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Wheatland Bank Review

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

Overview

Wheatland Bank first started operating in 1979 with headquarters in Spokane, Washington. Wheatland Bank has $404 million in assets and $364 million in deposits, ranking it as a small bank. Wheatland Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. We ranked Wheatland Bank at a 3.9 out of 5 stars, suggesting it is a respectable bank that warrants your consideration. Wheatland Bank provides customers with a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Wheatland Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Wheatland Bank's most basic checking does not carry a monthly maintenance charge. Finding 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 accruing the most income from your deposits while having 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

3.0
SmartAsset Average: 3.5

Wheatland Bank features a savings rate of 0.10%, which is poor as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.85% and 2.06%, respectively, while its highest-yielding money market account has a rate of 0.25%. Given Wheatland Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Wheatland Bank's Savings Rates Compare

Wheatland Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Wheatland Bank has typically extremely low fees as compared against the national average. With no monthly fee, Wheatland Bank is ideal for people who want a basic banking experience. Wheatland Bank unfortunately doesn't refund out-of-network ATM charges, which means you will be required to locate a Wheatland Bank ATM or eat the withdrawal fee.

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
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Service Quality

2.7
SmartAsset Average: 3.7

Wheatland Bank is a brick-and-mortar bank, with 14 total bank locations in Washington. With mobile and web apps, Wheatland Bank makes mobile banking convenient, even on the go. Wheatland Bank's online and mobile banking platforms receive poor feedback from customers. The Wheatland Bank mobile app scored a 1.6 out of 5 (out of 5 reviews on iOS and Android) compared to the national average of 3.8. Wheatland Bank's mobile app allows you to control your finances by looking at monthly statements, sending and receiving money as well as accessing support representatives. Wheatland Bank receives an outstanding consumer satisfaction rating based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 1.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

Wheatland Bank is a small bank and has assets totaling $404 million and $364 million in deposits. Wheatland Bank's Texas Ratio is 1.05%, signifying that Wheatland Bank is in outstanding financial health and unlikely to fail. Additionally, Wheatland 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.

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Compare Wheatland Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.03% APY $50
Certificates of Deposit
  • 12 Month: 0.85% APY
  • 24 Month: 1.05% APY
  • 36 Month: 1.16% APY
  • 60 Month: 2.06% APY
$5000 for all terms
Money Market Accounts 0.2% APY 0.25% APY $10000 $15000

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

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Find a Wheatland Bank Near Me

Wheatland Bank has 14 physical locations in the U.S.

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