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 120th largest bank in the nation. It was established in 1934 and as of March of 2023, it had grown to 102 employees at 3 locations. NexBank's money market rates are 7X the national average, and it has an A health rating.

Reviews (4)

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!

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 - YTD0.94%
Return on Equity - YTD11.8%
Annual Interest Income$170.0MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$15.18B$11.72B
LoansQ1 2023vs Q1 2022$9.61B$6.83B
DepositsQ1 2023vs Q1 2022$10.69B$9.24B
Equity CapitalQ1 2023vs Q1 2022$1.17B$924.1MM
Loan Loss AllowanceQ1 2023vs Q1 2022$49.9MM$44.3MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$31.2MM$39.1MM
Real Estate OwnedQ1 2023vs Q1 2022$583.00K$0
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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%--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

5.60%$100k$5m12 Month Promotional Online Jumbo CD - New Money
5.60%$25k$100k12 Month Promotional Online CD - New Money
5.50%$100k$5m6 Month Promotional Online Jumbo CD - New Money
5.50%$25k$100k6 Month Promotional Online CD - New Money
5.35%$10k$25k12 Month CD
5.25%$10k$25k6 Month CD
4.80%$10k$25k3 Month CD
4.80%$10k$25k24 Month CD
4.75%$10k$25k18 Month CD
4.75%$100k$5m3 Month Promotional Online Jumbo CD - New Money
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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