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Wintrust Bank Review

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Wintrust Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1994, Wintrust Bank has $5 billion in assets along with deposits totaling $4 billion, which makes it a large bank. Wintrust Bank, whose headquarters are in Chicago, Illinois, lacks premium access to customer service, 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 offerings. On the whole, Wintrust Bank is a good bank that deserves your consideration, with a score of 4.1 stars out of 5 from the SmartAsset experts. Wintrust Bank offers a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Wintrust Bank offers an option without a maintenance or monthly fee. Locating an institution with no-fee checking as well as a high interest rate savings account is the best bet for accruing the highest income from your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
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

Wintrust Bank has a savings rate of 0.10%, which is fair compared to the average U.S. bank. Wintrust Bank's one-year and five-year term lengths CDs earn at a rate of 0.15% and 0.95%, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How Wintrust Bank's Savings Rates Compare

Wintrust Bank Savings 0.15 National Average 0.09 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Wintrust Bank charges its customers extremely low fees as compared against the national average. With no monthly fee, Wintrust Bank is ideal for people who want a basic banking experience. For those who will need cash in a pinch, Wintrust Bank is perfect because it has no out-of-network ATM fees. Additionally, at $35.00, it has a moderate overdraft fee compared to the average U.S. overdraft fee. Wintrust Bank reimburses any incurred out-of-network ATM fees, which gives convenient access to cash at any time.

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

3.4
SmartAsset Average: 3.7

Wintrust Bank has both an online and physical presence, with 28 total bank locations in , , , , and . With mobile and web apps, Wintrust Bank makes account access straightforward, even on the go. Wintrust Bank's online and mobile banking services get poor scores from customers. The Wintrust Bank mobile app rates a 3.0 out of 5 (with 541 customer reviews on Apple and Android) compared to the national average of 3.8. Wintrust Bank's mobile app allows you to manage your accounts by monitoring current statements, sending and receiving funds as well as accessing support representatives. Wintrust Bank receives an excellent consumer satisfaction rating based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal Yes
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Wintrust Bank ranks as a large bank and handles assets totaling $5 billion and deposits totaling $4 billion. Wintrust Bank's Texas Ratio is 3.48%, denoting that Wintrust Bank is in terrific financial well-being and far from failure. Additionally, Wintrust Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.48%
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 Wintrust Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $2500
Checking Account 0.01% APY $1
Certificates of Deposit
  • 12 Month: 3.00% APY
  • 17 Month: 3.25% APY
  • 26 Month: 3.25% APY
  • 48 Month: 0.60% APY
  • 60 Month: 0.95% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.15% APY $10000 $15000

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

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Find a Wintrust Bank Near Me

Wintrust Bank has 28 branches across the U.S.

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