Sterling Bank and Trust Review

Sterling Bank and Trust charges monthly maintenance fees and requires minimum balances for accounts, creating potential constraints for customers with fluctuating balances. The bank also applies foreign transaction fees when using cards internationally, which impacts travelers and online shoppers using foreign currencies.

On the positive side, the bank eliminates out-of-network ATM fees, providing convenient access to funds regardless of location. Overdraft protection services help prevent costly insufficient funds penalties by safeguarding accounts against accidental overdrafts. Wire transfer services come with partial benefits—incoming wires are free while outgoing transfers incur standard fees.

Sterling Bank and Trust implements robust security measures to protect customer accounts. Two-factor authentication serves as a critical defense beyond passwords, while real-time fraud alerts notify customers instantly of suspicious activities. The bank also provides an instant card lock feature, allowing customers to freeze cards immediately through digital channels if compromised.

Travel notification capabilities prevent legitimate transactions from triggering security flags when customers use accounts away from home. Though the bank takes measures to protect customer identities, it lacks a dedicated identity theft protection service. These security features work together to create multiple layers of protection against unauthorized access and fraudulent activity.

Mobile banking capabilities span both iOS and Android platforms, with native apps for each operating system. While functional, these apps have received modest user ratings—2.4/5 for iOS and 3.0/5 for Android—suggesting potential areas for improvement in the user experience.

The mobile platform includes practical features that eliminate branch visits. Mobile check deposit functionality allows customers to deposit checks by simply capturing images with their device cameras. Users can also locate nearby ATMs and branches through the built-in locator tool.

Account management tools prioritize customer awareness through customizable alerts for account activity, balances, and transactions. Push notifications deliver real-time updates about security concerns and account changes directly to mobile devices, keeping customers informed regardless of location.

Seamless money management comes through automatic direct deposit capabilities, with funds available up to two days early through early direct deposit. This electronic transfer system eliminates paper checks while providing immediate access to your money for bills and unexpected expenses.

Wire transfer services handle both domestic and international transactions with same-day processing domestically and 1-3 day delivery internationally. These secure methods prove invaluable for time-sensitive transfers and global money movement.

The financial ecosystem expands through external account linking, which centralizes management of accounts across different institutions within one interface. Complementing this connectivity, free ACH transfers provide a cost-effective alternative to wires for regular money movements between banks, typically completing within 1-3 business days.

Robust spending analytics transform financial planning by automatically categorizing transactions and revealing spending patterns over time. These insights identify potential savings areas without manual tracking or calculation.

The bank strengthens saving habits through two automated systems. Round-up savings captures spare change by rounding transactions to the nearest dollar, while customizable savings rules execute transfers based on user-defined conditions like payday deposits or percentage-based allocations.

A comprehensive bill payment system centralizes monthly obligations in one location, reducing the risk of missed payments and late fees. While the money management suite lacks budgeting tools and sub-accounts for goal tracking, its automation features create a solid foundation for financial discipline.

Digital wallet functionality stands at the forefront of payment options with full support for both Apple Pay and Google Pay. These integrations enable secure contactless payments for in-store purchases while simplifying online transactions across respective devices. Apple Pay works with iPhone and Apple Watch, while Google Pay functions with Android devices and includes rewards tracking capabilities.

Several potentially valuable integrations remain unavailable through the bank's platform. Customers seeking person-to-person payment solutions cannot access Zelle for instant transfers between U.S. bank accounts. International money transfer service Wise is unsupported, limiting options for competitive exchange rates on cross-border transactions. Small business owners and self-employed individuals also lack QuickBooks integration, preventing automated transaction syncing with this popular accounting software.

Customer support at this financial institution centers primarily on email communication for account inquiries and service needs. The bank maintains email support for less urgent matters, providing customers with a documented record of all interactions—particularly valuable when sharing specific account information or addressing complex questions.

Unfortunately, several key support channels remain unavailable. The bank lacks 24/7 phone assistance for urgent matters like lost cards or suspicious transactions. Live chat support, which would allow immediate help through digital devices without phone queues, is also absent from their service lineup.

The institution falls short in specialized financial services as well. Customers cannot access bill negotiation services that would identify potential savings on regular expenses. Financial advisor access, which would provide professional guidance for retirement planning, home purchases, or investment management, is similarly unavailable.

Sterling Bank and Trust maintains physical branches in Michigan, California, and New York, providing essential face-to-face banking services including notarization, complex transactions, and personalized financial guidance. The bank offers partial support for cash deposits and large cash withdrawals, with varying ATM limits for the latter.

The bank fully supports notary services and safe deposit boxes, giving customers secure options for document authentication and valuable item storage. Sterling's ATM network extends internationally, allowing customers to access funds while traveling abroad without compromising convenience.

Sterling Bank does not provide currency exchange services, limiting options for customers needing to convert between different national currencies. For other transaction needs, the bank offers partial support for cashier's checks, providing customers with a secure, bank-guaranteed payment option for large transactions.

Currently, several advanced financial management tools remain outside Sterling Bank and Trust's service portfolio. The institution does not provide integrated investment accounts for securities trading, nor does it support cryptocurrency transactions through its banking platform.

Credit health management through monitoring services is not available to customers seeking to track their creditworthiness. The bank has not implemented cashback rewards on debit card transactions, missing an opportunity for customers to benefit from everyday spending. Additionally, those requiring multi-currency management will find no foreign currency account options, potentially limiting convenience for international travelers or businesses operating across borders.