Loading
Tap on the profile icon to edit
your financial details.

Wallis State Bank Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Wallis State Bank Savings
0.35% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1972, Wallis State Bank has $626 million in assets along with $528 million in deposits, making the institution a medium-size bank. Wallis State Bank, whose headquarters are in Wallis, Texas, 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 in-person service, in addition to its online and mobile offerings. Overall, Wallis State Bank is among the top banks, and should be given serious consideration, with a score of 4.5 out of 5 stars from the SmartAsset team. Wallis State Bank has a complete selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. Wallis State Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Wallis State Bank offers an option without a maintenance or monthly fee. Institutions that offer free checking, in addition to a high interest rate savings account are the best option for getting the highest income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

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

Rates

4.2
SmartAsset Average: 3.5

With a savings rate of 0.35%, Wallis State Bank ranks poorly compared to other U.S. banks. Wallis State Bank's one-year and five-year term lengths CDs earn at a rate of 1.55% and 2.06%, respectively, while its highest-yielding money market account earns at a rate of 0.75%. Given Wallis State Bank's poor savings rate, you should consider taking a look at other banks for savings accounts.

How Wallis State Bank's Savings Rates Compare

Wallis State Bank Savings 0.35 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

Wallis State Bank charges customers extremely low fees compared to the average U.S. bank. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. Wallis State Bank doesn't reimburse out-of-network ATM fees, meaning you will be required to locate a Wallis State Bank ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

3.6
SmartAsset Average: 3.7

Wallis State Bank is a brick-and-mortar bank, with 11 total bank locations in California and Texas. It also offers access to mobile and web apps for easy access and banking on the go. Wallis State Bank receives poor marks from customers for its mobile platform. The Wallis State Bank mobile app has been given a 3.3 out of 5 (out of 15 ratings on iOS and Android) compared to the national average of 3.8. Wallis State Bank's mobile app lets you control your bank accounts by reviewing current statements, transferring money and accessing customer service. Wallis State Bank receives an outstanding consumer satisfaction rating based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

5.0
SmartAsset Average: 4.8

Wallis State Bank is a medium-size bank with assets totaling $626 million as well as deposits totaling $528 million. Wallis State Bank's Texas Ratio is 1.50%, signifying that Wallis State Bank is in terrific financial health and unlikely to fail. Additionally, Wallis State 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 Wallis State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.35% APY $1
Checking Account 0.3% APY $1500
Certificates of Deposit
  • 12 Month: 1.55% APY
  • 24 Month: 1.81% APY
  • 36 Month: 1.91% APY
  • 48 Month: 1.96% APY
  • 60 Month: 2.06% APY
$2500 for all terms
Money Market Accounts 0.75% APY 0.75% APY $10000 $15000

Wallis State Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Wallis State Bank does not have the best savings rate, which means you should consider 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. Wallis State Bank's CD rates are fair compared to other U.S. banks.

Back to Overview

Find a Wallis State Bank Near Me

Wallis State Bank has 11 physical branches in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure