
This checking account earns interest and comes with all the features a standard checking account has.
You can open it with a $100 and start earning interest as long as you keep a daily balance of $1,500.
There is also a $5 monthly fee that doesn’t seem to be waiveable.
You can open this account with $100 and start earning interest on all account balances.
If you manage to maintain a daily balance of at least $10,000, you can waive the $18 monthly fee.
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Savings Account Options
Community Bank and Trust of Florida has two savings accounts that offers a few benefits.
This savings account can be opened with $100 and it will earn interest on all balances.
There is a small fee of $5, but you can waive it by keeping a daily balance of $500.
This youth savings account can be opened with a $50 minimum deposit as well and it will earn interest.
There are also no monthly fees!
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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.
Prime Money Market:
- Open with $2,500
- Waive the $12 monthly fee by keeping a daily balance of $2,500
- This account earns tiered interest rates
- Comes with check writing privileges
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CD Account Options
Community Bank and Trust of Florida offers CDs with competitive rates. Their opening deposits vary depending on CD term lengths.
Their CDs earn pretty high competitive rates and the terms range from 14 months – 5 years.
To learn more about their CDs, click here.
The CDs will automatically renew upon maturity.
Compare CD Accounts
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Reasons to Bank with CB and Trust of Florida
- Good ratio of checking to savings accounts.
- On most accounts, you can earn interest on any of your balances.
- If you live in Florida then it would be convenient for you to visit a physical branch.
- They have a minor savings account.
- Their CDs earn pretty high interest rates.
- Simplistic if you like simple account options.
- Conduct all your banking online or through the Community Bank and Trust of Florida mobile app.
Reasons Not to Bank with CB and Trust of Florida
- They are only located in Florida and have 11 branches in total.
- The monthly fees and minimum balance requirements for most of their accounts are higher than usual.
- They don’t have 24-hour banking.
- They have very few checking and savings accounts.
- Lacking a senior checking or savings account.
- They could earn slightly higher interest rates on their savings accounts.
Community Bank and Trust of Florida Routing Number
The routing number for Community Bank and Trust of Florida varies depending on state and regions. You can also check the lower left corner of your Community Bank and Trust of Florida check.
Contact Customer Service
You can reach Community Bank and Trust of Florida at 352-369-1000.
You may also fill out one of the request form on their website to acquire further information.
How Community Bank and Trust of Florida 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.
- 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.
Bottom Line
Community Bank and Trust of Florida seems to encourage their customers to visit a physical branch to discuss further account information.
They offer very simple accounts and lack variety and often have higher than average monthly fees and minimum balance requirements, so it might be difficult to bank with them if you aren’t someone who tends to keep a high balance.
However, the plus side is that a lot of their accounts earn interest no matter what the balance is.
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 you’re interested in banking with Community Bank and Trust of Florida, then apply today! For more options from a variety of banks, see our list of the best bank promotions!
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