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Ponce Bank Reviews


bestfor-icon Very Low Fee Structure and Generally Competitive Rates

Written by Lauren Le-Hair

About Ponce Bank | Read More


LS Score







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Opening Hours Opening Hours drop-down-btn
Mon - Thu 9:00 AM - 5:00 PM
Friday 9:00 AM - 6:00 PM
Saturday 9:00 AM - 1:00 PM
Sunday Closed
Holidays Closed
Contact Information Contact Information drop-down-btn
  • (718) 931-9000
  • Headquarters: 2244 Westchester Avenue Bronx, New York 10462
Social Media Social Media drop-down-btn

Ponce Bank Online Banking Review

Ponce Bank offers multiple bank accounts for personal and business use. These accounts have a low-cost structure, making them accessible to most people. They also come with rates that are slightly above the industry average.

Ponce Bank Online Banking Highlight


Other Fees

Online Banking Savings


Min Deposit

Min 0.01%

Min APY Savings

Online Banking Checking

Min 0.05%

Min APY Checking

Pros & Cons

  • con-icon Low fee structure across all accounts
  • con-icon Great mobile app
  • con-icon Wide range of account types
  • con-icon Offers close to average rates

Account types

  • Checking
  • Savings
  • Certificates of Deposit (CD)
  • Money Market Deposit Account (MMDA)


Account  1 Year 3 Years 5 Years
Premium Interest Checking 0.05% to 0.10%
Direct Interest Checking 0.05% APY
50+ Interest Checking 0.05% APY
Ponce Savings 0.10% APY
Passbook Savings 0.10% to 0.20% APY
MMDA 0.41% APY
High-Yield CD

0.25% APY — 5 months

0.45% APY — 13 months

0.45% APY — 48 months

Features Benefits & Rewards

  • Low-cost accounts
  • Somewhat competitive rates
  • Highly-rated mobile app

Opening an Account With Ponce Bank

For most accounts with Ponce Bank, you can apply at a physical branch or on their main website. But for a high-yield CD or MMDA, you’ll need to go to SaveBetter and complete the online application there.

Start by choosing either a personal or business account. Then, if you don’t already have an account, select “New User.” This will direct you to start creating your account, which involves choosing the type of account (checking or savings) you want to enroll in. You’ll also need to answer standard questions about yourself, such including personal and identifying information (ex. SSN, date of birth, and contact details). Once that’s done, Ponce may ask you to upload supporting documents to verify your identity.

The entire application only takes about 10 minutes to complete.

State Availability

- Available in all states

Written by Lauren Le-Hair linkedin-icon

As an experienced content writer, Lauren's passion for the finance sector is only exceeded by her love of writing. With years of experience writing for financial websites, she has honed her expertise and developed a deep understanding of the industry. Lauren specializes in delivering top-quality, specialized content with an expert tone of voice and a unique flair, leveraging her extensive knowledge and expertise. In addition, she holds a First Class Bachelor's degree from Staffordshire University.



Does Ponce Bank have personal and business banking accounts?

Yes, Ponce has checking and savings accounts for businesses and individuals. The bank also offers online financial solutions for both.

What types of loans or other financial products are available?

Ponce’s lending solutions include consumer loans, residential mortgage loans, business term loans, business equity installment loans, business lines of credit, and various commercial real estate loans.

What’s Ponce Bank’s connection to SaveBetter?

Ponce Bank works with SaveBetter to offer competitive, custom accounts to its customers. This includes its Money Market Deposit Account, which as an APY of 0.41%.

Customer Support

Overall, Ponce Bank’s customer support is of a high caliber. Since it’s a mid-sized bank, the phone wait times are shorter than what you’d find at a larger financial institution. However, you may still need to wait a few minutes or so when contacting them via phone.

It’s also possible to contact Ponce via secure contact form. Ponce promises to respond as quickly as possible, but response times can still vary.

Privacy & Security

Ponce Bank is transparent about its privacy policy and how it collects, uses, and shares personal data. The bank adheres to federal law on all accounts, which is standard in the industry. The type of information Ponce collects is also standard and includes: SSN, account balances and transactions, consumer credit history, and payment history.

Ponce only shares personal information for everyday business reasons or marketing purposes. It does not share data with third parties, affiliates, or non-affiliates.

In terms of security, Ponce uses certain digital and physical safeguards to protect consumer information and keep accounts secure against unauthorized use or theft.

In Conclusion

Overall, Ponce Bank is a well-established bank with a range of financial services and products designed to meet its customers’ needs. They offer everything from checking and savings accounts to loans (consumer, mortgage, business, construction development, etc.)

Ponce also has a community-centered approach to banking and is committed to economic development and customer success.

The main drawback is that Ponce’s rates are fairly standard for the industry. So, if you’re looking for something more competitive, you may need to turn to a different institution.

Brand Disclaimer

Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. The types of personal information we collect and share depend on the product or service you have with us.

When you are no longer our customer, we continue to share your information as described in this notice.

All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Ponce Bank chooses to share; and whether you can limit this sharing.