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nbkc Bank combines the best of digital banking with ease and affordability. While they have a few branches in Kansas and Missouri, their primary focus is on those who prefer online banking.
If you’re new to online banking, nbkc might just win you over. Let’s explore their account types, features, and perks.
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About nbkc Bank
nbkc is mainly an online bank, but you can visit a branch in person if you live near Kansas City, Missouri. Plus, you get free access to over 37,000 MoneyPass ATMs. If you use an out-of-network ATM and get charged, nbkc will cover up to $12 monthly fees.
Their mobile app is pretty popular, with a 4.4-star rating in the Apple Store and a 4.1-star rating in Google Play.
Call their customer support from Monday to Friday, 8 a.m. to 5 p.m. CT for any questions. However, they don’t offer customer support on weekends. Rest assured, all your deposits are FDIC-insured up to $250,000 or $500,000 for a joint account.
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Pros & Cons of nbkc Bank Account
Pros
- nbkc offers competitive interest rates on select deposit accounts
- Overdraft fees are nonexistent
- The initial deposit needed to open a Certificate of Deposit (CD) is minimal
- Customers receive reimbursements for out-of-network ATM fees
- Compared to traditional banks with physical branches, nbkc offers attractive rates on checking/savings, money market accounts, and CDs
- There are no monthly service charges or minimum balance requirements for checking/savings or money market accounts
- Money market accounts come with the option of debit cards and/or paper checks
Cons
- nbkc may not suit customers who prefer branch banking, especially if they don’t reside in the Kansas City metro area
- Some other banks offer higher interest rates on deposits
- CDs incur steep penalties for early withdrawals
- Combining checking and savings into one account may not appeal to everyone.
- Branch locations are limited to Kansas City, Missouri
Is nbkc Bank Trustworthy?
nbkc Bank boasts an A+ rating from the Better Business Bureau. This stellar score indicates the bank’s commitment to honest advertising, transparency in business practices, and efficient handling of customer complaints.
With no public scandals to worry about and a clean history, nbkc presents itself as a trustworthy option for your banking needs. Their strong BBB rating may give you the confidence to bank with them.
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nbkc Bank’s product offerings
nbkc currently offers the following products:
Checking and Saving Account
nbkc provides a versatile account that combines checking and savings features, making it easy for customers to manage their money. With this account, you can handle both spending and saving effortlessly.
You can set up autopay for your regular bills, set savings goals for future expenses, and monitor your progress and spending. Plus, this account offers a competitive annual percentage yield (APY) of 1.75%.
Money Market Account
Savers will appreciate nbkc’s money market account. It stands out because it doesn’t charge any fees and requires only a 1-cent minimum balance to start earning interest. This makes it an accessible and cost-effective option for growing your savings.
Certificates of deposit
nbkc offers certificates of deposit (CDs) with terms ranging from seven months to five years. To open a CD, you’ll need a minimum deposit of either $250 or $1,000, depending on the term you select. They also provide personal IRA CDs, with some terms requiring a lower minimum deposit of just $250. This flexibility makes it easier for you to find a savings option that fits your needs.
Mortgage loans
Homebuyers and owners have a range of mortgage options with nbkc Bank. They offer conventional loans, VA and FHA loans, refinancing options, and home equity loans. These choices provide flexibility for different needs, whether you’re buying a new home or looking to refinance or tap into your home’s equity.
Lending services
nbkc doesn’t just stop at mortgages, they offer various financing options, including auto, personal, bridge, real estate, and land loans. This wide array of options makes finding the right financing solution for your unique needs easier.
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Account fees
Here’s a closer look at the account fees nbkc customers can expect to pay:
- Monthly maintenance fee: $0
- Outgoing domestic wire: $5
- Incoming and outgoing international wires: $45
- ATM fee (out of network): None
- Overdraft fee: $0
- Returned item fee: $0
- Stop payment fee: $0
Account Basics – nbkc Bank Review
nbkc Bank Everything Account
The nbkc Everything Account simplifies banking by combining the features of checking and savings into one interest-bearing account with a 1.75% APY and no minimum balance requirement.
With the Everything Account, you can handle spending, saving, and bill payments all in one place. The 1.75% APY applies to all balances, so the more you save, the more you earn. This account is designed to be fee-friendly, eliminating:
- Minimum balance fees
- Overdraft fees
- Maintenance fees
- Foreign transaction fees
Some handy features include online bill payments, savings goal trackers, and linking external accounts for a complete financial overview. Opening an Everything Account is quick and easy.
It takes as little as five minutes online. You must be a U.S. citizen or resident alien, at least 18 years old, with a Social Security number and a government-issued ID. There’s no minimum deposit needed, but any deposits made within the first 30 days will be held for five business days and sometimes up to nine days.
Additionally, you may need to wait up to 90 days before you can send or receive international wire transfers. Domestic wire transfers cost $5 to send, but receiving is free. International transfers cost $45 to send or receive.
