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On This Page
- At a glance
- Overall
- Webster bank products
- Bank fees
- About Webster Bank
- Customer experience
- Review Methodology
At a glance
3.6
Rating: 3.6 stars out of 5
Bankrate Score
CDs
Rating: 3.6 stars out of 5
Checking
Rating: 3.8 stars out of 5
Savings
Rating: 2.2 stars out of 5
MMA
Rating: 3.2 stars out of 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.
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
Sponsored offers
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.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
About our Sponsored Offers
Our list of sponsored accounts may offer competitive rates, multiple times higher than the national average. All of these offers have FDIC or NCUA insurance, have competitive minimums and few fees. We’ve vetted the credit worthiness of these banks to simplify your search.
Member FDIC
Savings Account
4.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 7/10/2024
Rating: 4.4 stars out of 5
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.
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.
$1
Min. balance for APY
Promoted offer:
American Express
Member FDIC
Savings Account Details
4.25
%
APY
$1
Min balance for APY
Offer rate as of7/10/2024
Interest rate4.16%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC.
Savings Account
5.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 7/10/2024
Rating: 5 stars out of 5
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: No fees. Easy deposits and quick withdrawals.
Jenius Bank
Member FDIC.
Savings Account Details
5.25
%
APY
$0
Min balance for APY
Offer rate as of7/10/2024
Interest rate5.25%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No fees. Easy deposits and quick withdrawals.
Member FDIC
Savings Account
5.30
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 7/10/2024
Rating: 4.9 stars out of 5
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.
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.
$0
Min. balance for APY
Promoted offer: No account fees, unlimited withdrawals, better for the planet
Forbright Bank
Member FDIC
Savings Account Details
5.30
%
APY
$0
Min balance for APY
Offer rate as of7/10/2024
Interest rate5.30%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No account fees, unlimited withdrawals, better for the planet
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.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.4
Rating: 4.4 stars out of 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.
Bankrate Score
4.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 7/10/2024
$1
Min. balance for APY
Promoted offer
American Express
Member FDIC
Savings Account Details
4.25
%
APY
$1
Min balance for APY
Offer rate as of7/10/2024
Interest rate4.16%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC.
Savings Account
5.0
Rating: 5 stars out of 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.
Bankrate Score
5.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 7/10/2024
$0
Min. balance for APY
Promoted offer: No fees. Easy deposits and quick withdrawals.
Jenius Bank
Member FDIC.
Savings Account Details
5.25
%
APY
$0
Min balance for APY
Offer rate as of7/10/2024
Interest rate5.25%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No fees. Easy deposits and quick withdrawals.
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 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.
Bankrate Score
5.30
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 7/10/2024
$0
Min. balance for APY
Promoted offer: No account fees, unlimited withdrawals, better for the planet
Forbright Bank
Member FDIC
Savings Account Details
5.30
%
APY
$0
Min balance for APY
Offer rate as of7/10/2024
Interest rate5.30%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No account fees, unlimited withdrawals, better for the planet
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 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.
Bankrate Score
5.00
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 7/10/2024
$0
Min. balance for APY
Promoted offer: Plus, no monthly fees and unlimited free external transfers
LendingClub
Member FDIC
Savings Account Details
5.00
%
APY
$0
Min balance for APY
Offer rate as of7/10/2024
Interest rate5.00%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Plus, no monthly fees and unlimited free external transfers
Member FDIC
Savings Account
4.7
Rating: 4.7 stars out of 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.
Bankrate Score
4.40
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 7/10/2024
$0
Min. balance for APY
Promoted offer
Marcus by Goldman Sachs
Member FDIC
Savings Account Details
4.40
%
APY
$0
Min balance for APY
Offer rate as of7/10/2024
Interest rate4.40%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
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
Some CDs offer competitive yields.
The money market account offers a robust rate, even if it’s not the best rate in the market.
Webster Bank offers five checking account options.
Cons
Webster Bank only has 300 ATMs.
Most accounts come with monthly fees.
Webster still charges expensive overdraft and non-sufficient funds fees.
We want to know what you think about Webster
Do you have experience with Webster Bank? Let us know your thoughts.
Webster banking products
2.2
Rating: 2.2 stars out of 5
Bankrate Score
Compare top savings rates
Webster savings overview
Webster Bank’s base savings account, called Personal Savings, requires a $25 minimum deposit to open. The account comes with a monthly maintenance fee of $5, which can be waived if you maintain an average balance of $500 across deposit accounts. The base APY is a rock-bottom rate, so you’ll easily find better offerings elsewhere.
