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Tradition Capital Bank Review

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Tradition Capital Bank Money Market
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Tradition Capital Bank first started operating in 2005 with its headquarters in Edina, Minnesota. Tradition Capital Bank owns $662 million in assets along with deposits totaling $546 million, making it a medium-size bank. Tradition Capital Bank lacks premium access to support representatives, 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 offerings. SmartAsset experts rated the bank 4.1 out of 5 stars, which means Tradition Capital Bank is a good bank that deserves your consideration. Tradition Capital Bank offers an array product offerings, which include savings accounts, checking accounts, money market accounts, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. Institutions that offer free checking, in addition to a high savings APY are the best bet for gaining the most income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

4.9
SmartAsset Average: 3.5

Tradition Capital Bank's one-year CD has a rate of 1.80% and the five-year CD has a rate of 2.50%, while its highest-yielding money market account has an APY of 0.20%.

How Tradition Capital Bank's Savings Rates Compare

Tradition Capital Bank Money Market 0.20 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Tradition Capital Bank's fees to provide a full SmartAsset rating.

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

2.5
SmartAsset Average: 3.7

Tradition Capital Bank is a brick-and-mortar bank, with two total bank locations in Minnesota. It also offers access to mobile and web apps for straightforward access and banking on the go. You can utilize Tradition Capital Bank's mobile app to control your bank accounts by reviewing current statements, sending and receiving funds as well as reaching customer service. Tradition Capital Bank receives a superb consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating NR
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

Tradition Capital Bank is a medium-size bank owning $662 million in assets and deposits totaling $546 million. Its Texas Ratio is 4.57%, denoting that Tradition Capital Bank is in superb financial condition and improbable to fail. Additionally, Tradition Capital Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.57%
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 Tradition Capital Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.80% APY
  • 24 Month: 2.10% APY
  • 36 Month: 2.25% APY
  • 48 Month: 2.40% APY
  • 60 Month: 2.50% APY
$100 for all terms
Money Market Account 0.2% APY $10000

Tradition Capital Bank has several deposit products like savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Tradition Capital 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. Tradition Capital Bank's CD rates are fair in comparison to the national average.

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Find a Tradition Capital Bank Near Me

Tradition Capital Bank has two physical branches in the U.S.

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