BankUnited review
You can have easy and convenient access to your funds by becoming an account holder and choosing from a variety of checking options.
Discover the Advantages of Having a BankUnited Account!
BankUnited, Inc., with the trading symbol BKU on the NYSE, boasts a total of $37.0 billion in assets as of December 31, 2022.
As the parent company of BankUnited, N.A., a national bank located in Miami Lakes, Florida, BankUnited offers a wide range of banking services to individuals and businesses alike.
Their services are conveniently accessible through various banking centers located in Florida, the New York metropolitan area, and Dallas, Texas. And, to cater to the Southeast region, BankUnited also offers wholesale banking products through its Atlanta office.
Having its headquarters in Florida, BankUnited operates as a regional bank. It provides an extensive suite of consumer and commercial banking products and services to a diverse customer base consisting of individuals, small businesses, middle-market companies, large corporations, and institutions.
Besides the traditional banking centers in Florida, New York, and Dallas, Texas, BankUnited prides itself on offering 24-hour digital access for customer convenience. BankUnited N.A. currently holds total assets worth $35.9 billion as of June 30, 2023.
As a responsible corporate entity, BankUnited is actively involved in giving back to the communities where it operates. By collaborating with various partners, the bank identifies community needs and implements impactful solutions.
BankUnited offers a range of personal banking services that include checking and savings accounts, money market accounts, and credit cards. Let’s take a closer look at their checking account options:
Value Checking Account Details
- Minimum opening deposit of $50
- Enjoy free ATM transactions at all BankUnited and Allpoint ATM locations
- Monthly fee of $7
To avoid the monthly maintenance fee, you can:
- Maintain an average monthly balance of $500 or more in the account; or
- Have one or more ACH deposits totaling $500 or more credited to your account each statement cycle; or
- Make ten (10) or more transactions using your BankUnited debit card each statement cycle.
Relationship Checking Account Details
- Minimum opening deposit of $100
- Enjoy free ATM transactions at all BankUnited and Allpoint ATM locations
- Complimentary standard size safe deposit box (subject to availability)
- Free first order of standard checks (shipping rates apply)
- Monthly fee of $20
To avoid the monthly maintenance fee, you can:
- Maintain a minimum daily balance of $5,000 or more in the account; or
- Maintain a minimum daily balance of $15,000 or more in all eligible linked BankUnited consumer deposit accounts, such as savings, money market, or certificate of deposit accounts.
Vertical Rewards Premier Checking Account Details
- Minimum opening deposit of $10,000
- Enjoy free ATM transactions at all BankUnited and Allpoint ATM locations
- Complimentary standard size safe deposit box (subject to availability)
- Free first order of standard checks (shipping rates apply)
- Monthly fee of $20
To avoid the monthly maintenance fee, you need to maintain an average daily balance of $10,000 in your Vertical Rewards Elite Checking Account during each statement cycle.
How Vertical Rewards Premier Checking Works:
During the first three statement cycles following account opening (“Introductory Period”), you can earn interest rate rewards of 0.25% APY when you have a direct deposit post to your account each statement cycle.
After the Introductory Period, your interest rate rewards will be determined as follows for each statement cycle with a direct deposit:
- Earn 4.00% combined APY rewards when you make 7 or more qualifying transactions plus a direct deposit via ACH.
- Earn 2.00% combined APY rewards when you make 4 to 6 qualifying transactions plus a direct deposit via ACH.
- Earn 1.00% combined APY rewards when you make 1 to 3 qualifying transactions plus a direct deposit via ACH.
- Account will earn 0.25% in interest regardless of the number of qualifying transactions on balances up to and including $250,000.
Qualifying transactions include additional direct deposits via ACH, automatic debits via ACH, point of sale transactions using a BankUnited VISA® debit card, and checks posting to and clearing from your account.
Health Savings Account (HSA)
A BankUnited Health Savings Account can help you cover certain out-of-pocket medical expenses that are not typically covered by high-deductible health plans. You are eligible for a tax deduction for contributions made by yourself or someone other than your employer.
Distributions from your HSA may be tax-free when used to pay for qualified medical expenses like doctor’s visits, medications, medical equipment, vision and dental care.
Learn How to Apply for a BankUnited Account Today!
Now that you are aware of the various benefits and options offered by BankUnited, it’s time to take the next step and apply for your BankUnited checking account. Visit the BankUnited website for more details and start the application process.
