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MountainOne 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
MountainOne Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1848, MountainOne Bank has $908 million in assets along with deposits totaling $638 million, ranking it as a medium-size bank. MountainOne Bank, whose headquarters are in North Adams, 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. Overall, MountainOne Bank is a great choice and should warrant serious consideration, with a rating of 4.4 stars out of 5 from our team. MountainOne 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 compared to the average savings account. If you're interested in stress-free personal checking, MountainOne Bank offers an option without a monthly fee. Finding a bank with free checking as well as a high interest rate savings account is your best option for returning the most income on your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

3.7
SmartAsset Average: 3.5

MountainOne Bank has a savings rate of 0.15%, which is fair as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.35% and 2.75%, respectively, while its highest-yielding money market account earns at a rate of 0.55%. Given MountainOne Bank's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How MountainOne Bank's Savings Rates Compare

MountainOne Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, MountainOne Bank charges customers extremely low fees compared to the average U.S. bank. MountainOne Bank's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. MountainOne Bank unfortunately does not refund out-of-network ATM fees, meaning you will be required to find a MountainOne Bank ATM or accept 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

4.0
SmartAsset Average: 3.7

MountainOne Bank is a brick-and-mortar bank, with eight total branches in Massachusetts. With mobile and web apps, MountainOne Bank makes account access convenient, even on the go. MountainOne Bank gets moderately satisfactory scores from users for its mobile app. With 8 customer reviews on both iOS and Android platforms, the MountainOne Bank mobile app rates a 4.1 out of 5 (compared to the national average of 3.8). You can use MountainOne Bank's mobile app to control your bank accounts by looking at current statements, transferring money as well as accessing customer service. MountainOne Bank gets a superb consumer satisfaction rating due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

MountainOne Bank is a medium-size bank owning assets totaling $908 million as well as deposits totaling $638 million. Its Texas Ratio is 5.50%, suggesting a small likelihood of failure. Additionally, MountainOne Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.5%
High Risk 75% 50% 20% 10% Low Risk

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 MountainOne Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.35% APY
  • 24 Month: 2.00% APY
  • 36 Month: 3.00% APY
  • 48 Month: 2.35% APY
  • 60 Month: 2.75% APY
$10 for all terms
Money Market Accounts 0.4% APY 0.55% APY $10000 $15000

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

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Find a MountainOne Bank Near Me

MountainOne Bank has eight physical locations in the U.S.

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