BankUnited Review
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Edited by
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At a glance
Overview
BankUnited is best for easy ATM access, as it partners with the Allpoint network to provide over 55,000 ATMs when you need to make a deposit, withdraw cash or check your balance. It also 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 Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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 Savings rating = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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 Savings rating = 4.4/5
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.
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.
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.
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.
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 online deposit accounts available and 60 branches across Florida, New York and Texas, BankUnited is a highly accessible bank offering a wide array of products, including certificates of deposit (CDs), checking accounts, savings accounts 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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Competitive rates for some CDs
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Accounts available nationwide
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Large ATM network of BankUnited and Allpoint ATMs
Cons
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$2.50 fee for out-of-network ATMs
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Not the highest yields for deposit accounts
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Fee for withdrawing principal early from CDs
BankUnited banking products
BankUnited savings overview
Pros
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Low $50 minimum initial deposit
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Can waive monthly maintenance fee
Cons
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Not the highest yields
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Fee applies for account closure within first six months
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Poor online transparency
BankUnited CD overview
Pros
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Very competitive rates for longer-term CDs
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Convenient and user-friendly BankUnited app
Cons
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Higher yields elsewhere for CD ladders
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No IRA CDs
BankUnited money market overview
Pros
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Unlimited transactions
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Fee-free access to BankUnited and Allpoint ATM withdrawals
Cons
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$15 monthly maintenance fee (waived with high balance)
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$2,500 minimum opening deposit
BankUnited checking overview
Pros
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Maximum $50 opening deposit for Value Checking
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No overdraft fees
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Free access to all BankUnited and Allpoint ATMs
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Person-to-person transactions through BankUnited’s app
Cons
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No early direct deposit
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No fee checks
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$2.50 fee for out-of-network ATMs
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 |
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.
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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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