Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
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Bank of South Texas Savings Account
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Bank of South Texas Regular Checking Account
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Bank of South Texas CD
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Bank of South Texas Money Market Savings Account
Annual Percentage Yield (APY)
Minimum deposit
Annual Percentage Yield (APY)
Minimum deposit
Annual Percentage Yield (APY)
Minimum deposit
Annual Percentage Yield (APY)
Minimum deposit
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On Bank of South Texas’s site. Bank of South Texas, FDIC Insured
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On Bank of South Texas’s site. Bank of South Texas, FDIC Insured
Start saving
On Bank of South Texas’s site. Bank of South Texas, FDIC Insured
Start banking
On Bank of South Texas’s site. Bank of South Texas, FDIC Insured
Bank of South Texas Review: Overall Rating
| Feature | Insider rating (out of 5) |
| Checking | 3.25 |
| Savings | 3.75 |
| CD | 3.75 |
| Money market account | 3.75 |
| Trustworthiness | 5 |
| Total | 4 |
Bank of South Texas Pros and Cons
| Pros | Cons |
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About Bank of South TexasÂ
Bank of South Texas is a Hispanic American-owned bank with six branches in Texas (Pharr, McAllen, Kingsville, Hebbronville, Mission, and Edinburg). There are 55,000 free ATMs nationwide in the Allpoint network.
Call or visit a branch Monday through Thursday 8 a.m. to 5 p.m. CT or Fridays from 8 a.m. to 5:30 p.m. CT. The Pharr, McAllen, and Mission lobbies are also open Saturday mornings.
The bank offers mobile banking, but you’ll have the contact a bank representative for more information.Â
Your accounts are FDIC-insured for up to $250,000, or up to $500,000 for joint accounts.
The Role of Hispanic American-led Financial Institutions
Hispanic American-owned financial institutions are integral to providing products and services to underserved communities. These institutions also help address banking gaps among Hispanic American communities.
Bank of South Texas focuses on providing agricultural loans to support the community. It also is involved in local community events, such as 5k runs.
Is Bank of South Texas Trustworthy?
Bank of South Texas does not have any public controversies.
The Better Business Bureau gives Bank of South Texas an A+ rating. A strong BBB grade indicates that a company effectively responds to customer complaints, advertises honestly, and is honest about business practices.
A good BBB score doesn’t guarantee that you’ll have a strong relationship with a bank, though. You may still want to ask friends and family about their experiences or read online customer reviews.
Bank of South Texas Account Reviews
Bank of South Texas Regular Checking Account
Fees
up to $8 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$50
- $50 minimum opening deposit
- Monthly service fee of up to $8
- $35 overdraft fee
- $12 overdraft protection fee when the bank sweeps money from savings into checking
- $2.50 out-of-network ATM fee
Insider’s Take
Bank of South Texas pays higher CD rates than most brick-and-mortar banks, and may be a good option if you live in Texas. However, the best high-yield savings accounts at online banks still offer better rates.
Bank of South Texas Regular Checking Account
Product Details
- Hispanic American-owned bank
- 6 branches in Texas
- 55,000 free ATMs in the Allpoint network
- Waive monthly fee with a minimum $700 balance; $8 monthly fee with balance between $0 and $199.99; $6 monthly fee with balance between $200 and $499.99; $4 monthly fee with balance between $500 and $699.99
- Member FDIC
The bank has several checking account options. You may like the Bank of South Texas Regular Checking Account if you can maintain a $700 balance, because then you won’t pay a monthly fee.
Bank of South Texas Savings Account
Fees
$5 monthly service fee
Annual Percentage Yield (APY)
0.00% to 0.30%
Minimum Deposit Amount
None
- No minimum opening deposit
- Easy to waive $5 monthly service fee
- Free ATM card
- Competitive interest rate
- $5 monthly service fee
- Limited to 9 free withdrawals/transfers per quarter, then $5 per transaction
Insider’s Take
Bank of South Texas pays higher CD rates than most brick-and-mortar banks, and may be a good option if you live in Texas. However, the best high-yield savings accounts at online banks still offer better rates.
