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Royal Banks of Missouri Review

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Royal Banks of Missouri Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Royal Banks of Missouri was founded in 1965 with headquarters located in University City, Missouri. It has assets of $713 million and deposits totaling $603 million, making it a medium-size bank. Royal Banks of Missouri lacks premium access to support representatives, with no live chat or all-day service options available. 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 score of 4.3 out of 5 stars, Royal Banks of Missouri should be solidly in contention for your choice of bank. Royal Banks of Missouri provides customers with a complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Royal Banks of Missouri offers an option without a monthly fee. Using an institution with free checking and a high savings APY is the best option for gaining the highest income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

4.3
SmartAsset Average: 3.5

With a savings rate of 0.25%, Royal Banks of Missouri ranks poorly compared to the average U.S. bank. Royal Banks of Missouri's CDs feature a rate of 2.22% and 2.22% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.85%. Given its noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.

How Royal Banks of Missouri's Savings Rates Compare

Royal Banks of Missouri Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Royal Banks of Missouri has generally extremely low fees in comparison to the national average. With no monthly fee, Royal Banks of Missouri is perfect for those who want a simple banking experience. Royal Banks of Missouri refunds their out-of-network ATM fees (with conditions), making getting cash a free and simple process.

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

3.4
SmartAsset Average: 3.7

Royal Banks of Missouri is a brick-and-mortar bank, with 12 total bank locations in Missouri. With mobile and web apps, Royal Banks of Missouri makes account access easy, even on the go. Royal Banks of Missouri's online and mobile banking services get mediocre scores from customers. With 2 ratings on iOS and Android platforms, the Royal Banks of Missouri mobile app rates a 3.0 out of 5 (compared to the national average of 3.8). Royal Banks of Missouri's mobile app lets you manage your accounts by reviewing account balances, sending and receiving money and reaching customer service. Royal Banks of Missouri gets an excellent consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Royal Banks of Missouri ranks as a medium-size bank and manages assets totaling $713 million and $603 million in deposits. Royal Banks of Missouri has a strong Texas Ratio of 8.94%, suggesting a small likelihood of failure. Additionally, Royal Banks 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

8.94%
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 Royal Banks of Missouri to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $100
Checking Account 0.25% APY $1000
Certificates of Deposit
  • 12 Month: 2.22% APY
  • 24 Month: 2.57% APY
  • 36 Month: 2.83% APY
  • 48 Month: 1.91% APY
  • 60 Month: 2.22% APY
$1000 for all terms
Money Market Account 0.75% APY $10000

Royal Banks of Missouri has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Royal Banks 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. Royal Banks of Missouri's CD rates are fair compared to other U.S. banks.

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Find a Royal Banks of Missouri Near Me

Royal Banks of Missouri has 12 branches in the U.S.

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