Bank of Travelers Rest Review

Overview

Founded in 1946, Bank of Travelers Rest has assets totaling $1.32 billion as well as deposits totaling $1.22 billion, classifying the institution as a medium-size bank. Bank of Travelers Rest, whose headquarters are in Travelers Rest, South Carolina, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Overall, Bank of Travelers Rest is a solid pick to be your bank, with a rating of 4.3 out of 5 stars from our experts. Bank of Travelers Rest offers a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Bank of Travelers Rest has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Bank of Travelers Rest's ordinary checking account does not have a monthly fee. Finding a checking account with no monthly fee and a savings account with a high APY at the same institution is your best option for returning the most income from your deposits while having convenient access to your money.

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

Bank of Travelers Rest features a savings rate of 0.15%, which is poor compared to the national average. Its CDs feature a rate of 3.03% and 2.78% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 4.07%. Given its below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Bank of Travelers Rest's Savings Rates Compare

Bank of Travelers Rest has typically extremely low fees in comparison to other U.S. banks. With no monthly fee, Bank of Travelers Rest's checking account is perfect for those who want an easy checking account. Additionally, at $28.50, Bank of Travelers Rest's overdraft fee is significantly lower than the average U.S. overdraft fee. Bank of Travelers Rest unfortunately doesn't reimburse out-of-network ATM fees, meaning you will be required to search for a Bank of Travelers Rest ATM or accept the withdrawal fee.

Bank of Travelers Rest is a brick-and-mortar bank, with 10 total bank locations in South Carolina. With mobile and web apps, Bank of Travelers Rest makes mobile banking convenient, even on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 9:00 a.m. to 1:00 p.m. ET. Bank of Travelers Rest gets average reviews from customers for its mobile app. The Bank of Travelers Rest mobile app rates a 3.7 out of 5 (out of 87 reviews on iOS and Android) compared to the national average of 3.8. Bank of Travelers Rest's mobile app allows you to manage your bank accounts by monitoring current statements, transferring money as well as accessing customer service. Bank of Travelers Rest receives an outstanding consumer satisfaction score based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Bank of Travelers Rest ranks as a medium-size bank owning assets totaling $1.32 billion as well as $1.22 billion in deposits. Bank of Travelers Rest's Texas Ratio is 0.43%, signifying a low probability of failure. Additionally, Bank of Travelers Rest is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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.

Products Offered

Bank of Travelers Rest has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Bank of Travelers Rest does not have the best savings rate, which means you should consider other options 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. Bank of Travelers Rest's CD rates are fair compared to the average U.S. bank.

Find a Bank of Travelers Rest Near Me

Bank of Travelers Rest has 10 branches across the U.S.