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Customers Bank VS KS StateBank

Which bank is better for you?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
No Rate Information
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Pros:

  • Competitive interest rates
  • Ascent Money Market Savings account
  • Variety of personal deposit accounts
  • Low opening required amounts

Cons:

  • High opening amount for savings account
  • Cannot open all accounts online
  • Tiered interest rates on accounts
  • Accounts have monthly fees
  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
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Pros:

  • Variety of accounts offered
  • Most accounts have low opening amounts
  • Competitive interest rates on accounts
  • No monthly maintenance fees

Cons:

  • Not all accounts are available online
  • MMA has tiered interest rates
  • Jumbo CDs rates same as regular CDs
  • Fee for bank-to-bank transfers
Customers Bank Review

Most of the accounts with Customers Bank offer competitive interest rates. The accounts offer rates slightly lower than other online accounts. Customers Bank accounts interest rates are still higher than typical bank rates.

The Ascent Money Market Savings account earns rates competitive with other online accounts. This account is only available online. The interest rate for this account is competitive with other online accounts. The interest rate for this account is only guaranteed until the end of 2019.

There are a variety of personal deposit and business accounts available. They offer three personal checking accounts and one business checking account. They offer savings accounts for personal and business use. Customers Bank offers an online savings account. They offer CDs as well. Those terms range from 3-months to 60-months. CDs and the money market accounts are for personal deposit use only.

The personal deposit accounts with Customers Bank have low opening required amounts. Each of the three checking accounts and the savings accounts only require $10 to open. The money market requires $50 to open. Each of the CD terms require $500 to open.

The Ascent Money Market Savings account has a high opening required amount. This money market account requires $25,000 to open. You must keep that balance in the account to earn interest. This account does not come with an ATM card, debit card, or checks. You can access these funds through online banking.

Not all accounts at Customers Bank can be opened online. The Ascent Money Market Savings account can be opened online. The other accounts with Customers Bank may require a branch location to open. They have branch locations in eight states. Not all products are available at every location. Contact customer service to see which accounts are available.

Accounts at Customers Bank have tiered interest rates. To earn the most competitive rates requires high account balances. The Ascent Money Market Savings account requires $25,000 to earn interest. Other money market accounts require $250,001 to earn the competitive interest rate.

Some Customers Bank accounts have monthly fees. The checking account has a monthly fee of $29 if you do not meet the requirements. You must keep a $5,000 balance in Customers Bank accounts to waive the fee. The money market account has a $5 fee if you balance falls below $1,000. The retirement savings account has a $5 fee if your balance falls below $100.

Read the full Customers Bank review.

KS StateBank Review

A variety of accounts are available through KS StateBank. They offer a variety of personal deposit accounts. Those accounts include checking accounts, savings and money market accounts, and CDs. KS StateBank offers regular CDs and jumbo CDs. The CD terms range from six months to seven years. They also offer business accounts.

Most KS StateBank accounts have low amounts required to open the accounts. The checking and savings account require $100 to open. The regular CDs require $500 to open. The Jump Up CD requires $1,000 to open, and the MMA requires $2,500. The jumbo CDs do require $100,000 to open.

The Checking Plus account and CDs offer competitive interest rates. The savings and money market accounts offer slightly lower rates. Those rates are still good rates for online accounts. These rates are competitive with other online-only accounts. The rates are much higher than typical brick and mortar bank rates.

KS StateBank accounts do not have monthly maintenance fees. The accounts do not have required account balances to avoid monthly fees. There is a fee for paper statements or if you make more withdrawals each month than allowed.

Not all KS StateBank accounts are available online. The online checking account is only for residents of Kansas, Missouri, and Arizona. The other online accounts include a savings account, money market account, and CDs. Those accounts are available for any citizens around the United States. Open other accounts by visiting a local branch location.

The KS StateBank money market account has tiered interest rates. To earn the most competitive rate requires a balance of $100,000. Amounts under $100,000 earn interest, just not the most competitive rate. This account requires $2,500 to open. There is no required amount to keep in the account; you earn lower rates depending on your balance.

The interest rates for KS StateBank jumbo CDs are the same as their regular CDs. They do not offer higher interest rates. The jumbo CDs require $100,000 to open. Jumbo CDs are only for consumer accounts. They must be opened online.

KS StateBank has a fee for electronic transfers made between banks. They do not charge a fee for money transferred from another bank into your KS StateBank account. However, there is a $3.99 fee for each transfer made from KS StateBank to another financial institution.

Read the full KS StateBank review.

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