Hello and welcome to another review on gold retired! This time around we’ll be investigating horizon bank. What is Horizon Bank? How does it work? What the IRAs offered and the IRA fees? Can you invest in precious metals through this bank? Plus more details as usual!
Company: Horizon Bank
Owner: Horizon Bancorp (IN)
Price: Depends on your investment
Who is it for: People intrested in traditional bank products and services
Overall rating: (1.5 / 5)
Important to mention before we go into more details of this review:
We always strongly recommend doing your research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. The most common way people are getting scammed is through so-called “hidden-fees” so please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on Horizon Bank!
What is Horizon Bank?
Horizon Bank is a community bank based in Michigan City Indiana. Founded in 1873, this company has 63 locations in Indiana and Michigan. The parent company of Horizon Bank is Horizon Bancorp (IN) and its CEO is Craig M. Dwight.
Horizon Bank is a community bank, the professionals who operate it are members of the local community. The advantages of this kind of banking are that it encourages local decision-making, which is definitely a plus!
As stated on their website, this bank is nationally recognized as one of the top 200 community banks by US Banker magazine for financial performance 2008-2014.
How does it work?
Horizon Bank works just like any traditional bank. You can easily open an account and use online banking, bill pay and e-statements. They also offer more services and IRAs that we’ll be looking at later in this review.
While doing the research I also found something that I liked about this bank. The Horizon Cares Charitable grant that any contributor to their local community can apply to.
Here is an excerpt from their website that explains it more:
As a corporate citizen, Horizon Bank has a responsibility to assist in the growth and prosperity of our communities — not only through economic development, but also as a leader in corporate citizenship, volunteerism and fulfilling unmet needs of the community.
Our Advisors’ contributions make our communities a better place to call home. The 700+ advisors at Horizon are dedicated to the communities that we serve by volunteering for multiple organization
Products and services offered
Horizon Bank offers :
- Online Trust Login
- Investment Management
- Trust Services
- Financial Planning
- Employee Benefit Plans
- Insurance Services
- It also offers IRAs.
So what are the IRAs offered?
For IRAs, Horizon Bank offers two options:
- Traditional IRAs: these are better for short-term tax advantages.
- Roth IRAs: these are better for long-term benefits.
Another thing I liked about Horizon Bank is the comparison chart they created to help their clients decide between a Roth and a Traditional IRA.
What are the IRA fees?
The Horizon Bank website doesn’t include a fee schedule or any information about their IRA fees. It would’ve been better to find these on the website just to make sure there are no “hidden fees”.
Can you invest in precious metals through Horizon Bank?
There is no information on the Horizon Bank website about whether you can invest in precious metal through it or not. It’s not clear what you’ll be investing in exactly through their IRA accounts. This lack of information kind of explains some of the bad reviews that you can see below.
What countries are allowed?
Since Horizon Bank is a community bank, only U.S. citizens are allowed to open an account.
Horizon Bank reviews, ratings, and complaints
BBB: NOT accredited by the BBB + 10 complaints closed in the last 3 years.
Rating: (1 / 5) (out of 3 customer reviews) click here for details (opens in new window)
Rating: (1 / 5) (out of 1 review) click here for details (opens in new window)
Do you Own or Represent Horizon Bank?
If you are a representative, or associate of Horizon Bank and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final words and verdict
Overall rating: (1.5 / 5)
Although Horizon Bank is an established community bank with a real physical address, I honestly don’t recommend working with them.
There are basically no reviews about them online and the only ones found are extremely negative.
They are not accredited by the BBB and have several customer complaints.
Investing in IRAs through this bank wouldn’t be the smartest of options, choosing a better company with more reviews and no complaints would be a much better choice I would say.
As always the decision is of course up to you.
My #1 recommendation
You made a wise decision to read this review and you are a smart person. I am absolutely sure that you will find the right company that suits your particular needs the best! Below is one I would recommend having a look at right away as you might want to consider that one as an option for your retirement investing as well (if you are interested in Precious metals and/or Cryptocurrency):
==> Click here for my #1 recommended Precious Metals Company (Got some unique benefits)
Hopefully, this review about Horizon Bank and what it is all about was beneficial to you. If you have any questions or any personal experience with them, feel free to share it in the comments! Also if you got any questions about this review I will be more than happy to answer them below.
Until the next one!
Founder of: Gold Retired