Univest Bank is a full-service bank that provides unique account options. To find out if Univest Bank is right for you, continue reading the review below.
If you open any of their accounts online, you won’t have to worry about an opening deposit at all! Some savings accounts, however, requires at least $1 to open.
Checking Account Options
Univest Bank has a small selection of checking accounts that offers some pretty neat benefits.
This is Univest’s basic checking account and there’s no minimum opening deposit nor monthly fee!
This account does not earn interest.
This checking account also doesn’t require an opening deposit.
There is, however, a $5 monthly fee, but you can waive it if you have a daily balance of $10,000.
If you have a balance of $10,000, you can earn interest on it.
This is an all-in-one checking account for students aged 16-24.
There are no monthly fees or minimum balance requirements to worry about after account opening.
This account doesn’t earn interest however.
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Savings Account Options
Univest has a decent selection of savings accounts that have pretty low minimum requirements.
This is Univest’s basic savings account. You will need $1 to open it and it earns interest.
There is a small monthly fee of $2.50, but you can waive it by keeping a daily balance of $100.
This savings account is only available online and you can open it with $1.
When you open a Univest savings account online, you won’t have to pay a monthly fee!
This is a savings account for students under the age of 18.
There is no opening deposit required nor any monthly fees!
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Open a Discover Online Savings Account for all these features:
• Earn $200/$150 Bonus with promo code HMB923 by 12/14/2023
• Earn high interest rate of 4.35% 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
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code HMB923 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/14/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice.
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.
Univest Bank has a money market that earns decent interest rates.
Univest Bank Money Market:
- No opening deposit required
- $10 monthly fee, but you can waive it by having a daily balance of $1,000
- Earns tiered interest rates
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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
Univest Bank offers CDs with pretty higher than average interest rates. These CD terms range from 7 months to 59 months and each of them requires $500 to open.
To find 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 5.30% 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!
With the CIT Bank No-Penalty 11-Month CD:
• Earn 4.90% APY on your funds with just a $1,000 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 Univest Bank
- All their checking accounts are free to open, none of them require an opening deposit if you open them online.
- Their accounts don’t require too high of requirements.
- All their accounts have low monthly fees and easily waiveable balance requirements.
- Their CDs earns pretty high interest rates.
- Conduct all your banking conveniently online (recommended) or through Univest’s mobile app.
- Anyone who lives in the east coast (especially the states Univest Bank is located in) can do their banking at a physical branch.
Reasons Not to Bank with Univest Bank
- Univest Bank only has locations in 3 states: Pennsylvania, Maryland and New Jersey.
- Univest Bank is best recommended for those who prefer doing their banking online. If you don’t, then maybe this isn’t the best choice.
- Although their CDs have decent interest rates, they lack variety.
- They could use more savings accounts.
- They lack a senior citizen checking or savings account.
Univest Bank Routing Number
The routing number for Univest Bank varies based on states and regions. To find your routing number, simply check the left corner of you Univest Bank check.
Contact Customer Service
Univest Bank has a 24-hour telephone banking service line called the Whistleblower Hotline that you can reach at 215-799-2956.
To speak to a customer representative instead, these are the available hours:
- Monday – Friday at 8 a.m. – 10:00 p.m.
- Sat., Sun. & holidays (except Thanksgiving & Christmas): 9 a.m. – 5 p.m.
How Univest 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.
- PNC: Also having a New York location, PNC Bank offers free access to f PNC Bank ATMs, free mobile/online banking, reimbursement of PNC fees for use of non-PNC ATMs, and many other features that can be found on their website. They have several account options.
- 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 prefer to bank online and don’t want to worry about opening deposits, then check out Univest Bank and what it has to offer.
They have a good variety of both checking and savings accounts and don’t require much to open any of them.
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.