Intrust Bank Review

Intrust Bank Savings

0.60% APY

Intrust Bank can trace its roots back to Kansas in the 1800s. It has existed in several forms such as as the Farmers & Merchants Bank and the First National Bank in Wichita. Today, it stands as Intrust Bank and still serves communities throughout Kansas. In fact, it remains the largest independent bank headquartered in the state. But despite its geographic restrictions, it offers the same types of products as its national counterparts. You can find checking and savings accounts, as well as certificate of deposit (CD) options and individual retirement accounts (IRAs). Staying true to its community values, the bank often works with existing agencies and neighborhood residents to stimulate surrounding economies. You can find more than 40 Intrust branches scattered throughout the Wheat State.

Products Offered

Intrust Bank Interest Rate Comparison

Regular Savings

Although it doesn’t offer the strongest interest rate, the Regular Savings account by Intrust Bank offers a great degree of flexibility. For example, you can waive its $5 monthly service fee by keeping a minimum average collected account balance of $300. You also get access to free online banking. Overall, it’s a straightforward savings account that’s easy to manage. 

But if you’re looking for higher rates and additional features, you may find more appealing options by comparing savings accounts from banks in your area as well as those at online institutions with no geographic requirements. 

Youth Savings

If you’re under the age of 18 or have a child in that age range, you might be interested in opening a Youth Savings account. Intrust Bank offers this option to encourage children to start learning about the value of saving and practicing it as early as possible. This account earns interest on the entire balance and charges no monthly service fee. So account holders don’t lose anything they’re putting in. 

Plus, the account converts to a Regular Savings option as soon as the child turns 18 in order to keep savings growing. But if you’re interested in learning more about the features and benefits of savings accounts designed for children, you can check out the best savings accounts for kids which we have analyzed for you.

Certificates of Deposit (CDs)

You can open certificate of deposit (CD) accounts or Time Deposits as they are called at Intrust Bank for terms stretching from 90 days to five years. You can even open a jumbo CD with a minimum deposit of $100,000 for as little as seven days. 

Most CDs automatically renew with the same terms and interest rate at the time. However, you have a 10 calendar day period after your term ends to withdraw your money penalty free. But be warned, the bank will charge substantial early withdrawal penalties if you take your money out before your CD reaches maturity. The severity of that penalty depends on the term of your CD and the time you decide to make the early withdrawal. Contact a local branch for more information. 

Money Market Savings

Intrust Bank offers a straightforward money market account. It collects interest on a tiered basis. However, you need to maintain a minimum balance of $5 million to earn its highest current APY of 4.00%. You may find higher rates with less restrictions at other banks when you compare money market accounts.  

Individual Retirement Account (IRA)  

Intrust Bank offers several ways you can save for retirement. For example, you can open a traditional individual retirement account (IRA) or a Roth IRA with fixed interest rates. By investing in an IRA, your earnings grow tax-free until you make qualified withdrawals when you're at least age 59.5. Plus, your contributions may be tax deductible. With a Roth IRA, qualified withdrawals are tax free. But you contribute after-tax dollars toward these accounts so it won’t reduce your taxable income. 

At Intrust Bank, these accounts function much like IRA CDs. You lock in your money for a fixed interest rate for a set amount of time. 

But to figure out which option best serves your individual needs, you should seek a qualified tax or financial advisor. Our find a financial advisor tool can link you to professionals in your area based on your preferences and financial goals. It asks you a few simple questions before recommending up to three local advisors. You can then review their qualifications and even set up interviews before making your decision. 

Free Checking

The Free Checking account is a straightforward banking product that comes with no minimum and no monthly fees. All account holders will also receive access to an INTRUST Visa® Debit Card, complete with university designs for the card. You'll also gain access to online and mobile banking services. 

Intrust Advantage Checking

The Intrust Advantage Checking account offers the same benefits as its Essential counterpart. However, this interest-earning account also offers the following features free of charge. 

• Personal checks
• Cashier's checks
• ATM fee reimbursements (up to $6 in rebates on Intrust's fees and up to $6 in refunds on fees other banks assess in a statement cycle) 

You can also avoid its $15 monthly service fee by maintaining a minimum combined deposit of $10,000 with Intrust Bank. This covers all your checking, savings and money market accounts as well as the principal on your CD and/or IRA.

A quick note on ATM reimbursements. These will be reported to the IRS as interest earnings. And fees will be credited to your account as a lump sum when the statement period ends. 

Intrust Elite Checking

Intrust Elite Checking stands as the bank’s premier checking option. And it may suit the more affluent. This account generates interest and provides you with unlimited ATM fee refunds. So if you’re tired of those piling up, this account will reimburse you. However, it does charge a substantially high $30 monthly service fee. Luckily, the bank waives it if you meet the following requirements.

• Maintain a combined deposit account balance of at least $100,000
• Have a qualifying Intrust Wealth account

In addition, this account comes with unlimited free personal checks in any design offered by the bank as well as cashier’s checks. 

Nonetheless, the Intrust Elite Checking account doesn’t offer the strongest rates around. You may find higher APYs and features by checking out the best checking accounts we’ve explored in the market today.

Branch Locations

Intrust Bank runs more than 40 branches throughout Kansas, where it planted its roots more than a century ago. You can reach a customer service representative by dialing 316-383-1234 or 800-895-2265.

Financial Statistics & Bank Health Rating

Intrust Bank has $7.14 billion in assets and $3.98 billion in loans, according to the FDIC. It also holds onto $6.53 billion deposits. If you’re considering contributing to those deposits, a good representation of any bank’s reliability is its Texas Ratio, an industry-recognized metric. Any bank with one that dips below 5% is deemed as excellent. Luckily, Intrust Bank boasts a noteworthy ratio of 1.02%. 

Note: These rates are subject to change. Contact your local branch for the latest information.