Scottrade Bank is headquartered in Saint Louis and is the 3rd largest bank in the state of Missouri. It is also the 89th largest bank in the nation. It was established in 2008 and as of March of 2017, it had grown to 139 employees at 1 location. Scottrade Bank has a B+ health rating.
Scottrade Bank was the best experience in banking I have ever witnessed. The Bank is set up to support Scottrade's brokerage clients. The only requirement is that you have a qualified Scottrade brokerage account with at least $500 in equity. Scottrade Bank's deposit accounts have no minimum deposit requirements or hidden maintenance fees. Their customer service team is based in St. Louis, Mo, so you are sure to receive a live, domestic operator when needed. In my 4+ years banking with Scottrade Bank, I have called the customer service department on a couple occasions to ask questions and each time was a pleasant experience. the representatives are very knowledgeable and willing to help each and every time.
Scottrade Bank is by far the best internet bank I have ever experienced. You must have a qualified brokerage account with Scottrade, Inc. in order to establish an account at Scottrade Bank, but it is worth it. Scottrade Bank offers competitive rates on their deposit accounts and doesn't include all the unnecessary fluff that other institution's accounts carry. I have never experienced any issues with Scottrade Bank and rarely ever find the need to call their Bank Support department in need for help. On one occasion, I did need to call the Bank Support department in regards to a question I had with setting up my account. I was able to speak to a real, live representative stationed in America, without an automated system. The Bank Support representative was extremely helpful and would happily contact them again if a question were to arise.
Firstly, I just wanted to say that I'm a real person and not an employee of Scottrade or anything.
My fiancee and I both have bank accounts with Scottrade. If you have a normal bank and are sick and tired of the "banker's hours" and the nonchalant charging of your account and the poor customer service, consolidate your assets and move to this bank. No fees, no nonsense. Local brokerage branches are everywhere. You can always get in touch with a real person without navigating through millions of automated call options. During operating hours, your local branch will get all your requests and will even call you by name (if they know you well enough). I can't say enough good things about these guys. But maybe that's because of where we have come from.
My fiancee and I have recently gotten engaged and were looking to start a joint brokerage, banking, and savings accounts. Here is where the story begins. We both have had so many negative experiences with banks -- and I'm just your above-average Joe. I have no credit card debt, no outstanding balances, I have a great credit score, and I float at least a 2k balance in my account a month. I go to school full time and I work full time. My fiancee has just recently graduated law school, and is working as well.
I got so tired of the bankers hours, the mistakes the bank made and the horrible customer service. We both have banked with BB&T, CB&T, and Bank of America. I have to say, Scottrade makes these guys look pathetic. Let's be honest.
For people that are nervous about switching to a bank that does most of its business online, don't be afraid. It's well worth it -- I guarantee you'll like them more than you do your current bank.
-- Email message me if you like. My email is email@example.com.
I enjoy this institution to keep a portion of my money with. I both a checking and a money market account with this bank and use it mostly for savings. I like the ability to direct deposit funds into this account from my payroll, and because there is not physical presence of this bank I also find that the temptation to take out money is less. One feature that I enjoy is the ability to have ATM fees rebated when using any ATM. I really like this because it does not limit where I take funds out from, and often find myself using this card when I have to unexpectedly take out cash. There have been few occasions when I needed to talk with someone about this card but it did happen most recently when I was traveling abroad. I was having trouble finding a solution to get cash while in Europe without having to pay high fees to do so with my other bank. Upon calling them I found out that I was able to do this without any additional fees, and again the ATM fees would be reimbursed. I was a little skeptical about this when I took out money at an ATM in Europe but was happy when it worked just as they described. The bank representatives were very knowledgeable when talking to them about this scenario, and provided excellent customer service.
|FDIC Certificate #||58656|
|Return on Assets - YTD||1.64%|
|Return on Equity - YTD||21.75%|
|Annual Interest Income||$85.9MM|
|Assets and Liabilities|
|Assets||Q1 2017vs Q1 2016||$17.12B$15.93B|
|Loans||Q1 2017vs Q1 2016||$4.23B$2.96B|
|Deposits||Q1 2017vs Q1 2016||$15.74B$14.63B|
|Equity Capital||Q1 2017vs Q1 2016||$1.32B$1.24B|
|Loan Loss Allowance||Q1 2017vs Q1 2016||$21.2MM$16.0MM|
|Unbacked Noncurrent Loans||Q1 2017vs Q1 2016||$15.1MM$10.9MM|
|Real Estate Owned||Q1 2017vs Q1 2016||$0$229.00K|
Sorry, we do not have rate data for Scottrade Bank.
|Scottrade Bank Locations|
|Scottrade Bank||700 Maryville Centre Drive||Saint Louis, MO 63141|