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

Select Bank & Trust Company Review

Your Details Done
by Updated
Select Bank & Trust Company Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 2000, Select Bank & Trust Company has assets totaling $1 billion as well as $1 billion in deposits, classifying the institution as a medium-size bank. Select Bank & Trust Company, whose headquarters are in Dunn, North Carolina, has above-average customer service access with all-day support available, great for getting help during the work week. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a commendable 4.3 stars out of 5, Select Bank & Trust Company is a great choice and should warrant serious consideration. Select Bank & Trust Company has a full array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's most basic checking does not carry a monthly maintenance fee. Institutions that offer no-fee checking as well as a high interest rate savings account are your best bet for accruing the most income from your deposits alongside convenient access to your money.

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

3.1
SmartAsset Average: 3.5

Select Bank & Trust Company has a savings rate of 0.20%, which is poor compared to the national average. Its one-year CD earns at a rate of 0.01% and the five-year CD has a rate of 0.65%, while its highest-yielding money market account earns at an APY of 0.20%. Given its noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How Select Bank & Trust Company's Savings Rates Compare

Select Bank & Trust Company Savings 0.20 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

Select Bank & Trust Company charges its customers extremely low fees in comparison to the national average. With no monthly fee, Select Bank & Trust Company is ideal for people who want a simple checking account. Select Bank & Trust Company does not refund out-of-network ATM fees, which means you will be required to find a Select Bank & Trust Company 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
Back to Overview

Service Quality

4.3
SmartAsset Average: 3.7

Select Bank & Trust Company is a brick-and-mortar bank, with 18 total branches in North Carolina and South Carolina. It also offers access to mobile and web apps for an easy mobile-banking experience. It has access to all-day access to representatives. Select Bank & Trust Company receives reasonably high marks from users for its mobile app. Out of 20 customer reviews on Apple and Android platforms, the Select Bank & Trust Company mobile app rates a 4.2 out of 5 (compared to the national average of 3.8). You can use Select Bank & Trust Company's mobile app to control your finances by monitoring current statements, sending and receiving money as well as reaching customer service. Select Bank & Trust Company receives an exceptional consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.9
SmartAsset Average: 4.8

Select Bank & Trust Company is currently a medium-size bank and handles assets totaling $1 billion as well as $1 billion in deposits. It has an excellent Texas Ratio of 3.07%, signifying a negligible chance of failure. Additionally, Select Bank & Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.07%
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 Select Bank & Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1000
Checking Account 0.01% APY $100
Certificates of Deposit
  • 12 Month: 0.01% APY
  • 24 Month: 0.30% APY
  • 36 Month: 0.45% APY
  • 48 Month: 0.55% APY
  • 60 Month: 0.65% APY
$10000 for all terms
Money Market Account 0.2% APY $10000

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

Back to Overview

Find a Select Bank & Trust Company Near Me

Select Bank & Trust Company has 18 physical 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