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The Conway National Bank Review

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The Conway National Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1914, The Conway National Bank has assets totaling $1 billion along with deposits totaling $931 million, classifying the institution as a medium-size bank. The Conway National Bank, whose headquarters are in Conway, South Carolina, 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. Overall, The Conway National Bank is a solid contender in your bank search, with a rating of 4.2 out of 5 stars from our experts. The Conway National Bank provides customers with a full suite of banking products, which include 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 Conway National Bank's most basic checking account does not have a monthly maintenance fee. Locating a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best option for accruing the most income from your deposits while maintaining easy 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

The Conway National Bank features a savings rate of 0.20%, which is poor in comparison to other U.S. banks. Its one-year CD earns at a rate of 1.90% and the five-year CD earns at a rate of 2.35%, while its highest-yielding money market account has an APY of 0.25%. Given its noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.

How The Conway National Bank's Savings Rates Compare

The Conway National Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

The Conway National Bank has typically low fees compared to other U.S. banks. With no monthly fee, The Conway National Bank's checking account is perfect for those who want a hassle-free banking experience. For those who frequent the ATM, it is good because it charges an out-of-network ATM fee of $1.00, which is good compared to the average U.S. bank. Additionally, at $35.00, The Conway National Bank's overdraft fee is lower than the national average. The Conway National Bank does not refund out-of-network ATM charges, which means you will have to locate a The Conway National Bank ATM or pay 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. It also offers access to mobile and web apps for easy access and banking on the go. The Conway National Bank receives moderate marks from customers for its mobile platform. Out of 58 ratings across both iOS and Android platforms, the The Conway National Bank mobile app rates a 3.5 out of 5 (compared to the national average of 3.8). The Conway National Bank's mobile app lets you manage your bank accounts by looking at monthly statements, transferring funds as well as accessing customer service. The Conway National Bank receives an exceptional consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 with assets totaling $1 billion and deposits totaling $931 million. The Conway National Bank's Texas Ratio is 4.99%, indicating a negligible possibility 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 0.2% APY $5
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 1.90% APY
  • 24 Month: 2.00% APY
  • 36 Month: 2.11% APY
  • 48 Month: 2.21% APY
  • 60 Month: 2.35% APY
$500 for all terms
Money Market Account 0.25% APY $10000

The Conway National Bank offers several deposit products like 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 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. The Conway National Bank's CD rates are fair compared to the average U.S. bank.

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Find a The Conway National Bank Near Me

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

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