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Security Bank of Kansas City Review

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Security Bank of Kansas City Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1933, Security Bank of Kansas City has assets totaling $3 billion and deposits totaling $2 billion, which makes the institution a large bank. Security Bank of Kansas City, whose headquarters are in Kansas City, Kansas, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 4.2 stars out of 5, Security Bank of Kansas City should be solidly in contention for your choice of bank. Security Bank of Kansas City provides customers with a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Security Bank of Kansas City has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Security Bank of Kansas City's standard checking does not carry a monthly fee. Finding a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best bet for gaining the most income from your deposits while having convenient 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

3.1
SmartAsset Average: 3.5

Security Bank of Kansas City has a savings rate of 0.15%, which is fair compared to the national average. Security Bank of Kansas City's CD rates are 0.45% and 1.15% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.50%. Given its poor savings rate, you should consider looking elsewhere to open savings accounts.

How Security Bank of Kansas City's Savings Rates Compare

Security Bank of Kansas City Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Security Bank of Kansas City typically has extremely low fees compared to the national average. Security Bank of Kansas City's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. Security Bank of Kansas City doesn't refund out-of-network ATM fees, meaning you'll need to find a Security Bank of Kansas City ATM or eat the fee.

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

3.8
SmartAsset Average: 3.7

Security Bank of Kansas City is a brick-and-mortar bank, with 42 total bank locations in Kansas and Missouri. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. CT; Saturday, and 8:00 a.m. to 12:00 p.m. CT. Security Bank of Kansas City gets average reviews from customers for its online presence. The Security Bank of Kansas City mobile app rates a 3.7 out of 5 (out of 59 ratings on iOS and Android) compared to the national average of 3.8. Security Bank of Kansas City's mobile app allows you to manage your finances by checking account balances, transferring money and reaching customer service. Security Bank of Kansas City gets an exceptional consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Security Bank of Kansas City ranks as a large bank and owns $3 billion in assets as well as deposits totaling $2 billion. Security Bank of Kansas City's Texas Ratio is 7.73%, suggesting a tiny possibility of failure. Additionally, Security Bank of Kansas City is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.73%
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 Security Bank of Kansas City to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 0.45% APY
  • 24 Month: 0.65% APY
  • 36 Month: 0.80% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.15% APY
$500 for all terms
Money Market Account 0.3% APY $10000

Security Bank of Kansas City has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Security Bank of Kansas City does not have the best savings rate, which means you should think about 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. Security Bank of Kansas City's CD rates are fair compared to other U.S. banks.

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Find a Security Bank of Kansas City Near Me

Security Bank of Kansas City has 42 physical branches in the U.S.

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