United Bank started in 1979 with headquarters located in Fairfax, Virginia. United Bank handles assets of $19 billion as well as deposits totaling $14 billion, which makes it a very large bank. United Bank 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 apps. On the whole, United Bank is a respectable bank that gets the job done, with a score of 4.1 out of 5 stars from the SmartAsset team. United Bank offers a varied choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. United Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's most basic checking account does not have a monthly fee. Finding a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is the best bet for getting the most income on your deposits while maintaining easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
United Bank features a savings rate of 0.05%, which is fair compared to the average U.S. bank. Its one-year CD has a rate of 1.25% and the five-year CD earns at a rate of 2.30%, while its highest-yielding money market account earns at an APY of 0.05%. Given United Bank's below average savings rate, you should think about other options to earn more on your deposits.
How United Bank's Savings Rates Compare
United Bank typically has extremely low fees compared to the national average. With no monthly fee, United Bank's checking account is ideal for people who need an easy banking experience. United Bank does not reimburse out-of-network ATM fees, meaning you'll have to locate a United Bank ATM or pay the ATM charge.
United Bank is a brick-and-mortar bank, with 150 total bank locations in District of Columbia, Ohio, Pennsylvania, Virginia and West Virginia. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not have all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:30 a.m. to 5:00 p.m. ET; Saturday, and 9:00 a.m. to 1:00 p.m. ET. United Bank gets unsatisfactory reviews from customers for its online presence. The United Bank mobile app rates a 3.3 out of 5 (with 380 reviews on iOS and Android) compared to the national average of 3.8. United Bank's mobile app allows you to control your finances by reviewing current statements, sending and receiving money as well as accessing support representatives. United Bank receives a superb consumer satisfaction rating based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
United Bank is currently a very large bank owning $19 billion in assets as well as $14 billion in deposits. United Bank has an excellent Texas Ratio of 4.82%, signifying a low probability of failure. Additionally, United 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.Back to Overview
Compare United Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.05% APY||$1|
|Checking Account||0.1% APY||$2500|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.05% APY 0.05% APY||$10000 $15000|
United Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. United Bank 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. United Bank's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a United Bank Near Me
United Bank has 150 physical locations in the U.S.Back to Overview