nbkc bank review 2023
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BLUEPRINT
Updated 5:00 p.m. UTC Dec. 14, 2023
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nbkc Bank
Pros
- Few fees.
- High customer ratings.
- Nationwide ATM network.
Cons
- Most loans and in-person banking are limited to the Kansas City area.
- Interest rates aren’t as high as the competition.
- No Zelle integration.
nbkc Bank basics
While you can find higher yields on banking products from its competitors, nbkc combines decent rates with low fees.
- Checking accounts: nbkc Bank Everything Account.
- Money market accounts: nbkc Personal Money Market Account.
- Certificates of deposit (CDs): nbkc Personal certificates of deposit.
- Other accounts: Mortgages, personal loans, auto loans, bridge loans, home equity, land loans and business banking.
- Bank branches or online only: Digital access available everywhere and in-branch banking available in the Kansas City area.
Annual percentage yields (APYs) and account details are accurate as of December 6, 2023.
About nbkc Bank
Primarily a digital bank, nbkc provides deposit accounts and home loans nationwide, focusing on straightforward offerings. While big name banks like Wells Fargo offer multitudes of checking and savings accounts with different fee schedules, nbkc offers one “Everything Account” that has few fees.
nbkc Bank Everything Account
The nbkc Everything Account is a checking and savings account all in one. Essentially, it’s a checking account with the ability to assign money to different “savings goals.” Balances earn a flat yield, currently 1.75% APY.
Perks include a Mastercard debit card, bill pay capabilities and mobile money management tools; access to about 40,000 ATMs in the MoneyPass ATM network — plus $12 of reimbursements per month for out-of-network ATM transactions.
The account has no monthly fees, minimum balance fees, overdraft fees, insufficient funds fees, dormant account fees, stop payment fees or returned item fees.
nbkc Personal Money Market Account
While nbkc has no dedicated savings account, it does offer a money market account that earns 2.75% APY. Money market accounts themselves are a hybrid of checking and savings, but with a focus on savings.
Like the Everything Account, there’s no minimum deposit requirement, no monthly fees and no limit on the amount of deposits, withdrawals or transfers. However, both accounts do require a minimum account balance of $0.01 to obtain APY.
If you want to prioritize earning interest, here are the best high-yield checking and savings accounts.
nbkc Personal certificates of deposit
Nbkc offers CDs with terms ranging from six months to five years, with rates between 0.10% to 5.40% APY. There’s a minimum deposit requirement of $1,000 for CD terms of 15 months or less or $250 for CD terms of two years or greater.
Also offered are nbkc Personal IRA certificates of deposit, though the rates aren’t as competitive as the best CD rates available.
Other products
- Mortgages: Nbkc offers mortgage loans nationwide with online applications and competitive rates. Refinances are available, too.
- Personal, auto, home equity and land loans: These loans are only available to customers in nbkc’s local Kansas City market.
- Bridge loans: If you want to buy a new home and haven’t sold your current one, you could get a bridge loan, which is available in all 50 states.
- Business banking: Nbkc’s business banking includes The nbkc Business Account, nbkc Bank Business Money Market Account, nbkc Business certificates of deposit, lending options and an array of business services for traditional businesses and fintechs.
How nbkc stacks up
nbkc vs. Ally
Ally Bank is an online-only bank and a much larger institution than nbkc. Unlike nbkc, Ally has separate checking and savings accounts, and the Ally Bank Savings Account offers a much more competitive 4.25% APY on all balances. Neither Ally nor nbkc charges much in the way of fees and both banks offer monthly reimbursements — $12 for nbkc, and $10 for Ally — for out-of-network ATM transactions.
Overall, Ally offers a more diverse range of accounts, including various types of CDs. It also offers credit cards and investments, which nbkc does not.
nbkc vs. CIT Bank
You should prefer nbkc if you’re looking for a simple checking experience that earns interest, whereas CIT Bank is better if you’re hunting higher yields on cash you’re not looking to spend.
CIT Bank offers several savings account options and one checking account — CIT Bank eChecking — which earns 0.10% APY on balances under $25,000 and 0.25% APY on balances of $25,000 or greater. It has no fees and reimburses up to $30 per month in out-of-network ATM fees.
CIT’s savings accounts (including the CIT Bank High-Yield Money Market Account) have a $100 minimum deposit requirement. Savings balances of $5,000 and more can earn the most with the CIT Bank Platinum Savings account: 5.05% APY with a balance of $5,000 or more and 0.25% APY on balances less than $5,000. Otherwise, the CIT Bank Savings Connect account offers 4.65% APY on all balances.
nbkc vs. Capital One
Capital One may be better known for its credit cards, but the bank also offers checking, savings, loans and business banking. While Capital One and nbkc both offer in-person and online banking, Capital One’s branches are spread over several states and regions.
Capital One’s primary free checking account, the Capital One 360 Checking Account, has no minimums and currently earns 0.10% APY on all balances. While Capital One doesn’t reimburse out-of-network ATM fees, its network includes more than 70,000 ATMs.
When it comes to savings, the Capital One 360 Performance Savings account also has no fees or minimums, but outearns nbkc’s joint Everything Account, offering 4.35%. However, nbkc competes well when it comes to CDs rates.
Nbkc received only one complaint on the Consumer Financial Protection complaint database in over a decade. It’s also rated as “excellent” by Trustpilot and has an “A+” grade from the Better Business Bureau.
But whether it’s the best bank for you depends on your needs and, possibly, your geographic location. For example, customers outside of the Kansas City area can’t access most of nbkc’s loans, nor can they bank in person.
Nbkc Bank isn’t currently on the Zelle network. But you can still use the tool by downloading the Zelle app and adding an eligible debit card. You can also send or receive money with services like Google Pay or Venmo.
Nbkc Bank is insured with the Federal Deposit Insurance Corp. (FDIC #35014), which means your deposits are protected up to $250,000 per account category in case of bank failure.
Nbkc Bank is a state-chartered bank insured by the FDIC. Just keep in mind that while many of its products are available online nationwide, certain loans are only available to those in the Kansas City area.
Nbkc Bank has very few fees. The primary fees you’ll come across are foreign transaction fees and wire fees. You may also have to pay ATM fees if you exceed the allotted $12 monthly out-of-network ATM reimbursement.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
