Average User Rating:2 star rating based on 2 reviews.
Southern Community Bank & Trust
Southern Community Bank & Trust Locations| P.O. Box 26134 Winston-Salem, NC 27114 (888) 768-2666 www.smallenoughtocare.com  |
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Southern Community Bank & Trust is headquartered in Winston Salem and is the 13st largest bank in the state of North Carolina. It is also the 428th largest bank in the nation. It was established in 1996 and as of September of 2011, it had grown to 289 employees at 22 locations. Southern Community Bank & Trust's savings rates are 44% higher than the national average, but it has a 2-star health rating.
Southern Community Bank & Trust Routing Number: 053112097
Related Posts
Just one month after the last big rate cut, they did another one. This time the top reward checking yield has fallen from 2.25% to 1.15% APY. The balance cap remains at $25K. This is called the Maximum Earnings Banking account, and this rate is shown on t
Ready Saver, the internet bank from Southern Community Bank & Trust, slashed its savings account yield from 1.35% to 0.90% APY. This applies to all balances.
Ken reported in his Jan. 2 weekly summary that Southern Community Bank and Trust has cut their interest rate on their ME Banking RCA account from 3.0% to 2.25%. The new rate shows on the bank's web site as being effective Jan. 1, 2011. The other fea
Southern Community Bank & Trust is offering a special 18-month CD called the Easy Access CD. It has a competitive yield of 1.50% APY with a minimum deposit of $500. It's called Easy Access because ...
2010
- 12/8 - High Demand of Reward Checking Accounts Forcing Banks to Reduce Availability
- 11/2 - 5 Best Reward Checking Accounts Available Nationwide - Updated for November
- 8/17 - Ready Saver Account Yield Falls To 1.35% (Forum)
- 4/16 - Update on the Ready Saver Account and Clues About Future Rates
- 4/1 - Southern Community Bank & Trust Cuts Reward Checking Rate (Forum)
- 2/15 - New High-Yield Online Savings Account at Ready Saver - Available Nationwide
2009
2008
See Rates for: Checking | Savings | Money Market | CD | IRA
Southern Community Bank & Trust Checking Account Rates
Southern Community Bank & Trust Savings Account Rates
Southern Community Bank & Trust Money Market Rates
Southern Community Bank & Trust CD Rates
Southern Community Bank & Trust IRA Rates
Data for Q3 2011
Institution Statistics
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Institution Health
Overall Score:
2 out of 5 
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New Interest Rate Is 2.25% As Of 1-1-11
- jackstilton - Saturday, January 1, 2011 - 9:18 AMAnother one bites the dust.
http://www.smallenoughtocare.com/other.aspx?show=rates
ReadySaver - Southern Community Bank & Trust
While it boasts one of the highest savings rates of any online bank, the web interface is sub-par.
Web-inerface:
My first impression of the website was that it was extremely slow and nonintuitive. It's an odd mix of flash overlayed on a primitive non-flash webpage. If all you want to do is log in and see your account balance, then their website is fine. However, having been somewhat of a connoisseur of several online banks (e.g. ing, capital one, emigrant, etc) I've come to expect some minimum features that I believe all online websites should have.
For example, there isn't a way to set any e-mail alerts whatsover. I find that particularly annoying because it requires me to log in to confirm when/whether a particular transferred was successful; or to simply be alerted of any unanticipated account activity.
Setting up the ability for ACH transfers was also a hassle because they require a separate authorization form to be approved by an actual customer service representative. That's before you've even set-up any ACH links to the other banking institutions. It took almost 2 weeks to link up my accounts.
Customer Service:
They have live chat during business hours (9-5), which is a nice but necessary feature given that you can't seem to accomplish much with their website alone. When I opened an account, someone at the bank actually sent me a e-mail attached with a pdf document confirming that I had opened an account. Personal, but weird in this day and age.
Overall:
Overall, I find it strange that so many things seem unautomated given that it's an 'online' bank. For me, that gives the uneasy feeling that there is a higher risk of human error than most other online banks. There is also no ability to set-up any e-mail/text alerts for account activities. So, if you can remember to log-in to your account every week to make sure things are okay, then the high interest rate their paying is worth it (for the time being).