The Callaway Bank started in 1857 with headquarters located in Fulton, Missouri. It handles assets of $368 million and $288 million in deposits, which makes it a small bank. The Callaway Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Overall, The Callaway Bank is a good bank that deserves your consideration, with a score of 4.0 out of 5 stars from the SmartAsset team. The Callaway Bank offers a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, The Callaway Bank's standard checking does not have a monthly maintenance fee. Locating a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is the best option for gaining the most income from your deposits while maintaining convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.07%, The Callaway Bank ranks poorly as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.30% and 0.90%, respectively, while its highest-yielding money market account has a rate of 0.07%. Given its poor savings rate, you should consider looking at the competition to open savings accounts.
How The Callaway Bank's Savings Rates Compare
The Callaway Bank has typically extremely low fees compared to the average U.S. bank. With no monthly fee, The Callaway Bank is ideal for those who want a basic checking account. Additionally, it has an overdraft fee of $32.50, which is less than the average overdraft fee charged by U.S. banks. The Callaway Bank unfortunately does not refund out-of-network ATM fees, which means you'll need to locate a The Callaway Bank ATM or accept the ATM charge.
The Callaway Bank is a brick-and-mortar bank, with eight total branches in Missouri. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not have all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 7:30 a.m. to 6:00 p.m. CT; Saturday, and 9:00 a.m. to 12:00 p.m. CT. The Callaway Bank receives average reviews from users for its mobile app. Out of 33 ratings across Apple and Android platforms, the The Callaway Bank mobile app is scored at 3.8 out of 5 (compared to the national average of 3.8). The Callaway Bank's mobile app allows you to manage your accounts by monitoring monthly statements, sending and receiving funds as well as reaching customer service. The Callaway Bank receives a superb consumer satisfaction rating based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
The Callaway Bank is currently a small bank with $368 million in assets and $288 million in deposits. Its Texas Ratio is 13.67%, indicating a tiny possibility of failure. Additionally, The Callaway Bank 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 The Callaway Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.07% APY||$1|
|Checking Account||0.07% APY||$2500|
|Certificates of Deposit|| ||$10000 for all terms|
|Money Market Account||0.07% APY||$1000|
The Callaway Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The Callaway Bank 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 Callaway Bank's CD rates are fair compared to the average U.S. bank.Back to Overview
Find a The Callaway Bank Near Me
The Callaway Bank has eight locations in the U.S.Back to Overview