NBKC Bank Review 2024: Checking, Savings, & CDs
NBKC Bank is an award-winning online bank and mortgage lender operating out of Kansas City. If you’re looking for a new checking, savings, or CD account, consider NBKC to open your next account. Before you do, however, it helps to know how the bank and its products work.
NBKC Bank At-a-Glance
As mentioned, NBKC is an award-winning bank and an FDIC member. That means your deposits are protected in the unlikely event of a bank failure.
Overall Impression
NBKC offers a solid range of banking products and services for personal and business customers. There are fewer checking account options to choose from here than other banks, but the CD options are noteworthy for offering some of the highest APYs. You’ll need to be comfortable managing your accounts online unless you live in Kansas City, where NBKC has branch locations.
Which Banks Have the Best Savings Account Rates?
Savings rates are higher than they’ve been in over a decade, but if you’re using a traditional, big-name bank, you’re missing out on these rates.
Here are our top picks for those who want to earn the highest interest on their savings.
NBKC Bank Pros and Cons
NBKC Bank has a lot of positives, including competitive rates and minimal fees. It doesn’t hurt to access your account at thousands of ATM locations without a fee. Here’s a quick rundown of the main pros and cons to know if you’re considering banking here.
Pros
- An extensive ATM network makes it easy to withdraw cash when needed.
- CD savers can earn highly competitive rates with a moderate opening deposit requirement.
- Both online and mobile banking are user-friendly and easy to navigate.
- NBKC refunds foreign ATM fees up to $12 per month.
- Everything Accounts make it easy to save, spend, and earn interest all in one place.
Cons
- Limited branch locations may not work for people who prefer to bank in person.
- Money market rates are lower than what you might find offered with savings accounts at other online banks.
- Some people like to have a broader range of checking account options to choose from.
Compare to Other Banks
NBKC Bank is just one of many online banks that offer checking, savings, and CD accounts. If you’re searching for a new place to bank, it helps to know your options.
Here are a few other banks you might consider.
UFB Direct
UFB Direct offers high-yield savings accounts and money market accounts online. APYs are highly competitive for both, and the money market account includes check-writing privileges. That’s helpful, as UFB Direct does not offer a standalone checking account.
Read our full UFB Direct savings account review.
Pros
- Earn exceptional rates with both the money market and high-yield savings account.
- Easily manage accounts online or through the UFB Direct mobile app.
- Enjoy check-writing privileges with the money market account.
Cons
- No standalone checking account option is available.
- A monthly maintenance fee applies if you fail to meet the minimum balance requirement.
- No debit card is offered with either account.
Truist Bank
Truist Bank might appeal to people who want to have the option of banking at a branch in addition to online and mobile banking. Truist offers money market accounts, savings accounts, checking accounts, credit cards, and loans.
Truist One savings accounts have a low $50 opening deposit requirement and a $5 monthly maintenance fee, though you have multiple ways to waive it. Here are the main pros and cons of this account.
Truist Bank Savings Account Pros & Cons
Pros
- Easy to open online or at a branch.
- Low minimum deposit requirement to open.
- Link to a Truist One checking account for overdraft protection.
Cons
- A monthly maintenance fee applies unless you meet certain.
- Interest rates are well below what you could find with NBKC or other online banks.
- Truist doesn’t operate in every state.
The Truist Money Market account is also an interest-bearing account with a low $50 minimum deposit requirement. One nice feature of this account is the option to get checks and a debit card for convenient access. Here are the main pros and cons to know.
Truist Bank Money Market Account Pros & Cons
Pros
- Access cash at ATMs, write checks, or use your debit card to make purchases.
- Low opening deposit requirement.
- Link to a Truist checking account for overdraft protection.
Cons
- A higher monthly maintenance fee applies unless you can waive it.
- Rates are among the lowest of any money market account option.
- No foreign ATM fee reimbursement.
Read our full Truist Bank money market and savings account review.
Who Is NBKC Bank For?
