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West Plains Bank and Trust Company Review

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West Plains Bank and Trust Company Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1883, West Plains Bank and Trust Company has assets totaling $387 million as well as $338 million in deposits, making it a small bank. West Plains Bank and Trust Company, whose headquarters are in West Plains, Missouri, lacks premium access to support representatives, 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 apps. With a commendable 4 stars out of 5, West Plains Bank and Trust Company is a good bank that should be given a look. West Plains Bank and Trust Company provides customers with a mixture of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. West Plains Bank and Trust Company has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, West Plains Bank and Trust Company's ordinary checking account does not have a monthly fee. Banks that offer free checking and a high interest rate savings account are the best bet for accruing the highest income on your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

3.4
SmartAsset Average: 3.5

West Plains Bank and Trust Company has a savings rate of 0.10%, which is poor compared to other U.S. banks. Its one-year CD has a rate of 1.15% and the five-year CD earns at a rate of 2.22%, while its highest-yielding money market account has an APY of 0.25%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How West Plains Bank and Trust Company's Savings Rates Compare

West Plains Bank and Trust Company Savings 0.10 National Average 0.26 Compare Offers
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Fees

4.7
SmartAsset Average: 4.4

West Plains Bank and Trust Company has typically extremely low fees in comparison to the national average. With no monthly fee, West Plains Bank and Trust Company's checking account is ideal for people who need a hassle-free banking experience. For those who will need cash in a pinch, it is good because it has an out-of-network ATM fee of $1.00, which is good compared to other U.S. banks. Additionally, West Plains Bank and Trust Company has an overdraft fee of $29.00, which is considerably less than the national average overdraft fee. West Plains Bank and Trust Company unfortunately does not reimburse out-of-network ATM fees, which means you will have to search for a West Plains Bank and Trust Company ATM or accept the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $29.00 National Average: $35.00
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Service Quality

3.0
SmartAsset Average: 3.7

West Plains Bank and Trust Company is a brick-and-mortar bank, with five total bank locations in Missouri. With mobile and web apps, West Plains Bank and Trust Company makes mobile banking convenient, even on the go. West Plains Bank and Trust Company receives unsatisfactory reviews from users for its mobile platform. Out of 10 ratings across Apple and Android platforms, the West Plains Bank and Trust Company mobile app has an overall rating of 2.3 out of 5 (compared to the national average of 3.8). West Plains Bank and Trust Company's mobile app lets you control your finances by checking current statements, transferring funds and accessing customer service. West Plains Bank and Trust Company receives a superb consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

West Plains Bank and Trust Company ranks as a small bank with $387 million in assets as well as deposits totaling $338 million. West Plains Bank and Trust Company has an excellent Texas Ratio of 2.48%, signifying that the bank is in superb financial well-being and unlikely to fail. Additionally, West Plains Bank and Trust Company 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.

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Compare West Plains Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Certificates of Deposit
  • 12 Month: 1.15% APY
  • 24 Month: 1.41% APY
  • 36 Month: 1.91% APY
  • 60 Month: 2.22% APY
$1000 for all terms
Money Market Accounts 0.15% APY 0.25% APY $10000 $15000

West Plains Bank and Trust Company has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. West Plains Bank and Trust Company 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. West Plains Bank and Trust Company's CD rates are fair compared to the average U.S. bank.

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Find a West Plains Bank and Trust Company Near Me

West Plains Bank and Trust Company has five physical locations across the U.S.

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