BankUnited Review
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At a glance
Overview
BankUnited is likely best for Miami-area residents, which is where the bank is primarily based, though its products can be accessed by anyone online. It offers competitive yields on certain deposit products, particularly its CDs.
Highlights:
Highly Rated AppHighlights:
CDs
Checking
Savings
MMA
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Checking rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
With 58 branches across Florida, New York and Texas, and deposit accounts available online, BankUnited is a highly accessible bank offering a wide array of products, including certificates of deposit, checking, savings and money market accounts. Its mobile app makes online banking easy, and with access to more than 55,000 fee-free Allpoint ATMs worldwide, your money is never far away. Some of its products offer robust yields, maximizing the most of your savings, but many others fall well short of the competition.
Pros
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BankUnited offers competitive rates for some CDs.
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Accounts are available to everyone nationwide.
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There’s a large ATM network made up of BankUnited and Allpoint ATMs.
Cons
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A $2.50 fee will be charged by BankUnited for using out-of-network ATMs.
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Higher yields for many deposit accounts can be found elsewhere.
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You may not be able to withdraw your principal early from a CD.
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BankUnited banking products
BankUnited savings overview
You can open the account with just $50. There’s a monthly maintenance fee of $5, which can be waived if you maintain a minimum daily balance of $300. Many other fees are present, including a $15 fee if you close your account within six months and a $2.50 fee charged by BankUnited for using an out-of-network ATM (fees charged by the ATM operator may also apply).
Pros
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The account can be opened with just $50.
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The monthly maintenance fee is easily waived.
Cons
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Much higher yields can be found elsewhere.
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Closing an account within six months of opening will incur a fee.
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There are a lot of fees to watch out for and APY information isn’t readily available on BankUnited’s website.
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BankUnitedAPYAPY last updated between 2/15 and 2/21.APYAPY last updated between 2/15 and 2/21.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | None |
| Non-sufficient funds fee | None |
| Monthly maintenance fees | $5 - $15 |
| Out-of-network ATM fee | $2.50 |
| Excessive transaction fee | $5 - $9 |
About BankUnited
BankUnited, established in 2009, is headquartered in Miami Lakes, Florida and currently offers a large range of financial services, ranging from consumer deposit products to small business lending and corporate treasury management services.Though primarily based in Florida, BankUnited has nearly 60 branches scattered across the Miami area, New York and Texas.
Customer experience
Customer service. BankUnited customers can reach representatives on the phone Monday through Friday from 8 a.m. to 8 p.m. Eastern time, and Saturday from 9 a.m. to 2 p.m. Eastern time. The bank is closed on Sundays. Customers can also use the online contact form to reach representatives by email. Along with its own fleet of ATMs, BankUnited is part of the Allpoint network, giving customers access to more than 55,000 surcharge-free ATMs worldwide.
Digital experience. The bank’s mobile app — which lets you deposit checks, pay bills and transfer money between internal and external accounts — is highly rated among iOS and Android users. Customers can link their Visa cards to Apple Pay and Google Pay. Customers can also send peer-to-peer payments through BankUnited’s app.
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.
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