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Ponce Bank Review

9X higher APY than the national average

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Reviews 1
Chris Muller
Nov. 15, 2022
2 min read
Ponce Summary
Ponce Bank, operating since 1960, is a traditional banking institution with brick and mortar locations in New York and New Jersey. It also offers online and mobile services. Ponce Bank offers a full array of banking services, such as checking, savings, and money market accounts, as well as IRAs, CDs, and mortgages.


  • Most accounts don’t have monthly service fees
  • Traditional face-to-face service in physical branches
  • Flexible account and loan options


  • Limited online and mobile customer support
  • No refunds for out-of-network ATM fees

Ponce at a glance

Editorial score


No fees at all


FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication

Customer service

Customer service during extended business hours

Online experience

Basic site with some banking features

Mobile experience

User friendly mobile app that offers most mobile banking features, may not be available on all devices

Ponce Ponce Visit Ponce

Advantages Over Traditional Banks 

Opening an online account through Ponce Bank will grant you 24/7 telephone access to your accounts. Additionally, you’ll enjoy easy money transfers between your different Ponce accounts. Ponce’s convenient mobile app lets you access and manage your accounts, check balances, deposit checks, pay bills, and more. Additionally, just like any other traditional bank, Ponce offers various account and loan types. 

Account types

  • Premium interest checking account
  • 50+ interest checking account
  • Direct Interest account 
  • Simply Free checking account options 
  • Holiday and Vacation Club accounts for saving for special vacations and holidays 
  • IRA account options include Traditional, Roth IRAs, and the Coverdell Education Savings Account. IRAs and CDs have terms ranging from 1 to 60 months.
  • UTMA (Uniform Transfer to Minors Act) account enables a parent or guardian to open a savings account or a CD in a minor’s name, with no monthly fees.
  • Money market accounts offer competitive interest rates.

Loan types

  • Adjustable-rate mortgage loans
  • Mortgage refinancing options
  • Home equity lines of credit 

Interest Rates and Fees

Ponce Bank offers various account options with different fees and interest rates.

Account TypeAPYMin. Balance for APY
Checking0.15% $1,000
IRA0.20% - 0.85%$500 or $1,000
CD1.01% - $1,000
Money Market5.05%

Customer Service 

Ponce Bank offers phone customer service from Monday to Friday during business hours and on Saturday between 9 a.m. and 1 p.m. The bank also has web and mobile apps, but no live chat or online banking portal.

Ponce customers can monitor their accounts through a free real-time alert service via email, text, or app notifications that include security, balance, and transaction alerts.

Overall, Ponce’s mobile and online services receive positive user feedback. Their mobile app has an average rating of 4.6-4.8/5.

Mobile App Features 

Ponce Bank’s mobile app comes with many handy functions. It enables users to:

  • Check account balance and monthly statements
  • View recent transactions
  • Receive and send funds
  • Pay bills
  • Edit scheduled payments
  • Deposit checks on the go
  • Locate nearby branches and Ponce ATMs
  • Contact support staff


Ponce Bank protects the personal information of its clients from unauthorized access by using stringent security measures compliant with federal law. This includes physical, procedural, and electronic safeguards. Access to sensitive data is limited to appropriated employees.

All online transactions and private information records are protected by advanced encryption software. Ponce Bank warns its clients against identity theft and recommends carefully reviewing all account information and billing statements.


Ponce Bank  is a reputable medium-sized brick-and-mortar bank with 14 branches in New York and New Jersey. It offers various account and loan options along with a versatile mobile app that enables users to perform multiple account functions. Customer service includes in-person and phone support.

One of Ponce’s main advantages is its low fees and zero monthly charge for standard checking accounts. This is great if you are looking for a low-cost account for everyday use.

Ponce Ponce Visit Ponce

Written by
Chris Muller
Chris has an MBA with a focus on advanced investments and has been writing about all things personal finance since 2015. He’s also built and ran a digital marketing agency, focusing on content marketing, copywriting, and SEO, since 2016. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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Trustpilot reviews
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Average • Reviews 1
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John Wallace
8 months ago
Invested in a 13 month Cd
Invested in a 13 month Cd. Did not get a notice that the CD had matured. When I realised that the CD had matured and I did not get a notice I called ponce bank, instead they pawned me off to some bank named SAVE BETTER BANK which I had no knowledge of. Called Save Better Bank and they hadalready rolled the money over to a new CD and informed me I have to wait another year to access my money. I told them I did not want to wait another year for my money, instead to cancel the account and refund my money.Had to pay a penalty of over $400. Most banks will notify you when your Cd is nearing maturity. In this case I did not get a notice.Will not invest with this bank again.