Loading
Tap on the profile icon to edit
your financial details.

Boston Private Bank & Trust Company Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Boston Private Bank & Trust Company Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

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.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

3.4
SmartAsset Average: 3.5

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

Boston Private Bank & Trust Company Savings 0.10 National Average 0.26 Compare Offers
Back to Overview

Fees

NR
SmartAsset Average: 4.4

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

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

4.2
SmartAsset Average: 3.7

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.

Overall Mobile Rating 4.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

5.0
SmartAsset Average: 4.8

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.

Back to Overview

Compare Boston Private Bank & Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $500
Checking Account 0.03% APY $2500
Certificates of Deposit
  • 12 Month: 1.61% APY
  • 24 Month: 1.61% APY
  • 36 Month: 1.56% APY
  • 48 Month: 1.56% APY
  • 60 Month: 1.56% APY
$1000 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

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.

Back to Overview

Find a Boston Private Bank & Trust Company Near Me

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

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure