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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• FDIC insurance up to $250,000
• See advertiser website for full details
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With the American Express® High Yield Savings Account:
• Earn 4.30% APY as of 9/27/23 on your deposits. Your High Yield 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.
• 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.
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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• 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 4.25% APY balances $100,000 and over
• Earn 4.20% 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
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.
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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 5.00% 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 5.00% 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 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.
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!