Amerasia Bank is a Chinese-American full service bank with a good amount of account options. To find out if Amerasia Bank is right for you, continue reading the review below.
Located in Flushing, New York, Amerasia Bank aims to provide banking services for everyone, but especially other Asian-Americans.
Checking Account Options
Amerasia Bank has a good selection of checking accounts with low minimum requirements; however, their website doesn’t indicate an opening deposit for some of their accounts, so, it is best to call Amerasia Bank for those.
This checking account is pretty standard.
There’s a monthly fee of $10, but if you can waive it by keeping a daily balance of $500.
This checking account can earn competitive interest rates.
There’s a $10 monthly fee, but you can waive it by maintaining a daily balance of $1,000.
This basic checking account requires $25 to open, and $0.01 to waive the monthly $3 fee.
This account doesn’t earn interest however.
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Savings Account Options
Amerasia Bank has a small variety of savings accounts that are pretty standard.
You will need $200 to open this account and you can earn competitive interest rates.
There is a small quarterly fee of $5, but you can waive it if you keep a daily balance of $200.
Open this account with $200 and you can avoid the $5 monthly fee if you keep a daily balance of $200.
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Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard.
Amerasia Bank has a checking account that is practically a money market because it combines both checking and savings qualities.
Presdidential Money Market:
- Open this account with $1,000
- Interest is credited monthly
- eStatements
- Up to 6 checks/debit items per month
- Online mobile and phone banking
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CD Account Options
Amerasia Bank offers CDs with competitive rates. You can open each CD with $2,500.
To learn more about their CDs, you would have to call Amerasia Bank instead.
The CDs will automatically renew upon maturity.
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Reasons to Bank with Amerasia Bank
- They offer a good variety of checking accounts.
- Lower than average monthly fees.
- Some of their accounts have 8 free check withdrawals than just the standard 6.
- If you prefer to bank in person, then visiting a physical branch would be the best.
- Good ratio of checking to savings accounts.
- Conduct all your banking online or through the Amerasia Bank mobile app.
Reasons Not to Bank with Amerasia Bank
- The information presented on their website is very vague.
- If you prefer to bank online, their website isn’t too user-friendly and doesn’t have much information.
- They don’t have 24-hour customer service.
- Lacks a student nor senior citizen checking or savings account.
- Doesn’t offer any relationship accounts.
- They could have higher interest rates on certain accounts.
Amerasia Bank Routing Number
The routing number for Amerasia Bank is 026011484.
Contact Customer Service
You can reach Amerasia Bank’s main office at (718)-463-3600, but they also have different numbers for different offices.
Their business hours are:
- Monday – Thursday 9:00 a.m. to 4:00 p.m.
- Friday 9:00 am to 7:00 p.m.
- Saturday 9:00 a.m. to 4:00 p.m.
You can also look at Amerasia Bank’s website for more information.
How Amerasia Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- deposits accounts, including accounts for teens and customers who need a second chance.
- Wells Fargo: Located throughout the US with over 5,800 branches and 13,000 ATMs. They offer a variety of deposits accounts, including accounts for teens and customers who need a second chance.
- PNC: Also having a New York location, PNC Bank offers free access to f PNC Bank ATMs, free mobile/online banking, reimbursement of PNC fees for use of non-PNC ATMs, and many other features that can be found on their website. They have several account options.
- Cathay Bank: Another Asian-American owned bank that offers a lot more account options and similar minimum requirements. They even offer a student checking and savings relationship account.
Bottom Line
Amerasia Bank is best recommended to those who want to invest in a local bank and happen to live in New York.
Even though their website has a wide variety of accounts, it is recommended that you go to speak with a customer service representative in person instead.
The monthly fees are low and the minimum balance requirements aren’t too difficult to maintain either, so if you are interested in a simple bank, then this one may fit your standards.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If you’re interested in banking with Amerasia Bank, then apply today! For more options from a variety of banks, see our list of the best bank promotions!
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