Bangor Savings Bank 2022: No-Cost Online Banking


GOBankingRates score

Quick shot: Bangor Savings Bank, headquartered in Bangor, Maine, has been serving Mainers and New Hampshirites for over 160 years. The full-service, community-focused bank provides its members with standard banking products and financial services, such as personal checking accounts, online and mobile banking, wealth management resources, and business banking.

  • APYs
  • Benefits
  • Products
  • Customer service

How do we calculate this?

Pros

  • Full service bank offering checks, savings, loans, credit cards, insurance and investment.
  • Variety of savings account options, including money market and Holiday Club accounts.
  • Refunds for international ATM withdrawals.
  • Benefit verification has no monthly charges.

Cons

  • Branches only available in Maine and New Hampshire.
  • Minimum monthly service charge of $ 20 on Benefit Plus check for balances of less than $ 10,000.

Bangor Savings Bank overview

Bangor Savings Bank has 65 branches between Maine and New Hampshire and access to 55,000 ATMs worldwide through the Allpoint ATM network. Bangor Savings claims to be the first bank in Maine to offer free ATMs worldwide, in which you simply accept the costs of using the machine and the bank will reimburse you within three business days. Customers with Bangor Savings can also take advantage of free online banking.

Key features

Bangor Savings Bank received a GOBankingRates score of 4.7 out of 5 for its strong local service and varied account options. Here’s more:

APYs

Bangor Savings Bank does not offer the most competitive interest rates on your current and savings accounts. At most, you will win % APY in your savings account.

As for CDs, terms of 3 to 60 months are available. Rates vary depending on the duration of your engagement and go up % APY. CDs require a minimum of $ 500 to open an account.

Benefits

Banking with Bangor Savings Bank is very convenient. You will have access to a variety of banking products from savings and loans in one place. Best of all, customers can opt for ratio bank rates on loans and bank accounts. For example, Benefit Plus customers receive a 0.05% increase in CD rates and up to a point discount on certain loans and lines of credit.

Products offered

Bangor Savings Bank offers almost every type of banking product you may need. The most popular include:

Current accounts

There are three main current account options, all of which require a minimum deposit of $ 25 to open:

  • Benefit Check – The basic checking account option with no minimum daily balance requirements or monthly service charges.
  • Benefit Plus Checking: A staggered checking account that offers bank rates on loans and savings.
  • 62 Checking Benefit: Designed for people 62 and older, 62 Checking offers you the choice of free special checks or a 50% discount on initial and future Deluxe check orders.

Savings accounts

Bangor Savings has several savings account options, but its top three are state savings accounts, money market accounts, and profit savings accounts. You can also save for Christmas with a Holiday Club account.

CDs

Bangor Savings certificates of deposit range from 3 months to 5 years. The account includes a 0.05% rate increase if you are a Benefit Plus customer. A minimum balance of $ 500 is required to open a CD.

Customer service

Bangor Savings Bank Customer Service is available by calling 1-888-263-3099 Monday through Friday from 7:00 a.m. to 7:00 p.m., Saturdays from 8:00 a.m. to 2:00 p.m., and Sundays from 9:00 a.m .: 00 to 2:00. pm You can also request assistance by sending an email to bangorsupport@bangor.com.

As Bangor Savings Bank points out

Bangor Savings Bank stands out for its comprehensive service offerings that facilitate the choice of financial institution. Personal and business banking is available. In addition to online banking and a variety of accounts, there are mortgages, car loans and credit cards available. In addition, you can purchase car, home, property, life and disability insurance through the bank.

Comparable options of Bangor Savings Bank

To compare banks before choosing, consider the following alternatives.

Bangor Savings Bank vs Kennebec Savings Bank

Kennebec Savings Bank is another local financial institution in the state of Maine. However, the bank does not have as many locations as Bangor Savings. Both are full service banks that offer accounts, loans, investments and more. However, Kennebec Savings Bank rates are more competitive.

Bangor Savings Bank Vs. Bar Harbor Bank & Trust

Bar Harbor Bank & Trust is the third largest bank in the state of Maine with 49 branches in Maine, Vermont and New Hampshire. Like Bangor Savings Bank, Bar Harbor Bank & Trust offers customers a variety of financial services, including accounts, loans, investments and more. Bar Harbor Bank & Trust stands out for its digital presence. Its mobile banking application and online services are top notch compared to other local banks.

How to apply

Not all bank accounts can be opened online. Some accounts, such as CDs, require a visit to a local branch with your photo ID issued by the government or by calling 1-877-226-4671.

Current, savings and money market accounts can be opened online at your convenience. You’ll need to set up an online login and provide your social security number, photo ID, and funds to get started.

For whom is the best Bangor savings bank

Residents of Maine and some New Hampshire will benefit more from Bangor Savings Bank, if not because their charitable work directly affects the communities in which they operate and have access to branches. The bank offers a full range of financial services, from accounts to loans to insurance for anyone looking for a one-stop shop for their personal and business banking needs.

Final shot

Bangor Savings Bank is a good choice for individuals looking for a quality regional bank. While savings accounts have lower APY rates and higher balance requirements, there are many positives that make up for the inconvenience, such as money market accounts, a couple of current account options, and CDs with competitive rates.

FAQ

  • Is Bangor Savings Bank good?
    • Bangor Savings Bank has a strong reputation as a full service bank that has been operating in the area for over 160 years.
  • Is Bangor Savings Bank FDIC insured?
    • Bangor Savings Bank is a member of the FDIC, which insures up to $ 250,000 per depositor.
  • How many customers does Bangor Savings Bank have?
    • Bangor Savings has more than 227,000 customers and is growing. It manages $ 6.8 billion in assets.
  • Is Bangor Savings Bank a mutual bank?
    • Bangor Savings is a mutual bank and one of the oldest in New England. Mutual banks are owned by customers and typically offer quality, low-cost banking services.

Sean Dennison contributed to this article.

This content is not provided by Bangor Savings Bank. Any opinions, analyzes, criticisms, assessments or recommendations expressed in this article are solely those of the author and have not been reviewed, approved or endorsed by Bangor Savings Bank.

Rates are subject to change; unless otherwise stated, rates are updated periodically. All other account information is accurate as of June 19, 2022.

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About the author

Cynthia Paez Bowman is a personal finance writer with a degree in international business and journalism from American University. In addition to writing about personal finance, he writes about real estate, interior design, and architecture. His work has appeared on MSN, Brex, Freshome, MyMove, Emirates Open Skies magazine and more.



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