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Steuben Trust Company Review

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Steuben Trust Company Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1902, Steuben Trust Company Bank has $527 million in assets as well as deposits totaling $429 million, ranking it as a medium-size bank. Steuben Trust Company, whose headquarters are in Hornell, New York, lacks premium access to support representatives, 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 apps. Overall, Steuben Trust Company is a decent choice, but with better options out there, with a score of 3.6 out of 5 stars from the SmartAsset team. Steuben Trust Company provides customers with the full selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product has a $3.00 monthly fee, which is not too high compared to the average U.S. bank. Finding an institution with free checking and a high interest rate savings account is your best option for getting the highest income on your deposits while having convenient access to your funds.

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

Steuben Trust Company has a savings rate of 0.05%, which is poor compared to the average U.S. bank. Steuben Trust Company's one-year CD earns at a rate of 0.30%, while its highest-yielding money market account has an APY of 0.10%. Given its poor savings rate, you should think about other options to earn more on your deposits.

How Steuben Trust Company's Savings Rates Compare

Steuben Trust Company Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Steuben Trust Company charges its customers high fees in comparison to the national average. Steuben Trust Company's checking account has a monthly fee of $3.00, rating it slightly worse for anyone looking for a simple account. Steuben Trust Company unfortunately doesn't refund out-of-network ATM charges, which means you'll need to find a Steuben Trust Company ATM or pay the cost of withdrawal.

Monthly Fee $3.00 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

Steuben Trust Company Bank is a brick-and-mortar bank, with 14 total branches in New York. It also offers access to mobile and web apps for easy access and banking on the go. Steuben Trust Company's online and mobile banking services receive poor scores from customers. With 23 customer reviews across both Apple and Android platforms, the Steuben Trust Company mobile app is scored at 2.0 out of 5 (compared to the national average of 3.8). Steuben Trust Company's mobile app lets you manage your bank accounts by looking at current statements, sending and receiving funds as well as accessing support representatives. Steuben Trust Company gets an outstanding consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Steuben Trust Company is currently a medium-size bank and handles $527 million in assets and $429 million in deposits. Steuben Trust Company has an excellent Texas Ratio of 1.82%, suggesting that Steuben Trust Company is in terrific financial well-being and far from failure. Additionally, Steuben Trust Company 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.

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Compare Steuben Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $200
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.30% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.75% APY
$1000 for all terms
Money Market Account 0.1% APY $1

Steuben Trust Company Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Steuben Trust Company 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. Steuben Trust Company's CD rates are fair compared to the average U.S. bank.

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Find a Steuben Trust Company Near Me

Steuben Trust Company has 14 physical locations across the U.S.

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