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
Only $25 is required to open Webster’s Personal Savings account.
The monthly fee can be waived by maintaining an average balance of $500.
Cons
The Personal Savings account offers a very low yield.
There’s a $5 monthly fee.
-
Webster
APY
APY last updated between 7/3 and 7/9.
APY
APY last updated between 7/3 and 7/9.
National average APY
How 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.
Webster savings rates
Date
Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.
Webster
APY
APY last updated between 7/3 and 7/9.
APY
APY last updated between 7/3 and 7/9
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
Compare Offer
Sponsored Offer
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.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
Member FDIC
Savings Account
4.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 7/10/2024
Rating: 4.4 stars out of 5
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.
$1
Min balance for APY
American Express
Member FDIC
Savings Account Details
4.25
%
APY
$1
Min balance for APY
Offer rate as of7/10/2024
Interest rate4.16%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Promoted offer:
3.6
Rating: 3.6 stars out of 5
Bankrate Score
Compare top CD rates
Webster CD overview
Webster Bank offers CDs with terms ranging from one to five years. The seven-month CD offers the highest rate, with most other terms offering paltry yields. That noted, the one-year CD is offering a solid rate. You’ll need at least $500 to open a Webster Bank CD.
Pros
Webster Bank has the term lengths most savers need.
The required minimum deposit is just $500, which is lower than other banks require.
Cons
Most of the terms offer low yields.
Compare Offer
Sponsored Offer
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.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
Member FDIC
CD
5.15
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 7/10/2024
Rating: 4.9 stars out of 5
Bankrate CD 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.
$500
Min. deposit
1yr
Term
Marcus by Goldman Sachs
Member FDIC
CD Details
5.15
%
APY
$500
Min. deposit
1yr
Term
Offer rate as of7/10/2024
Minimum deposit$500
Promoted offer:
3.2
Rating: 3.2 stars out of 5
Bankrate Score
Compare top money market rates
Webster money market overview
Webster Bank is now offering a money market account that earns a higher balance than the base savings account. The yield is solid, but still falls short of top-notch rates offered at other banks. You’ll need $2,500 to open the account, and there’s an $8 monthly fee, which can be waived if you maintain $2,500 in the account.
You can boost your APY by opening Webster’s Advantage Money Market instead, but you’ll need at least $10,000 to open the account.
Pros
The money market account offers a higher yield than most other deposit products at Webster Bank.
The monthly fee can be waived.
Cons
There’s an $8 monthly fee.
You must maintain a $2,500 balance to waive the monthly fee.
Higher yields can be found elsewhere.
3.8
Rating: 3.8 stars out of 5
Bankrate Score
Compare top checking rates
Webster checking overview
Webster Bank has five different checking accounts.
The Choice Checking account, scored for this review, requires a $25 minimum deposit to open. It also comes with a $25 monthly fee, but it can be waived by: maintaining a $1,500 balance in the savings account; maintaining $3,000 across deposit accounts (including savings and CDs); setting up direct deposit or recurring ACH transactions; or by making at least 10 debit card purchases per statement cycle.
The account comes with unlimited check writing and reimbursed up to $20 a month in ATM surcharge fees.
Of note, the Webster’s Premier Checking account offers unlimited reimbursem*nts for ATM surcharge fees — fees charged by other banks when using an out-of-network ATM. And it doesn’t charge Premier Checking customers for using out-of-network ATMs throughout the world.
Pros
The Choice Checking and Premier Checking accounts reimburse ATM surcharge fees.
Monthly fees can be waived.
The Choice Checking account comes with unlimited check writing.
Cons
Webster Bank has a $35 overdraft fee.
Most of Webster’s checking accounts charge monthly fees.
Compare Offer
Sponsored Offer
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.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
Max-Rate Checking provided by Morgan Stanley Private Bank, National Association, Member FDIC
Checking Account
3.00
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 7/10/2024
$0
To open
$5000
To avoid fees
E*TRADE
Max-Rate Checking provided by Morgan Stanley Private Bank, National Association, Member FDIC
Checking Account Details
3.00
%
APY
$0
To open
$5000
To avoid fees
Offer rate as of7/10/2024
Minimum to avoid fees$5000
Monthly fees$15
Overdraft/NSF fees$0
Out of network ATM fee$0
Has online accessYes
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
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.
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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