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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

Founded in 1897, NexTier Bank has $1 billion in assets and $1 billion in deposits, which makes the institution a medium-size bank. NexTier Bank, whose headquarters are in Kittanning, Pennsylvania, 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 out of 5 stars, NexTier Bank is a good bank that deserves your consideration. NexTier Bank provides customers with a selection of 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, NexTier Bank offers an option without a maintenance or monthly fee. Banks that offer no-fee checking and a high interest rate savings account are the best option for accruing the highest income from your deposits while maintaining 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

2.9
SmartAsset Average: 3.5

With a savings rate of 0.05%, NexTier Bank ranks poorly as compared against the national average. Its one-year CD has a rate of 0.36% and the five-year CD earns at a rate of 2.03%, while its highest-yielding money market account earns at a rate of 0.06%. Given its below average savings rate, you should consider taking a look at other banks for savings accounts.

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

NexTier Bank charges customers low fees as compared against the national average. NexTier Bank's checking account has no monthly fee, rating it excellent for anyone looking for a simple account. For those who regularly visit the ATM, NexTier Bank is ideal because it charges no out-of-network ATM fees. Also, at $36.00, NexTier Bank's overdraft fee is slightly higher than the average overdraft fee charged by U.S. banks. NexTier Bank doesn't reimburse out-of-network ATM fees, which means you will have to search for a NexTier Bank ATM or eat the ATM charge.

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 bank locations in Arizona and Pennsylvania. It also offers access to mobile and web apps for straightforward access and banking on the go. It does not have all-day customer service with 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 customer service questions, which may provide helpful service without getting on the phone. NexTier Bank receives moderate feedback from users for its mobile platform. Out of 27 ratings on iOS 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). NexTier Bank's mobile app allows you to control your funds by checking account balances, sending and receiving funds as well as reaching support representatives. NexTier Bank gets an excellent consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government 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 a medium-size bank owning $1 billion in assets as well as deposits totaling $1 billion. Its Texas Ratio is 5.86%, denoting that the bank is in good financial condition and improbable to fail. 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 has several deposit products including savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. NexTier 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. NexTier Bank's CD rates are fair in comparison to the national average.

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Find a NexTier Bank Near Me

NexTier Bank has 28 locations across the U.S.

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