It may not be a household name, but there’s a reason why this bank has sky-high customer satisfaction.
You work hard for your money, so you want a bank that’s going to protect your assets like its own. NBKC Bank is a privately owned bank that’s best known for its mortgage lending services and Costco referral program. It also has a solid selection of checking and savings accounts, CDs and credit cards that may meet your personal and business banking needs.
It’s financially strong and tech savvy, with tools that make it easy to manage your money wherever you are. But if you prefer face-to-face communication, you may want to explore other banks if you live outside of Kansas or Missouri.
What banking products does NBKC Bank offer?NBKC Bank offers a suite of banking products for personal and business use, all with online banking access.
- NBKC Personal Account. This no-fee checking account has an APY of 1.01%, so the more you grow your balance, the more you’ll be rewarded. It only takes $5 to open the account and you don’t need to maintain a minimum balance.
- Personal Money Market Savings. This MMA requires a $5 minimum opening deposit. It has an APY of 1.77% for balances up to $1 million and 1.31% for those over that amount.
- NBKC Debit Mastercard. This chip-enabled card is accepted worldwide, and use it for free at over 32,000 MoneyPass ATMs across the country.
- NBKC CD. Meet your long-term savings goals with the help of NBKC’s personal CDs that range from three to 60 months. They require a $1,000 opening balance, and interest rates starting at 0.65% APY for the 3-month CD and go up to 3.05% APY for the 60-month CD.
- Business Account. NBKC Bank has a single business account. You’ll pay $5 to open it, but online banking is free and there are no limits on account transactions. The bank also offers a courtesy overdraft sweep. You can add unlimited deposits, unlimited account support and out-of-band authentication to your account for a small fee.
- Business Money Market Savings. Open this account with a minimum $5 deposit, and start earning interest as your balance grows. The interest rate is 1.77% APY for balances up to $1 million and 1.31% APY for those over that amount.
- NBKC Debit Mastercard. Withdraw money and check your balance for free at over 32,000 MoneyPass ATMs across the country. The chip-enabled card is accepted globally, which is handy for business trips.
- NBKC Visa Card. The bank offers a variety of credit cards, including cashback and travel rewards options. With these cards, you can access cash at ATMs worldwide, and you’re not responsible for unauthorized charges if your Visa is lost or stolen.
- NBKC Business CDs. With terms ranging from three to 60 months, you can easily access your money once the CD matures. The minimum opening deposit is $1,000, and rates start at 0.65% APY for a three-month CD and goes up to 3.05% APY for a 60-month CD.
How does it compare to other banks and services?NBKC Bank holds $432.7 million in deposits across its four US branches. While it isn’t in the top 50 bank holding companies in the country, it’s financially strong and boasts $631.5 million in assets. In the industry, the bank is best known for its mortgage lending and has amassed an impressive $411.9 million in loans and leases. As of December 31, 2017, it recorded a return on average investments (ROA) of 1.73% — which sits comfortably above the national average of 1%.
Thanks to these stats, NBKC Bank is a solid choice for personal and business banking. It appears to be most popular with consumers in the two states it has a physical presence: Kansas and Missouri.
Why should I open an account at NBKC Bank?
- No minimum balance required. You don’t need to maintain a minimum balance on personal or business accounts.
- Account incentives. Most accounts come with limited fees, plus you can score cashback rewards with many of its debit and credit cards.
- Sophisticated online and mobile banking. Manage your account, set alerts, deposit checks and make and stop payments online or on the app.
- Live chat with customer support. NBKC Bank offers help via live chat on its website during business hours from 8 a.m. to 5 p.m. CT. Customers can also call 800-528-2273 at any time to report a lost or stolen card.
- Complimentary access to MoneyPass ATMs. Use any of the 32,000 ATMs scattered around the US for free.
- Monthly refunds on ATM fees. If you’re not near a MoneyPass ATM, rest easy knowing you’ll earn up to $12 in monthly refunds for ATM fees charged by other banks.
What should I look out for?
- Few physical branches. While anyone in the US can set up an online account with NBKC Bank, the only physical branches are in the Kansas City area. If you prefer face-to-face communication with your bank, this may not be the right one for you.
- Limited customer service times. The customer service team is only available during office hours on weekdays, which means any pressing issues will have to wait until the next business day.
- Expensive wire transfers. The bank charges $5 to send domestic wires and $45 for international wires. You won’t pay anything to receive transfers from within the US, though international wires cost $45.
What do regulators and customers say?NBKC Bank is an FDIC-insured, full-service bank. Along with insurance, it protects your money with the help of sophisticated security systems, including multifactor authentication. You’ll have to authorize any high-risk transactions, and you can download NBKC’s Detect Safe Browsing app for free.
According to the Federal Financial Institutions Examination Council (FFIEC), NBKC Bank has a satisfactory Community Reinvestment Act (CRA) rating, which it earned in May 2017.
The bank is accredited with the Better Business Bureau (BBB) and boasts an A+ rating for its customer service and interactions as of September 2018. From 853 customer reviews, it scored an average five-star review rating. And in the past three years, just two complaints were registered with the BBB — both of which were related to mortgage lending and NBKC Bank quickly solved the issues.
The reviews are overwhelmingly positive on consumer websites, too. Customers praise the personalized customer service and appreciate how easy it is to open a business or personal account. While some account holders lament the lack of physical branches, others say the bank’s tech-savvy team and online and mobile banking tools bridge that gap.
If we had to use one word to describe NBKC Bank’s approach to banking, it’d be “streamlined.” You won’t find lengthy account names. Instead, the bank has a single personal and business account and offers flexibility with its CDs and credit cards. It has impressive customer reviews, though if you live outside of Kansas and Missouri, just know there won’t be a physical bank branch in your state.
Before signing the dotted line, compare your options with our comprehensive guide to bank accounts.