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Ocean Bank Review: Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 3.75 |
| Checking | 3.75 |
| CD | 3.75 |
| Money market account | 3.25 |
| Trustworthiness | 5 |
| Total | 4 |
Ocean Bank Review Pros and Cons
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About Ocean Bank
Ocean Bank is a Hispanic American-owned bank with 23 branches in South Florida. It has branches in Miami-Dade County (Miami, Miami Beach, Aventura, Coral Gables, Doral, Hialeah, and Pinecrest) and Broward County (Fort Lauderdale, Hollywood, and Weston).
There are free ATMs at branches, and you can use ATMs at Publix locations for free.
The Ocean Bank mobile app has 4.9 out of 5 stars in the Apple store, and 4.7 out of 5 stars in the Google Play store.
To contact customer support, call Monday through Friday from 8 a.m. to 6 p.m. ET.
Your deposits are FDIC-insured for up to $250,000, or up to $500,000 for joint accounts.
Is Ocean Bank Trustworthy?
Ocean Bank does not have any recent public controversies.
The Better Business Bureau gives Ocean Bank an A- rating because it has failed to respond to three customer complaints. A strong BBB grade indicates a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
A good BBB score doesn't guarantee you'll have a smooth relationship with a company, though. You may still want to read online customer reviews or ask family and friends about their experiences with Ocean Bank.
The Role of Hispanic American-led Financial Institutions
Hispanic American-owned financial institutions are integral to providing products and services to underserved communities. These institutions also help address banking gaps among Hispanic American communities.
The Ocean Bank website allows you to change the language from English to Spanish by clicking on a small tool on the upper right corner. The bank also closely serves its local community. Ocean Bank is partnered with the Education Fund and provides resources to Miami-Dade County public schools.
Ocean Bank FAQs
Is Ocean Bank legit?
Yes, Ocean Bank is a legitimate financial institution. The bank is federally insured by the FDIC, which means up to $250,000 per depositor, per category is safe in a bank account in the event a bank fails.
How to open an account with Ocean Bank?
You may open an Ocean Bank account online or at a branch. Ocean Bank locations are only in South Florida.
Does Ocean Bank have Zelle?
Yes, Ocean Bank has Zelle.
Does Ocean Bank have an app?
Yes, Ocean Bank has a mobile app on the Google Play store and Apple store.
Ocean Bank Account Reviews
Ocean Bank Personal Savings Account
The
Ocean Bank Free Personal Checking Account
The
Ocean Bank CD
You may like an
Ocean Bank Personal Money Market Account
The
How Ocean Bank Compares
Ocean Bank vs. Popular Bank
Popular Bank has more branches in the US than Ocean Bank, so it may be a more convenient option for you.
Popular Bank also may be worth exploring if you'd like to be a part of a rewards program. Through Popular Bank's program, you may qualify for the lowest tier if you have at least $5,000 combined in all of your accounts. The rewards program helps you waive fees and earn higher rates on certain accounts.
You still might consider Ocean Bank if you'd like to open an everyday checking account. It's a bit easier to waive the monthly service fee on the
Ocean Bank vs. Banesco USA
Ocean Bank may be a better choice than Banesco USA if you prioritize banking with a financial institution that has a large branch network. Ocean Bank has 23 locations in South Florida while Banesco USA has 5 locations in Florida.
Banesco USA may be a good option if you want to open CDs. Banesco USA has more CD terms with competitive interest rates. Banesco USA also lets you open a CD with
Why You Should Trust Us: How We Reviewed Ocean Bank
At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using our banking methodology and CD methodology.
Each account receives a rating between 0 and 5. We evaluate a bank's ethics, customer service, and mobile app for all accounts. We also consider different features for specific types of bank accounts. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.