Bravera Bank Review

Bravera Bank Savings

0.01% APY

Bravera Bank, formerly American Bank Center, first started operating in 1977 with headquarters located in Dickinson, North Dakota. Bravera Bank has assets totaling $1 billion as well as $1 billion in deposits, classifying it as a medium-size bank. Bravera Bank does not have the same customer service perks that others do. It is a conventional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile presence. SmartAsset has rated the bank 4.2 stars out of 5, indicating that Bravera Bank is a solid pick to be your bank. 

Bravera Bank offers a varied choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. Perfect for basic banking needs, Bravera Bank's ordinary checking account does not have a monthly fee. Keeping accounts in the same place is perfect when you want to get the highest return on your deposits while maintaining access to your funds without having to wait for money to transfer between accounts.

Service Quality

Bravera Bank is a brick-and-mortar bank, with 18 total branches in Montana and North Dakota. It also offers access to mobile and web apps for an easy mobile-banking experience.  

Bravera Bank's online and mobile banking services get great feedback from customers: out of 10 ratings across Apple and Android platforms, the Bravera Bank mobile app is scored at 4.6 out of 5 (compared to the national average of 3.8). Bravera Bank's mobile app allows you to control your accounts by looking at account balances, sending and receiving funds as well as accessing customer service. Bravera Bank receives a superb consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector. 

Products Offered

Bravera Bank has several deposit products which include savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. It does not have the best savings rate, which means you should consider other options for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Bravera Bank's CD rates are competitive in comparison to the average U.S. bank.

Rates

With a savings rate of 0.01%, Bravera Bank ranks below the mean in comparison to other U.S. banks. Bravera Bank's one-year CD earns at a rate of 0.20% and the five-year CD has a rate of 1.00%, while its highest-yielding money market account earns at a rate of 0.07%. It has a fair savings rate, which means you can find higher rates with other banks. Consider choosing another bank to earn more on your deposits.

Fees

Bravera Bank charges customers extremely low fees in comparison to the national average. With no monthly fee, Bravera Bank's checking account is ideal for people who need a hassle-free banking experience. 

Financial Health

Bravera Bank is a medium-size bank owning $1 billion in assets and deposits totaling $1 billion. Bravera Bank has a very good Texas Ratio of 15.05%, indicating that Bravera Bank is in good financial shape and far from failure. Additionally, Bravera Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find an Bravera Bank Near Me

Bravera Bank has 18 physical branches across the U.S.