Started in 1996, Barrington Bank & Trust Company has assets totaling $2 billion along with $1 billion in deposits, making it a large bank. Barrington Bank & Trust Company, whose headquarters are in Barrington, Illinois, lacks premium access to support representatives, 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. Coming in at a commendable 4.1 stars out of 5, Barrington Bank & Trust Company is a respectable bank that should be given a look. Barrington Bank & Trust Company provides customers with a full array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Barrington Bank & Trust Company offers an option without a monthly fee. Finding an institution with free checking, in addition to a high interest rate savings account is your best bet for gaining the highest income from your deposits while maintaining convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Barrington Bank & Trust Company features a savings rate of 0.20%, which is fair in comparison to other U.S. banks. Its one-year CD has a rate of 0.15% and the five-year CD has a rate of 0.80%, while its highest-yielding money market account earns at a rate of 0.30%. Given its below average savings rate, you should consider opting for higher earning savings accounts with other banks.
How Barrington Bank & Trust Company's Savings Rates Compare
On average, Barrington Bank & Trust Company charges customers extremely low fees in comparison to the national average. Its checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. For those who will need cash in a pinch, Barrington Bank & Trust Company is perfect because it has no out-of-network ATM fees. Barrington Bank & Trust Company does not reimburse out-of-network ATM fees, which means you'll be required to locate a Barrington Bank & Trust Company ATM or pay the ATM charge.
Barrington Bank & Trust Company is a brick-and-mortar bank, with seven total branches in Illinois. With mobile and web apps, Barrington Bank & Trust Company makes mobile banking straightforward, even on the go. Barrington Bank & Trust Company's online and mobile banking platforms get poor scores from users. The Barrington Bank & Trust Company mobile app is rated at 2.6 out of 5 (with 25 ratings on Apple and Android) compared to the national average of 3.8. Barrington Bank & Trust Company's mobile app lets you manage your accounts by looking at account balances, sending and receiving money and accessing support representatives. Barrington Bank & Trust Company gets an outstanding consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Barrington Bank & Trust Company ranks as a large bank owning $2 billion in assets as well as $1 billion in deposits. Its Texas Ratio is 3.95%, signifying that the bank is in outstanding financial condition and far from failure. Additionally, Barrington Bank & Trust Company 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 Barrington Bank & Trust Company to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.2% APY||$1|
|Checking Account||0.05% APY||$1|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.3% APY 0.3% APY||$10000 $15000|
Barrington Bank & Trust Company has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Barrington Bank & Trust Company does not have the best savings rate, which means you should consider 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. Barrington Bank & Trust Company's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a Barrington Bank & Trust Company Near Me
Barrington Bank & Trust Company has seven branches across the U.S.Back to Overview