Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
Note: In September 2023, the Board of Governors of the Federal Reserve System approved an application for Emigrant Bancorp, Inc. to acquire Plus International Bank.
The bottom line: You may like Plus International Bank if you want to use a Hispanic American bank in Miami. But it isn’t the best choice if you want a mobile app or free ATM network. You can find the best mobile banking apps at select popular online and brick-and-mortar banks, though.
Plus International Bank Review: Overall Rating
FeatureInsider rating (out of 5)Checking2.75Savings3CD3.5Money market account3Trustworthiness4Total3.25
Plus International Bank Pros and Cons
ProsCons
Hispanic American-owned bank
Variety of CD terms
Only 1 branch in Miami, FloridaNo free ATM networkMonthly/quarterly service fees (unless you qualify to waive them)High minimum opening depositsNo mobile app
About Plus International Bank
Plus International Bank is a Hispanic American-owned bank with one branch in Miami. It doesn’t have an ATM network; it won’t charge you for using an ATM, but the ATM provider might.
In September 2023, the Board of Governors of the Federal Reserve System approved an application for Emigrant Bancorp, Inc. to acquire Plus International Bank. Emigrant Bank is not on the FDIC’s most recent minority depository institution list.
To contact customer support, call or visit a branch Monday through Friday, 9:00 a.m. to 4:00 p.m. The bank doesn’t have a mobile app.
Your deposits are FDIC-insured for up to $250,000, or up to $500,000 for joint accounts.
The Role of Hispanic American-led Banks
Many Hispanic American banks and credit unions provide services in both English and Spanish. There is a history of racial prejudice in banking and lending, specifically among Hispanic Americans, so working with a Hispanic American institution can help eliminate unfair bias.
Some of these institutions make it possible to open accounts if you are an immigrant or non-US citizen. Plus International Bank does require a Social Security number to open an account, but you can see a full list of banks that accept applications from immigrants and noncitizens without SSNs.
Is Plus International Bank Trustworthy?
Plus International Bank does not have any public controversies.
Usually, we include Better Business Bureau grades to assess bank’s trustworthiness. The BBB has not evaluated Plus International Bank yet, though.
You may want to ask friends and family about their experiences with the bank, or read online customer reviews.
Plus International Bank Account Reviews
Plus International Bank Checking Account
You may like the Plus International Bank Checking Account if you can maintain a $1,000 balance, because then you’ll waive the Plus International Bank Checking Account – Fees Display. It doesn’t offer overdraft protection, though, so you’ll pay $35 if you overdraw.
Plus International Savings Account
The Plus International Bank Savings Account could be a good fit if you keep $500 in your account to waive the quarterly fee. You’ll earn a significantly higher interest rate with one of the best high-yield savings accounts online, though.
Plus International Bank CD
You’ll need Plus International Bank Certificate of Deposit to Plus International Bank Certificate of Deposit with Plus International Bank. Other banks may have more lenient opening requirements.
Plus International Bank Money Market Account
The Plus International Bank Money Market Account includes both a debit card and paper checks. This makes it a decent place to store your emergency fund, because you can access your money quickly if need be.
How Plus International Bank Compares
Plus International Bank vs. Interamerican Bank
You may prefer Interamerican Bank over Plus International Bank if you value a larger branch network because it has more locations in the state of Florida. Interamerican Bank also has free ATM networks, unlike Plus International.
Plus International Bank might be worth considering if you’re searching for a variety of CD terms. It has more options than Inter-American Bank, including terms from 30 days to 5 years.
Plus International Bank vs. Ocean Bank
Ocean Bank has more branches in Florida than Plus International Bank, so it may be a more convenient option for you. It also has bank accounts with lower minimum opening deposits, so it also might be more appealing if you don’t have a lot of money to deposit upfront.
If you’re specifically looking to open a CD, it could be a toss-up between the two banks. Both banks offers a variety of CD terms. Ocean Bank has some promotional CDs with high interest rates, but Plus International Bank still might be worth considering if you want low early withdrawal penalties.
Why You Should Trust Us: How We Reviewed Plus International Bank
At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using our banking methodology and CD methodology.
Each account receives a rating between 0 and 5. We evaluate a bank’s ethics, customer service, and mobile app for all accounts. We also consider different features for specific types of bank accounts. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.