Customers Bank Review 2025
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At a glance
Overview
Customers Bank offers a wide array of deposit products, but the affordability of those accounts and the strength of those yields are inconsistent. Moreover, the bank is highly localized with branches in a limited number of states. Customers looking for a large branch network should look elsewhere.
Highlights:
Free CheckingHighlights:
CDs
Checking
Savings
MMA
Overall
Customers Bank is best for customers who live near one of the bank’s branches in a limited number of states, as some of the accounts require you to visit a branch to open. Moreover, savers will generally find higher annual percentage yields (APYs) with lower minimum deposit requirements for high-yield savings and money market accounts elsewhere.
Pros
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The minimum deposit for CDs is low.
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The bank offers a variety of CD terms.
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Customers Bank offers a free checking account.
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The Yield Shield Savings Account moves in tandem with the Federal Reserve's federal funds rate.
Cons
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You can find higher rates with lower minimum deposit requirements for some accounts elsewhere.
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The mobile banking app hasn't been rated by many users, though it still scores solid marks.
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You must visit a branch to open some of the bank’s deposit accounts.
Customers Bank banking products
Customers Bank Yield Shield Savings Account
Pros
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The Yield Shield Savings Account earns a competitive APY.
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This account's yield moves in lockstep with the Federal Reserve's federal funds rate, so the yield will remain high as long as the Fed's benchmark rate remains elevated.
Cons
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The account requires a very steep minimum balance to open an account and earn the APY.
Customers Bank CDs
Pros
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The bank offers a wide variety of CD terms.
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The minimum balance requirement to open CDs is low.
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Customers Bank short-term CDs offer competitive APYs.
Cons
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Higher yields on long-term CDs can be found elsewhere.
Customers Bank Money Market Account
Pros
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The account can be opened with a relatively low minimum deposit.
Cons
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Customers' money market account requires a steep balance to earn the top yield; you can easily earn higher yields elsewhere with a lower balance.
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There's a $5 monthly fee if you don't maintain $1,000 in your account at all times.
Customers Bank Free Checking Account
Pros
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There's a low minimum deposit to open an account.
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There's no monthly fee.
Cons
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The bank’s mobile app is decently rated, but very few users have reviewed the app.
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You must visit a branch to open an account.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $5 |
| Non-sufficient funds fee | $20 |
| Monthly maintenance fee | $0 – $29 |
| Excessive transaction fee | None |
Customer experience
Mobile app. Users on both iOS and Android have given the Customers Bank mobile app a decent rating, but only relatively few users have rated it. The app lets you deposit checks with your phone as well as pay back a friend — practical features that make everyday chores less frustrating.
Customer support. Customer-service representatives for online products are available every day from 8 a.m. to 11 p.m. Eastern Time.
We want to know what you think about Customers Bank
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Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
