NewDominion Bank Rates & Review

NewDominion Bank review

NewDominion Bank is a North Carolina bank specializing in niche cash management services for individuals and businesses.

This bank's corporate office in Charlotte, North Carolina, was established in 2005. It has full and limited service branch offices in several North Carolina cities. Customers are welcome in person at these branches but are encouraged to bank online.

Cash management

This bank specializes in the niche service of cash management for individuals and businesses. It offers loans as well as advisory and consulting services. Related services include zero balance accounting, itemized reporting, and ACH services such as "click and pay" for vendor and tax payments.

Business banking choices

Business products include four checking account types and a money market account for savings. Services include remote deposit capture, loans and lines of credit, online banking and wire transfers.

Personal banking options

Individual customers can choose from several different products and services. Products include a standard savings account, a high yield savings account in the form of a money market account, an interest-bearing checking account, IRAs and CD choices with varying terms. Services include personal loans, home equity lines of credit, and online banking with bill pay.

About NewDominion Bank

NewDominion Bank is accredited with the Better Business Bureau. As of Sept. 2010, it has an A rating with zero customer complaints. The bank's CEO, Bradley Thompson, has been identified as one of the Charlotte Business Journal's "40 under 40" and has been given the Award for Distinguished Service by Appalachian State University.

Deposit insurance

NewDominion Bank is a member bank of the Federal Deposit Insurance Corporation. FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor in July 2010. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

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