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The Bank of Missouri Review

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The Bank of Missouri Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Bank of Missouri was founded in 1891 with headquarters located in Perryville, Missouri. It owns assets of $1 billion along with deposits totaling $1 billion, ranking it as a medium-size bank. The Bank of Missouri lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 4.4 stars out of 5, The Bank of Missouri should be solidly in contention for your choice of bank. The Bank of Missouri offers a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products 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 of Missouri offers an option without a maintenance or monthly fee. Obtaining a checking account with no monthly fee and a savings account with a high interest rate at the same institution is the best option for gaining the most income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.9
SmartAsset Average: 3.5

With a savings rate of 0.10%, The Bank of Missouri ranks poorly in comparison to the average U.S. bank. The Bank of Missouri's CDs feature a rate of 1.76% and 1.01% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.10%. Given its below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How The Bank of Missouri's Savings Rates Compare

The Bank of Missouri Savings 0.10 National Average 0.26 Compare Offers
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Fees

4.8
SmartAsset Average: 4.4

The Bank of Missouri charges its customers extremely low fees in comparison to the national average. With no monthly fee, The Bank of Missouri's checking account is perfect for those who need a hassle-free banking experience. Additionally, The Bank of Missouri has an overdraft fee of $30.89, which is lower than the average U.S. overdraft fee. The Bank of Missouri doesn't refund out-of-network ATM charges, meaning you will be required to locate a The Bank of Missouri ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.89 National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

The Bank of Missouri is a brick-and-mortar bank, with 35 total bank locations in Missouri. With mobile and web apps, The Bank of Missouri makes account access easy, even on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 11:00 p.m. CT; Saturday, 8:00 a.m. to 5:00 p.m. CT; Sunday, and 9:00 a.m. to 5:00 p.m. CT. The Bank of Missouri's online and mobile banking services get relatively high praise from customers. With 85 customer reviews on Apple and Android platforms, the The Bank of Missouri mobile app is scored at 4.2 out of 5 (compared to the national average of 3.8). The Bank of Missouri's mobile app lets you control your funds by checking account balances, sending and receiving money as well as reaching support representatives. The Bank of Missouri gets a superb 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 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

The Bank of Missouri is currently a medium-size bank owning assets totaling $1 billion as well as $1 billion in deposits. The Bank of Missouri has an excellent Texas Ratio of 3.74%, suggesting that the bank is in terrific financial condition and far from failure. Additionally, The Bank 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

3.74%
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 The Bank of Missouri to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 1.76% APY
  • 24 Month: 2.26% APY
  • 36 Month: 1.01% APY
  • 48 Month: 1.01% APY
  • 60 Month: 1.01% APY
$500 for all terms
Money Market Account 0.07% APY $1

The Bank of Missouri has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The Bank of Missouri does not have the best savings rate, which means you should consider 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. The Bank of Missouri's CD rates are fair as compared against the national average.

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Find a The Bank of Missouri Near Me

The Bank of Missouri has 35 locations in the U.S.

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