Bank owned by Hispanic Americans in Texas

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Overall rating of the bank

Advantages and disadvantages

Verification

Annual percentage return (APY)

Nothing

  • Advantages and disadvantages

  • Details


  • Advantages
    • Ability to waive monthly service charges
    • No out-of-network ATM fees
    • Set up automatic bill payment (3 month free trial)
    The inconvenients
    • Minimum opening deposit of $ 125
    • Monthly service fees up to $ 8
    • $ 35 overdraft fee
    • $ 5 overdraft protection fee when you save money
    • Does not reimburse fees charged by off-network ATM providers
    • Monthly fee of $ 2 for each ATM card on the account
    • After the first 3 months, the bill payment tool costs $ 5.95 per month and includes 10 monthly installments; each additional payment costs $ 0.45
    • Hispano-American bank with 2 branches in Texas (Roma, Rio Grande City)
    • Free ATMs in branches
    • $ 8 monthly service charge if your daily balance drops below $ 300; $ 5.50 monthly service charge if your daily balance is less than $ 500; no monthly service charge if you maintain a minimum daily balance of $ 500
    • FDIC member

    You can waive the monthly fee by keeping at least $ 500 in your personal Citizens State Bank checking account. Keep an eye out for other fees, however – you’ll pay $ 2 per month for each ATM card attached to the account, and at least $ 5.95 per month if you set up automatic bill payment.

    Savings

    Annual percentage return (APY)

    0.05% APY

  • Advantages and disadvantages

  • Details


  • Advantages
    • Possibility to waive the quarterly fee of $ 20
    • Apply for an ATM card
    The inconvenients
    • Minimum opening deposit of $ 100
    • Low interest rate
    • $ 20 quarterly fee
    • Monthly fee of $ 2 per ATM card on account
    • Limited to 3 free transfers / withdrawals per quarter, then $ 4 fee per transaction
    • Hispano-American bank with 2 branches in Texas (Roma, Rio Grande City)
    • Eliminate the $ 20 quarterly fee by maintaining a minimum daily balance of $ 300
    • Interest compounded daily, paid quarterly
    • FDIC member

    You can waive the $ 20 quarterly fee on your Citizens State Bank personal savings account by maintaining a daily balance of $ 300. However, you are limited to three withdrawals per quarter, then you will pay $ 4 per transaction. You will also earn a significantly higher interest rate with the bank’s Kasasa High Yield Savings Account.

    CD

    Annual percentage return (APY)

    0.07% to 0.35% APY

  • Advantages and disadvantages

  • Details


  • Advantages
    • Low to standard early withdrawal penalties
    • Longer-term competitive interest rates
    The inconvenients
    • Terms only go up to 3 years
    • Minimum deposit of $ 1,000
    • Low interest rate on shorter terms
    • Hispano-American bank with 2 branches in Texas (Roma, Rio Grande City)
    • The durations range from 6 months to 3 years
    • Early withdrawal penalties range from 90 days of interest to 180 days of interest
    • Interest compounded daily, you decide when it pays
    • FDIC member

    The Citizens State Bank CD is a good option if you have at least $ 1,000 to get started. However, you will have to use another bank if you want more than three years.

    Money market account

    Annual percentage return (APY)

    0% to 0.05% APY

  • Advantages and disadvantages

  • Details


  • Advantages
    • Minimum opening deposit of $ 100
    • Possibility to waive the monthly service charge of $ 10
    • Apply for an ATM card and paper checks
    • No out-of-network ATM fees
    • Set up automatic bill payment (3 month free trial)
    The inconvenients
    • Low interest rate
    • No interest earned for months when your daily balance drops below $ 2,000
    • $ 10 monthly service charge
    • Does not reimburse fees charged by off-network ATM providers
    • Monthly fee of $ 2 for each ATM card on the account
    • After the first 3 months, the bill payment tool costs $ 5.95 per month and includes 10 monthly installments; each additional payment costs $ 0.45
    • $ 35 overdraft fee
    • $ 5 overdraft protection fee when you save money
    • Hispano-American bank with 2 branches in Texas (Roma, Rio Grande City)
    • Free ATMs in branches
    • Limited to 6 withdrawals per month
    • Eliminate the monthly service charge of $ 10 by maintaining a daily balance of $ 2,000
    • No interest earned for the month your daily balance falls below $ 2,000
    • Interest compounded daily, paid quarterly
    • FDIC member

    The Citizens State Bank Money Market Checking Account pays the same interest rate as the regular savings account, and you can make six withdrawals per month instead of three per quarter. The account is probably only suitable if you can keep $ 2,000 in your account, otherwise you won’t earn interest and pay a monthly fee of $ 10.

    How the Citizens State Bank works

    Citizens State Bank is a Spanish-American bank with branches in Rome and Rio Grande City, Texas. There is a free ATM at each location.

    Call or visit the drive-thru Monday to Friday 8:30 a.m. to 5:00 p.m., or Saturday 9:00 a.m. to 1:00 p.m. Branch halls do not open until 9:00 a.m. on weekdays and are closed on Saturdays.

    The bank has its own accounts, but it also has three Kasasa accounts: a high yield savings account, a high yield chequing account, and a cash back chequing account.

    Kasasa is a financial services company that partners with small banks and

    credit unions
    so that institutions can offer customers more competitive products. Citizens State Bank’s Kasasa accounts are more competitive than its regular accounts, but each has its limits. For example, you will earn 2% cash back with Kasasa cash back account, but only up to $ 7.50 per month. Learn more about the bank’s Kasasa accounts here.

    The bank does not have a mobile app.

    Your deposits are FDIC insured up to $ 250,000, or up to $ 500,000 for joint accounts.

    Is Citizens State Bank Trustworthy?

    The Citizens State Bank has no public controversy.

    At Insider, we typically rate banks for reliability based on their Better Business Bureau ratings. However, the BBB has yet to assess the Citizens State Bank.

    You might want to ask friends and family about their experiences with Citizens State Bank or read customer reviews online.

    Citizens State Bank Comparison

    We compared the Citizens State Bank to two other Spanish-American banks in the same cities: the Lone Star National Bank and the Rio Bank.

    To learn more about the role of Hispanic-American-owned institutions in working with underserved communities, read our guide to Hispanic-American-owned banks and credit unions.

    Your choice between the three banks could depend on where you live in Texas. Lone Star and Rio have more branches than Citizens State Bank. They are also both part of the Allpoint ATM network, giving you access to over 55,000 free ATMs in the United States. These two banks could be more convenient options if you travel regularly.

    You might like Citizen State Bank Kasasa accounts. Kasasa accounts have more benefits than any of the regular accounts of three banks.


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