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MainStreet Bank Review

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MainStreet Bank Money Market
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 2004, MainStreet Bank has $808 million in assets as well as $673 million in deposits, making the institution a medium-size bank. MainStreet Bank, whose headquarters are in Fairfax, Virginia, lacks premium access to customer service, with no live chat or all-day service options available. 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. Coming in at a superb 4.9 stars out of 5, MainStreet Bank is an exceptional bank that you should seriously consider. MainStreet Bank provides customers with a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. Using an institution with free checking and a high savings APY is your best option for accruing the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

Its one-year CD earns at a rate of 1.90% and the five-year CD has a rate of 2.57%, while its highest-yielding money market account has an APY of 0.10%.

How MainStreet Bank's Savings Rates Compare

MainStreet Bank Money Market 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, MainStreet Bank charges customers extremely low fees compared to the national average. Also, MainStreet Bank has an overdraft fee of $25.00, which is considerably less than the average U.S. overdraft fee. MainStreet Bank unfortunately does not reimburse out-of-network ATM fees, which means you will have to search for a MainStreet Bank ATM or accept the withdrawal fee.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $25.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

MainStreet Bank is a brick-and-mortar bank, with five total bank locations in Virginia. With mobile and web apps, MainStreet Bank makes account access easy, even on the go. MainStreet Bank's online and mobile banking services receive high praise from users. The MainStreet Bank mobile app rates a 5.0 out of 5 (out of 2 ratings on Apple and Android) compared to the national average of 3.8. MainStreet Bank's mobile app allows you to control your finances by reviewing monthly statements, transferring money as well as reaching support representatives. MainStreet Bank gets a superb consumer satisfaction rating based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 5.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

MainStreet Bank ranks as a medium-size bank and has assets totaling $808 million and $673 million in deposits. It has an excellent Texas Ratio of 2.45%, indicating a low possibility of failure. Additionally, MainStreet Bank 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.

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Compare MainStreet Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Certificates of Deposit
  • 12 Month: 1.90% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.45% APY
  • 48 Month: 2.50% APY
  • 60 Month: 2.57% APY
$500 for all terms
Money Market Account 0.1% APY $2500

MainStreet 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. MainStreet Bank does not have the best savings rate, which means you should think about taking a look elsewhere 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. MainStreet Bank's CD rates are fair in comparison to other U.S. banks.

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Find a MainStreet Bank Near Me

MainStreet Bank has five locations in the U.S.

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