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Arthur State Bank Review

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Arthur State Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1933, Arthur State Bank has $490 million in assets as well as $437 million in deposits, classifying the institution as a medium-size bank. Arthur State Bank, whose headquarters are in Union, South Carolina, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4 stars out of 5, Arthur State Bank is a respectable bank that deserves your consideration. Arthur State Bank has a diverse array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Arthur State Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Arthur State Bank's standard checking does not carry a monthly fee. Locating a checking account with no monthly fee as well as a savings account with a high APY at the same bank is the best bet for returning the most income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

2.8
SmartAsset Average: 3.5

With a savings rate of 0.05%, Arthur State Bank ranks poorly compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 0.25% and 0.85%, respectively, while its highest-yielding money market account has an APY of 0.10%. Given Arthur State Bank's below average savings rate, you should consider looking at the competition to open savings accounts.

How Arthur State Bank's Savings Rates Compare

Arthur State Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Arthur State Bank charges its customers extremely low fees in comparison to other U.S. banks. Arthur State Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. Arthur State Bank unfortunately does not reimburse out-of-network ATM fees, which means you will be required to locate an Arthur State Bank ATM or accept the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.7
SmartAsset Average: 3.7

Arthur State Bank is a brick-and-mortar bank, with 18 total branches in South Carolina. With mobile and web apps, Arthur State Bank makes mobile banking straightforward, even on the go. Arthur State Bank gets fair reviews from customers for its mobile platform. The Arthur State Bank mobile app scored a 3.6 out of 5 (with 34 ratings on Apple and Android) compared to the national average of 3.8. You can utilize Arthur State Bank's app to manage your funds by reviewing current statements, sending and receiving funds and reaching customer service. Arthur State Bank gets an excellent consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.4
SmartAsset Average: 4.8

Arthur State Bank is a medium-size bank with assets totaling $490 million and deposits totaling $437 million. Its Texas Ratio is 13.53%, signifying a tiny opportunity of failure. Additionally, Arthur State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

13.53%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Arthur State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $50
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.45% APY
  • 36 Month: 0.50% APY
  • 48 Month: 0.65% APY
  • 60 Month: 0.85% APY
$500 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

Arthur State Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Arthur State Bank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Arthur State Bank's CD rates are fair compared to the national average.

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Find a Arthur State Bank Near Me

Arthur State Bank has 18 physical branches in the U.S.

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