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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

West Plains Bank and Trust Company was founded in 1883 and has its headquarters in West Plains, Missouri. It handles $387 million in assets as well as deposits totaling $338 million, classifying it as a small bank. West Plains Bank and Trust Company 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 apps. On the whole, West Plains Bank and Trust Company is a good bank that gets the job done, with a score of 4.0 stars out of 5 from the SmartAsset team. West Plains Bank and Trust Company provides customers with a complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. West Plains Bank and Trust Company has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, West Plains Bank and Trust Company's standard checking account does not have a monthly charge. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same institution is your best option for accruing the most income on your deposits while maintaining convenient access to your money.

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

With a savings rate of 0.10%, West Plains Bank and Trust Company ranks poorly as compared against the national average. West Plains Bank and Trust Company's one-year CD has a rate of 1.05% and the five-year CD has a rate of 2.17%, while its highest-yielding money market account has an APY of 0.25%. Given its noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

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 generally has extremely low fees in comparison to the average U.S. bank. With no monthly fee, West Plains Bank and Trust Company is perfect for people who want a simple banking experience. For those who will need cash in a pinch, it is solid because it has an out-of-network ATM fee of $1.00, which is solid compared to the national average. Additionally, at $29.00, its overdraft fee is considerably lower than the national average. West Plains Bank and Trust Company unfortunately doesn't reimburse out-of-network ATM charges, which means you'll need to find a West Plains Bank and Trust Company ATM or accept the 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. It also offers access to mobile and web apps for a straightforward mobile-banking experience. West Plains Bank and Trust Company's online and mobile banking services get mediocre scores from users. The West Plains Bank and Trust Company mobile app rates a 2.3 out of 5 (out of 10 customer reviews on Apple and Android) compared to the national average of 3.8. You can access West Plains Bank and Trust Company's mobile app to control your accounts by monitoring current statements, sending and receiving money and accessing customer service. West Plains Bank and Trust Company receives an outstanding consumer satisfaction rating due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 is currently a small bank with assets totaling $387 million and $338 million in deposits. Its Texas Ratio is 2.48%, signifying that West Plains Bank and Trust Company is in terrific financial shape 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: 1.05% APY
  • 24 Month: 1.31% APY
  • 36 Month: 1.86% APY
  • 60 Month: 2.17% APY
$1000 for all terms
Money Market Account 0.15% APY $1000

West Plains Bank and Trust Company has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. West Plains Bank and Trust Company 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. West Plains Bank and Trust Company's CD rates are fair in comparison to other U.S. banks.

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Find a West Plains Bank and Trust Company Near Me

West Plains Bank and Trust Company has five branches in the U.S.

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