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Comprehensive Banking Solutions: Exploring People’s United Bank’s Products and Services

People’s United Bank: A Community Bank with Comprehensive Financial Services

As the financial world continues to evolve, many people are looking for a financial institution that can provide personalized services and flexible banking options. In this regard, People’s United Bank offers a comprehensive suite of banking products and services to meet the needs of its customers.

In this article, we will provide an overview of People’s United Bank, its product offerings, and specific attention to its checking accounts. Overview of People’s United Bank

People’s United Bank is a community bank that has been serving customers since 1842.

Headquartered in Bridgeport, Connecticut, People’s United Bank operates over 400 branches in Connecticut, New York, Massachusetts, Vermont, New Hampshire, and Maine. It is a subsidiary of People’s United Financial Inc.

and has approximately $63 billion in assets. People’s United Bank offers a variety of banking products and services that include lending, borrowing, deposit, brokerage, insurance, and investment management.

The bank’s primary business segments include Commercial Banking, Retail Banking, and Wealth Management. As a community bank, People’s United Bank is committed to supporting the communities it serves through volunteer work and philanthropic contributions.

Product Offerings and Services

People’s United Bank has a wide range of banking products and services designed to meet the financial needs of individuals, businesses, and nonprofit organizations. These offerings include personal banking, business banking, investments, and insurance.

Personal banking products and services include checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), credit cards, personal loans, and mortgages. On the other hand, business banking products and services include checking and savings accounts, lines of credit, term loans, commercial real estate loans, equipment financing, and cash management solutions.

Investment services include financial and retirement planning, investment management, and brokerage services. Additionally, the bank offers insurance products such as group benefits, life, auto, homeowners, and business insurance plans.

People’s United Bank Checking Accounts

Checking accounts are an essential part of one’s financial life as this account is often used to pay bills, make purchases, and deposit paychecks. People’s United Bank offers several types of checking accounts that are tailored to meet the specific needs of each customer.

Types of Checking Accounts

One of People’s United Bank’s popular checking account options is the Premier Advantage Checking account. It is a premium checking account designed for customers who maintain a higher average daily balance and want to earn interest on their funds.

Other types of checking accounts include Value Checking, ePlus Checking, and Student Checking. Value Checking is an account designed for customers who want a basic checking account with no monthly maintenance fees.

ePlus Checking is a high-yield checking account that provides customers with unlimited ATM fee rebates and additional benefits like free checks, foreign ATM fees refund, and mobile banking alerts. Lastly, Student Checking is tailored for students age 23 or younger and offers the convenience of no minimum balance requirements and no monthly maintenance fees.

Features and Benefits

People’s United Bank’s Premier Advantage Checking account has features that make it a compelling option for customers. The account includes digital identity protection, helping to protect customers from identity theft and fraud.

It also offers mobile check deposit, which enables you to deposit checks from your smartphone or mobile device anytime, anywhere. Furthermore, Premier Advantage Checking account holders gain access to cash-back rewards earning up to $10 per statement cycle by making qualifying debit card purchases.

The bank also offers free online and mobile banking, automatic bill payment, and eStatements, which reduces clutter and enhances security.

Conclusion

People’s United Bank is a community bank that offers a wide range of banking products and services designed to meet the needs of its customers. Its checking account options provide flexibility and ease of use, with different types of accounts dedicated to customers of varying ages and fund balances.

The bank’s Premier Advantage Checking account stands out with its numerous features and benefits, including digital identity protection, mobile check deposit, and cash-back rewards. With its commitment to the communities it serves, its comprehensive services, and friendly banking policies, People’s United Bank is a smart choice for those seeking futuristic banking options.

People’s United Bank boasts an array of banking products that can provide customers with high-yield returns, low fees, and easy access to their funds. Savings and money market accounts are two of such products.

In this section, we will delve into the types of savings accounts available at People’s United Bank and why they stand out in terms of features and benefits. We will also explore the money market accounts and review the pros and cons and costs of each of the offered products.

Types of Savings Accounts

People’s United Bank has three types of savings accounts that customers can choose from. These accounts come with varying rates, minimum balances, and fees.

Plus Savings

The

Plus Savings account has a low minimum opening deposit requirement and allows the account owner to deposit funds and earn interest. The account earns a competitive, tiered interest rate that grows with the account balance.

This account enables customers to plan for their future expenses and save money for a specific goal, whether it be a down payment on a house or saving for higher education.

Advantage Savings

The

Advantage Savings account is designed for those who want to earn better rates on their savings. Similar to the

Plus Savings account, the

Advantage Savings account has a low minimum opening deposit requirement and earns tiered interest rates.

