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Sunstate Bank Review: Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 3.5 |
| Checking | 3 |
| Money market account | 3.75 |
| CD | 3.75 |
| Trustworthiness | 4 |
| Total: | 3.5 |
Sunstate Bank Pros and Cons
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About Sunstate Bank
Sunstate Bank is a Hispanic American-led bank that serves a local community that's considered a "minority community" by the FDIC. It has three branches in Coral Gables, West Miami, and Miami.
Free ATMs are available at any Sunstate Bank location or through the Presto Network or NYCE Network. If you use an out-of-network ATM, you'll have to pay a $2 transaction fee.
Customer service is available by telephone Monday to Friday, from 9 a.m. to 5 p.m. ET.
The Sunstate Bank mobile app has 4.6 out of 5 stars on the Apple Store, and 3.6 out of 5 stars the Google Play store.
Sunstate Bank is FDIC-insured, so individual accounts are protected up to $250,000 and joint accounts are protected $500,000 per depositor.
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.
If you aren't a U.S. resident or have family members that live in another country, you may want to look at Sunstate Bank's international banking products and services. The bank has loan options for non-U.S. residents and international wire transfers. The bank is also partnered with local schools and organizations, participating in education events and 5k runs.
Is Sunstate Bank Trustworthy?
The Better Business Bureau rates businesses based on how they deal with customer issues. Sunstate Bank currently has an NR rating from the BBB because it hasn't received enough inquiries or complaints to evaluate the bank.
Something to keep in mind is that a good BBB rating won't necessarily guarantee that your relationship with a bank will be perfect. When you're choosing a bank or credit union to bank with, it's best to also get advice from friends and family if they've had experiences with the bank. You can also read online customer reviews.
Sunstate Bank doesn't have any public controversies.
Sunstate Bank FAQs
Is Sunstate Bank legit?
Yes, Sunstate Bank is a legitimate federally insured financial institution. Its bank accounts are FDIC-insured for up to $250,000 per depositor, per account category.
Who is the CEO of Sunstate Bank?
Lloyd DeVaux is the CEO of Sunstate Bank.
Does Sunstate Bank have Zelle?
Yes, Sunstate Bank offers Zelle through its mobile app.
Sunstate Bank Account Reviews
Sunstate Bank Regular Savings
The
If you're looking for a high APY in a savings account, you may prefer one of the accounts on our best high-yield savings accounts guide.
Sunstate Bank Interest Checking Account
The
If you don't think you'll be able to keep at least $1,000 in your account, you may prefer other accounts. Accounts with less than $1,000 don't earn any interest and have a
Sunstate CD
A
If you're searching for more competitive offerings, the best CD rates are available at online financial institutions.
Sunstate Bank Money Market Account
You may prefer the
If you can't manage at least $2,500 in your account daily, the
How Sunstate Bank Compares
Sunstate Bank vs. Interamerican Bank
You may prefer
Your decision between the two banks may also rest on what you prioritize in banking.
Sunstate Bank has a decent interest-earning checking account that pays interest on account balances of $1,000 or more. You'll need to meet certain requirements to waive a monthly service fee, though.
Sunstate Bank vs. U.S. Century Bank
If you are looking for a bank that has more bank locations or free ATM options, U.S. Century Bank may be more appealing. U.S. Century has 11 branches in six cities in Florida. It also has free ATMs at U.S. Century Bank locations or through the CUHere, NYCE, SUM, Mastercard, and Pulse networks.
Sunstate Bank might be a better option if you like to open a CD. The bank has 7-month and 13-month promotional CDs paying solid rates right now. Meanwhile,
Why You Should Trust Us: How We Reviewed Sunstate 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 interest rates for savings accounts.