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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

Started in 1933, Arthur State Bank has $490 million in assets and deposits totaling $437 million, making it a medium-size bank. Arthur State Bank, whose headquarters are in Union, South Carolina, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at a commendable 4 stars out of 5, Arthur State Bank proves it is a respectable bank that deserves your consideration. Arthur State Bank provides customers with a full 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; other popular banks have higher rates. If you're looking for a checking account for everyday use, Arthur State Bank's standard checking account does not have a monthly fee. Institutions that offer free checking and a high interest rate savings account are the best bet for getting the highest income from your deposits while having 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 CD rates are 0.25% and 0.85% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given Arthur State Bank's below average savings rate, you should think about 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

On average, Arthur State Bank charges customers extremely low fees compared to the national average. With no monthly fee, Arthur State Bank's checking account is ideal for people who need a hassle-free banking experience. Arthur State Bank unfortunately does not reimburse out-of-network ATM charges, which means you'll need to locate an Arthur State Bank ATM or pay the withdrawal fee.

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. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Arthur State Bank receives moderate reviews from users for its mobile banking services. Out of 34 ratings on iOS and Android platforms, the Arthur State Bank mobile app has an overall rating of 3.6 out of 5 (compared to the national average of 3.8). You can utilize Arthur State Bank's app to control your finances by reviewing current statements, transferring funds as well as accessing support representatives. Arthur State Bank receives an excellent consumer satisfaction score based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial 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 currently a medium-size bank owning assets totaling $490 million and deposits totaling $437 million. Arthur State Bank has a strong Texas Ratio of 13.53%, suggesting a small chance 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 Account 0.1% APY $500

Arthur State Bank has several deposit products like 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 think about looking 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 as compared against the national average.

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Find a Arthur State Bank Near Me

Arthur State Bank has 18 branches across the U.S.

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