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Aquesta Bank Review

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Aquesta Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 2006, Aquesta Bank has assets totaling $405 million along with deposits totaling $305 million, ranking the institution as a small bank. Aquesta Bank, whose headquarters are in Cornelius, North Carolina, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We ranked Aquesta Bank at a 3.5 stars out of 5, suggesting it is a decent choice, but with better options out there. Aquesta Bank has a variety of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Aquesta Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product maintains a $10.00 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Institutions that offer no-fee checking and a high interest rate savings account are your best bet for accruing the most income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.5/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.0
SmartAsset Average: 3.5

Aquesta Bank has a savings rate of 0.10%, which is poor in comparison to the national average. Its one-year CD earns at a rate of 0.50% and the five-year CD has a rate of 0.75%, while its highest-yielding money market account has a rate of 0.80%. Given its poor savings rate, you should consider other options to earn more on your deposits.

How Aquesta Bank's Savings Rates Compare

Aquesta Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

Aquesta Bank has generally high fees in comparison to the national average. At $10.00 per month, Aquesta Bank is less than ideal for those who want a basic checking account. Aquesta Bank doesn't refund out-of-network ATM charges, meaning you will be required to search for an Aquesta Bank ATM or accept the withdrawal fee.

Monthly Fee $10.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

Aquesta Bank is a brick-and-mortar bank, with seven total branches in North Carolina. It also offers access to mobile and web apps for easy access and banking on the go. Aquesta Bank receives fairly high marks from users for its mobile banking services. The Aquesta Bank mobile app has been given a 4.3 out of 5 (out of 6 ratings on Apple and Android) compared to the national average of 3.8. You can utilize Aquesta Bank's mobile app to control your accounts by checking account balances, sending and receiving money as well as reaching support representatives. Aquesta Bank receives an excellent consumer satisfaction rating based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

Aquesta Bank is currently a small bank and manages assets totaling $405 million as well as deposits totaling $305 million. Its Texas Ratio is 0.08%, indicating a low likelihood of failure. Additionally, Aquesta Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Aquesta Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.02% APY $5000
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 2.20% APY
  • 48 Month: 2.01% APY
  • 60 Month: 0.75% APY
$1000 for all terms
Money Market Account 0.8% APY $25001

Aquesta Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Aquesta Bank does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Aquesta Bank's CD rates are fair compared to the national average.

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Find a Aquesta Bank Near Me

Aquesta Bank has seven physical branches in the U.S.

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