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Green Bank Review

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Green Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1999, Green Bank has assets totaling $4 billion and $3 billion in deposits, which makes it a large bank. Green Bank, whose headquarters are in Houston, Texas, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. We ranked Green Bank at a 3.9 stars out of 5, suggesting it is a respectable bank that you should consider. Green Bank provides customers with a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs and IRAs. Green Bank has a fair savings rate compared to the average savings account. The bank's standard checking account has a $7.00 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Banks that offer free checking, in addition to a high interest rate savings account are the best option for accruing the most income on your deposits while having 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

3.3
SmartAsset Average: 3.5

Green Bank has a savings rate of 0.15%, which is fair in comparison to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.75% and 1.30%, respectively, while its highest-yielding money market account earns at a rate of 0.35%. Given its below average savings rate, you should think about other options to earn more on your deposits.

How Green Bank's Savings Rates Compare

Green Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

3.4
SmartAsset Average: 4.4

Green Bank typically has high fees compared to the national average. At $7.00/month, Green Bank is less than ideal for people who want a simple banking experience. For those who will need cash in a pinch, Green Bank is good because it has an out-of-network ATM fee of $1.00, which is solid compared to the national average. Green Bank unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll be required to locate a Green Bank ATM or pay the ATM charge.

Monthly Fee $7.00 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.2
SmartAsset Average: 3.7

Green Bank is a brick-and-mortar bank, with 23 total branches in Kentucky and Texas. It also offers access to mobile and web apps for an easy mobile-banking experience. Green Bank receives fairly decent scores from users for its online presence. Out of 19 ratings on both Apple and Android platforms, the Green Bank mobile app rates a 4.4 out of 5 (compared to the national average of 3.8). You can access Green Bank's app to manage your funds by reviewing monthly statements, sending and receiving money as well as reaching support representatives. Green Bank gets a superb 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 4.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Green Bank is currently a large bank owning assets totaling $4 billion and $3 billion in deposits. It has a strong Texas Ratio of 9.58%, suggesting that Green Bank is in good financial shape and far from failure. Additionally, Green Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

9.58%
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 Green Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.10% APY
  • 48 Month: 1.20% APY
  • 60 Month: 1.30% APY
$1000 for all terms
Money Market Account 0.35% APY $10000

Green Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Green Bank does not have the best savings rate, which means you should think about other options 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. Green Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Green Bank Near Me

Green Bank has 23 physical locations across the U.S.

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