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Amerasia Bank Review

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Amerasia Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1988, Amerasia Bank has assets totaling $586 million along with $510 million in deposits, making the institution a medium-size bank. Amerasia Bank, whose headquarters are in Flushing, New York, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset has rated Amerasia Bank 4.5 out of 5 stars, suggesting it is an excellent bank that would be an ideal pick. Amerasia Bank has a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Amerasia Bank offers an option without a monthly fee. Locating an institution with no-fee checking, in addition to a high interest rate savings account is the best bet for accruing the highest income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.30%, Amerasia Bank ranks poorly as compared against the national average. Amerasia Bank's CD rates are 2.28% and 1.17% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.51%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Amerasia Bank's Savings Rates Compare

Amerasia Bank Savings 0.30 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Amerasia Bank typically has extremely low fees in comparison to other U.S. banks. With no monthly fee, Amerasia Bank is perfect for those who want a simple checking account. Amerasia Bank doesn't reimburse out-of-network ATM charges, which means you'll need to search for an Amerasia Bank ATM or accept the withdrawal fee.

Monthly Fee $0 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

SmartAsset Average: 3.7

Amerasia Bank is a brick-and-mortar bank, with six total branches in Florida and New York. It also offers access to mobile and web apps for an easy mobile-banking experience. Amerasia Bank gets high marks from customers for its online presence. With 9 ratings across both iOS and Android platforms, the Amerasia Bank mobile app has an overall rating of 5.0 out of 5 (compared to the national average of 3.8). You can use Amerasia Bank's app to control your accounts by reviewing current statements, transferring funds and accessing customer service. Amerasia Bank gets a superb consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

SmartAsset Average: 4.8

Amerasia Bank is currently a medium-size bank with assets totaling $586 million and $510 million in deposits. Amerasia Bank has an excellent Texas Ratio of 0.00%, denoting a low possibility of failure. Additionally, Amerasia 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 Amerasia Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $200
Checking Account 0.2% APY $1000
Certificates of Deposit
  • 12 Month: 2.28% APY
  • 24 Month: 0.76% APY
  • 60 Month: 1.17% APY
$2500 for all terms
Money Market Account 0.26% APY $1000

Amerasia Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Amerasia 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. Amerasia Bank's CD rates are fair compared to the average U.S. bank.

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Find a Amerasia Bank Near Me

Amerasia Bank has six physical locations in the U.S.

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