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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

Started in 1933, Security Bank of Kansas City has $3 billion in assets and $2 billion in deposits, 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 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. We gave the bank a 4.2 stars out of 5, which means Security Bank of Kansas City is a solid contender in your bank search. Security Bank of Kansas City offers a complete selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Security Bank of Kansas City has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, the bank's standard checking account does not carry a monthly charge. Banks that offer free checking and a high interest rate savings account are your best bet for gaining the most 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

3.1
SmartAsset Average: 3.5

Security Bank of Kansas City features a savings rate of 0.15%, which is fair as compared against the national average. Its one-year CD earns at a rate of 0.45% and the five-year CD earns at a rate of 1.15%, while its highest-yielding money market account earns at an APY of 0.65%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

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 charges its customers extremely low fees compared to the national average. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. Security Bank of Kansas City does not reimburse out-of-network ATM charges, which means you will need to locate a Security Bank of Kansas City ATM or accept the ATM charge.

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 straightforward access and banking on the go. It does not provide access to all-day customer service with representatives. You can get help during its customer service 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's online and mobile banking platforms receive fair marks from customers. Out of 59 customer reviews on iOS and Android platforms, the Security Bank of Kansas City mobile app has an overall rating of 3.7 out of 5 (compared to the national average of 3.8). You can use Security Bank of Kansas City's mobile app to manage your accounts by monitoring current statements, sending and receiving money and reaching support representatives. Security Bank of Kansas City receives an exceptional consumer satisfaction rating based on relatively few complaints filed with 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 is currently a large bank with $3 billion in assets as well as deposits totaling $2 billion. Its Texas Ratio is 7.73%, indicating that the bank is in fine financial condition and far from 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 0.5% APY $10000

Security Bank of Kansas City has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Security Bank of Kansas City 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. Security Bank of Kansas City's CD rates are fair in comparison to the average U.S. bank.

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Find a Security Bank of Kansas City Near Me

Security Bank of Kansas City has 42 physical locations across the U.S.

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