Sterling National Bank Review 2020

Published May 2020 by Matthew Goldberg

AT A GLANCE
3.4
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Bankrate Score

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Bank Vault

Low Minimum Deposit

Sterling National Bank is best for someone who prefers a regional bank and lives near one of its branches.

  • CDs
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    3.5
  • Savings
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    3.5
  • Checking
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    3.7
  • MMAs
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    3.0
  • MORE HIGH-YIELD OPTIONS

    Overall

    3.4

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    Bankrate Score

    Sterling National Bank is a regional bank in Montebello, New York, and has more than 90 branches.

     

    What we like

    • Sterling National Bank offers IRA CDs and IRA money market accounts.

    • Sterling National Bank belongs to the MoneyPass network, which gives it access to 32,000 fee-free ATMs.

    • Provides branch access.

    What we don't

    • Sterling National Bank doesn’t have a lot of the information online needed to score its products. So, it’s tough to compare its offerings to other banks and learn everything you need to know about an account.

    CD rates

    3.5

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    Bankrate Score

    Sterling National Bank offers CDs with terms ranging from 30 days to five years. The bank also offers jumbo CDs that require at least $100,000.

    Sterling National Bank didn’t return multiple emails from Bankrate for information about its accounts.

    What we like

    • Sterling National Bank offers very short CD terms (30 days) and long-term CDs (five years).

    • Sterling National Bank has IRA CDs.

    What we don't

    • Sterling National Bank doesn’t offer CDs with a term longer than five years.

    • Few details about the product are available online.

    Savings accounts

    3.5

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    Bankrate Score

    Sterling National Bank has three savings accounts: the Choice Savings, Premium Savings and the Student Savings account.

    The Premium Savings account is free if you also have the Premium Checking account.

    Rates aren’t listed online. The bank’s website advises visitors to go to a local financial center to find out more about the accounts.

    What we like

    • The Sterling National Bank Student Savings account gives high school and college students a fee-free savings account until they turn 24 years old.

    • Sterling National Bank offers multiple savings accounts.

    What we don't

    • Rates aren’t listed online.

    Checking accounts

    3.7

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    Bankrate Score

    Sterling National Bank has four checking accounts: the Choice Checking account, Premium Checking account, Simple Checking account and the Student Checking account.

    The Simple Checking account doesn’t have a monthly fee if you enroll in electronic statements.

    With the Simple Checking account, you won’t have unlimited check writing. You’re limited to 15 free checks per month.

    You’ll need $25 to open the Simple Checking account, according to Bankrate’s Best Banks 2019 research.

    What we like

    • Sterling National Bank offers multiple account options.

    • The Student Checking account refunds up to $20 worth of out-of-network ATM fees per statement cycle.

    • You will have access to Zelle to send people you know money from the bank app or from online banking.

    What we don't

    • The Simple Checking account doesn’t have unlimited check writing. You’re limited to 15 free checks per month.

    Money market accounts

    3.0

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    Bankrate Score

    The Sterling National Bank Money Market Account offers multiple rate tiers; however, you won’t find more information about this account on Sterling National Bank’s website. Sterling National Bank didn’t return multiple emails from Bankrate for information about its accounts.

    What we like

    • The more money you put into this account, the higher the yield.

    • Sterling National Bank offers IRA money market accounts.

    What we don't

    • Few details provided on bank’s website.

    Bank experience

    Sterling National Bank operates more than 90 branches. It is a part of the MoneyPass network, which gives its customers access to more than 32,000 fee-free ATMs.

    About Sterling National Bank

    Sterling National Bank operates more than 90 locations and has a history dating back to 1888. The bank's headquarters is located in Montebello, New York.

    Sterling National belongs to the MoneyPass network, giving its customers access to more than 32,000 fee-free ATMs across the country.

    Sterling National Bank doesn’t provide a lot of information online related to the categories Bankrate scores. In those undisclosed instances, Bankrate rated the bank with a three.

    Matthew Goldberg Twitter Created with Sketch. @MATTATBANKRATE

    Matthew Goldberg Twitter Created with Sketch. @MATTATBANKRATE

    Matthew Goldberg is a consumer banking reporter at Bankrate. Nearly his entire career has either been as a reporter or working in financial services, in banking and insurance. His writing has been featured on MSN, appeared in Sports Illustrated On Campus, The Atlanta Journal-Constitution, The Buffalo News and other publications. He has been honored by both the Illinois Associated Press Editors Association and the Illinois Press Association. Matthew is currently on the Society for Advancing Business Editing and Writing (SABEW) Board of Governors. He has previously served on conference planning committees, the training committee and the finance committee for SABEW, which is the world's largest and oldest organization of business and financial journalists. His reporting career has included working as a staff reporter at two daily newspapers. He earned a bachelor’s degree at Illinois State University and an MBA at William Paterson University.