MetaBank first started operating in 1954 with headquarters located in Sioux Falls, South Dakota. MetaBank manages assets totaling $5 billion as well as deposits totaling $4 billion, making it a large bank. MetaBank does not have the access to customer service other banks offer. It is a conventional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile presence. At a SmartAsset rating of 4.3 out of 5 stars, MetaBank should be solidly in contention for your choice of bank.
MetaBank has a full array of banking products, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. MetaBank has a fair savings rate, which means other popular banks have higher rates. Perfect for basic banking needs, MetaBank's ordinary checking account does not have a monthly fee. Why have checking and savings accounts with one bank? Fast transferring of funds between both accounts translates to better interest rates in your savings account with the ability to spend from your checking.
MetaBank is a brick-and-mortar bank, with 11 total bank locations in Iowa and South Dakota. It also offers access to mobile and web apps for straightforward access and banking on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. CT.
MetaBank's online and mobile banking platforms get positive scores from users: out of 200 ratings across Apple and Android platforms, the MetaBank mobile app rates a 4.1 out of 5 (compared to the national average of 3.8). MetaBank's mobile app allows you to manage your finances by reviewing account balances, sending and receiving money and reaching support representatives. MetaBank receives an exceptional consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Accounts||0.15% APY||$50||Compare Offers|
|Certificates of Deposit|| ||$10,000 for all tiers||Compare Offers|
|Money Market Accounts|| || ||Compare Offers|
MetaBank has several deposit products including savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. MetaBank 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. MetaBank's CD rates are competitive compared to the national average.
With a savings rate of 0.15%, MetaBank ranks below the mean as compared against the national average. Its one-year CD earns at a rate of 0.2.00% and the five-year CD earns at a rate of 2.41%, while its highest-yielding money market account earns at a rate of 0.20%. MetaBank has a fair savings rate, which means you can find higher rates with other banks. Consider looking elsewhere to open savings accounts.
Compare MetaBank to Other Competitive Offers
On average, MetaBank charges its customers extremely low fees in comparison to the average U.S. bank. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. For those who will need cash in a pinch, MetaBank is perfect because it has no ATM fees.
MetaBank is currently a large bank with $5 billion in assets and deposits totaling $4 billion. It has a very good Texas Ratio of 6.25%, suggesting that the bank is in good financial condition and far from failure. Additionally, MetaBank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.
Find a MetaBank Near Me
MetaBank has 11 branches in the U.S.