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Trustmark National Bank Review

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Trustmark National Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Trustmark National Bank first started operating in 1889 and its headquarters are located in Jackson, Mississippi. Trustmark National Bank has $14 billion in assets and $11 billion in deposits, ranking it as a very large bank. Trustmark 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 in-person service, in addition to its online and mobile offerings. At a SmartAsset rating of 3.9 stars out of 5, Trustmark National Bank should be near the middle of the pack in your search for a bank. Trustmark National Bank offers a varied choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Trustmark National Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Trustmark National Bank's standard checking does not carry a monthly maintenance charge. Obtaining a checking account with no monthly fee and a savings account with a high interest rate at the same institution is the best bet for getting the most income from your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

Trustmark National Bank features a savings rate of 0.10%, which is fair compared to the average U.S. bank. Its CDs feature a rate of 0.15% and 1.06% 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 noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How Trustmark National Bank's Savings Rates Compare

Trustmark National Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

3.9
SmartAsset Average: 4.4

Trustmark National Bank has typically above-average fees as compared against the national average. With no monthly fee, Trustmark National Bank's checking account is ideal for those who want an easy banking experience. For those who regularly visit the ATM, Trustmark National Bank is not ideal because it has an out-of-network ATM fee of $2.50, which is not ideal compared to the national average. Also, at $36.00, Trustmark National Bank's overdraft fee is slightly greater than the national average. Trustmark National Bank doesn't refund out-of-network ATM fees, meaning you'll be required to find a Trustmark National Bank ATM or pay the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.50 National Average: $1.20
Overdraft Fee $36.00 National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

Trustmark National Bank is a brick-and-mortar bank, with 218 total bank locations in Alabama, Florida, Mississippi, Tennessee and Texas. With mobile and web apps, Trustmark National Bank makes mobile banking convenient, even on the go. Trustmark National Bank's online and mobile banking services get fairly good feedback from users. The Trustmark National Bank mobile app is rated at 4.2 out of 5 (out of 1,300 ratings on iOS and Android) compared to the national average of 3.8. Trustmark National Bank's mobile app allows you to manage your bank accounts by reviewing monthly statements, sending and receiving money and accessing customer service. Trustmark National Bank receives an excellent consumer satisfaction rating based on 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

4.7
SmartAsset Average: 4.8

Trustmark National Bank is currently a very large bank and handles assets totaling $14 billion as well as $11 billion in deposits. It has a strong Texas Ratio of 6.56%, signifying that Trustmark National Bank is in good financial condition and far from failure. Additionally, Trustmark 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

6.56%
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 Trustmark National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $300
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.15% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.70% APY
  • 60 Month: 1.06% APY
$1000 for all terms
Money Market Account 0.1% APY $1000

Trustmark 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. Trustmark 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. Trustmark National Bank's CD rates are fair in comparison to the national average.

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Find a Trustmark National Bank Near Me

Trustmark National Bank has 218 locations across the U.S.

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