UMB Bank, National Association is headquartered in Kansas City and is the largest bank in the state of Missouri. It is also the 57th largest bank in the nation. It was established in 1902 and as of December of 2021, it had grown to 2,800 employees at 104 locations. UMB Bank, National Association has a B+ health rating.
My Experience With Umb Bank
They are incredibly kind to me. I first had a biz account, and despite the failure of my startupn, they were always respectful, even kind.
I went back to the same neighborhood branch later, and it was like coming home. Perhaps I am better with people I know, but their service has never been less than courteous.
The neat thing about my checking is having the option to choose no overdraft fees, and how they took in my deposit before it came to any problem. They are always good to work with. Maybe online isn't everything.. but my UMB branch has it all together.
Be Aware Of Limitations!
To setup money market account you must go to local branch, can't do online.
Don't try to setup online banking yourself, have banker do it. VERY easy to get locked out as physical address is used in verification and must be exact. You aren't provided with actual recorded address as banker enters.
Maximum transfer in amount is $10,000 per day AND is not available for 5 business days.
Worst Experience Ever
UMB is the WORST HSA provider ever had in my life.
They charge document fee $1.50 for sending a hard copy of statement, your have MANUALLY change your setting online.
They charge standalone fees of $5.5 per month once you leave your company.
They also charge $25 to close your HSA.
Plus once you are changing investments, they also charge $5.5 per trade for just buy and sell your investment.
You get nothing from UMB but a crazy amount of fees.
Awful Banking
I use to like this bank, now I hate it. I feel like they double charge me for stuff I’ve already paid for. Then when I call in about my account the only thing they do is review my transactions history, no route cause to the problem. Then once a month I will get a credit out the blue, then the credit goes away and my account is some how negative... To top it off I used they’re mobile direct deposit smh why did I do that, another horrible experience. They send me a email saying hey your deposit was received and approved so I go to check my account they only released $200 of my money!! Then told me I have to wait another day for the rest of my money. At this point I’m over this bank. I will be closing the accounts soon and moving to a different bank!!
Data as of Q4 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 8273 |
| Year Established | 1902 |
| Employees | 2800 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.93% |
| Return on Equity - YTD | 11.77% |
| Annual Interest Income | $860.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $42.39B$32.98B |
| Loans | Q4 2021vs Q4 2020 | $16.98B$15.89B |
| Deposits | Q4 2021vs Q4 2020 | $35.81B$27.23B |
| Equity Capital | Q4 2021vs Q4 2020 | $2.97B$2.90B |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $194.8MM$216.0MM |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $94.4MM$89.1MM |
| Real Estate Owned | Q4 2021vs Q4 2020 | $0$4.7MM |