Customers who maintain a higher balance in their account can earn a higher annual percentage yield (APY). Premier

Advantage Savings

People’s United Bank’s Premier

Advantage Savings account offers account holders a premium tier for the high-average balance with elevated rates earning a fantastic APY rate.

This account has more substantial minimum balance requirements, but with that comes a higher interest rate. The money can then be easily accessed through online banking, mobile banking, or at any People’s United Bank branch.

Features and Benefits

People’s United Bank Savings accounts have several unique features and benefits that make them attractive options for customers. Firstly, all savings accounts are FDIC-insured up to the government’s maximum amount.

Customers can rest assured that their money is safe, regardless of market fluctuations. Secondly, all the savings accounts can be linked with a People’s United Bank checking account to fund your electronic withdrawals and deposits through their online banking platform and mobile application.

With eStatements, customers can access their savings account statements online, thereby reducing paper usage and promoting convenience. Lastly, the savings accounts allow for quick transfers between accounts, enabling customers to access their funds quickly with convenience and ease.

Money Market Accounts

Money market accounts (MMAs) offers advantages such as high yields, protection against inflation, and the ability to write checks. They are an excellent option for customers seeking short-term investment savings opportunities.

People’s United Bank offers three types of MMAs that customers can choose from: the

Plus MMA, the

Advantage MMA, and the Premier

Advantage MMA. Each account comes with different benefits, minimum balance requirements, and rates.

Plus MMA

The Plus Money Market Account earns competitive interest rates on accounts with balances higher than $2,500. Interest is paid monthly and varies based on the Tier level.

The first tier level starts at $2.5K balance; the second tier starts at $10K balances, and the third tier starts at $50k balances.

Advantage MMA

The Advantage Money Market Account enables customers to earn a higher APY by maintaining a minimum daily balance of $10,000 or more. The account has the potential to earn a higher rate, promoting customers to save as much as possible.

The first tier level starts at $10K, and the second level tier obtains at $50K in balance. Premier

Advantage MMA

People’s United Bank’s Premier Advantage Money Market Account requires a substantial minimum balance to access high yields and benefits.

With an excellent APY rate and access to premium services, it is an excellent account for customers who would like to invest a considerable amount and earn it back with attractive amounts.

Features and Benefits

Money market accounts currently offer more significant returns than other savings accounts. They offer a check-writing feature and are FDIC-insured up to the government maximum amount.

People’s United Bank

Money Market Accounts also come with no monthly service fees, making it more attractive to consumers. Money market accounts have minimum balance requirements, and some users could be subject to a high minimum deposit requirement.

They may also come with limits to the number of transactions permitted, typical for money market accounts, which may not be suitable for everyone. People’s United Bank provides customers with a way to earn a good return while still maintaining liquidity with the savings accounts they offer, and money market accounts offer a low risk, low-time spectrum.

It’s beneficial to explore accounts and interest fees for each account to see which banking product will prove most beneficial to personal monetary goals. People’s United Bank offers various financial products designed for customers seeking flexibility and convenience, including CDs with competitive interest rates.

Additionally, they provide an accessible and user-friendly mobile and digital banking experience, fine-tuned customer service, and an extensive branch network.

CD Accounts

People’s United Bank CD accounts offer higher APY rates to customers who want to lock in a higher amount for a specific term. CDs can be offered in different durations, ranging from three months to five years.

The longer the term, the higher the interest rate usually is. Furthermore, at People’s United Bank, the Plus CD accounts offer relatively higher interest rates than the standard CDs.

Plus CDs

People’s United Bank’s Plus CD accounts pay higher interest rates and have a minimum deposit requirement. The interest rate is locked for the duration of the CD term, and there are typically penalties for early withdrawals.

A CD may be useful for an individual who knows that they will not need the invested funds for an extended period.

Features and Benefits

People’s United Bank’s CD accounts possess the benefits of low risk and reliable returns. The interest rate might depend on different factors, such as the market rate, the term, and the deposit amount; however, the bank payouts debts without fluctuations.

Depending on the term and minimum deposit, customers can earn attractive returns. CDs offer a way to put money away and earn a return on your balance over a specific amount of time.

Banking Experience

Customer Service

People’s United Bank offers dedicated phone support and online chat support to customers to ensure a smooth banking experience. A competent and understanding support team can create a sense of loyalty and trust with the bank respective of customers.

They can troubleshoot any issues or questions about the company’s products and services in a friendly, efficient, and prompt manner.

