Manasquan Bank Review

Overview

Manasquan Bank started in 1874 with headquarters located in Manasquan, New Jersey. It owns assets of $2.80 billion and $2.50 billion in deposits, making it a medium-size bank. Manasquan 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 in-person service, in addition to its online and mobile offerings. With a score of 4.3 out of 5 stars, Manasquan Bank should be solidly in contention for your choice of bank. Manasquan Bank has a diverse array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Manasquan Bank has a fair savings rate; you can find higher rates with other banks. Using an institution with no-fee checking as well as a high savings APY is your best bet for returning the highest income from your deposits while maintaining convenient access to your funds.

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

With a savings rate of 0.10%, Manasquan Bank ranks poorly in comparison to other U.S. banks. Its one-year CD earns at a rate of 3.75% and the five-year CD earns at a rate of 4.45%, while its highest-yielding money market account earns at a rate of 4.00%. Given Manasquan Bank's below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Manasquan Bank's Savings Rates Compare

There is insufficient data on Manasquan Bank's fees to provide a full SmartAsset rating.

Manasquan Bank is a brick-and-mortar bank, with 15 total branches in New Jersey. With mobile and web apps, Manasquan Bank makes mobile banking convenient, even on the go. Manasquan Bank's online and mobile banking services receive moderate marks from users. The Manasquan Bank mobile app has an overall rating of 3.6 out of 5 (with 23 customer reviews on iOS and Android) compared to the national average of 3.8. Manasquan Bank's mobile app allows you to manage your finances by reviewing current statements, sending and receiving money as well as reaching support representatives. Manasquan Bank gets an excellent consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Manasquan Bank is currently a medium-size bank and has assets totaling $2.80 billion as well as $2.50 billion in deposits. Its Texas Ratio is 0.38%, signifying a minute possibility of failure. Additionally, Manasquan 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.

Products Offered

Manasquan Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Manasquan Bank 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. Manasquan Bank's CD rates are fair compared to the average U.S. bank.

Find a Manasquan Bank Near Me

Manasquan Bank has 15 branches across the U.S.