Seacoast Commerce Bank Review

Overview

Established in 2003, Seacoast Commerce Bank has assets totaling $939 million and deposits totaling $723 million, making it a medium-size bank. Seacoast Commerce Bank, whose headquarters are in San Diego, California, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated the bank 3.9 out of 5 stars, which means Seacoast Commerce Bank is a good bank that warrants your consideration. Seacoast Commerce Bank has the full slate of product offerings, which include savings accounts, checking accounts, money market accounts and CDs. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Seacoast Commerce Bank's standard checking does not have a monthly maintenance charge. Institutions that offer no-fee checking and a high savings APY are your best bet for returning the most income on your deposits while having convenient access to your funds.

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

Seacoast Commerce Bank has a savings rate of 0.05%, which is poor compared to other U.S. banks. Seacoast Commerce Bank's CD rates are 0.30% and 1.21% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.05%. Given Seacoast Commerce Bank's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Seacoast Commerce Bank's Savings Rates Compare

On average, Seacoast Commerce Bank charges its customers extremely low fees in comparison to the national average. With no monthly fee, Seacoast Commerce Bank is perfect for people who want a basic banking experience. Seacoast Commerce Bank does not reimburse out-of-network ATM charges, which means you'll have to find a Seacoast Commerce Bank ATM or eat the ATM charge.

Seacoast Commerce Bank is a brick-and-mortar bank, with nine total branches in Arizona and California. It also offers access to mobile and web apps for simple access and banking on the go. Seacoast Commerce Bank's mobile app allows you to manage your bank accounts by reviewing account balances, transferring money and reaching support representatives. Seacoast Commerce Bank receives an outstanding consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Seacoast Commerce Bank ranks as a medium-size bank owning assets totaling $939 million as well as deposits totaling $723 million. Seacoast Commerce Bank's Texas Ratio is 1.47%, suggesting a minute possibility of failure. Additionally, Seacoast Commerce 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.

Products Offered

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

Find a Seacoast Commerce Bank Near Me

Seacoast Commerce Bank has nine branches in the U.S.