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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

Green Bank was founded in 1999 with its headquarters in Houston, Texas. It owns assets of $4 billion and deposits totaling $3 billion, classifying it as a large bank. Green Bank 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 access to service representatives at a physical location, in addition to its online and mobile apps. Overall, Green Bank is a respectable bank that deserves your consideration, with a rating of 3.9 stars out of 5 from the SmartAsset experts. Green Bank provides customers with a varied choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs and IRAs. Green Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product carries a $7.00 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Finding an institution with no-fee checking, in addition to a high interest rate savings account is the best option for returning the highest income on your deposits while maintaining convenient access to your money.

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 poor in comparison to other U.S. banks. Its one-year CD has a rate of 0.75% and the five-year CD has a rate of 1.30%, while its highest-yielding money market account has an APY of 0.35%. Given its noncompetitive 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 generally has high fees in comparison to other U.S. banks. Its checking account has a monthly fee of $7.00, making it fair for anyone looking for a hassle-free account. For those who withdraw cash frequently, Green Bank is good because it charges an out-of-network ATM fee of $1.00, which is solid compared to other U.S. banks. Green Bank unfortunately doesn't refund out-of-network ATM fees, meaning you will need to locate a Green Bank ATM or accept the cost of withdrawal.

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 bank locations in Kentucky and Texas. With mobile and web apps, Green Bank makes mobile banking easy, even on the go. Green Bank receives relatively high praise from customers for its online presence. The Green Bank mobile app scored a 4.4 out of 5 (with 19 reviews on Apple and Android) compared to the national average of 3.8. Green Bank's mobile app lets you manage your bank accounts by monitoring current statements, sending and receiving money and reaching support representatives. Green Bank gets an exceptional consumer satisfaction rating due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored 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 ranks as a large bank and has assets totaling $4 billion as well as deposits totaling $3 billion. Its Texas Ratio is 9.58%, suggesting a small opportunity of 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 that provide you with many options to manage your money. Green Bank does not have the best savings rate, which means you should consider 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 other U.S. banks.

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Find a Green Bank Near Me

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

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