Amerant Bank is the official bank of the Tampa Bay Rays, Miami Heat, Miami Marlins, Florida Panthers, and other sports teams within the South Florida community. It also has the naming rights for Amerant Bank Arena, which is the home of the Florida Panthers. The financial institution offers a wide range of accounts, loans, and other products for consumers and businesses. The bank has physical branches and ATMs where you can make fee-free transactions.
About Amerant Bank
Amerant Bank was founded in 1979 and was acquired by Mercantile Services Financieros (MSF) in 1987. The firm has strong roots in Florida, is based in Coral Gables, Florida, and has several physical locations and ATMs. It’s also the largest community bank headquartered in Florida. The company has an online banking app that allows customers to view and access their bank account information at any time. Jerry Plush is the current CEO of Amerant Bank.
What Financial Services Does Amerant Bank Offer?
Amerant Bank offers several financial services that align with personal and commercial banking. These are some of the highlights.
Personal Banking Solutions
Amerant Bank offers several personal banking products that can help you reach your financial goals sooner.
Checking and Savings Accounts
Amerant Bank has traditional checking accounts and student checking accounts. You only need $50 to open up a Value Checking account, which includes a no-fee overdraft of up to $100 with Amerant CoverMe. The FDIC-insured account comes with a Mastercard Debit Card. The Interest Checking Account offers a higher APY but requires a $100 minimum opening balance.
The Amerant Savings account has a $50 minimum opening balance requirement and also accrues interest. CoverMe is also included, and you can link other accounts with Overdraft Protection. You can also open a money market account or a CD to generate additional interest.
Money market accounts require a $100 minimum deposit, while you need to have a balance of at least $10,000 to open a CD. Certificate of deposit terms range from 3-60 months. CD rates are competitive, with annual percentage yields (APYs) as high as 5%.
Credit Cards
Consumers can choose between secured and unsecured credit cards. The cards do not come with any annual fees. Unsecured cards come with 0% introductory APR on purchases for the first six billing cycles. Balance transfer fees are 5% or $10, depending on which is higher. The Platinum Edition Visa Card has a lower APR range, while the Maximum Rewards Visa Signature Card offers unlimited 1.5% cashback on all purchases.
The Secured Visa Card is a good option for building credit. You can make a security deposit between $300 and $5,000 to establish your credit limit. You won’t have to pay any annual fees for this card, and you can eventually trade it in for an unsecured card once you build credit.
Personal Loans and Lines of Credit
Amerant Bank gives consumers many ways to borrow money, such as personal loans, home equity loans, and lines of credit. You can also take out a secured loan to build your credit score.
Mortgages
Consumers can take out mortgages at Amerant Bank to buy or refinance their homes. The company has a guide for first-time homebuyers and offers several types of loans, such as fixed-rate, variable-rate, jumbo, and conforming mortgages.
Business Banking Solutions
Amerant Bank isn’t only a valuable resource for consumers. Small businesses can also set up business bank accounts and get access to capital.
Business Checking and Savings Accounts
A business bank account helps your company establish and build business credit. Business Savings accounts and money market accounts are available and only require $100 to open. These accounts have competitive tiered interest rates that reward business owners who keep more money in their accounts. The financial institution offers several types of checking accounts that each require an opening deposit of $100.
Business Loans and Financing
Companies can choose from many types of loans and financing for their equipment, commercial real estate, materials, and other business expenses. Amerant Bank offers SBA loans, working capital lines of credit, term loans, and other choices.
Treasury Management Services
Amerant Bank’s treasury management services help companies better manage their business finances. You can offset account service fees by maintaining their account balances.
Wealth Management and Investment Services
Individuals who are looking to grow their wealth with investments may want to take a closer look at the financial institution’s offerings.
Investment Accounts
You can set up a portfolio or choose one of the bank’s managed portfolio offerings. Amerant helps its clients identify and meet their goals.
Financial Planning and Advisory
You don’t have to navigate significant financial decisions on your own. Amerant has a team of professionals who can offer guidance and advise you on critical decisions.
Trust Services
Amerant Bank can assist with your generational wealth to ensure trusts get enacted appropriately. The bank offers services for asset distribution and asset management.
Amerant Bank Digital Services
The bank doesn’t only have physical branches. It also offers digital services. These are some of the options.
Online Banking
Consumers can download the Amerant app or visit the bank’s website to readily access their bank accounts online. Transferring money between accounts, paying bills, and performing other actions through online banking is also possible.
Mobile Banking
You can access your bank account from any mobile device and download the app for additional convenience. Mobile banking lets you access up to 24 months of account statements.
ClickSWITCH®
You can quickly transfer direct deposits and automated payments to your new Amerant account. It makes it easier to switch banks and ensure a seamless experience. The entire process takes as little as 10 minutes.
Zelle® with Amerant
You can send and receive money with Zelle. Many financial institutions have made themselves compatible with the tool.
Other Details About Amerant Bank
These are some other details to consider before deciding if an Amerant bank account is right for you.
Online and Mobile Banking Features
The company’s online and mobile banking features are standard. You can access your bank account from any device and make payments while you are on the go. It’s also possible to add travel notices and lock your debit card if it is lost or stolen.
Security Measures
Amerant Bank invests in up-to-date security technology to protect your data. The company also gives consumers several controls. For instance, you can freeze your debit card if necessary and set transfer limits.
Customer Service and Support
You can speak with customer support via email, live chat, or phone. The company has multiple phone numbers for consumers who live outside of the United States. There’s also a Frequently Asked Questions page that offers educational resources.
Branch and ATM Locations
Amerant has 26 branch offices and a network of more than 55,000 fee-free ATMs. Many ATMs are conveniently located in popular retail stores like Walmart and Target.
What Client Testimonials and Reviews Are Saying
Amerant has a 4.7-star rating in the App Store and a 3.4-star rating in Google Play. Some reviewers mentioned that the bank’s app was “simple and easy.”
How Does Amerant Bank Compare?
Amerant Bank offers financial products and services similar to those of other financial institutions. The company has a vast ATM network where you can deposit and withdraw money without incurring fees.
Is Amerant Bank Right for You?
Amerant Bank lets you keep your personal and business banking in one location. Furthermore, you can create investment accounts, access competitive APYs, and manage your money from one place. Amerant is a competitive financial institution with a lot to offer. It’s among the best banks in Florida.
How to Open an Account with Amerant Bank
You can visit the Amerant website and decide which checking or savings account you want to open. The bank will walk you through the process and require you to verify your identity and provide personal information. You will also have to provide the minimum opening deposit to get started.
