Boston Private Bank & Trust Company Review

Overview

Founded in 1983, Boston Private Bank & Trust Company has $8 billion in assets and deposits totaling $7 billion, ranking the institution as a large bank. Boston Private Bank & Trust Company, whose headquarters are in Boston, Massachusetts, lacks premium access to customer service, 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 offerings. On the whole, Boston Private Bank & Trust Company is a solid contender in your bank search, with a rating of 4.2 stars out of 5 from our experts. Boston Private Bank & Trust Company provides customers with multiple banking products, which include checking accounts, money market accounts and CDs. It has a fair savings rate; you can find higher rates with other banks. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same bank is your best bet for returning the most 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

Boston Private Bank & Trust Company has a savings rate of 0.10%, which is poor in comparison to the national average. Its CD rates are 1.61% and 1.56% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.15%. Given Boston Private Bank & Trust Company's poor savings rate, you should think about looking at the competition to open savings accounts.

How Boston Private Bank & Trust Company's Savings Rates Compare

There is insufficient data on Boston Private Bank & Trust Company's fees to provide a full SmartAsset rating.

Boston Private Bank & Trust Company is a brick-and-mortar bank, with 23 total bank locations in California and Massachusetts. With mobile and web apps, Boston Private Bank & Trust Company makes mobile banking convenient, even on the go. Boston Private Bank & Trust Company's online and mobile banking services get relatively satisfactory ratings from customers. With 4,500 ratings on iOS and Android platforms, the Boston Private Bank & Trust Company mobile app is scored at 4.4 out of 5 (compared to the national average of 3.8). Boston Private Bank & Trust Company's mobile app lets you control your bank accounts by looking at current statements, transferring money and accessing support representatives. Boston Private Bank & Trust Company gets a superb consumer satisfaction rating based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Boston Private Bank & Trust Company is a large bank and handles $8 billion in assets and deposits totaling $7 billion. Its Texas Ratio is 1.77%, suggesting a negligible chance of failure. Additionally, Boston Private 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.

Products Offered

Boston Private Bank & Trust Company offers several deposit products like checking accounts, money market accounts and CDs to give you many options to manage your money. Boston Private Bank & Trust Company does not have the best savings rate, which means you should consider 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. Boston Private Bank & Trust Company's CD rates are fair in comparison to other U.S. banks.

Find a Boston Private Bank & Trust Company Near Me

Boston Private Bank & Trust Company has 23 locations across the U.S.