Bank of South Texas Savings
Product Details
- Hispanic American-owned bank
- 6 branches in Texas
- 55,000 free ATMs in the Allpoint network
- Waive $5 monthly service fee by maintaining a $50 daily balance
- No interest earned for the month if daily balance falls under $50
- Interest compounded daily, paid quarterly
- Member FDIC
The Bank of South Texas Savings Account pays a decent interest rate compared to other brick-and-mortar banks, and you just need a $50 balance to waive the monthly fee. But you can only make nine withdrawals per quarter before the bank imposes a fee — many banks let you make six withdrawals per month from savings.
Bank of South Texas CD
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.35% to 5.88%
Minimum Deposit Amount
$1,000
- Competitive APY
- $1,000 minimum opening deposit
- Longest term length option is 3 years
- High early withdrawal penalties
- Interest only compounds quarterly
Insider’s Take
Bank of South Texas pays higher CD rates than most brick-and-mortar banks, and may be a good option if you live in Texas. However, the best high-yield savings accounts at online banks still offer better rates.
Bank of South Texas CD
Product Details
- Hispanic American-owned bank
- 6 branches in Texas
- Terms range from 6 months to 3 years
- If you withdraw money before CD matures, you’ll pay the interest you’ve accrued
- Interest compounded quarterly, paid quarterly
- Member FDIC
The Bank of South Texas CD pays high interest rates, especially compared to other brick-and-mortar banks. But the longest term length is three years, while many institutions have terms up to five years.
Bank of South Texas Money Market Savings Account
Fees
$10 monthly service fee
Annual Percentage Yield (APY)
0.00% to 0.60%
Minimum Deposit Amount
$100
- Competitive APY
- $100 minimum opening deposit
- Order paper checks
- $10 monthly service fee
- No debit card
- Interest only compounds monthly, not daily
Insider’s Take
Bank of South Texas pays higher CD rates than most brick-and-mortar banks, and may be a good option if you live in Texas. However, the best high-yield savings accounts at online banks still offer better rates.
Bank of South Texas Money Market Savings Account
Product Details
- Hispanic American-owned bank
- 6 branches in Texas
- Waive $10 monthly service fee by maintaining a $2,500 minimum daily balance
- No interest earned for the month if your daily balance falls under $2,500
- Interest compounded monthly, paid monthly
- Member FDIC
You might like the Bank of South Texas Money Market Savings Account if you can maintain a $2,500 balance. Then you will earn interest and waive the $10 monthly service fee. You can also make up to six withdrawals per month, which gives you more flexibility than the regular savings account.
How Bank of South Texas Compares
Bank of South Texas vs. Lone Star National BankÂ
Lone Star National Bank has many more branches than the Bank of South Texas, so it may be a more convenient option if you’re searching for a location that’s close to where you live.
Bank of South Texas pays higher CD rates than Lone Star National Bank, though. Its 1-year term offers a high APY that’s on par with the best CD rates.
Lone Star National Bank Review
Bank of South Texas vs. Texas National BankÂ
Choosing between the two local financial institutions may ultimately depend on where you live. Texas National Bank has eight locations (Brownsville, Edinburg, Elsa, McAllen, Mercedes, Mission, San Juan, and Weslaco). Meanwhile, the Bank of South Texas has six locations (Pharr, McAllen, Kingsville, Hebbronville, Mission, and Edinburg).
You also might want to consider which features you prioritize most in a bank account. Texas National Bank pays higher rates on its savings account, but Bank of South Texas makes it is easier to waive the monthly service fee.Â
Texas National Bank Review
Why You Should Trust Us: How We Reviewed Bank of South Texas
At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using our banking methodology and CD methodology.
Each account receives a rating between 0 and 5. We evaluate a bank’s ethics, customer service, and mobile app for all accounts. We also consider different features for specific types of bank accounts. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.
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