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Platte Valley Bank of Missouri Review

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Platte Valley Bank of Missouri Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1933, Platte Valley Bank of Missouri has assets totaling $552 million and $461 million in deposits, ranking the institution as a medium-size bank. Platte Valley Bank of Missouri, whose headquarters are in Platte City, Missouri, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. On the whole, Platte Valley Bank of Missouri is a solid pick to be your bank, with a score of 4.2 out of 5 stars from our team. Platte Valley Bank of Missouri has a complete suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Platte Valley Bank of Missouri offers an option without a monthly fee. Institutions that offer free checking and a high interest rate savings account are your best bet for returning the highest income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.05%, Platte Valley Bank of Missouri ranks poorly in comparison to other U.S. banks. Its one-year CD has a rate of 0.30% and the five-year CD earns at a rate of 1.10%, while its highest-yielding money market account has an APY of 0.05%. Given Platte Valley Bank of Missouri's poor savings rate, you should consider looking elsewhere to open savings accounts.

How Platte Valley Bank of Missouri's Savings Rates Compare

Platte Valley Bank of Missouri Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Platte Valley Bank of Missouri has generally extremely low fees in comparison to other U.S. banks. With no monthly fee, Platte Valley Bank of Missouri is ideal for people who want a simple checking account. Platte Valley Bank of Missouri does not refund out-of-network ATM charges, meaning you'll be required to search for a Platte Valley Bank of Missouri ATM or pay 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

4.0
SmartAsset Average: 3.7

Platte Valley Bank of Missouri is a brick-and-mortar bank, with nine total branches in Missouri. With mobile and web apps, Platte Valley Bank of Missouri makes account access convenient, even on the go. Platte Valley Bank of Missouri's online and mobile banking platforms receive moderately high ratings from customers. Out of 74 customer reviews on both iOS and Android platforms, the Platte Valley Bank of Missouri mobile app rates a 4.1 out of 5 (compared to the national average of 3.8). You can use Platte Valley Bank of Missouri's mobile app to manage your accounts by reviewing current statements, sending and receiving funds and reaching customer service. Platte Valley Bank of Missouri receives an excellent consumer satisfaction rating based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.1/5
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

Platte Valley Bank of Missouri is currently a medium-size bank and manages $552 million in assets as well as $461 million in deposits. Platte Valley Bank of Missouri's Texas Ratio is 0.10%, signifying a minute possibility of failure. Additionally, Platte Valley Bank of Missouri 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 Platte Valley Bank of Missouri to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $50
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.30% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.65% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.10% APY
$1000 for all terms
Money Market Account 0.05% APY $25000

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

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Find a Platte Valley Bank of Missouri Near Me

Platte Valley Bank of Missouri has nine branches across the U.S.

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