NBKC Bank could be a good fit for savers who are okay with banking exclusively online. You might consider opening an account here if you:
- Need a simple checking and savings account option
- Are interested in building a CD ladder to capitalize on higher CD rates
- Feel comfortable with online and mobile banking
- Would like the option to visit an ATM fee-free if you need to withdraw cash
- Want access to educational resources and tools to improve your financial knowledge
You might also consider banking here if you live in Kansas City since you’ll have access to branch locations. But even if you don’t, setting up your accounts online is easy.
Rating the Features & Products
Any time you’re shopping for a new bank, looking at features and benefits is helpful to see how they match up with what you need. Here’s a deeper dive into what NBKC offers regarding their money market and savings accounts.
Mobile Banking
NBKC’s mobile app has all the features you’d expect from a banking app. You can log in, view your balances and transaction history, schedule bill payments, transfer funds between accounts, and deposit checks. One thing you can’t do, however, is send money to friends and family through Zelle.
NBKC is currently not in the Zelle network, but you can link your account to other money transfer services, including Apple Pay, Google Pay, PayPal, and Venmo.
Customer Service and Experience
If you live in Kansas City, you can visit an NBKC location; otherwise, you’ll need to get help from customer service by phone. There’s also an online chatbot option available Monday through Friday from 8 a.m. to 7 p.m. CST.
Regarding its overall reputation, NBKC earns positive marks from consumers across the board. The bank currently has a 4.5-star rating on Trustpilot.
Fees
Like other online banks, NBKC is fee-friendly. You won’t pay a fee to withdraw cash at more than 37,000 MoneyPass ATMs, and NBKC will reimburse up to $12 per month in foreign ATM fees. There are no actual account fees other than $5 for outgoing domestic wire transfers. The cost increases to $45 for outgoing international wire transfers.
Rates
When comparing savings accounts, money market, or CD account rates, knowing how much interest you could earn is also helpful. NBKC pays interest on all three accounts at rates above what you could get at a brick-and-mortar bank.
In terms of which account pays the best APY, you’ll want to check out NBKC’s CD options. CD rates are significantly higher than you could earn with a money market or savings account here.
Tools, Extras
NBKC offers access to a library of educational articles to help you brush up on your financial know-how. You’ll also be able to use a variety of calculators to estimate how much you might be able to grow your savings or plan for retirement. You won’t find any rewards offered with checking accounts, and NBKC currently doesn’t provide any type of new account bonus either.
Access
You’ve got multiple ways to manage your accounts with NBKC, including online banking, mobile banking, and 37,000+ MoneyPass locations. As mentioned, you can visit a branch in Kansas City. Help is available by phone, and the chatbot is open Monday through Friday to answer questions.
Safety and Security
NBKC takes customer security seriously and implements the usual measures you’d expect, including using encrypted data to protect information. You can also protect your account by choosing a secure password, setting up multifactor authentication, and enabling alerts to keep track of new activity in your account.
NBKC is an FDIC-member bank, meaning your accounts are protected against bank failure up to $250,000.
Minimum Deposit or Balance Requirement
No minimum balance is required to open an Everything Account, including checking and savings. There’s no minimum balance requirement for the money market account either. The minimum deposit for CD accounts ranges from $250 to $1,000, depending on which CD term you choose.
Frequently Asked Questions (FAQs)
No, NBKC does not have a rewards checking account option. You can, however, earn interest on balances with an Everything Account. The Everything Account combines a checking and savings account in one place, with no minimum deposit or balance requirements.
The best online savings account for you is the one that has a minimum deposit requirement you can easily meet and offers a competitive rate. That might be NBKC, but it might not; that’s why it’s important to compare savings account options carefully to find the one that checks off all the boxes on your list of must-have features.
Opening a savings or CD account with NBKC could be worth it if you’re comfortable with online banking and want to earn competitive deposit rates. You’ll get the best rates with NBKC’s CD account options, which require a minimum deposit of $250 or $1,000, depending on your chosen term.
