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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

Established in 2006, Aquesta Bank has assets totaling $405 million as well as $305 million in deposits, making the institution a small bank. Aquesta Bank, whose headquarters are in Cornelius, North Carolina, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 3.5 out of 5 stars, Aquesta Bank should be more closely inspected to see if its features satisfy your needs. Aquesta Bank has a complete choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Aquesta Bank has a fair savings rate compared to the average savings account. The bank's standard checking product has a $10.00 monthly fee, which places it at the higher end of monthly fees. Using a bank with free checking, in addition to a high savings APY is the best option for returning the highest income on your deposits alongside easy 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 fair compared to other U.S. banks. Aquesta Bank's CDs feature a rate of 0.50% and 0.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.80%. Given Aquesta Bank's below average savings rate, you should consider opting for higher earning savings accounts with other banks.

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. Its checking account has a monthly fee of $10.00, rating it fair for anyone looking for a hassle-free account. Aquesta Bank unfortunately does not reimburse out-of-network ATM charges, which means you will need to locate 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 bank locations in North Carolina. With mobile and web apps, Aquesta Bank makes mobile banking easy, even on the go. Aquesta Bank's online and mobile banking platforms get fairly satisfactory feedback from customers. Out of 6 ratings across Apple and Android platforms, the Aquesta Bank mobile app rates a 4.3 out of 5 (compared to the national average of 3.8). Aquesta Bank's mobile app allows you to control your finances by looking at monthly statements, transferring money and accessing support representatives. Aquesta Bank receives an exceptional consumer satisfaction score due to comparatively 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 ranks as a small bank with assets totaling $405 million and $305 million in deposits. Its Texas Ratio is 0.08%, denoting that the bank is in excellent financial shape and far from 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 Accounts 0.8% APY 0.8% APY $10000 $15000

Aquesta Bank offers several deposit products like 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 taking a look 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 in comparison to the average U.S. bank.

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Find a Aquesta Bank Near Me

Aquesta Bank has seven branches in the U.S.

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