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Frontier Bank Review

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Frontier Bank Savings
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1937, Frontier Bank has assets totaling $787 million as well as deposits totaling $613 million, classifying it as a medium-size bank. Frontier Bank, whose headquarters are in Omaha, Nebraska, lacks premium access to support representatives, 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. We gave the bank a 4.4 out of 5 stars, indicating that Frontier Bank is a solid contender in your bank search. Frontier Bank has a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Frontier Bank's standard checking account does not have a monthly fee. Institutions that offer free checking and a high interest rate savings account are the best option for accruing the highest income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

4.2
SmartAsset Average: 3.5

Frontier Bank has a savings rate of 0.50%, which is poor compared to other U.S. banks. Frontier Bank's CD rates are 2.27% and 3.03% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.80%. Given its poor savings rate, you should consider looking at the competition to open savings accounts.

How Frontier Bank's Savings Rates Compare

Frontier Bank Savings 0.50 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Frontier Bank has typically extremely low fees in comparison to the average U.S. bank. Frontier Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. Frontier Bank unfortunately doesn't refund out-of-network ATM charges, meaning you will have to locate a Frontier Bank ATM or accept 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

3.8
SmartAsset Average: 3.7

Frontier Bank is a brick-and-mortar bank, with nine total branches in Nebraska. With mobile and web apps, Frontier Bank makes mobile banking convenient, even on the go. Frontier Bank's online and mobile banking services get moderate marks from users. Out of 6 ratings across both iOS and Android platforms, the Frontier Bank mobile app rates a 3.7 out of 5 (compared to the national average of 3.8). You can utilize Frontier Bank's mobile app to control your finances by reviewing monthly statements, transferring money and reaching customer service. Frontier Bank gets a superb consumer satisfaction score due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Frontier Bank is currently a medium-size bank and manages $787 million in assets as well as deposits totaling $613 million. Its Texas Ratio is 6.71%, signifying a tiny chance of failure. Additionally, Frontier Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

6.71%
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 Frontier Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $100
Checking Account 0.25% APY $1000
Certificates of Deposit
  • 12 Month: 2.27% APY
  • 24 Month: 2.10% APY
  • 36 Month: 2.30% APY
  • 48 Month: 2.78% APY
  • 60 Month: 3.03% APY
$10000 for all terms
Money Market Account 0.6% APY $10000

Frontier Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Frontier 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. Frontier Bank's CD rates are fair compared to the national average.

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Find a Frontier Bank Near Me

Frontier Bank has nine physical branches in the U.S.

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