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Overall bank rating
| 3.25 |
| 3.5 |
| 3.5 |
| 3.25 |
| 4 |
| 3.5 |
Pros and cons
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Savings
0.03% to 0.05% APY $25 0.03% to 0.05% APY $25- Pros & Cons
- Details
- $25 minimum opening deposit
- Possible to waive the minimum balance fee
- Low interest rate
- $3 minimum balance fee
- $2 excessive withdrawal fee
- 760 branch locations in 17 states
- Earn 0.03% APY on account balances under $10,000
- Earn 0.05% APY on account balance over $10,000
- To waive the $3 monthly minimum balance fee, maintain at least $200 in your account daily
- $2 excessive withdrawal fee on transactions when you exceed 3 withdrawals per month
- Interest compounded and deposited monthly
- Member FDIC
- Pros & Cons
- Details
- $25 minimum opening deposit
- Possible to waive the monthly maintenance fee
- Overdraft protection
- $6.95 monthly maintenance fee
- $2.50 out-of-network ATM withdrawal fee
- $32 overdraft fee
- $5 overdraft transfer fee
- 760 branch locations in 17 states
- Access to more than 300 ATMs through the Woodforest, Triton, and NCR ATM networks
- To waive the $6.95 monthly maintenance fee, keep at least $100 in your account daily OR make at least one direct deposit per month
- Two overdraft protection options: You may like your checking account to a savings account OR get a line of credit
- There's a $5 transfer fee if you use overdraft protection and have your checking account linked to a savings account
- Member FDIC
- Pros & Cons
- Details
- $500 minimum opening deposit
- Higher interest rate than some brick-and-mortar banks
- Lower interest rate than online banks
- Contact your nearest bank for early withdrawal bank
- Standard term options
- 760 branch locations in 17 states
- Terms range from 1 month to 5 years
- Early withdrawal penalties depend on the term and the amount deposited
- Interest compounded and deposited monthly
- Member FDIC
- Pros & Cons
- Details
- $25 minimum opening deposit
- Possible to waive minimum balance fee
- Debit card included
- Check writing included
- Low interest rate
- $10 monthly minimum balance fee
- $10 excessive withdrawal fee
- 760 branch locations in 17 states
- Access to more than 300 ATMs through the Woodforest, Triton, and NCR ATM networks
- To waive the $10 monthly minimum balance fee, maintain at least $1,000 in your account daily
- $10 excessive withdrawal fee on transactions when you exceed 6 withdrawals per month
- Interest compounded and deposited monthly
- Member FDIC
- Alabama
- Florida
- Georgia
- Illinois
- Indiana
- Kentucky
- Louisiana
- Maryland
- Mississippi
- New York
- North Carolina
- Ohio
- Pennsylvania
- South Carolina
- Texas
- Virginia
- West Virginia
Pros
Cons
To waive the $3 minimum balance fee, you'll need to keep at least $200 in your Woodforest National Bank Savings Account daily.
If you make more than three withdrawals per month, you'll also have to pay a $2 excessive withdrawal fee for each transaction after. Many banks allow six monthly withdrawals.
Checking
None$25None$25Pros
Cons
The Woodforest Checking Account may be worthwhile if you keep at least $100 in your account daily or make at least one direct deposit each month. By meeting one of these requirements, you'll waive the monthly maintenance fee.
If you'd prefer to open a fee-free checking account, consider going over our best checking accounts guide.
CD
0.05% APY to 0.30% APY$5000.05% APY to 0.30% APY$500Pros
Cons
The Woodforest National Bank Certificate of Deposit has a low minimum opening deposit. While the interest rate is higher than what you'll earn with many other brick-and-mortar banks, you'll earn a more competitive rate at online banks .
If you're looking for more term options or higher rates, check out our best CD rates guide.
Money market account
0.05% APY$250.05% APY$25Pros
Cons
Woodforest's Woodforest National Bank Big Money Market Account could be a decent choice if you keep at least $1,000 in your account regularly — that way, you'll avoid the $10 monthly minimum balance fee.
You'll also want to keep track of how many transactions you make. Otherwise, you might have to pay a $10 excessive withdrawal fee if you make more than six monthly withdrawals.
How Woodforest National Bank works
Woodforest National Bank has over 760 branch locations in 17 states. You'll find a nearby branch if you live in:
You'll also have access to more than 300 ATMs through the Woodforest, Triton, and NCR ATM networks.
Customer service is available over the phone Monday through Saturday from 8:00 a.m. to 5:00 p.m. CT.
Woodforest National Bank's mobile app has 2.9 out of 5 stars in the Apple Store. In the Google Play Store, it received 3.5 out of 5 stars.
Woodforest Bank is FDIC insured. If you open an individual bank account, up to $250,000 will be protected.
Is Woodforest National Bank trustworthy?
Woodforest National Bank has an NR rating from the Better Business Bureau because the BBB does not have enough information to rate the bank yet. The BBB rates businesses according to how they typically interact with customers.
A good BBB score doesn't necessarily ensure your relationship with the business will be perfect. To see if Woodforest National Bank may be suitable, talk to current customers or read online customer reviews.
Woodforest National Bank hasn't been involved in any recent public scandals.
How Woodforest National Bank compares
We compared Woodforest National Bank to two other national banks: Citizens Bank and KeyBank.
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Locations CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA |
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Standout feature Checking account refunds some overdraft fees |
Standout feature Free checking account with no minimum opening deposits |
If you prefer a traditional banking experience, your choices between these three banks might depend on where you live. All three banks have locations in New York, Ohio, and Pennsylvania.
You'll also want to compare different accounts to see which ones stand out the most to you.
Citizens Bank and KeyBank offer the strongest checking account options. At KeyBank, you won't have to worry about monthly bank fees or making an initial deposit.
Meanwhile, at Citizens Bank, you could get refunds on overdraft fees through Citizens Peace of Mind, a feature that comes with all of the bank's checking and money market accounts . It refunds overdraft fees if you restore your account balance before 10:00 p.m. ET the next business day.
If you're looking to open a savings account, all three banks pay low interest rates. You may find better-fitting accounts through our high-yield savings account guide.
However, if you're searching specifically for CDs, Woodforest might be worth exploring. It offers the best interest rates out of all three banks, and you'll only need $500 to open one.
Via PakApNews