Overview / Commentary
2515 Mckinney Ave, # 1100
Dallas, TX 75201

NexBank is headquartered in DALLAS and is the 9th largest bank in the state of Texas. It is also the 118th largest bank in the nation. It was established in 1934 and as of March of 2024, it had grown to 104 employees at 3 locations. NexBank's money market rates are 7X the national average, and it has a B+ health rating.

Reviews (5)

Decent Bank With Good Current Rate

Posted by: |

I have purchased CDs thru Nexbank off and on for a number of years. Like any other bank when they need money they will have attractive rates then when they meet their goal the rates will get cut. I have purchased the CDs both in person at their brick and mortar location as well as online. I haven’t had any problems with service on purchasing or closing the CDs. They use the Plaid system on their online platform which I’m not crazy about but so far I haven’t had an issue. I just recently opened a 12 month promotional CD that was offered. Online application was easy. Decent bank that currently has competitive rates.

Rough Start

Posted by: |

This bank will not assign an account number to you until your initial deposit is fully received. This is problematic as there is no way to check the progress of the account opening. Days are spent waiting for the bank to communicate with you. And nothing occurs.
In my case, two days after my account opened, I finally learned about it after initiating an e-mail.
Poor policy. And poor customer service.

Bad Customer Experience

Posted by: |

(1) Online presence is awkward to use. (2) Opted to establish a "link" to my personal checking account in order to transfer in and out. Applied online and received approval in just a day or two. But, when I tried to transfer out funds upon CD maturity I was told that out-of-state accounts could not be used. (3) In order to withdraw funds I had to send a notarized letter, a ridiculous requirement that only added to the "float" time they benefit from. (4) Trying to speak with anyone at the bank was difficult and you have to leave a message and wait for a return call. Played 'telephone tag.'
Certainly will not patronize this bank again!

Don't Waste Your Time

Tried to open up an online CD today b/c I read a review mentioning they use Plaid. I've been using Plaid for over a decade without issue. I started opening the account on the NexBank website, when it came time for Plaid, Plaid asked me to use NexBank credentials. I didn't have any account number yet with NexBank so I called the bank and asked for online banking. The woman told me it was asking me for credentials of my bank that I was transferring funds from. I read it to her twice that it was asking for NexBank credentials. She insisted it was asking me for my bank info. At that point, I knew she didn't know what she was talking about and don't want to do business and have my money tied up in limbo with a bank and their employees that have no clue. I can get 5% for one year all day long so the extra of .40% isn't enticing for all the aggravation it would cost me.

WARNING: NO ACH Out Upon CD Maturity

Posted by: |

This bank does NOT send your maturity funds via ACH out. I spoke with a CSR at the bank, and he informed me that you have to send them a letter (probably a notarized letter) requesting closure of the CD account upon maturity and they will MAIL YOU A PHYSICAL CHECK. This is an antiquated and dangerous practice in this day and age. Think about delays in mail delivery or if your check gets misplaced in the mail. Then you have a lot of hoops to go through to get your money back (which you could have invested elsewhere had they sent you via ACH). For a little extra APY, I would NOT go through this hassle. Peace of mind comes first.


Health Grade Components

FDIC Certificate #29209
Year Established1934
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.99%
Return on Equity - YTD12.37%
Annual Interest Income$216.2MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$15.8B$15.18B
LoansQ1 2024vs Q1 2023$9.76B$9.61B
DepositsQ1 2024vs Q1 2023$11.72B$10.69B
Equity CapitalQ1 2024vs Q1 2023$1.3B$1.17B
Loan Loss AllowanceQ1 2024vs Q1 2023$51.8MM$49.9MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$97.3MM$31.2MM
Real Estate OwnedQ1 2024vs Q1 2023$1.1MM$583K
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Always verify rates and promotions with the bank or credit union. We are not NexBank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

NexBank Savings Account Rates

1.50%$0-Savings Account

NexBank Money Market Rates

3.25%*$100k*-High-Yield Money Market Savings
OTHER TIERS: 2.25% $1k - $100k

NexBank Checking Account Rates

1.00%$1-Platinum One Checking

NexBank CD Rates

5.40%$25k$100k12 Month Promotional Online CD - New Money
5.35%$10k$25k12 Month CD
5.25%$10k$25k6 Month CD
5.20%$25k$100k6 Month Promotional Online CD - New Money
4.80%$10k$25k3 Month CD
4.80%$10k$25k24 Month CD
4.75%$10k$25k18 Month CD
4.75%$25k$100k3 Month Promotional Online CD - New Money
4.55%$10k$25k36 Month CD
4.45%$10k$25k48 Month CD
4.25%$10k$25k60 Month CD

NexBank Locations
Nexbank, SSB2515 Mckinney AveDallas, TX 75201
Preston Center Branch6121 Luther LaneDallas, TX 75225
Mckinney Branch2515 Mckinney Avenue, Suite 1700Dallas, TX 75201

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