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Esquire Bank Review

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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
Esquire Bank Money Market
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 2006, Esquire Bank has assets totaling $533 million as well as deposits totaling $468 million, which makes the institution a medium-size bank. Esquire Bank, whose headquarters are in Garden City, New York, lacks premium access to support representatives, 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 apps. We gave the bank a 4.2 out of 5 stars, indicating that Esquire Bank is a great bank that you should seriously consider. Esquire Bank has a complete array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account maintains a monthly fee of $7.50, making it a rather expensive bank for checking. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same institution is your best option for getting the most income on your deposits alongside 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

3.5
SmartAsset Average: 3.5

Esquire Bank's one-year CD earns at a rate of 0.75%, while its highest-yielding money market account has an APY of 0.50%.

How Esquire Bank's Savings Rates Compare

Esquire Bank Money Market 0.50 National Average 0.26 Compare Offers
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Fees

4.1
SmartAsset Average: 4.4

On average, Esquire Bank charges customers average fees in comparison to other U.S. banks. At $7.50/month, Esquire Bank is less than ideal for people who want a simple checking account. For those who will need cash in a pinch, Esquire Bank is perfect because it has no out-of-network ATM fees. Additionally, it has an overdraft fee of $32.00, which is lower than the national average overdraft fee. Esquire Bank does not reimburse out-of-network ATM charges, meaning you'll have to search for an Esquire Bank ATM or eat the fee.

Monthly Fee $7.50 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee $32.00 National Average: $35.00
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Service Quality

4.0
SmartAsset Average: 3.7

Esquire Bank is a brick-and-mortar bank, with one total branches in New York. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Esquire Bank receives moderately high praise from customers for its mobile platform. With 2 ratings across both iOS and Android platforms, the Esquire Bank mobile app rates a 4.0 out of 5 (compared to the national average of 3.8). You can access Esquire Bank's app to manage your accounts by checking current statements, sending and receiving funds and reaching support representatives. Esquire Bank receives a superb consumer satisfaction rating based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

Esquire Bank ranks as a medium-size bank and owns assets totaling $533 million as well as $468 million in deposits. Its Texas Ratio is 0.00%, signifying that the bank is in excellent financial well-being and unlikely to fail. Additionally, Esquire Bank 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.

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Compare Esquire Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.00% APY
$500 for all terms
Money Market Accounts 0.5% APY 0.5% APY $10000 $15000

Esquire Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Esquire Bank does not have the best savings rate, which means you should think about 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. Esquire Bank's CD rates are fair as compared against the national average.

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Find a Esquire Bank Near Me

Esquire Bank has one physical branches in the U.S.

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