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The Conway National Bank Review

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The Conway National Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Conway National Bank was founded in 1914 with headquarters located in Conway, South Carolina. It has $1 billion in assets along with $931 million in deposits, making it a medium-size bank. The Conway National Bank lacks premium access to customer service, with no live chat or all-day service options available. 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. With a commendable 4.2 out of 5 stars, The Conway National Bank proves it is a great choice and should warrant serious consideration. The Conway National Bank offers a varied choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's most basic checking account does not have a monthly charge. Banks that offer no-fee checking, in addition to a high interest rate savings account are your best bet for accruing the most income from your deposits while maintaining convenient 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

3.8
SmartAsset Average: 3.5

With a savings rate of 0.15%, The Conway National Bank ranks poorly in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.45% and 1.95%, respectively, while its highest-yielding money market account has an APY of 0.25%. Given The Conway National Bank's below average savings rate, you should think about other options to earn more on your deposits.

How The Conway National Bank's Savings Rates Compare

The Conway National Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

The Conway National Bank typically has low fees in comparison to other U.S. banks. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. For those who withdraw cash routinely, The Conway National Bank is solid because it charges an out-of-network ATM fee of $1.00, which is good compared to other U.S. banks. Additionally, The Conway National Bank has an overdraft fee of $35.00, which is on par with the national average. The Conway National Bank doesn't refund out-of-network ATM charges, which means you will have to find a The Conway National Bank ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

3.7
SmartAsset Average: 3.7

The Conway National Bank is a brick-and-mortar bank, with 16 total branches in South Carolina. With mobile and web apps, The Conway National Bank makes account access easy, even on the go. The Conway National Bank's online and mobile banking services receive fair marks from customers. The The Conway National Bank mobile app scored a 3.5 out of 5 (out of 58 ratings on iOS and Android) compared to the national average of 3.8. The Conway National Bank's mobile app allows you to control your funds by monitoring current statements, transferring money and reaching customer service. The Conway National Bank receives a superb consumer satisfaction rating due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

The Conway National Bank is a medium-size bank and owns assets totaling $1 billion as well as $931 million in deposits. It has an excellent Texas Ratio of 4.99%, indicating a low chance of failure. Additionally, The Conway National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.99%
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 Conway National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $5
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 1.45% APY
  • 24 Month: 1.60% APY
  • 36 Month: 1.71% APY
  • 48 Month: 1.81% APY
  • 60 Month: 1.95% APY
$500 for all terms
Money Market Account 0.25% APY $10000

The Conway National Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The Conway National Bank does not have the best savings rate, which means you should think about looking 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 Conway National Bank's CD rates are fair compared to the national average.

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Find a The Conway National Bank Near Me

The Conway National Bank has 16 locations across the U.S.

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