BNB Bank Review

BNB Bank Savings

0.02% APY

BNB Bank started in 1909 and has its headquarters in Bridgehampton, New York. BNB Bank owns assets totaling $4 billion as well as $3 billion in deposits, classifying it as a large bank. BNB Bank 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 offerings. At a SmartAsset rating of 4.1 stars out of 5, BNB Bank should be solidly in contention for your choice of bank. 

BNB Bank has the complete package of product offerings, including savings accounts, checking accounts, money market accounts, CDs, brokerage accounts, mortgage products and credit cards. BNB Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account carries a monthly fee of $3.00, which is acceptable as compared against the national average. Opening both checking and savings accounts in one place can be ideal when you want to get the most return on your deposits while retaining easy access to your money.

Service Quality

BNB Bank is a brick-and-mortar bank, with 38 total bank locations in New York. With mobile and web apps, BNB Bank makes account access easy, even on the go.  

BNB Bank gets inadequate reviews from users for its mobile platform: with 26 customer reviews across both iOS and Android platforms, the BNB Bank mobile app has an overall rating of 3.2 out of 5 (compared to the national average of 3.8). You can utilize BNB Bank's app to manage your bank accounts by monitoring account balances, transferring funds and reaching support representatives. BNB Bank gets a superb consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency. 

Products Offered

BNB Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs, giving you 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. BNB Bank's CD rates are excellent in comparison to the national average.

Rates

BNB Bank features a savings rate of 0.02%, which is poor in comparison to other U.S. banks. Its one-year and five-year term lengths CD's earn at a rate of 0.25% and 0.80%, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given its noncompetitive savings rate, you should think about looking elsewhere to open savings accounts.

Fees

BNB Bank has generally average fees compared to the national average. Its checking account has a monthly fee of $3.00, ranking it average for anyone looking for a simple account. 

Financial Health

BNB Bank is currently a large bank owning assets totaling $4 billion as well as deposits totaling $3 billion. It has an excellent Texas Ratio of 1.65%, indicating that BNB Bank is in excellent financial condition and exceedingly far from failure. Additionally, BNB Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a BNB Bank Near Me

BNB Bank has 38 physical branches in the U.S.