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Enterprise Bank & Trust Review

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Enterprise Bank & Trust Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1988, Enterprise Bank & Trust has $5 billion in assets along with deposits totaling $4 billion, classifying it as a large bank. Enterprise Bank & Trust, whose headquarters are in Clayton, Missouri, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Overall, Enterprise Bank & Trust is a great bank that you should seriously consider, with a score of 4.3 stars out of 5 from our experts. Enterprise Bank & Trust offers a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Enterprise Bank & Trust has a fair savings rate; you can find higher rates with other banks. Obtaining a checking account with no monthly fee and a savings account with a high APY at the same institution is the best option for getting the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.6
SmartAsset Average: 3.5

With a savings rate of 0.25%, Enterprise Bank & Trust ranks poorly as compared against the national average. Enterprise Bank & Trust's one-year and five-year term lengths CDs earn at a rate of 0.90% and 1.31%, respectively, while its highest-yielding money market account earns at a rate of 0.20%. Given Enterprise Bank & Trust's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How Enterprise Bank & Trust's Savings Rates Compare

Enterprise Bank & Trust Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Enterprise Bank & Trust has generally extremely low fees in comparison to other U.S. banks. Also, at $30.00, its overdraft fee is markedly lower than the national average. Enterprise Bank & Trust unfortunately does not refund out-of-network ATM charges, meaning you'll need to find an Enterprise Bank & Trust ATM or pay the withdrawal fee.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

3.5
SmartAsset Average: 3.7

Enterprise Bank & Trust is a brick-and-mortar bank, with 33 total bank locations in Arizona, Kansas and Missouri. With mobile and web apps, Enterprise Bank & Trust makes account access convenient, even on the go. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday and 7:30 a.m. to 6:00 p.m. CT. Enterprise Bank & Trust's online and mobile banking services receive poor scores from users. Out of 100 customer reviews on both iOS and Android platforms, the Enterprise Bank & Trust mobile app has an overall rating of 3.1 out of 5 (compared to the national average of 3.8). Enterprise Bank & Trust's mobile app allows you to manage your accounts by reviewing account balances, sending and receiving money and reaching support representatives. Enterprise Bank & Trust receives an outstanding consumer satisfaction score due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Enterprise Bank & Trust ranks as a large bank and has $5 billion in assets as well as $4 billion in deposits. Enterprise Bank & Trust's Texas Ratio is 2.92%, indicating a low likelihood of failure. Additionally, Enterprise Bank & Trust 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.

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Compare Enterprise Bank & Trust to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.2% APY $2500
Certificates of Deposit
  • 12 Month: 0.90% APY
  • 24 Month: 1.10% APY
  • 36 Month: 1.15% APY
  • 48 Month: 1.35% APY
  • 60 Month: 1.31% APY
$1000 for all terms
Money Market Account 0.2% APY $10000

Enterprise Bank & Trust has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Enterprise Bank & Trust 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. Enterprise Bank & Trust's CD rates are fair in comparison to the average U.S. bank.

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Find a Enterprise Bank & Trust Near Me

Enterprise Bank & Trust has 33 locations in the U.S.

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