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The Bryn Mawr Trust Company Review

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

Overview

The Bryn Mawr Trust Company Bank started in 1889 and is headquartered in Bryn Mawr, Pennsylvania. It owns $4 billion in assets and $3 billion in deposits, ranking it as a large bank. The Bryn Mawr Trust Company lacks premium access to customer service, 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 apps. With a commendable 4 out of 5 stars, The Bryn Mawr Trust Company is a good bank that deserves your consideration. The Bryn Mawr Trust Company has a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. The Bryn Mawr Trust Company has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, the bank's most basic checking account does not have a monthly maintenance fee. Using a bank with no-fee checking and a high savings APY is your best option for getting the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

The Bryn Mawr Trust Company features a savings rate of 0.05%, which is fair in comparison to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.15% and 0.75%, respectively, while its highest-yielding money market account earns at a rate of 0.17%. Given its poor savings rate, you should consider other options to earn more on your deposits.

How The Bryn Mawr Trust Company's Savings Rates Compare

The Bryn Mawr Trust Company Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, The Bryn Mawr Trust Company charges customers extremely low fees as compared against the national average. The Bryn Mawr Trust Company's checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. The Bryn Mawr Trust Company unfortunately does not refund out-of-network ATM fees, which means you'll have to locate a The Bryn Mawr Trust Company ATM or pay the withdrawal fee.

Monthly Fee $0 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

3.3
SmartAsset Average: 3.7

The Bryn Mawr Trust Company Bank is a brick-and-mortar bank, with 46 total branches in Delaware, New Jersey and Pennsylvania. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 7:30 a.m. to 6:00 p.m. ET; Saturday, and 9:00 a.m. to 12:00 p.m. ET. The Bryn Mawr Trust Company's online and mobile banking platforms receive mediocre marks from customers. Out of 58 ratings across both Apple and Android platforms, the The Bryn Mawr Trust Company mobile app is scored at 2.8 out of 5 (compared to the national average of 3.8). The Bryn Mawr Trust Company's mobile app allows you to control your bank accounts by reviewing monthly statements, transferring funds and reaching customer service. The Bryn Mawr Trust Company gets a superb consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 2.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

The Bryn Mawr Trust Company ranks as a large bank with assets totaling $4 billion as well as $3 billion in deposits. Its Texas Ratio is 1.54%, suggesting a negligible probability of failure. Additionally, The Bryn Mawr 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 The Bryn Mawr Trust Company 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 $2500
Certificates of Deposit
  • 12 Month: 0.15% APY
  • 24 Month: 0.20% APY
  • 36 Month: 0.25% APY
  • 48 Month: 0.35% APY
  • 60 Month: 0.75% APY
$1000 for all terms
Money Market Account 0.15% APY $10000

The Bryn Mawr Trust Company Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The Bryn Mawr 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. The Bryn Mawr Trust Company's CD rates are fair compared to the average U.S. bank.

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Find a The Bryn Mawr Trust Company Near Me

The Bryn Mawr Trust Company has 46 physical branches in the U.S.

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