Inwood National Bank Review

Inwood National Bank Savings

0.05% APY

Established in 1964, Inwood National Bank has $3 billion in assets and deposits totaling $2 billion, classifying the institution as a large bank. Inwood National Bank, whose headquarters are in Dallas, Texas, lacks premium access to customer service, with no options of 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. SmartAsset has rated Inwood National Bank 3.5 stars out of 5, indicating that it is a decent choice, but with better options out there. 

Inwood National Bank has a complete suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. Inwood National Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account carries a monthly fee of $10.00, which may be better for customers that will always carry a large balance. Using one bank for checking and savings can be ideal when you want to get the highest return on your money while maintaining access to your funds without getting penalized for withdrawing.

Service Quality

Inwood National Bank is a brick-and-mortar bank, with 14 total bank locations in Texas. It also offers access to mobile and web apps for straightforward access and banking on the go.  

Inwood National Bank's online and mobile banking services get poor scores from users: with 34 customer reviews across both iOS and Android platforms, the Inwood National Bank mobile app is scored at 3.3 out of 5 (compared to the national average of 3.8). You can access Inwood National Bank's mobile app to manage your finances by monitoring monthly statements, sending and receiving money as well as reaching support representatives. Inwood National Bank receives an excellent consumer satisfaction rating due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency. 

Products Offered

Inwood National Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs, giving you many options to manage your money. Inwood National Bank does not have the best savings rate, which means you should consider other options for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Inwood National Bank's CD rates are competitive as compared against the national average.

Rates

With a savings rate of 0.05%, Inwood National Bank ranks below the mean as compared against the national average. Its CD rates are 0.10% and 0.50% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.05%. Given its poor savings rate, you should consider looking elsewhere to open savings accounts.

Fees

Inwood National Bank charges customers high fees as compared against the national average. At $10.00/month, Inwood National Bank is not ideal for people who want a simple banking experience. 

Financial Health

Inwood National Bank is currently a large bank with assets totaling $3 billion and deposits totaling $2 billion. Its Texas Ratio is 0.26%, suggesting that the bank is in superb financial well-being and extremely improbable to fail. Additionally, Inwood National Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find an Inwood National Bank Near Me

Inwood National Bank has 14 locations in the U.S.