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Univest Bank and Trust Co. Review

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Univest Bank and Trust Co. Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Univest Bank and Trust Co. started in 1876 with headquarters in Souderton, Pennsylvania. It owns assets of $5 billion as well as deposits totaling $4 billion, which makes it a large bank. Univest Bank and Trust Co. lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. At a SmartAsset rating of 4 stars out of 5, Univest Bank and Trust Co. should be near the middle of the pack in your search for a bank. Univest Bank and Trust Co. provides customers with the full slate of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Univest Bank and Trust Co.'s most basic checking account does not have a monthly maintenance fee. Banks that offer free checking as well as a high interest rate savings account are the best bet for returning the most income from 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

3.0
SmartAsset Average: 3.5

With a savings rate of 0.05%, Univest Bank and Trust Co. ranks poorly compared to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.45% and 1.25%, respectively, while its highest-yielding money market account earns at an APY of 0.05%. Given Univest Bank and Trust Co.'s poor savings rate, you should think about taking a look at other banks for savings accounts.

How Univest Bank and Trust Co.'s Savings Rates Compare

Univest Bank and Trust Co. Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.3
SmartAsset Average: 4.4

Univest Bank and Trust Co. charges its customers low fees compared to other U.S. banks. With no monthly fee, Univest Bank and Trust Co.'s checking account is perfect for those who need an easy banking experience. For those who will need cash in a pinch, Univest Bank and Trust Co. is fair because it charges an out-of-network ATM fee of $1.50, which is reasonable in comparison to the national average. Univest Bank and Trust Co. unfortunately does not reimburse out-of-network ATM fees, meaning you'll have to find a Univest Bank and Trust Co. ATM or pay the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.50 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.6
SmartAsset Average: 3.7

Univest Bank and Trust Co. is a brick-and-mortar bank, with 48 total branches in New Jersey and Pennsylvania. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not offer all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 10:00 p.m. ET; Saturday and Sunday, and 9:00 a.m. to 5:00 p.m. ET. Univest Bank and Trust Co. gets inferior reviews from users for its mobile app. With 120 customer reviews across both iOS and Android platforms, the Univest Bank and Trust Co. mobile app has an overall rating of 3.4 out of 5 (compared to the national average of 3.8). Univest Bank and Trust Co.'s mobile app allows you to control your accounts by checking account balances, transferring money as well as reaching customer service. Univest Bank and Trust Co. receives a superb consumer satisfaction score based on 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 No
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Financial Health

4.9
SmartAsset Average: 4.8

Univest Bank and Trust Co. is currently a large bank with assets totaling $5 billion as well as $4 billion in deposits. Its Texas Ratio is 2.86%, signifying a minute chance of failure. Additionally, Univest Bank and Trust Co. 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 Univest Bank and Trust Co. 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 $1
Certificates of Deposit
  • 12 Month: 0.45% APY
  • 24 Month: 0.75% APY
  • 36 Month: 1.10% APY
  • 48 Month: 1.15% APY
  • 60 Month: 1.25% APY
$500 for all terms
Money Market Account 0.05% APY $25000

Univest Bank and Trust Co. has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Univest Bank and Trust Co. does not have the best savings rate, which means you should consider looking 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. Univest Bank and Trust Co.'s CD rates are fair in comparison to other U.S. banks.

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Find a Univest Bank and Trust Co. Near Me

Univest Bank and Trust Co. has 48 physical branches across the U.S.

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