Sterling National Bank Review 2022
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Hover for moreOverview
Sterling National Bank is best for someone who prefers a regional bank and lives near one of its branches.
Highlights
- Low Min Deposit
Overall
Sterling National Bank is a regional bank in New York in the midst of a merger with Webster Bank.
Pros
-
The opening deposit for deposit accounts is reasonable.
-
The bank offers a combination of branch banking and digital tools.
Cons
-
The bank’s website does not provide many details about bank products.
-
The yields on its deposit products are low.
Sterling National Bank bank products
Sterling National Bank savings overview
Pros
-
Only $25 is needed to open a savings account.
Cons
-
The yield is low.
-
You need to keep $500 in your account to avoid paying a monthly service fee.
Bank experience
In addition to its branch network, Sterling National Bank offers online and mobile banking and person-to-person payments through Zelle. It is a part of the MoneyPass network, which gives its customers access to more than 32,000 fee-free ATMs. You can schedule an appointment with a bank representative by using its website.
About Sterling National Bank
Sterling National Bank offers savings, checking and money market accounts, and certificates of deposit. The New York-based bank’s parent, Sterling Bancorp, entered into a merger agreement with Waterbury, Connecticut-based Webster Financial Corp. in April 2021. The deal is expected to close on or about Feb. 1, 2022.
The combined bank will operate under the Webster Bank name and have a presence in several Northeast metropolitan areas, including New York, Boston and New Haven and Hartford, Connecticut.
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.