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CDs and Money Market Accounts
The nbkc Everything Account offers a streamlined way to manage both saving and spending, but nbkc Bank also provides other excellent options for saving and earning interest. Here are some of the additional choices available:
- Money market accounts
- Health Saving Accounts
- IRA savings accounts
- Certificates of deposit (CDs)
- IRA CDs
- Add-on CD
The nbkc Personal Money Market Account offers a 1.51% APY on all balances, with no fees or minimum balance requirements.
For specialized savings, the nbkc Personal Health Savings Account and nbkc Personal IRA Savings provide ways to earn interest. The Health Savings Account offers a 1.01% APY, while the IRA Savings Account offers 0.15% APY.
There’s no minimum balance to open these accounts like the money market account, but you’ll need at least $0.01 to earn interest.
For CDs, a minimum deposit of $1,000 is required for terms up to one year, while terms of two to five years require only $250. The nbkc Add-On CD is a special one-year CD that you can open with $0, earning 0.15% APY, and it allows for additional deposits throughout the term.
Total deposits in a CD cannot exceed $240,000. If you need to withdraw funds before the CD matures, an early withdrawal penalty may apply, and there’s a minimum 75-day hold on withdrawing CD funds.
All these accounts can be opened online. You must be at least 18 years old, a U.S. citizen, or a resident alien with the proper ID and Social Security documentation.
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What Features and Perks Does the nbkc Bank Checking Account Offer?
This account includes the following features:
- ATM Reimbursements: This account reimburses domestic ATM fees up to $12 monthly.
- Fraud Monitoring: The nbkc Bank checking account actively monitors transactions for potentially unauthorized activity, such as unexpected card usage in different locations or sudden, costly purchases.
- Online Bill Payment: Easily pay your bills directly from your account with Online Bill Pay.
- Mobile Banking Services: Manage your finances conveniently online or through the nbkc Bank mobile app, including the option to deposit checks using your smartphone.
- Nationwide ATM Access: Access your funds conveniently at a nearby ATM within a nationwide network.
- Soft Credit Check: The nbkc Bank checking account conducts a soft credit pull, allowing you to assess your eligibility without impacting your credit score.
Customer Experience – nbkc Bank Review
Customer Support
- Branch availability: nbkc has four branches in the Kansas City area and provides access to over 37,000 ATMs through the MoneyPass network.
- Customer service: Deposit account holders can get phone support from Monday to Friday, 8 a.m. to 7 p.m. CT. Additionally, online chat support is available during the same hours on the bank’s website.
Digital Experience
nbkc operates primarily as a full-service online community bank despite having a few physical branches. Most customer interactions occur online, with live chat support available from 8 a.m. to 7 p.m. CST on weekdays.
Highly rated mobile app: The nbkc mobile app is well-regarded on both iOS and Google Play. It allows users to set savings goals and view their overall finances by linking external accounts.
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nbkc Bank Account Review from Real Users – How Legit is It?
Curious about what nbkc customers have to say? Here are some Trustpilot reviews for nbkc Bank, where it holds an impressive 4.8 out of 5 stars.
nbkc Bank Alternatives
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Small business owners need a checking account that supports their daily operations rather than hinders them. Bluevine Business Checking accounts might be just what you’re looking for. They offer no fees and unlimited transactions, which are standard for online business checking accounts, but Bluevine goes further with an impressive 2.00% interest on balances up to $250,000. Read the full Bluevine review.
Remember, Bluevine is a financial technology company, not a bank. Its banking services are provided by Coastal Community Bank, which is insured by the FDIC and participates in the Insured Cash Sweep program via the IntraFi network.
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Lili is a financial technology company that offers business checking accounts ideal for digitally savvy business owners who rarely use traditional payment methods like checks. Partnering with Choice Financial Group, Lili ensures deposits of up to $250,000 through FDIC insurance.
Originally launched in 2018 to cater to freelancers, Lili has since expanded its online business checking accounts to accommodate most business entity types. The company has also increased deposit and transfer limits to better support larger businesses.
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Axos Bank is a top pick for those who prefer digital banking, thanks to its minimal fees, interest-bearing accounts, and extensive ATM network. Offering a broader range of accounts than many online banks, Axos can help you save on fees.
While it may not provide the highest savings rates, the yields and rewards on its checking accounts are impressive. The Axos Bank Rewards Checking account stands out with no monthly maintenance fees and unlimited domestic ATM fee reimbursements.
Additionally, it offers a maximum APY that surpasses many savings accounts. Your earnings will vary based on how you use the account and the other Axos Bank accounts you hold. Read our full Axos review.
nbkc Bank Account Review – FAQs
Bottom Line – nbkc Bank Review
nbkc Bank stands out as a robust online financial institution with low minimum opening deposits and low fees on most accounts. However, if you prefer in-person banking, it might only be the best fit if you reside in Kansas City, MO.
>> Discover nbkc Bank’s Benefits Now! >>
