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

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

Overview

Forward Financial Bank started in 1919 with headquarters in Marshfield, Wisconsin. Forward Financial Bank owns assets of $441 million and deposits totaling $328 million, which makes it 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 offerings. SmartAsset experts rated Forward Financial Bank 4.5 stars out of 5, suggesting it is a superb bank that you should strongly consider. Forward Financial Bank offers an array product offerings, including 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 looking for a checking account for everyday use, the bank's most basic checking does not have a monthly maintenance fee. Locating an institution with free checking and a high interest rate savings account is your best bet for gaining the most income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

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

Rates

4.0
SmartAsset Average: 3.5

Forward Financial Bank has a savings rate of 0.10%, which is poor compared to the national average. Its CD rates are 2.25% and 2.95% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.65%. Given its poor savings rate, you should consider taking a look at other banks for savings accounts.

How Forward Financial Bank's Savings Rates Compare

Forward Financial Bank Savings 0.10 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

Forward Financial Bank has typically extremely low fees as compared against the national average. With no monthly fee, Forward Financial Bank is perfect for people who want a simple banking experience. Forward Financial Bank does not refund out-of-network ATM charges, which means you will be required to locate a Forward Financial Bank ATM or pay 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
Back to Overview

Service Quality

4.2
SmartAsset Average: 3.7

Forward Financial Bank is a brick-and-mortar bank, with eight total branches in Wisconsin. With mobile and web apps, Forward Financial Bank makes mobile banking convenient, even on the go. It does not provide access to 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's online and mobile banking platforms receive high marks from customers. The Forward Financial Bank mobile app has been given a 4.5 out of 5 (with 6 customer reviews on iOS and Android) compared to the national average of 3.8. You can access Forward Financial Bank's mobile app to manage your accounts by checking current statements, transferring funds as well as reaching customer service. Forward Financial Bank gets an outstanding consumer satisfaction rating based on relatively few consumer complaints filed with 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
Back to Overview

Financial Health

4.9
SmartAsset Average: 4.8

Forward Financial Bank is currently a medium-size bank and manages assets totaling $441 million and $328 million in deposits. Forward Financial Bank's Texas Ratio is 3.93%, suggesting that the bank is in excellent financial well-being and far from 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

3.93%
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 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: 2.25% APY
  • 24 Month: 2.44% APY
  • 36 Month: 2.52% APY
  • 48 Month: 2.76% APY
  • 60 Month: 2.95% APY
$10000 for all terms
Money Market Accounts 0.65% APY 0.65% APY $10000 $15000

Forward Financial Bank offers several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. Forward Financial Bank 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. Forward Financial Bank's CD rates are fair in comparison to other U.S. banks.

Back to Overview

Find a Forward Financial Bank Near Me

Forward Financial Bank has eight physical locations 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