State Bank of Texas (SBT) Reviews

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Based on 14 review

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Difficult To Do Online With

Attempted to place a Jumbo CD with this bank. After 4 days I heard nothing back from them. Called the number and got an answering machine. Left message. No response. Called again, again answering machine. Left message. Finally they responded. Told them I could not do business with a bank that does not respond nor takes days to process deposits. Halfway through a sentence they hang up on me. That's great customer service. NOT. Then I get an e-mail saying they will not take my CD because of bad credit information. Check my score it is around 790. Don't do business with these people.

Online Application Experience - Lousy!

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Tried twice to open Certificate of Deposit.
Couldn't even get past the online Application process without processing errors in their software:
Tried calling them: "Sorry, our two employees in that department are busy- would you like to call back or leave a voice mail?"
State Bank of Texas(SBT) isn't ready for the big time, obviously if they don't even have the software to process a new account application.
This bank needs a new Chief Technology Officer, and sooner rather than later.

"Sorry! There was an error.
Whoops. Something went wrong, and we could not load the page you were trying to load. Try the URL again or start a new application.

Need help with your application or something else? Don’t hesitate to contact our support team at 972-252-6000."

Return to State Bank of Texas home page.

Very Challenging Web Interface

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Been trying to set up a CD account for 4 days now...may ultimately just have to drive to a local branch. The interface mysteriously inserted my middle name into my account co-applicant's profile which I only caught during the final review...and their is no way to back out an 'fix' this. All other items uploaded correctly (TDL, Multi-Party Form, etc) but it's still a VERY very glitch-prone interface. Customer Service claims it would be fixed by their banker on their end (?) Anyway, I'm quickly losing interest in their product after 4 days of working their online tool.

State Bank Of Texas "Bait And Switch" Scheme

Do not use this bank! Their money market accounts were showing online as some of the highest in the country so I opened an account. I noticed ongoing advertising of high rates but did not see these high rates being paid to my account. When I called "Christina" the "assistant manager" she said "those higher rates are for a 'different product'". Different product? Ridiculous! I had deposited the max covered by FDIC! She was also very obnoxious and kept interrupting me constantly so I could barely say anything. Also, when I requested a form to wire my money out of the account, she refused and said someone else would have to call and ID me and send me the form. AVOID THIS BANK AT ALL COSTS!

There Are Far Better Options

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State Bank of Texas: Very high ($100k) minimum balance requirement to earn interest, very high (25k) minimum balance to avoid a month fee, poor online banking, no ability to link to an external account for ACH transfers and an absurdly cumbersome new account application that was clearly written by an anal-retentive attorney.
Follow up to my initial comments: I just got off the phone with a rep who confirmed that I cannot link my Jumbo MM account to any external accounts. To make a new deposit, I must wire funds from another bank or mail them a check. Furthermore, they are currently offering a much higher rate than I have. They do not pass along interest rate increases to existing customers. Lousy way to treat a customer!

Kind Of Clunky Internet Banking

Typical of small brick and mortar banks which attempt to solicit out of market deposits, SBT has apparently patched together various purchased software to support their internet banking.

Most importantly, this seems to have resulted in many steps to the account opening process, but worse, there is a one day delay in response time between each step. It took an entire week and a half from initiating the account opening request to the funding my account (including micro deposit reporting routine), then several more days to get online banking up and running.

The website and some of the online forms lack necessary information resulting in several phone calls. For example, I could not find SBT’s routing number on their website. And, their online banking agreement says there are limits to transfers, but does not state what they are, rather indicating they ‘may’ be available on the transfer funds screen, but none such exists in my experience. Luckily DA had called to get clarification on this point (see Competitive Jumbo MMA link above). UPDATE:
Today, 8/24, I attempted to make a large transfer from a linked bank to SBT (using SBT online banking). A pop up appeared telling me that I had exceeded the transfer limits of:
Incoming $15,000 per day and $30,000 per month
Outgoing $5000 per day and $10,000 per month

All of this is not really a problem sufficient to deter one from seeking the above average (jumbo) MMA rate, just a point of frustration. Since there are few posts evaluating this bank, I thought I’d give those interested a heads up.

P.S. This is a real bank, no hard credit pull to open a deposit account

Nonsense Of A Bank

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So many banks have a much more APY. And this bank wants a minimum balance of $100,000 for their abysmal APY?

Awful Customer Service

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I called this bank on TWO separate occasions inquiring about its Jumbo Money Market account. I had to leave messages both times, but nobody ever called me back.

I find this to be incredibly unprofessional and bad business on their part since I was looking to deposit $100,000 and not open a Christmas Club account with $100.00!

I'm shocked by their incompetence.

Money Market Account

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Beware- when balance falls below $25,000 there is $20 monthly fee-

Shaky Start

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We decided to open a jumbo money market account at the Garland branch based on the excellent rate. The sign up experience was shaky. We had to ask for both checks to be sent to us and a receipt for our deposit, among other things. I keep waiting for a phone call telling me they forgot something

Account Opening

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The Chicago office said you must go into one of the branches to open an account. It can't be done online or by snail mail.

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