November 21, 2019

NBKC Bank Review

Read more about NBKC Bank
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Tired of losing your hard-earned money to banking fees? Consider nbkc bank. They make it easy to save, spend, and transfer money online with no-fee bank accounts. Learn everything you need to know about nbkc below.

Pros

  • Online banking offers high interest rates no matter where you live

  • Open a CD with only $25 to lock in higher interest rates

  • Access to over 32,000 fee-free MoneyPass ATMs throughout the country

  • No overdraft or NSF fees

  • No minimum balance to earn the higher APYs

  • Free online banking

  • Link your account to Quicken or QuickBooks for automatic updates

  • Pay bills online for free with a personal checking account

  • Mobile check deposit with the nbkc app

  • No fees for stop payments, cashier's checks, or eStatements

  • Incoming wires are free

Cons

  • Physical branches only in Kansas City

  • CD rates are the same whether you take a 12-month or 60-month CD

  • You can't open a CD online—you must call or visit the branch in person

Services Offered at NBKC Bank

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Primarily an online bank, nbkc has minimal fees, high interest rates, and low minimum balance requirements. It also has four physical branch locations in Kansas City and the surrounding areas.

What Does NBKC Stand For?
The name stands for National Bank of Kansas City. FDIC insured since 1999, nbkc is a community bank that gives anyone in the country the chance to earn higher than average interest rates.

Personal Checking

You can open an nbkc checking account online, in person, on the mobile app, or at an ATM for free. The minimum starting deposit is $5. You'll earn interest on any balance. But higher balances earn more interest.

The bank offers a debit Mastercard and your first pack of starter checks for free. Plus, you'll be reimbursed for $12 of out-of-network ATM fees each month.

There are no:

  • Minimum balances to maintain
  • ATM fees within their 32,000-ATM network
  • Overdraft fees
  • Teller fees

Here are the expenses you may incur with an nbkc checking account:
  • Additional packs of checks are $18 each
  • Non-network ATM fees in excess of $12 per month

Personal Money Market Savings

Earn even interest rates with the nbkc personal money market savings account. You can open an account with just $5 and earn interest if you have $0.01 in your account. You'll have access to the 32,000-ATM network and will receive reimbursement up to $12 per month for using a non-network ATM.

However, under federal law, you're limited to six withdrawals per month with the money market account. While nbkc bank doesn't charge an excessive withdrawal fee if you go over, they reserve the right to transfer your account to a checking account if you abuse the privilege.

NBKC CDs

You have two CD options with nbkc. Keep reading to learn about both.

  • 12-Month Add-to Starter CD
    Open a CD with just $25. You lock in the 12-month CD rate. But you can add to your balance with auto-save (money transferred from your Personal Money Market Savings) each month.

  • Personal CD
    Open a traditional CD with at least $1,000. The personal CDs are available in 3-, 6-, 12-, 24-, 36-, 48-, and 60-month terms.

The bank charges an early withdrawal fee on their CDs. If you take your money out before the CD matures, you'll pay 90–540 days in interest, depending on the term.

How It Compares

Ally Bank
Ally Bank keeps fees to a minimum, too. Their account options include:

  • Interest-bearing checking
  • Savings
  • Money market
  • CDs
  • IRAs

Most accounts have tiered interest rates (the higher the balance, the higher the APY). All Ally accounts have no minimum opening deposit requirement.

Chime
Chime is an interactive banking app. You can open a spending account alone or with a savings account.

Here are the features:

  • Set up automatic savings to round up purchases
  • Get daily balance notifications
  • Qualify for SpotMe overdraft protection
  • No minimum account balances
  • No monthly maintenance fees

Some customers may have access to their direct deposit paychecks two days early with Chime.

Discover Bank
Discover Bank makes banking easy. They offer checking, savings, money market, CDs, and IRA CDs. Their motto is "No Fees. Period." Discover Bank doesn't have any:

  • Monthly maintenance fees
  • Overdraft fees
  • Minimum balance requirement

You manage the account completely online on Discover Bank's website. Plus, you'll have access to over 60,000 fee-free ATMS throughout the country.

Bottom Line

If you're tired of paying fees for your bank account, nbkc is worth a look. But if you can maintain high balances or need specific services, other online banks may be a better fit.

Disclaimer: Opinions expressed here are author's alone. Please support CreditDonkey on our mission to help you make savvy decisions. Our free online service is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

Disclaimer: This content was first published on November 21, 2019. Information including rates, fees, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check the bank's website for updated information.

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