Banking

US Century Bank review: Hispanic American-owned bank with competitive CD rates

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

Overall bank rating

Pros and cons

Savings

Annual Percentage Yield (APY)

0.05% APY

  • Pros & Cons
  • Details

  • Pros
    • Only charges a quarterly fee; many banks charge a monthly fee
    • Easy to waive $5 quarterly service fee
    Cons
    • $250 minimum opening deposit
    • $5 quarterly service fee
    • Low APY
    • Hispanic American-owned bank with 11 branches in Florida (Miami, Miami Lakes, Hialeah, Coral Gables, Aventura, Hollywood)
    • Waive $5 quarterly service fee by maintaining a $250 daily balance
    • Interest compounded daily, paid monthly
    • Member FDIC

    Many banks charge a monthly service fee on savings accounts, but the US Century Bank Personal Savings Account only has a $10 quarterly fee. If you maintain a $250 daily balance, you will waive the quarterly fee. However, you would earn a much higher interest rate with an online high-yield savings account than with US Century Bank.

    Checking

    Annual Percentage Yield (APY)

    None

  • Pros & Cons
  • Details

  • Pros
    • No monthly service fees
    • Link to savings for free overdraft protection
    Cons
    • $100 minimum opening deposit
    • $38 overdraft fee
    • $3 out-of-network ATM fee
    • Hispanic American-owned bank with 11 branches in Florida (Miami, Miami Lakes, Hialeah, Coral Gables, Aventura, Hollywood)
    • Free ATMs in the US Century Bank, CUHere, NYCE, SUM, Mastercard, and Pulse networks
    • Member FDIC

    The US Century Bank Personal Checking Account doesn’t charge any monthly or quarterly service fees. Keep an eye out for ATM fees if you don’t live near a machine in US Century’s free network, though.

    CD

    Annual Percentage Yield (APY)

    0.30% to 0.50% APY

  • Pros & Cons
  • Details

  • Pros
    • Competitive APY
    • Low early withdrawal penalties
    Cons
    • $1,000 minimum opening deposit
    • Hispanic American-owned bank with 11 branches in Florida (Miami, Miami Lakes, Hialeah, Coral Gables, Aventura, Hollywood)
    • Terms range from 6 months to 5 years
    • Early withdrawal penalties range from 1 month of interest to 3 months of interest
    • Interest compounded daily, paid monthly
    • Member FDIC

    The US Century Bank Certificate of Deposit is probably the bank’s strongest product. It pays competitive rates, especially on shorter terms.

    Money market account

    Annual Percentage Yield (APY)

    0.10% to 0.25% APY

  • Pros & Cons
  • Details

  • Pros
    • Includes a debit card
    • Includes paper checks
    Cons
    • $500 minimum opening deposit
    • $10 monthly service fee
    • Low APY
    • $3 out-of-network ATM fee
    • Hispanic American-owned bank with 11 branches in Florida (Miami, Miami Lakes, Hialeah, Coral Gables, Aventura, Hollywood)
    • Waive $10 monthly service by maintaining a $500 daily balance
    • Tiered interest rates: Earn a higher rate when your balance reaches $50k
    • Interest compounded daily, paid monthly
    • Member FDIC

    You might like the US Century Bank Gold Personal Money Market Account if you can keep $500 in your account, because then you’ll waive the $10 monthly service fee. The account includes a debit card and paper checks, so it could be a good place to store your emergency fund and access your savings quickly if necessary.

    How US Century Bank works

    US Century Bank is a Hispanic American-owned bank in Florida. It has 11 branches in Miami, Miami Lakes, Hialeah, Coral Gables, Aventura, and Hollywood. There are also free ATMs in the US Century Bank, CUHere, NYCE, SUM, Mastercard, and Pulse networks.

    Branches are open Monday through Thursday from 9:00 to 4:00 p.m. ET, and Friday from 9:00 a.m. to 5:00 p.m. ET.

    The US Century Bank mobile app has 3.8 out of 5 stars in the Apple store, and 4.2 out of 5 stars in the Google Play store.

    Your deposits are FDIC insured for up to $250,000, or up to $500,000 for joint accounts.

    Is US Century Bank trustworthy?

    US Century Bank doesn’t have any recent public controversies.

    The Better Business Bureau gives US Century Bank an A+ in trustworthiness. A great BBB score signifies that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.

    A strong BBB grade doesn’t guarantee you’ll have a smooth relationship with a bank, though. You may still want to ask friends and family about their experiences with US Century Bank, or read online customer reviews.

    How US Century Bank compares to similar institutions

    We’ve compared US Century Bank to two other Hispanic American banks in Florida: Ocean Bank and Popular Bank.

    US Century Bank vs. Ocean Bank

    Both US Century Bank and Ocean Bank have free

    checking accounts
    . You may prefer US Century for CDs, because it pays better rates. But Ocean Bank has more branches around Florida, so it might be the more convenient option.

    US Century Bank vs. Popular Bank

    Popular Bank pays higher

    CD rates
    than US Century Bank. It also has a rewards program that helps you waive monthly fees. But if you don’t have enough money in your accounts to qualify for the Popular Bank rewards program, it may be easier to waive fees with US Century Bank.

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