Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

The Bank of Castile Review

Your Details Done
by Updated
The Bank of Castile Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1869, The Bank of Castile has assets totaling $1 billion along with deposits totaling $1 billion, classifying it as a large bank. The Bank of Castile, whose headquarters are in Castile, New York, 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 apps. Coming in at an average 3.7 stars out of 5, The Bank of Castile proves it is a bank with better alternatives. The Bank of Castile has a variety of banking products, which include savings accounts, checking accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. The Bank of Castile has a fair savings rate; other popular banks have higher rates. The bank's standard checking product has a $3.00 monthly fee, which is acceptable compared to the national average. Institutions that offer no-fee checking and a high savings APY are your best bet for returning the highest income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.7/5
National Average: 4.1

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

Rates

3.1
SmartAsset Average: 3.5

The Bank of Castile has a savings rate of 0.20%, which is fair as compared against the national average. Its CD rates are 0.25% and 1.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.18%. Given its below average savings rate, you should think about taking a look at other banks for savings accounts.

How The Bank of Castile's Savings Rates Compare

The Bank of Castile Savings 0.20 National Average 0.26 Compare Offers
Back to Overview

Fees

2.8
SmartAsset Average: 4.4

The Bank of Castile charges customers high fees compared to other U.S. banks. The Bank of Castile's checking account has a monthly fee of $3.00, which makes it slightly worse for anyone looking for a simple account. Also, The Bank of Castile has an overdraft fee of $38.00, which is noticeably steeper than the national average overdraft fee. The Bank of Castile doesn't refund out-of-network ATM charges, meaning you'll need to search for a The Bank of Castile ATM or eat the cost of withdrawal.

Monthly Fee $3.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $38.00 National Average: $35.00
Back to Overview

Service Quality

3.9
SmartAsset Average: 3.7

The Bank of Castile is a brick-and-mortar bank, with 19 total bank locations in New York. With mobile and web apps, The Bank of Castile makes mobile banking easy, even 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 7:30 p.m. ET; Saturday, and 9:00 a.m. to 12:00 p.m. ET. The Bank of Castile also offers a live chat feature, giving customers an easy access point throughout the day. The Bank of Castile's online and mobile banking services receive mediocre scores from customers. The The Bank of Castile mobile app has been given a 3.4 out of 5 (with 37 reviews on iOS and Android) compared to the national average of 3.8. You can utilize The Bank of Castile's app to control your bank accounts by checking monthly statements, sending and receiving funds and accessing customer service. The Bank of Castile receives an outstanding consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
Back to Overview

Financial Health

5.0
SmartAsset Average: 4.8

The Bank of Castile is a large bank and manages $1 billion in assets and $1 billion in deposits. The Bank of Castile has an excellent Texas Ratio of 1.89%, suggesting a low possibility of failure. Additionally, The Bank of Castile 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.

Back to Overview

Compare The Bank of Castile to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.40% APY
  • 36 Month: 0.60% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.00% APY
$1000 for all terms
Money Market Account 0.15% APY $10000

The Bank of Castile has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. The Bank of Castile does not have the best savings rate, which means you should think about other options 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. The Bank of Castile's CD rates are fair as compared against the national average.

Back to Overview

Find a The Bank of Castile Near Me

The Bank of Castile has 19 branches across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure