Marquis Bank first started operating in 2007 with headquarters located in Coral Gables, Florida. It has $539 million in assets as well as deposits totaling $446 million, classifying it as a medium-size bank. Marquis Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. We gave the bank a 3.2 stars out of 5, suggesting Marquis Bank is a fair bank that might not check all the boxes. Marquis Bank has a varied choice of banking products, including savings accounts, checking accounts, money market accounts, CDs and IRAs. It has a fair savings rate compared to the average savings account. The bank's standard checking product features a monthly fee of $15.00, making it a rather expensive bank for checking. Banks that offer no-fee checking and a high interest rate savings account are the best option for accruing the most income on your deposits while maintaining easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.20%, Marquis Bank ranks poorly in comparison to the national average. Marquis Bank's one-year CD has a rate of 1.20% and the five-year CD earns at a rate of 3.00%, while its highest-yielding money market account has a rate of 0.15%. Given its poor savings rate, you should consider other options to earn more on your deposits.
How Marquis Bank's Savings Rates Compare
Marquis Bank charges customers high fees compared to other U.S. banks. At $15.00/month, Marquis Bank's checking account is not ideal for those who want a hassle-free banking experience. Marquis Bank unfortunately does not refund out-of-network ATM fees, which means you will be required to locate a Marquis Bank ATM or pay the fee.
Marquis Bank is a brick-and-mortar bank, with two total branches in Florida. It also offers access to mobile and web apps for straightforward access and banking on the go. Marquis Bank's online and mobile banking services receive poor scores from customers. The Marquis Bank mobile app rates a 1.0 out of 5 (with 1 ratings on iOS and Android) compared to the national average of 3.8. Marquis Bank's mobile app lets you control your accounts by reviewing account balances, sending and receiving money as well as accessing customer service. Marquis Bank gets a superb consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
Marquis Bank ranks as a medium-size bank and handles assets totaling $539 million as well as $446 million in deposits. Its Texas Ratio is 4.37%, signifying a low possibility of failure. Additionally, Marquis 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.Back to Overview
Compare Marquis Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.2% APY||$100|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.15% APY 0.15% APY||$10000 $15000|
Marquis Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Marquis Bank does not have the best savings rate, which means you should consider 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. Marquis Bank's CD rates are fair compared to other U.S. banks.Back to Overview
Find a Marquis Bank Near Me
Marquis Bank has two physical branches across the U.S.Back to Overview