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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

Established in 1988, Enterprise Bank & Trust has $5 billion in assets and $4 billion in deposits, making the institution a large bank. Enterprise Bank & Trust, whose headquarters are in Clayton, Missouri, 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, Enterprise Bank & Trust is a great choice and should warrant serious consideration, with a rating of 4.3 stars out of 5 from our team. Enterprise Bank & Trust has a mixture of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It 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 bank is your best option for gaining the most income on your deposits while maintaining 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

Enterprise Bank & Trust has a savings rate of 0.25%, which is poor in comparison to the national average. Its one-year CD has a rate of 0.90%, while its highest-yielding money market account has an APY of 0.20%. Given its poor savings rate, you should think about other options to earn more on your deposits.

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

On average, Enterprise Bank & Trust charges customers extremely low fees in comparison to other U.S. banks. Additionally, Enterprise Bank & Trust has an overdraft fee of $30.00, which is noticeably less than the average U.S. overdraft fee. Enterprise Bank & Trust does not reimburse out-of-network ATM fees, which means you will have to search for an Enterprise Bank & Trust ATM or eat the ATM charge.

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. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not offer all-day customer service with representatives. You can get help during its customer service 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 platforms receive poor feedback from customers. 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). You can use Enterprise Bank & Trust's app to control your funds by checking account balances, transferring funds as well as reaching support representatives. Enterprise Bank & Trust gets an exceptional consumer satisfaction score due to comparatively few consumer complaints filed 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 is currently a large bank owning $5 billion in assets as well as deposits totaling $4 billion. Its Texas Ratio is 2.92%, denoting that Enterprise Bank & Trust is in superb financial health and far from 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
$1000 for all terms
Money Market Account 0.2% APY $10000

Enterprise Bank & Trust has several deposit products like 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 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. Enterprise Bank & Trust's CD rates are fair compared to other U.S. banks.

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Find a Enterprise Bank & Trust Near Me

Enterprise Bank & Trust has 33 physical branches across the U.S.

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