Loading
Tap on the profile icon to edit
your financial details.

Royal Banks of Missouri Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Royal Banks of Missouri Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1965, Royal Banks of Missouri has assets totaling $713 million and $603 million in deposits, ranking the institution as a medium-size bank. Royal Banks of Missouri, whose headquarters are in University City, Missouri, lacks premium access to support representatives, 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 apps. Overall, Royal Banks of Missouri is a great bank that you should seriously consider, with a score of 4.3 stars out of 5 from the SmartAsset team. Royal Banks of Missouri offers a full array of banking products, including 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 looking for a checking account for everyday use, Royal Banks of Missouri's standard checking account does not have a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is your best option for returning the most income on your deposits while having 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

Royal Banks of Missouri has a savings rate of 0.25%, which is fair as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 2.22% and 2.22%, respectively, while its highest-yielding money market account has a rate of 0.85%. Given its below average savings rate, you should think about 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
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

On average, Royal Banks of Missouri charges its customers extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Royal Banks of Missouri refunds their out-of-network ATM fees (with conditions), making withdrawals a free and convenient 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
Back to Overview

Service Quality

3.4
SmartAsset Average: 3.7

Royal Banks of Missouri is a brick-and-mortar bank, with 12 total branches in Missouri. With mobile and web apps, Royal Banks of Missouri makes mobile banking straightforward, even on the go. Royal Banks of Missouri receives poor feedback from customers for its online presence. Out of 2 ratings on Apple and Android platforms, the Royal Banks of Missouri mobile app has an overall rating of 3.0 out of 5 (compared to the national average of 3.8). You can use Royal Banks of Missouri's app to control your bank accounts by checking current statements, sending and receiving money as well as accessing customer service. Royal Banks of Missouri receives an excellent consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.6
SmartAsset Average: 4.8

Royal Banks of Missouri ranks as a medium-size bank with $713 million in assets as well as deposits totaling $603 million. Its Texas Ratio is 8.94%, indicating that the bank is in fine financial health and unlikely to fail. 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.

Back to Overview

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 Accounts 0.75% APY 0.85% APY $10000 $15000

Royal Banks 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. Royal Banks of Missouri 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. Royal Banks of Missouri's CD rates are fair in comparison to other U.S. banks.

Back to Overview

Find a Royal Banks of Missouri Near Me

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

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure