Is Customers Bank a good bank?
Customers Bank is frequently recognized for its tech-forward, digital-first approach to banking. It has been named a "Best Online Bank" by major financial news services, which highlighted its competitive interest rates on savings products, lack of monthly service fees on certain high-yield accounts, and lower-than-average overdraft penalties. As a subsidiary of Customers Bancorp, Inc. (NYSE: CUBI), it operates as a full-service, super-community bank with substantial assets and is a member of the Federal Reserve System, with deposits insured by the FDIC. For customers seeking a bank that blends digital convenience with robust customer support—often including seven-day-a-week phone assistance—it is considered a strong choice. Its reputation is built on providing accessible, modern financial tools to a broad range of consumers and small-to-medium businesses.
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Yes, Customers Bank is a legitimate, large-scale financial institution and one of the top-performing banking companies in the United States [1.1.1].
Yes, Customers Bank is an FDIC-insured institution [1.2.1]. All deposits held directly with the bank qualify for federal deposit insurance coverage up to $250,000 per depositor, subject to standard regulatory conditions [1.2.1].
Customers Bank is not Upstart itself, but the two companies have a long-standing strategic partnership [1.3.1].