Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

Benchmark Bank Review

Your Details Done
by Updated
Benchmark Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Benchmark Bank first started operating in 1964 and is headquartered in Plano, Texas. It manages assets of $546 million along with $491 million in deposits, making it a medium-size bank. Benchmark Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Coming in at a poor 3.3 out of 5 stars, Benchmark Bank proves it is a satisfactory bank that might not check all the boxes. Benchmark Bank has a choice of product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. Benchmark Bank has a fair savings rate; other popular banks have higher rates. The bank's standard checking account features a $8.00 monthly fee, making it a rather costly bank for checking. Institutions that offer free checking as well as a high interest rate savings account are the best bet for gaining the highest income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.05%, Benchmark Bank ranks poorly compared to the national average. Its CDs feature a rate of 0.40% and 1.00% for the one-year and five-year term lengths, respectively. Given its poor savings rate, you should consider other options to earn more on your deposits.

How Benchmark Bank's Savings Rates Compare

Benchmark Bank Savings 0.05 National Average 0.26 Compare Offers
Back to Overview


SmartAsset Average: 4.4

Benchmark Bank charges customers high fees in comparison to the average U.S. bank. Its checking account has a monthly fee of $8.00, ranking it fair for anyone looking for a simple account. Benchmark Bank unfortunately doesn't reimburse out-of-network ATM charges, meaning you will have to locate a Benchmark Bank ATM or pay the cost of withdrawal.

Monthly Fee $8.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

SmartAsset Average: 3.7

Benchmark Bank is a brick-and-mortar bank, with nine total branches in Texas. With mobile and web apps, Benchmark Bank makes account access easy, even on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday and 8:30 a.m. to 4:30 p.m. CT. Benchmark Bank gets poor reviews from customers for its mobile app. Out of 2 ratings across both Apple and Android platforms, the Benchmark Bank mobile app has an overall rating of 3.0 out of 5 (compared to the national average of 3.8). You can access Benchmark Bank's app to control your funds by checking monthly statements, sending and receiving funds and reaching support representatives. Benchmark Bank gets a superb consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

SmartAsset Average: 4.8

Benchmark Bank is currently a medium-size bank and has $546 million in assets and $491 million in deposits. Benchmark Bank has a strong Texas Ratio of 5.58%, denoting that the bank is in good financial shape and far from failure. Additionally, Benchmark Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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.

Back to Overview

Compare Benchmark Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.70% APY
  • 60 Month: 1.00% APY
$10001 for all terms

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

Back to Overview

Find a Benchmark Bank Near Me

Benchmark Bank has nine physical locations across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure