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Midwest BankCentre Review

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Midwest BankCentre Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Midwest BankCentre started in 1906 with headquarters located in Lemay, Missouri. It has assets of $2 billion and $1 billion in deposits, making it a large bank. Midwest BankCentre lacks premium access to support representatives, with no options for 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 offerings. Overall, Midwest BankCentre is a great choice and should warrant serious consideration, with a score of 4.3 stars out of 5 from our team. Midwest BankCentre offers a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Midwest BankCentre has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Midwest BankCentre offers an option without a maintenance or monthly fee. Locating an institution with no-fee checking as well as a high interest rate savings account is the best option for gaining the most income on your deposits alongside 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

With a savings rate of 0.25%, Midwest BankCentre ranks poorly in comparison to the national average. Its CD rates are 1.00% and 1.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.25%. Given its below average savings rate, you should think about looking elsewhere to open savings accounts.

How Midwest BankCentre's Savings Rates Compare

Midwest BankCentre Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Midwest BankCentre charges its customers extremely low fees compared to the average U.S. bank. With no monthly fee, Midwest BankCentre is perfect for people who want a simple checking account. For those who will need cash in a pinch, it is perfect because it has no out-of-network ATM fees. Midwest BankCentre doesn't refund out-of-network ATM charges, which means you will need to find a Midwest BankCentre ATM or accept the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Midwest BankCentre is a brick-and-mortar bank, with 19 total bank locations in Missouri. It also offers access to mobile and web apps for a simple mobile-banking experience. Midwest BankCentre gets inferior marks from users for its mobile platform. With 34 customer reviews across both iOS and Android platforms, the Midwest BankCentre mobile app has an overall rating of 3.3 out of 5 (compared to the national average of 3.8). Midwest BankCentre's mobile app allows you to manage your finances by monitoring account balances, sending and receiving funds as well as reaching customer service. Midwest BankCentre gets a superb consumer satisfaction score based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Midwest BankCentre ranks as a large bank owning $2 billion in assets and deposits totaling $1 billion. Midwest BankCentre has a strong Texas Ratio of 6.33%, denoting that Midwest BankCentre is in good financial condition and improbable to fail. Additionally, Midwest BankCentre is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Midwest BankCentre to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $2500
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.25% APY
  • 48 Month: 1.25% APY
  • 60 Month: 1.75% APY
$1 for all terms
Money Market Account 0.25% APY $25000

Midwest BankCentre has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Midwest BankCentre does not have the best savings rate, which means you should consider looking 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. Midwest BankCentre's CD rates are fair in comparison to other U.S. banks.

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Find a Midwest BankCentre Near Me

Midwest BankCentre has 19 physical locations in the U.S.

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