Established in 1888, Astoria Bank is the second largest thrift depository in New York. The bank provides retail and business customers with various financial products. Astoria Bank can be found in four states with correspondent relationships covering thirteen states and the District of Columbia. The majority of their business is conducted on the East Coast.
- Banking solutions
- Services and features
- Business banking
Astoria Bank offers banking solutions for personal and business needs. Depending on the client type, Astoria Bank can help with financial planning, managing, and even borrowing. All of Astoria Bank customers can rest assured that their online and mobile banking is conducted in a completely secure manner and available for authorized users only.
Services and Features
On a personal/individual level, Astoria Bank offers a wide range of banking services. Astoria Bank offers a number of accounts to help with financial and banking needs. Whatever the stage of life, Astoria Bank will have an appropriate account for the moment. These services include, but are not limited to the following:
- Checking accounts: whether the client is just starting out, building a career or planning a retirement strategy, Astoria has viable account option.
- Start Account: only clients ages 13-24 can apply with a $25 minimum deposit to open. There is no monthly service charge and it comes with online and mobile banking.
- Simple Account: the simple account is designed for those 18 and up and also requires a $25 minimum deposit to open. There is a monthly service charge and online, mobile, and telephone banking is an included features.
- Simple+ Account: this account requires $100 minimum deposit to open and there is a $10 monthly service charge. These accounts are able to earn interest and are compatible with the Astoria Bank mortgage.
- Select Account: Also requires a $100 minimum deposit to open and a $15 monthly service charge. The account earns interest and is eligible for cash bonuses. There are preferred rate on insured MMA accounts and all ATM fees are waived via rebates.
- Smart Account: the same minimum deposits and monthly service charges as the select account, the smart account is set up based on a tier-structured account with the most features and benefits Astoria has to offer.
- Savings accounts: there are four different savings accounts available for any circumstance.
- Passbook Savings: $500 minimum opening deposit and the account earns interest and is backed by the FDIC.
- Statement Savings: There is 24/7 account access with a minimum opening deposit of $500 and easy-to-read statements included. Also FDIC insured.
- Insured Money Maker: requires a $2,500 minimum opening deposit, but comes with higher interest rates for higher balances.
- Certificate of Deposit: $500 minimum opening deposit that earns interest and is FDIC insured.
- Credit Cards: There are three cards available to Astoria customers. All cards include free access to FICO credit scores and online/mobile account access. There is also fraud protection where the account is monitored 24/7.
- Branch Services: services include foreign currency, money orders, gift cards and travelers cheques, safe deposit boxes, direct deposit, and currency wires.
Businesses can also receive similar treatment to personal clients. Both checking and savings accounts are available. Additionally, lines of credit and loans are options for business owners. Services regarding employment benefits and management can also be included. Cash management is also a feature of the Astoria Bank business banking platform.
Astoria Bank does not offer a wide variety of loans to their personal/individual clients. For instance, clients will not be able to obtain student loans or auto loans through the Astoria Bank lending platform. The only loans that Astoria Bank customers will be able to obtain include the following:
- Mortgages/Home Financing
- Home equity lines of credit
- Business/Commercial Loans
There are also fees applied to most of the Astoria Bank checking and savings accounts. While there are some exceptions, this monthly maintenance charge will be applied. There are ways around the monthly fee, but various restrictions and minimums will need to be met. If these restrictions are not met, the client will see the monthly charge.
The Bottom Line
Astoria Bank provides a number of online and branch services to their clients, whether it is for personal or commercial needs. Those that use Astoria Bank for their financial needs can expect the following from the service:
- Personal banking solutions
- Business banking services
- Online and mobile features
- Limited lending
- Monthly maintenance fees