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Metropolitan Commercial 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
Metropolitan Commercial Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Metropolitan Commercial Bank first started operating in 1999 and has its headquarters in New York, New York. It has $2 billion in assets as well as deposits totaling $1 billion, making it a large bank. Metropolitan Commercial Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 4.1 stars out of 5, Metropolitan Commercial Bank should be solidly in contention for your choice of bank. Metropolitan Commercial Bank offers the full selection of product offerings, including savings accounts, checking accounts, money market accounts and CDs. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking product carries a monthly fee of $3.00, which is not too high compared to other U.S. banks. Finding an institution with no-fee checking and a high savings APY is the best bet for accruing the most income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

3.3
SmartAsset Average: 3.5

Metropolitan Commercial Bank has a savings rate of 0.20%, which is fair in comparison to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.60% and 1.25%, respectively, while its highest-yielding money market account earns at a rate of 0.16%. Given its poor savings rate, you should think about looking elsewhere to open savings accounts.

How Metropolitan Commercial Bank's Savings Rates Compare

Metropolitan Commercial Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

3.5
SmartAsset Average: 4.4

Metropolitan Commercial Bank charges customers high fees in comparison to the national average. At $3.00/month, Metropolitan Commercial Bank's checking account is less than great for people who need an easy banking experience. Metropolitan Commercial Bank does not refund out-of-network ATM fees, meaning you'll be required to locate a Metropolitan Commercial Bank ATM or eat the withdrawal fee.

Monthly Fee $3.00 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

4.4
SmartAsset Average: 3.7

Metropolitan Commercial Bank is a brick-and-mortar bank, with seven total branches in New York. With mobile and web apps, Metropolitan Commercial Bank makes account access convenient, even on the go. Metropolitan Commercial Bank gets high praise from customers for its mobile platform. The Metropolitan Commercial Bank mobile app has an overall rating of 4.9 out of 5 (with 9 customer reviews on Apple and Android) compared to the national average of 3.8. Metropolitan Commercial Bank's mobile app allows you to manage your bank accounts by checking account balances, sending and receiving funds and accessing support representatives. Metropolitan Commercial Bank gets a superb consumer satisfaction score based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.9/5
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

Metropolitan Commercial Bank ranks as a large bank and manages assets totaling $2 billion as well as $1 billion in deposits. Metropolitan Commercial Bank's Texas Ratio is 1.17%, indicating a minute possibility of failure. Additionally, Metropolitan Commercial 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 Metropolitan Commercial Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1000
Checking Account 0.2% APY $1000
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 0.75% APY
  • 36 Month: 0.91% APY
  • 48 Month: 0.95% APY
  • 60 Month: 1.25% APY
$1000 for all terms
Money Market Accounts 0.16% APY 0.16% APY $10000 $15000

Metropolitan Commercial 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. Metropolitan Commercial Bank does not have the best savings rate, which means you should consider other options 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. Metropolitan Commercial Bank's CD rates are fair compared to other U.S. banks.

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Find a Metropolitan Commercial Bank Near Me

Metropolitan Commercial Bank has seven physical branches in the U.S.

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