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MountainOne Bank Review

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


MountainOne Bank started in 1848 with headquarters in North Adams, Massachusetts. It owns $908 million in assets as well as $638 million in deposits, which makes it a medium-size bank. MountainOne Bank 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 in-person service, in addition to its online and mobile apps. Overall, MountainOne Bank is a great choice and should warrant serious consideration, with a rating of 4.4 out of 5 stars from the SmartAsset experts. MountainOne Bank has a full array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, MountainOne Bank's most basic checking account does not carry a monthly fee. Banks that offer free checking and a high interest rate savings account are the best option for gaining the most income on your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

MountainOne Bank features a savings rate of 0.15%, which is poor as compared against the national average. Its one-year CD earns at a rate of 1.35% and the five-year CD has a rate of 2.75%, while its highest-yielding money market account earns at an APY of 0.55%. Given MountainOne Bank's below average savings rate, you should think about looking at the competition to open savings accounts.

How MountainOne Bank's Savings Rates Compare

MountainOne Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

MountainOne Bank has typically extremely low fees compared to the national average. With no monthly fee, MountainOne Bank is perfect for people who want a basic banking experience. MountainOne Bank unfortunately doesn't reimburse out-of-network ATM charges, which means you will have to locate a MountainOne Bank ATM or eat the cost of withdrawal.

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

SmartAsset Average: 3.7

MountainOne Bank is a brick-and-mortar bank, with eight total bank locations in Massachusetts. It also offers access to mobile and web apps for an easy mobile-banking experience. MountainOne Bank's online and mobile banking platforms receive reasonably decent feedback from users. Out of 8 customer reviews on both Apple and Android platforms, the MountainOne Bank mobile app has an overall rating of 4.1 out of 5 (compared to the national average of 3.8). You can use MountainOne Bank's mobile app to manage your bank accounts by looking at current statements, transferring money and reaching support representatives. MountainOne Bank receives a superb consumer satisfaction score due to relatively 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 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

MountainOne Bank is a medium-size bank owning assets totaling $908 million as well as deposits totaling $638 million. MountainOne Bank's Texas Ratio is 5.50%, indicating 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

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 Account 0.4% APY $5000

MountainOne Bank has several deposit products like 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 in comparison to the national average.

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Find a MountainOne Bank Near Me

MountainOne Bank has eight locations across the U.S.

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