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NexTier Bank Review

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NexTier Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

NexTier Bank started in 1897 with headquarters in Kittanning, Pennsylvania. It manages $1 billion in assets and $1 billion in deposits, classifying it as a medium-size bank. NexTier Bank has above-average customer service access with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4.1 stars out of 5, NexTier Bank is a good bank that should be given a look. NexTier Bank offers an array product offerings, which include savings accounts, checking accounts, money market accounts, mortgage products and credit cards. NexTier Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's standard checking account does not carry a monthly fee. Using a bank with no-fee checking, in addition to a high interest rate savings account is the best bet for gaining the most income from your deposits alongside convenient 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

2.9
SmartAsset Average: 3.5

With a savings rate of 0.05%, NexTier Bank ranks poorly compared to the average U.S. bank. NexTier Bank's one-year CD has a rate of 0.36% and the five-year CD has a rate of 2.03%, while its highest-yielding money market account has a rate of 0.06%. Given NexTier Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How NexTier Bank's Savings Rates Compare

NexTier Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

On average, NexTier Bank charges its customers low fees as compared against the national average. With no monthly fee, NexTier Bank's checking account is perfect for those who need an easy banking experience. For those who will need cash in a pinch, NexTier Bank is ideal because it charges no out-of-network ATM fees. Also, at $36.00, it has a slightly greater overdraft fee compared to the average U.S. overdraft fee. NexTier Bank doesn't refund out-of-network ATM charges, which means you will need to search for a NexTier Bank ATM or eat the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee $36.00 National Average: $35.00
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Service Quality

4.0
SmartAsset Average: 3.7

NexTier Bank is a brick-and-mortar bank, with 28 total branches in Arizona and Pennsylvania. With mobile and web apps, NexTier Bank makes mobile banking straightforward, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. ET; Saturday, and 9:00 a.m. to 12:00 p.m. ET. Additionally, NexTier Bank customers can access live chat for their banking questions or needs, key for getting quick access to customer service. NexTier Bank's online and mobile banking services get fair scores from users. With 27 customer reviews on Apple and Android platforms, the NexTier Bank mobile app has an overall rating of 3.6 out of 5 (compared to the national average of 3.8). You can utilize NexTier Bank's mobile app to manage your finances by checking account balances, transferring funds and reaching support representatives. NexTier Bank receives an outstanding consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.8
SmartAsset Average: 4.8

NexTier Bank is currently a medium-size bank with assets totaling $1 billion and $1 billion in deposits. NexTier Bank's Texas Ratio is 5.86%, denoting a small likelihood of failure. Additionally, NexTier Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.86%
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 NexTier Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.05% APY $10000
Certificates of Deposit
  • 12 Month: 0.36% APY
  • 24 Month: 0.55% APY
  • 36 Month: 1.01% APY
  • 48 Month: 1.36% APY
  • 60 Month: 2.03% APY
$500 for all terms
Money Market Account 0.06% APY $10000

NexTier Bank offers several deposit products like savings accounts, checking accounts and money market accounts to give you many options to manage your money. NexTier Bank does not have the best savings rate, which means you should think about 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. NexTier Bank's CD rates are fair compared to the average U.S. bank.

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Find a NexTier Bank Near Me

NexTier Bank has 28 physical locations across the U.S.

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