Table of Contents
GOBankingRates Rating
New York Neighborhood Financial institution
4.7
SCORE
Fast Take: On the lookout for a one-stop store for all of your banking? New York Neighborhood Financial institution is a regional financial institution with areas in 9 states within the Northeast and Midwest. It presents private and enterprise banking providers, together with checking and financial savings accounts, CDs, bank cards, mortgages, investments and insurance coverage.
- My Neighborhood Free Checking Account
- My Neighborhood Financial savings
- Even>Extra Rewards
- Banking Expertise
How did we calculate this?
Execs
- Money again rewards for utilizing your debit card
- Choices to waive month-to-month checking upkeep charges
- $1 minimal to open checking account choices
Cons
- Minimal stability required to earn curiosity on financial savings
New York Neighborhood Financial institution Overview
New York Neighborhood Financial institution is a full-service financial institution with 395 areas throughout 9 states within the Northeast and Midwest. It not too long ago merged with Flagship Financial institution, N.A., to create the 24th largest regional financial institution in america.
NYCB presents full-service banking, together with a number of checking and financial savings accounts, cash market and CD accounts, bank cards, investments and insurance coverage. The newly mixed entity has a big presence within the mortgage market: NYCB is the second-largest multi-portfolio lender within the nation, and Flagstar Mortgage is the seventh-largest financial institution originator of residential mortgages for the 12 months ending Sept. 30, 2022.
GOBankingRates has ranked New York Neighborhood Financial institution among the many Finest Checking Accounts of 2023.
Key Options
When selecting a financial institution, it is smart to match the options that you’ll really use. Listed below are a few of the key options you’ll discover at New York Neighborhood Financial institution.
My Neighborhood Free Checking Account
New York Neighborhood Financial institution’s My Neighborhood Free Checking account has no month-to-month upkeep charges if you enroll in e-statements and will be opened with as little as $1. There are not any charges for overdrafts, whether or not they’re for non-sufficient funds, uncollected funds or unavailable funds. You too can enroll in Overdraft Defend when you have a linked financial savings account; this prevents an merchandise from being returned for an inadequate stability. Clients with My Neighborhood Free Checking will pay payments straight from their account and may use Zelle to ship cash to family and friends.
GOBankingRates has ranked the New York Neighborhood Financial institution Neighborhood Free Checking Account among the many Finest Checking Accounts of 2023.
NYCB presents different checking accounts as properly, together with those who earn curiosity, and particular accounts for college kids and the navy.
My Neighborhood Financial savings Account
New York Neighborhood Financial institution presents a number of financial savings accounts, together with My Neighborhood Financial savings, My Neighborhood Tremendous Financial savings, Membership Financial savings, Children and College students Financial savings, and Excellent Well being Financial savings accounts. The fundamental account is My Neighborhood Financial savings, which requires a $100 minimal to open. It earns curiosity so long as you’ve got a minimal every day stability of $200, and the month-to-month price is waived when you have a every day stability of $500.
Even >Extra Rewards
NYCB checking accounts, together with the My Neighborhood Free Checking Account, additionally presents Even >Extra Rewards for utilizing your NYCB debit card for on a regular basis purchases. You earn factors for making on a regular basis purchases of issues like groceries, gasoline, leisure, prescriptions — even daycare! For each 2,000 factors you earn, you get $20 money in your account, as much as $500 per 12 months.
Banking Expertise
New York Neighborhood Financial institution combines the familiarity of a conventional financial institution with the know-how shoppers have come to count on from all banks. You are able to do all of your banking in a single place — get direct deposit, pay payments, save for short- and long-term objectives, get a bank card, get a house mortgage, plan and make investments on your future and shield your family members. Insurance coverage and funding merchandise are provided by way of LPL Monetary.You are able to do your banking in individual, on-line, or in your cell system.
NYCB Cell has a score of 4.7 out of 5 stars on the App Retailer and 4.4 out of 5 stars on Google Play.
Comparable Financial institution Choices
When evaluating related banks, you would possibly take a look at New York Neighborhood Financial institution because it compares to others. Listed below are two to think about.
Japanese Financial institution
Japanese Financial institution is a regional financial institution with areas all through jap New England. Its choices embody deposit accounts — many with no or low charges — in addition to mortgages and different loans, investments and insurance coverage merchandise.
United Neighborhood Financial institution
United Neighborhood Financial institution’s areas are within the South — Georgia, North and South Carolina, Tennessee, and Florida. This financial institution presents a full vary of banking providers, together with deposit accounts, loans, bank cards, and funding providers. United Neighborhood Financial institution will get excessive marks for its customer support.
Closing Take
In the event you’re on the lookout for a full-service financial institution that’s up-to-date on its know-how, New York Neighborhood Financial institution is properly price a glance. You are able to do all of your banking in a single place and have every thing simply obtainable in your cell system. The debit card money rewards are a very nice bonus.
New York Neighborhood Financial institution FAQ
Listed below are the solutions to a few of the most continuously requested questions on New York Neighborhood Financial institution.
- Does New York Neighborhood Financial institution nonetheless exist?
- Sure. NYCB not too long ago merged with Flagstar Financial institution and is now a division of Flagstar. NYCB acquired Flagstar and was merged into Flagstar Financial institution, N.A. The dad or mum firm of Flagstar Financial institution, N.A. is New York Neighborhood Bancorp, Inc. The corporate has its headquarters in Hicksville, New York, with regional headquarters in Troy, Michigan.
- Is New York Neighborhood Financial institution an actual financial institution?
- Sure. New York Neighborhood Financial institution has 395 brick-and-mortar areas in 9 totally different states, with a focus within the Northeast and the Midwest. It’s a division of Flagstar Financial institution, N.A. The corporate’s headquarters are in Hicksville, New York.
- Is New York Neighborhood Financial institution an excellent financial institution?
- New York Neighborhood Financial institution is a full-service financial institution that provides deposit accounts, mortgages, bank cards, and, by way of LPL Monetary, insurance coverage and investments. NYCB presents in-person banking at almost 400 areas in addition to on-line and cell banking.
- What sort of financial institution is New York Neighborhood Financial institution?
- New York Neighborhood Financial institution is a regional financial institution, with areas within the Northeast and Midwest. It presents full-service banking to shoppers and companies. NYCB prospects can financial institution in individual, on-line, or by way of the cell app. The financial institution presents deposit merchandise, loans, bank cards, investments, and insurance coverage. Deposits are FDIC-insured as much as $250,000 per depositor.
Information is correct as of Jan. 2 2023, and is topic to alter.
Editorial Be aware: This content material will not be offered by any entity coated on this article. Any opinions, analyses, critiques, scores or suggestions expressed on this article are these of the creator alone and haven’t been reviewed, accepted or in any other case endorsed by any entity named on this article.
To find out rankings for the Finest Checking Accounts, GOBankingRates regarded on the following components from all banks (excluding credit score unions): (1) whole property as sourced from the FDIC; (2) variety of department areas as sourced from the FDIC; (3) minimal deposit to open an account; (4) month-to-month checking price ratio (proportion based mostly on the minimal to keep away from the price in comparison with the month-to-month price itself); (5) APY on the checking account; (6) overdraft price quantity; and (7) the common cell app score between the Android and Apple app shops. All components had been then scored and mixed, with the bottom rating being greatest. Components (1), (2 and (5) had been weighted 0.5 instances, and issue (4) was weighted 1.5 instances.
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