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National Bank of Commerce Review

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National Bank of Commerce Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

National Bank of Commerce was founded in 2004 with headquarters in Birmingham, Alabama. It handles $3 billion in assets along with deposits totaling $2 billion, ranking it as a large bank. National Bank of Commerce 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 access to service representatives at a physical location, in addition to its online and mobile offerings. With a commendable 4.4 out of 5 stars, National Bank of Commerce proves it is a great bank that you should seriously consider. National Bank of Commerce has a full array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, National Bank of Commerce offers an option without a maintenance or monthly fee. Finding a checking account with no monthly fee and a savings account with a high APY at the same institution is the best option for getting the most income on your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

3.8
SmartAsset Average: 3.5

National Bank of Commerce features a savings rate of 0.25%, which is fair compared to other U.S. banks. National Bank of Commerce's one-year CD has a rate of 1.66% and the five-year CD earns at a rate of 2.43%, while its highest-yielding money market account has an APY of 0.60%. Given National Bank of Commerce's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How National Bank of Commerce's Savings Rates Compare

National Bank of Commerce Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

National Bank of Commerce generally has extremely low fees in comparison to other U.S. banks. With no monthly fee, National Bank of Commerce is ideal for people who want a basic banking experience. National Bank of Commerce unfortunately doesn't reimburse out-of-network ATM fees, which means you will need to locate a National Bank of Commerce ATM or accept the cost of withdrawal.

Monthly Fee $0 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

3.6
SmartAsset Average: 3.7

National Bank of Commerce is a brick-and-mortar bank, with 32 total bank locations in Alabama, Florida and Georgia. With mobile and web apps, National Bank of Commerce makes mobile banking straightforward, even on the go. National Bank of Commerce's online and mobile banking platforms get mediocre scores from customers. The National Bank of Commerce mobile app has an overall rating of 3.4 out of 5 (out of 17 reviews on iOS and Android) compared to the national average of 3.8. You can access National Bank of Commerce's mobile app to control your accounts by reviewing monthly statements, transferring money and accessing customer service. National Bank of Commerce receives a superb consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

National Bank of Commerce ranks as a large bank owning $3 billion in assets as well as $2 billion in deposits. It has an excellent Texas Ratio of 1.12%, indicating a low likelihood of failure. Additionally, National Bank of Commerce 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 National Bank of Commerce to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.4% APY $1
Certificates of Deposit
  • 12 Month: 1.66% APY
  • 24 Month: 2.02% APY
  • 36 Month: 2.12% APY
  • 48 Month: 2.12% APY
  • 60 Month: 2.43% APY
$1000 for all terms
Money Market Account 0.5% APY $10000

National Bank of Commerce has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. National Bank of Commerce 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. National Bank of Commerce's CD rates are fair in comparison to other U.S. banks.

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Find a National Bank of Commerce Near Me

National Bank of Commerce has 32 physical locations across the U.S.

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