Intro – Webster Bank Reviews & Ranking
Webster Bank was recently ranked and reviewed by AdvisoryHQ as a top rated banking firm. Firms on our top rated lists were selected after they successfully passed AdvisoryHQ’s groundbreaking four-step banks and credit unions selection methodology.
Click here for a step-by-step breakdown of the methodology and selection process used during our Webster Bank review: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.
The Webster Bank review below provides a detailed assessment, including some of the factors used by AdvisoryHQ News in its ranking and selection of Webster Bank.
Webster Bank Review
Webster Bank is often considered one of the best banking firms and a leading bank throughout several states, including Massachusetts, Connecticut, New York, and Rhode Island. As a contender for one of the top banking firms, Webster offers a variety of services for personal, business, commercial, and private banking customers.
Webster has been serving customer needs since 1935. Over the years the bank has grown to become one of the premier regional banks in the Northeast, with more than $24 billion in assets, 180 banking centers, and nearly 3,000 employees.
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Key Factors Leading Us to Rank This Firm as One of This Year’s Top Banking Firms
Upon completing our Webster Bank review, Webster Bank was included in AdvisoryHQ’s ranking of this year’s best banking firms based on the following factors.
Webster Bank Review: Opportunity Checking
It can often be challenging for people who have had past issues with checking accounts or their credit to open a new checking account, yet it’s almost a necessity in today’s modern environment.
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Webster is a unique bank because one of their checking account options is called “Opportunity Checking.” This account is designed for those customers who have had past challenges, and it’s easy to qualify, includes a free Visa debit card, and an account can be opened with as little as $50.
There is no per check charge, account holders can use online banking and bill pay for free, and they can also sign up to receive direct deposit. The monthly fee for this account is also significantly reduced with direct deposit.
Webster Bank Review: WebsterOne Relationship Checking
Along with Opportunity Checking, this pick for one of the top banking firms also includes the WebsterOne Relationship Checking account. This relationship account offers competitive interest earnings on deposits, and there is no Webster fee charged at any ATM.
This account features perks such as special loan discounts on home equity loans and lines, mortgages, and personal loans when there’s an automatic payment deduction from this Webster personal checking account.
This account also includes combined balances to help holders avoid fees, access to WebsterOne Savings options and higher CD rates, and the opportunity to use the Visa Bonus Rewards Card. When the account is linked to a Webster Complete Business Checking account, the monthly service fee is waived entirely.
Webster Bank Review: Military Banking Benefits
Webster Bank offers special services for those customers affiliated with the military. These benefits are exclusively for veterans and U.S. Military active duty members.
These programs include access to the WebsterOne Relationship Checking account, with no monthly fee and no minimum balance requirement, a free WebsterOne Savings accounts with higher rates, free travelers cheques, and rebates of ATM fees charged by other banks.
Veterans may be able to take advantage of discounts on business loans under the SBA Veterans Advantage program, and there is an option for military personnel to receive a $500 mortgage rebate at closing.
Webster Bank Review: Premier Savings
Webster Bank offers several different savings account options, including WebsterOne Savings, their Premium Money Market Savings, Value Savings, and Holiday Club Savings
Their Premier Savings account features the highest interest rates, has no service charges, and offersa dedicated customer service line for Premier customers. It can be paired with a Premier Checking account, and the minimum opening balance is only $5.
Bigger balances earn better rates; plus, this account is FDIC insured, and account holders can access their information through Online Banking.
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Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
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