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Extraco Banks Review

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Extraco Banks Money Market
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Extraco Banks started in 1933 with its headquarters in Temple, Texas. It has $1 billion in assets as well as deposits totaling $1 billion, classifying it as a large bank. Extraco Banks has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. 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. On the whole, Extraco Banks is a respectable bank that gets the job done, with a score of 4.1 stars out of 5 from our experts. Extraco Banks provides customers with a full suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs and credit cards. It has a fair savings rate compared to the average savings account. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same bank is the best option for returning the most income on your deposits while having easy 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

Extraco Banks's one-year CD earns at a rate of 1.00% and the five-year CD has a rate of 2.00%, while its highest-yielding money market account earns at a rate of 0.25%.

How Extraco Banks's Savings Rates Compare

Extraco Banks Money Market 0.20 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Extraco Banks generally has average fees compared to the national average. Also, Extraco Banks has an overdraft fee of $35.00, which is on par with the national average. Extraco Banks unfortunately doesn't refund out-of-network ATM charges, meaning you'll be required to locate an Extraco Banks ATM or accept the fee.

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

SmartAsset Average: 3.7

Extraco Banks is a brick-and-mortar bank, with 17 total branches in Texas. With mobile and web apps, Extraco Banks 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, 7:00 a.m. to 11:00 p.m. CT; Saturday, 8:00 a.m. to 5:00 p.m. CT; Sunday, and 9:00 a.m. to 5:00 p.m. CT. Additionally, Extraco Banks offers a live chat feature, which may provide helpful service without getting on the phone. Extraco Banks's online and mobile banking services get mediocre marks from customers. With 68 customer reviews on iOS and Android platforms, the Extraco Banks mobile app has an overall rating of 2.9 out of 5 (compared to the national average of 3.8). Extraco Banks's mobile app lets you manage your bank accounts by looking at current statements, sending and receiving money as well as reaching customer service. Extraco Banks gets an excellent consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 2.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

SmartAsset Average: 4.8

Extraco Banks is a large bank and handles $1 billion in assets as well as $1 billion in deposits. It has an excellent Texas Ratio of 1.04%, indicating a low chance of failure. Additionally, Extraco Banks 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 Extraco Banks to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.35% APY
  • 36 Month: 1.75% APY
  • 48 Month: 1.85% APY
  • 60 Month: 2.00% APY
$1000 for all terms
Money Market Account 0.2% APY $10000

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

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Find a Extraco Banks Near Me

Extraco Banks has 17 physical branches in the U.S.

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