Banking

NBKC Bank review: Helpful savings tools, no overdraft or foreign transaction fees

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  • NBKC Bank (Member FDIC) is an online bank with branches in Kansas City, Missouri.
  • The bank pays solid interest rates on all its accounts, and it doesn’t charge monthly fees.
  • The Everything Account is a hybrid checking/savings account that lets you create savings goals.
  • See Insider’s picks for the best CD rates »

This post was last reviewed and updated on July 22, 2021. 

Overall bank rating

Pros and cons

Checking/savings

Annual Percentage Yield (APY)

0.15% APY

  • Pros & Cons
  • Details

  • Pros
    • Competitive APY
    • No minimum opening deposit
    • No monthly service fees
    • No foreign transaction fees
    • No overdraft fees
    • Refunds up to $12/month for out-of-network ATM fees
    • Online bill pay
    • Set up separate savings goals
    Cons
    • Only branches are in Kansas City, MO
    • Limited customer support hours
    • No overdraft protection options
    • Online bank with branches in Kansas City, MO
    • Hybrid checking and savings account
    • Earn APY on entire balance
    • Set up savings goals
    • Interest is compounded daily, paid monthly
    • FDIC insured

    The NBKC Everything Account is a hybrid checking/savings account that pays a high interest rate on your entire balance. You don’t need to meet any qualifications to earn interest.

    You might find that keeping your spending and saving money all in one account simplifies your finances. You can also set up individual savings goals in your account, like “Emergency Fund” or “New Car” to track your progress and keep yourself from dipping into your savings.

    The NBKC Everything Account is a strong account that doesn’t charge fees. You may or may not like how the overdraft rules are set up, though. On the plus side, NBKC doesn’t charge overdraft fees. If your purchase would overdraw your account, NBKC will just deny the transaction. However, this could put you in a tough spot if you need to overdraw funds but don’t have the option.

    If you’d rather have checking and savings in separate accounts, there’s a pretty simple fix. Just use this account as a checking account without setting up savings goals, then open a NBKC Money Market Account.

    CDs

    Annual Percentage Yield (APY)

    0.10% to 0.30% APY

    Min Deposit

    $250 to $1,000

  • Pros & Cons
  • Details

  • Pros
    • Competitive APY
    • Option for a 1-year Add-to Starter CD, with no opening deposit
    Cons
    • $250 to $1,000 minimum opening deposits
    • High early withdrawal penalties
    • Only branches are in Kansas City, MO
    • Limited customer support hours
    • Online bank with branches in Kansas City, MO
    • Term lengths ranging from 3 months to 5 years
    • Early withdrawal penalties are as follows: 90 days interest for terms of 3-6 months; 180 days interest for 12-month terms; 360 days interest for terms of 24-36 months; 540 days interest for terms of 48-60 months
    • Open a 1-year Add-to Starter CD on top of another CD term for no opening deposit, and add more money for the first year
    • Interest compounded daily, paid monthly
    • FDIC insured


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    Banks typically limit you to depositing money into your CD once, when you open the account. But NBKC lets you open an additional Add-to Starter CD. Once you’ve opened your main CD, add a one-year Starter CD with no opening deposit and continue to deposit money into it throughout the year.

    Money market

    Annual Percentage Yield (APY)

    0.15% APY

  • Pros & Cons
  • Details

  • Pros
    • Competitive APY
    • No monthly service fees
    • No minimum opening deposit
    • $0.01 minimum balance to earn interest
    • Debit card included
    • Paper checks included
    • Reimburses up to $12/month for out-of-network ATM fees
    Cons
    • Only branches are in Kansas City, MO
    • Limited customer support hours
    • Online bank with branches in Kansas City, MO
    • Free access at over 34,000 MoneyPass ATMs
    • MasterCard debit card and paper checks included (optional)
    • FDIC insured
    • Interest compounded daily, paid monthly

    If you’re looking for a money market account, the NBKC Money Market Account is a strong option. This account pays a solid APY, and unlike many banks, NBKC doesn’t require a minimum opening deposit.

    The main appeal of a money market account over a traditional savings account is that it typically makes it easier to access your money than a savings account does. Some banks will send you paper checks, a debit card, or both. NBKC sends you both a debit card and paper checks, making it especially easy to tap into your savings.

    How NBKC Bank works

    NBKC is an online bank, but you can bank in person if you live near a branch in Kansas City, Missouri. You have free access to over 34,000 MoneyPass ATMs. If you use an out-of-network ATM and the provider charges a fee, NBKC will reimburse up to $12 per month.

    The NBKC mobile app doesn’t have many online reviews yet. So far, the app has received 4.2 out of 5 stars in the Apple store, and 4 out of 5 stars in the Google Play store.

    You can call customer support Monday through Friday, 8:00 a.m. to 5:00 p.m. CST. NBKC doesn’t offer customer support on weekends, and there’s no live online chat feature.

    All of your deposits are FDIC insured for up to $250,000, or $500,000 for a joint account.

    Is NBKC trustworthy?

    The Better Business Bureau gives NBKC Bank an A+ in trustworthiness. A great BBB score signals that a company is honest in its advertising, is transparent about business practices, and responds effectively to customer complaints.

    NBKC doesn’t have any current public scandals. Between the clear history and strong BBB score, you may decide you’re comfortable banking with the company.

    How NBKC Bank compares to similar banks

    We’ve compared NBKC with two other

    online banks
    that pay high rates: Ally and Capital One.

    NBKC Bank review vs. Ally review

    NBKC and Ally both give you the ability to set and name savings goals. Ally has a separate savings and checking account, so if you prefer to keep it all in one account, then you might like NBKC.

    You also might prefer NBKC if earning a decent interest rate on your checking balance is important to you. Ally pays interest on your checking account, but it may not be as high as what the NBKC Everything Account pays.

    Ally does have good customer service, though. You can contact a live representative 24/7, either over the phone or via online chat. Its mobile app is also very robust, with mobile check deposit and ATM locator features.

    NBKC Bank review vs. Capital One review

    Capital One doesn’t have a money market account, so you’ll want to go with NBKC if having a money market account is important to you. And although Capital One pays interest on your checking account, it isn’t as high as what NBKC pays.

    Unlike NBKC, Capital One lets you open separate checking and savings accounts for minors, so it could be a good bank for families.

    You also may prefer Capital One if you want more customer service options. Its phone hours are extensive, and you can chat online with a live representative 24/7.

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