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Glacier Bank Review

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Glacier Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1955, Glacier Bank has $10 billion in assets as well as $8 billion in deposits, classifying the institution as a large bank. Glacier Bank, whose headquarters are in Kalispell, Montana, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 3.9 out of 5 stars, Glacier Bank should be near the middle of the pack in your search for a bank. Glacier Bank provides customers with the complete package of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. Glacier Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Glacier Bank's most basic checking account does not have a monthly charge. Obtaining a checking account with no monthly fee and a savings account with a high APY at the same institution is the best option for getting the most income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.25%, Glacier Bank ranks poorly as compared against the national average. Its CDs feature a rate of 1.26% and 1.70% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.60%. Given Glacier Bank's noncompetitive savings rate, you should think about other options to earn more on your deposits.

How Glacier Bank's Savings Rates Compare

Glacier Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

Glacier Bank generally has low fees compared to the national average. Glacier Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. For those who often withdraw money from the ATM, it is fair because it has an out-of-network ATM fee of $2.00, which is reasonable compared to the national average. Additionally, at $30.00, its overdraft fee is noticeably lower than that of other U.S. banks. Glacier Bank doesn't refund out-of-network ATM charges, which means you will need to search for a Glacier Bank ATM or eat the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

3.2
SmartAsset Average: 3.7

Glacier Bank is a brick-and-mortar bank, with 154 total branches in Arizona, Colorado, Idaho, Montana, Utah, Washington and Wyoming. It also offers access to mobile and web apps for an easy mobile-banking experience. Glacier Bank receives poor marks from customers for its mobile platform. Out of 580 ratings on Apple and Android platforms, the Glacier Bank mobile app has an overall rating of 2.6 out of 5 (compared to the national average of 3.8). Glacier Bank's mobile app lets you manage your funds by looking at monthly statements, sending and receiving funds and reaching support representatives. Glacier Bank gets an outstanding consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 2.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Glacier Bank ranks as a large bank owning assets totaling $10 billion and deposits totaling $8 billion. Its Texas Ratio is 4.11%, indicating a low possibility of failure. Additionally, Glacier Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.11%
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 Glacier Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $300
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 1.26% APY
  • 24 Month: 1.36% APY
  • 36 Month: 1.50% APY
  • 48 Month: 1.50% APY
  • 60 Month: 1.70% APY
$500 for all terms
Money Market Accounts 0.5% APY 0.6% APY $10000 $15000

Glacier Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Glacier Bank 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. Glacier Bank's CD rates are fair compared to the national average.

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Find a Glacier Bank Near Me

Glacier Bank has 154 physical locations in the U.S.

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