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Glens Falls National Bank and Trust Company Review

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Glens Falls National Bank and Trust Company Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1851, Glens Falls National Bank and Trust Company has assets totaling $2 billion along with $2 billion in deposits, which makes the institution a large bank. Glens Falls National Bank and Trust Company, whose headquarters are in Glens Falls, New York, lacks premium access to customer service, 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 apps. We gave Glens Falls National Bank and Trust Company a 4.3 stars out of 5, suggesting it is a great choice and should warrant serious consideration. Glens Falls National Bank and Trust Company provides customers with a full array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Glens Falls National Bank and Trust Company offers an option without a monthly fee. Institutions that offer free checking as well as a high savings APY are the best option for returning the highest income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

With a savings rate of 0.05%, Glens Falls National Bank and Trust Company ranks poorly in comparison to other U.S. banks. Glens Falls National Bank and Trust Company's one-year CD earns at a rate of 0.50% and the five-year CD earns at a rate of 1.11%, while its highest-yielding money market account earns at a rate of 0.15%. Given its noncompetitive savings rate, you should consider other options to earn more on your deposits.

How Glens Falls National Bank and Trust Company's Savings Rates Compare

Glens Falls National Bank and Trust Company Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Glens Falls National Bank and Trust Company charges customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, Glens Falls National Bank and Trust Company's checking account is ideal for those who need an easy banking experience. Glens Falls National Bank and Trust Company unfortunately does not reimburse out-of-network ATM charges, meaning you will have to locate a Glens Falls National Bank and Trust Company ATM or pay the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.3
SmartAsset Average: 3.7

Glens Falls National Bank and Trust Company is a brick-and-mortar bank, with 30 total branches in New York. With mobile and web apps, Glens Falls National Bank and Trust Company makes account access easy, even on the go. Glens Falls National Bank and Trust Company gets high praise from users for its mobile app. With 1,200 ratings on both Apple and Android platforms, the Glens Falls National Bank and Trust Company mobile app is scored at 4.6 out of 5 (compared to the national average of 3.8). Glens Falls National Bank and Trust Company's mobile app lets you control your funds by monitoring monthly statements, sending and receiving funds as well as reaching customer service. Glens Falls National Bank and Trust Company gets an excellent consumer satisfaction rating based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Glens Falls National Bank and Trust Company is a large bank with assets totaling $2 billion as well as $2 billion in deposits. Glens Falls National Bank and Trust Company's Texas Ratio is 2.87%, denoting a low likelihood of failure. Additionally, Glens Falls National Bank and 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.

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Compare Glens Falls National Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $250
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.90% APY
  • 36 Month: 1.01% APY
  • 48 Month: 1.06% APY
  • 60 Month: 1.11% APY
$1000 for all terms
Money Market Account 0.1% APY $10000

Glens Falls National Bank and Trust Company offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Glens Falls National Bank and 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. Glens Falls National Bank and Trust Company's CD rates are fair in comparison to the average U.S. bank.

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Find a Glens Falls National Bank and Trust Company Near Me

Glens Falls National Bank and Trust Company has 30 locations across the U.S.

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