Webster Bank Review 2024
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At a glance
![Webster logo](https://a.storyblok.com/f/102997/200x39/3271dac762/webster_w200.png)
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Webster Bank is a regional bank with locations primarily in the New England area. It offers a wide variety of banking products, including a full suite of deposit accounts including checking accounts, savings accounts and certificates of deposit (CDs) in addition to health savings accounts (HSAs) and lending products.
Highlights
- ATM Fee Refunds
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.
![Bank logo](https://www.brimg.net/system/img/inst/6596_hires_logo_2x.png?width=95)
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.
![Bank logo](https://www.brimg.net/system/img/inst/11844_hires_logo_2x.png?width=95)
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 = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
![Bank logo](https://www.brimg.net/system/img/inst/9904_hires_logo_2x.png?width=95)
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.
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.
Overall
With a full suite of deposit products, Webster Bank offers the opportunity to consolidate your banking under one roof. However, low yields and hefty fees bog down the overall experience, making Webster Bank difficult to recommend. That noted, you’ll find some solid yields, including a handful of Webster CDs and its money market account.
Pros
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Some CDs offer competitive yields.
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The money market account offers a robust rate, even if it’s not the best rate in the market.
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Webster Bank offers five checking account options.
Cons
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Webster Bank only has 300 ATMs.
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Most accounts come with monthly fees.
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Webster still charges expensive overdraft and non-sufficient funds fees.
Webster banking products
Webster savings overview
Customers who have a Premium Checking account will get bumped up to the Premium Savings account, which waives the monthly fee and boosts the APY.
Pros
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Only $25 is required to open Webster’s Personal Savings account.
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The monthly fee can be waived by maintaining an average balance of $500.
Cons
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The Personal Savings account offers a very low yield.
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There’s a $5 monthly fee.
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WebsterAPYAPY last updated between 8/24 and 8/30.APYAPY last updated between 8/24 and 8/30.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.
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.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
![Bank logo](https://www.brimg.net/system/img/inst/6596_hires_logo_2x.png?width=130)
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.
Bank fees
Fee | Charged? |
---|---|
Overdraft fee | $35 |
Non-sufficient funds fee | $35 |
Monthly maintenance fees | $5 – $25 |
Out-of-network ATM fee | $3 |
Excessive transaction fee | None |
About Webster Bank
Webster Bank has its headquarters in Stamford, Connecticut with nearly 200 branches across four states. Webster Bank offers checking accounts, savings accounts, CDs, health savings accounts (HSAs) and lending products.
Customer experience
Customer service. The bank doesn’t have 24/7 customer service, but its hours make it easy for most people to reach the bank. You can call a customer service representative 7 a.m. to 10 p.m. ET during the week and 8 a.m. to 8 p.m. ET on weekends.
Digital experience. Webster Bank offers a mobile app on the Apple App and Google Play stores. Both versions of the app received high marks, with the iOS version having the higher rating. Customers have access to Zelle.
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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