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Forward Financial Bank Review

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Forward Financial Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Forward Financial Bank first started operating in 1919 and has its headquarters in Marshfield, Wisconsin. Forward Financial Bank owns $441 million in assets along with deposits totaling $328 million, classifying it as a medium-size bank. Forward Financial Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. SmartAsset has rated Forward Financial Bank 4.5 out of 5 stars, suggesting it is an exceptional bank that you should strongly consider. Forward Financial Bank provides customers with an array product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Forward Financial Bank's standard checking does not carry a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is your best option for gaining the most income on your deposits while maintaining convenient access to your funds.

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 0.10%, Forward Financial Bank ranks poorly compared to the average U.S. bank. Its CDs feature a rate of 1.95% and 2.83% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.50%. Given its noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How Forward Financial Bank's Savings Rates Compare

Forward Financial Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Forward Financial Bank charges its customers extremely low fees as compared against the national average. With no monthly fee, Forward Financial Bank's checking account is perfect for people who need a hassle-free checking account. Forward Financial Bank does not refund out-of-network ATM fees, which means you'll need to locate a Forward Financial Bank ATM or eat the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Forward Financial Bank is a brick-and-mortar bank, with eight total branches in Wisconsin. It also offers access to mobile and web apps for easy access and banking on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:30 a.m. to 4:30 p.m. CT; Saturday, and 8:30 a.m. to 12:00 p.m. CT. Forward Financial Bank receives high marks from customers for its mobile platform. Out of 6 customer reviews on both iOS and Android platforms, the Forward Financial Bank mobile app rates a 4.5 out of 5 (compared to the national average of 3.8). You can access Forward Financial Bank's app to control your bank accounts by checking current statements, transferring funds as well as accessing customer service. Forward Financial Bank receives an exceptional consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Forward Financial Bank ranks as a medium-size bank with assets totaling $441 million and $328 million in deposits. Forward Financial Bank's Texas Ratio is 3.93%, denoting a minute chance of failure. Additionally, Forward Financial 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.

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Compare Forward Financial Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $2500
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.95% APY
  • 24 Month: 2.34% APY
  • 36 Month: 2.27% APY
  • 48 Month: 2.65% APY
  • 60 Month: 2.83% APY
$10000 for all terms
Money Market Account 0.5% APY $1

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

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Find a Forward Financial Bank Near Me

Forward Financial Bank has eight physical branches across the U.S.

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