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Metro City Bank Review

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Metro City Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 2006, Metro City Bank has assets totaling $1 billion as well as $1 billion in deposits, which makes it a medium-size bank. Metro City Bank, whose headquarters are in Doraville, Georgia, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With an average 3.6 stars out of 5, Metro City Bank is a bank with better alternatives. Metro City Bank provides customers with a varied choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. The bank's standard checking account features a monthly fee of $7.50, which places it at the higher end of monthly fees. Locating an institution with no-fee checking and a high savings APY is your best bet for getting the highest income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.6/5
National Average: 4.1

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

Rates

3.3
SmartAsset Average: 3.5

With a savings rate of 0.10%, Metro City Bank ranks poorly compared to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 2.55% and 1.24%, respectively, while its highest-yielding money market account earns at an APY of 1.00%. Given Metro City Bank's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Metro City Bank's Savings Rates Compare

Metro City Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

On average, Metro City Bank charges its customers high fees compared to the average U.S. bank. At $7.50 per month, Metro City Bank is less than ideal for people who want a basic checking account. Metro City Bank does not refund out-of-network ATM charges, meaning you'll be required to search for a Metro City Bank ATM or eat the cost of withdrawal.

Monthly Fee $7.50 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.2
SmartAsset Average: 3.7

Metro City Bank is a brick-and-mortar bank, with 16 total bank locations in Alabama, Georgia, New Jersey, New York, Texas and Virginia. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Metro City Bank gets high marks from customers for its mobile banking services. The Metro City Bank mobile app has an overall rating of 4.5 out of 5 (out of 15 customer reviews on Apple and Android) compared to the national average of 3.8. You can use Metro City Bank's app to control your funds by monitoring current statements, sending and receiving money as well as accessing customer service. Metro City Bank gets a superb consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Metro City Bank ranks as a medium-size bank with assets totaling $1 billion and $1 billion in deposits. Metro City Bank has an excellent Texas Ratio of 3.60%, signifying that Metro City Bank is in terrific financial shape and unlikely to fail. Additionally, Metro City Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.6%
High Risk 75% 50% 20% 10% Low Risk

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 Metro City Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $250
Checking Account 0.1% APY $500
Certificates of Deposit
  • 12 Month: 2.55% APY
  • 24 Month: 0.82% APY
  • 36 Month: 0.94% APY
  • 48 Month: 1.04% APY
  • 60 Month: 1.24% APY
$1000 for all terms
Money Market Accounts 0.5% APY 1.0% APY $10000 $15000

Metro City Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Metro City Bank does not have the best savings rate, which means you should think about other options 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. Metro City Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Metro City Bank Near Me

Metro City Bank has 16 physical branches in the U.S.

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