Guaranty Bank & Trust Review

Overview

Started in 1913, Guaranty Bank & Trust has $2 billion in assets as well as $2 billion in deposits, making it a large bank. Guaranty Bank & Trust, whose headquarters are in Mount Pleasant, Texas, has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We gave the bank a 4.5 stars out of 5, which means Guaranty Bank & Trust is an excellent bank that you should seriously consider. Guaranty Bank & Trust offers a full array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Guaranty Bank & Trust has a fair savings rate compared to the average savings account. The bank's standard checking account has a monthly fee of $5.00, which places it at the higher end of monthly fees. Finding a checking account with no monthly fee as well as a savings account with a high APY at the same bank is the best option for getting the most income on your deposits while maintaining convenient access to your money.

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

Guaranty Bank & Trust features a savings rate of 0.45%, which is fair in comparison to the average U.S. bank. Its CD rates are 1.61% and 2.68% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.90%. Given its below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Guaranty Bank & Trust's Savings Rates Compare

Guaranty Bank & Trust typically has average fees compared to the average U.S. bank. Its checking account has a monthly fee of $5.00, rating it fair for anyone looking for a hassle-free account. For those who will need cash in a pinch, it is perfect because it charges no out-of-network ATM fees. Guaranty Bank & Trust does not refund out-of-network ATM charges, meaning you'll have to locate a Guaranty Bank & Trust ATM or eat the withdrawal fee.

Guaranty Bank & Trust is a brick-and-mortar bank, with 36 total bank locations in Texas. With mobile and web apps, Guaranty Bank & Trust makes account access convenient, even on the go. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday and 8:00 a.m. to 7:00 p.m. CT.. Guaranty Bank & Trust also offers a live chat feature, a helpful way to reach a representative during the work day. Guaranty Bank & Trust's online and mobile banking services get great scores from users. The Guaranty Bank & Trust mobile app scored a 4.5 out of 5 (out of 440 reviews on iOS and Android) compared to the national average of 3.8. You can utilize Guaranty Bank & Trust's mobile app to control your finances by looking at monthly statements, sending and receiving money and reaching support representatives. Guaranty Bank & Trust gets an outstanding consumer satisfaction rating due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Guaranty Bank & Trust is currently a large bank with assets totaling $2 billion as well as deposits totaling $2 billion. It has an excellent Texas Ratio of 2.83%, suggesting that the bank is in terrific financial shape and unlikely to fail. Additionally, Guaranty Bank & Trust is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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.

Products Offered

Guaranty Bank & Trust has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Guaranty Bank & Trust 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. Guaranty Bank & Trust's CD rates are fair as compared against the national average.

Find a Guaranty Bank & Trust Near Me

Guaranty Bank & Trust has 36 locations across the U.S.