Loading
Tap on the profile icon to edit
your financial details.

CoastalStates Bank Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
CoastalStates Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 2004, CoastalStates Bank has assets totaling $531 million along with deposits totaling $373 million, classifying the institution as a medium-size bank. CoastalStates Bank, whose headquarters are in Hilton Head Isla, 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. Overall, CoastalStates Bank is an average bank that leaves room for improvement, with a score of 3.7 stars out of 5 from our experts. CoastalStates Bank has a full selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. CoastalStates Bank has a fair savings rate; other popular banks have higher rates. Using a bank with no-fee checking, in addition to a high interest rate savings account is the best option for returning the highest income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.7/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

CoastalStates Bank features a savings rate of 0.15%, which is fair in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.25% and 1.15%, respectively, while its highest-yielding money market account earns at a rate of 0.18%. Given CoastalStates Bank's below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How CoastalStates Bank's Savings Rates Compare

CoastalStates Bank Savings 0.15 National Average 0.26 Compare Offers
Back to Overview

Fees

NR
SmartAsset Average: 4.4

There is insufficient data on CoastalStates Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

3.7
SmartAsset Average: 3.7

CoastalStates Bank is a brick-and-mortar bank, with five total branches in South Carolina. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Thursday, 8:30 a.m. to 5:00 p.m. HI, Friday, and 8:30 a.m. to 5:30 p.m. HI. CoastalStates Bank gets moderate marks from users for its mobile app. With 12 customer reviews across Apple and Android platforms, the CoastalStates Bank mobile app rates a 3.6 out of 5 (compared to the national average of 3.8). CoastalStates Bank's mobile app lets you control your funds by monitoring monthly statements, sending and receiving funds and accessing support representatives. CoastalStates Bank receives an excellent consumer satisfaction rating based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.3
SmartAsset Average: 4.8

CoastalStates Bank is a medium-size bank with $531 million in assets and $373 million in deposits. CoastalStates Bank has a strong Texas Ratio of 15.92%, signifying that CoastalStates Bank is in fine financial condition and unlikely to fail. Additionally, CoastalStates Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

15.92%
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 CoastalStates Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.40% APY
  • 36 Month: 0.50% APY
  • 48 Month: 1.15% APY
  • 60 Month: 1.15% APY
$1000 for all terms
Money Market Accounts 0.05% APY 0.18% APY $10000 $15000

CoastalStates Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. CoastalStates Bank does not have the best savings rate, which means you should think about 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. CoastalStates Bank's CD rates are fair as compared against the national average.

Back to Overview

Find a CoastalStates Bank Near Me

CoastalStates Bank has five physical branches 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