Accessibility and Branch Availability

People’s United Bank operates over 400 branches located in six states, ensuring customers have quick access to their money and account representatives. This extensive branch location network enables account holders’ to engage in a personal relationship with their community bank.

ATMs

People’s United Bank customers are given access to more than 600

ATMs throughout the bank’s operating six states. Access to

ATMs ensures users have easy access to their funds.

Mobile and Digital Experience

People’s United Bank offers its customers an easy-to-use online banking platform and a mobile app that provides various features and services. Account holders can check account balances, transfer funds, pay bills, remotely deposit a check, review transaction history and manage account details, all through the online portal or mobile app.

The mobile banking solution can help clients monitor their account activities on-the-go without in-person visits. Mobile banking enables customers to execute transactions and access withdrawing capabilities connected to the account.

The mobile app and online portal offer a simple interface and easy navigation, providing customers with a hassle-free experience. The company provides unique features such as contactless payment methods, allowing customers to complete transactions without direct contact.

Additionally, customers can set up alerts to notify them of their account activity with customized triggers.

Conclusion

People’s United Bank focuses on building a long-term relationship with its customers and has demonstrated it with its numerous products and services. The bank’s CD, savings, and money market accounts provide high APY rates, demonstrating accounts that can support any monetary goals and plans.

Customers are introduced to a team of professional and respectful supports that guarantee their banking experience is flawless. The bank’s mobile and digital solutions, combined with the extensive branch network, ensures customers have a reliable way to engage with the services when required.

It is notable that People’s United Bank has facilitated a user-friendly and secure mobile banking experience, ensuring customers’ satisfaction with their banking preferences. Thus, the comprehensive banking solutions offer customers the confidence to navigate their financial goals effectively, improving trust and loyalty in the banking institution.

Convenience

People’s United Bank is committed to providing customers with convenient and accessible banking solutions through a broad range of products and services. The bank has an extensive branch network located in the Northeastern region, and its online and mobile banking solutions provide customers with flexible account access.

Geographical Accessibility

People’s United Bank has over 400 branches spread across the Northeast region, along with over 600

ATMs, providing clients with easy access to their accounts. These geographical convenience features remove long travel time limitations for account holders and provide physical assistance and support when needed.

Online and Mobile Banking

In addition to physical branches, People’s United Bank provides an online banking portal and mobile banking app that allows customers to access their accounts from any location. This convenience allows customers to complete everyday banking tasks efficiently and effectively, such as checking account balances, paying bills, and transferring funds between accounts.

With mobile banking, customers can manage their banking responsibilities at their fingertips, reducing the need for in-person transactions, providing clients with a time-efficient and hands-free way of performing transactions.

How to Open an Account

Methods to Open an Account

People’s United Bank account holders can open accounts through various methods, including in-person at a branch, online, or through the mobile app. In-person opening of an account enables the client to establish a reliable and personalized relationship with their community bank.

Online or mobile app creation of an account is relatively simple, time-efficient, and provides the user privacy and security basic to banking.

Requirements to Open an Account

To open a personal account at People’s United Bank, the bank requires a customer to provide essential information such as full name, date of birth, physical address, email address, and phone number. Moreover, government-issued identification, such as a driver’s license, is required to establish identity and essential information regarding the account holder.

Lastly, it’s often necessary to provide initial funding to open the account, which can vary for each type of account opening.

Conclusion

People’s United Bank offers its customers convenient and flexible banking solutions through its extensive branch network, online and mobile banking options. Bank account holders have accessible and reliable resources in the form of branch location and ample support of the bank’s customer service team.

Customers that prefer online banking, People’s United Bank’s mobile banking solutions, online portal, and the contactless payment methods guarantee ease and minimized contact with transactions. In addition to convenience, the bank has tailored products that fit any financial goals and plans to assist customers in reaching their dreams and objectives.

Account holders can easily start their account with proper identification, essential information, and initial financing, ultimately easing up the account opening process. Overall, a well-structured, convenient, and practical banking experience should be expected when using People’s United Bank.

People’s United Bank is a full-service bank that offers customers a wide range of financial products and services. While it is essential to consider the rates and fees on banking products from different banks before making a decision.

This will help customers make informed decisions that align with their financial goals.

Fees

People’s United Bank charges different types of fees to its customers, including monthly maintenance fees, overdraft fees, wire transfer fees, and dormant account fees. Monthly Maintenance

Fees

Monthly maintenance fees vary with different account types and often require a minimum balance to avoid the fees.

Customers are encouraged to monitor their accounts and make necessary deposits

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