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.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
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 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.
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.
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
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
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.2% APY||$1000|
|Checking Account||0.01% APY||$100|
|Certificates of Deposit|| ||$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