UMB Bank, National Association
UMB Bank, National Association is headquartered in Kansas City and is the largest bank in the state of Missouri. It is also the 76th largest bank in the nation. It was established in 1902 and as of December of 2019, it had grown to 2,899 employees at 105 locations. UMB Bank, National Association has an A health rating.
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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.
Hidden Fees!
Had an HSA account for 2 months as UMB was the provider for my new employer. Fortunately we changed from UMB. I happened to review my statement. UMB was charging $2.95/month service charge. I only use HSA for incidental health-related services. Found out that you will be charged this unless your account is over $3K. Cancelled my account, got the form and sent in. THEN found out they charged me $25 to close the account!!! So basically I paid $4.90x2 in service fees and $25 in closing costs for ZERO benefits of using UMB. Supposedly am going to get a response call from a supervisor. Still waiting for that. Avoid this company. They will rip you off!!
UMB Money Market Savings
I was pleased with my experience at UMB until I had to close my savings account. I opened the account when UMB offered a promotional interest rate guaranteed for 1 year that was very good. At years end they had no other promo rates available and my interest was going to drop significantly. I found another bank offering a good interest rate and decided to move my account. When I closed the account with UMB I found out that they keep whatever interest is accrued if you close your account in between when it is posted each month. They had full use of my money for that time but kept my interest. I have have never had another bank do this to me before.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 8273 |
| Year Established | 1902 |
| Employees | 2899 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.09% |
| Return on Equity - YTD | 12.2% |
| Annual Interest Income | $862.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $26.36B$23.14B |
| Loans | Q4 2019vs Q4 2018 | $13.34B$12.08B |
| Deposits | Q4 2019vs Q4 2018 | $21.76B$19.49B |
| Equity Capital | Q4 2019vs Q4 2018 | $2.34B$1.93B |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $101.8MM$103.6MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $57.1MM$47.6MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $2.9MM$3.3MM |
