Started in 1887, Bar Harbor Bank & Trust has $4 billion in assets and deposits totaling $2 billion, which makes the institution a large bank. Bar Harbor Bank & Trust, whose headquarters are in Bar Harbor, Maine, lacks premium access to support representatives, with no live chat or all-day service options available. 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. With a commendable 4.1 stars out of 5, Bar Harbor Bank & Trust proves it is a good bank that deserves your consideration. Bar Harbor Bank & Trust has a diverse array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Bar Harbor Bank & Trust has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Bar Harbor Bank & Trust offers an option without a maintenance or monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best bet for returning the most income from your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Bar Harbor Bank & Trust has a savings rate of 0.05%, which is poor as compared against the national average. Bar Harbor Bank & Trust's one-year CD earns at a rate of 0.40% and the five-year CD has a rate of 1.15%, while its highest-yielding money market account has an APY of 0.15%. Given Bar Harbor Bank & Trust's poor savings rate, you should think about opting for higher earning savings accounts with other banks.
How Bar Harbor Bank & Trust's Savings Rates Compare
On average, Bar Harbor Bank & Trust charges its customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, Bar Harbor Bank & Trust is ideal for those who want a basic banking experience. Bar Harbor Bank & Trust doesn't reimburse out-of-network ATM charges, which means you will be required to find a Bar Harbor Bank & Trust ATM or accept the fee.
Bar Harbor Bank & Trust is a brick-and-mortar bank, with 49 total branches in Maine, New Hampshire and Vermont. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not provide access to all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 7:30 a.m. to 5:30 p.m. ET; Saturday, and 8:00 a.m. to 12:00 p.m. ET. Bar Harbor Bank & Trust's online and mobile banking platforms receive mediocre feedback from users. Out of 36 ratings across both iOS and Android platforms, the Bar Harbor Bank & Trust mobile app is scored at 3.2 out of 5 (compared to the national average of 3.8). Bar Harbor Bank & Trust's mobile app lets you control your accounts by reviewing account balances, sending and receiving funds and accessing support representatives. Bar Harbor Bank & Trust gets an outstanding consumer satisfaction score based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Bar Harbor Bank & Trust is a large bank and owns $4 billion in assets and deposits totaling $2 billion. Its Texas Ratio is 3.47%, denoting that Bar Harbor Bank & Trust is in outstanding financial shape and improbable to fail. Additionally, Bar Harbor Bank & Trust 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.Back to Overview
Compare Bar Harbor Bank & Trust to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.05% APY||$100|
|Checking Account||0.01% APY||$1|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Account||0.05% APY||$10000|
Bar Harbor Bank & Trust has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Bar Harbor Bank & Trust 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. Bar Harbor Bank & Trust's CD rates are fair compared to other U.S. banks.Back to Overview
Find a Bar Harbor Bank & Trust Near Me
Bar Harbor Bank & Trust has 49 locations across the U.S.Back to Overview