Since I last wrote about Vista Bank’s two reward checking accounts (RCA) in 2016, there have been three significant changes: 1) both VistaSmart Checking (2.49% APY on qualifying balances up to $30k) and Vista Checking (1.49% APY on qualifying balances up to $30k) had rate drops of 102 bps about six months ago; 2) the market area has expanded from three Texas Panhandle counties to all of Texas; and 3) an online application has been added to Vista Bank’s website. Both RCAs earn 0.25% on qualifying balances over $30k and 0.05% APY on non-qualifying balances.
|2.49*%||-||$30k||Vista Bank||VistaSmart Checking|
|OTHER TIERS: 0.25% → $30k+|
Unlike the majority of RCAs, the VistaSmart Checking has a monthly service fee ($4.99); this can be waived by meeting the qualifying requirements. The VistaSmart Checking account can be opened with a $100 minimum deposit. ATM fees (both nationwide and foreign) will be reimbursed up to $25 per month, if the qualifying requirements are met. Unlimited check writing is available and checks are free. As you might expect, the higher APY RCA comes with a more demanding set of monthly qualifications requirements.
- At least 30 debit card purchases.
- At least two Direct Deposits or ACHs.
- Receive eStatements.
When I first wrote about the VistaSmart Checking in 2010, the Vista Checking account didn’t exist. Added to the product line in late 2016, the Vista Checking account is fee-free, but does require a $100 minimum opening deposit. Nationwide ATM fees will be reimbursed up to $25, if the qualifying requirements are met. Unlimited check writing is available and the first box of check is free.
Compared to the VistaSmart Checking, the Vista Checking monthly qualification requirements are cut in half.
- At least 15 debit card purchases.
- At least one Direct Deposit or ACH.
- Receive eStatements.
Both VistaSmart Checking and Vista Checking customers qualify for a 0.25% per annum interest rate discount on consumer loans, if auto-draft is set up on consumer loan.
Headquartered in Dallas, Vista Bank now offers its VistaSmart Checking and Vista Checking accounts to all U.S. citizens and resident aliens who live in Texas.
Opening a VistaSmart Checking account or a Vista Checking account can be done online, or at any of the 14 full-service Texas branches located in Abernathy, Austin, Dallas, Fort Worth, Hale Center, Hamlin, Idalou, Lubbock (3), Petersburg, Plainview, Ralls, and Rule.
In order to serve you better, in many locations you will soon note the addition of curbside banking. You can utilize this service to pick up debit cards, make a wire transfer, request a notary and more.
If you require cash services, you will still need to use the drive-thru.
To utilize curbside banking, please pull into one of the designated parking spots, call the provided number on the sign, and a Vista banker will come to the car to help you.
Vista Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.16% (excellent) based on June 30, 2020 data. In the past year, Vista Bank has increased its total non-brokered deposits by $165.18 million, an excellent annual growth rate of 24.57%. Please refer to our financial overview of Vista Bank (FDIC Certificate # 1210) for more details.
On January 25, 1912 the doors opened for the first bank in the new town of Ralls under the name of W.E. McLaughlin, Banker1 Unincorporated, with a capitalization of $11,000. It was an unincorporated private bank.
And so began the journey of Vista Bank, one of the very few 100-year old banks in Texas still operated by the founding family. For the history buffs in DA's readership, Vista Bank’s Who We Are page details the Bank’s 108-year history. With assets in excess of $1.1 billion, Vista Bank is currently the 71st largest bank headquartered in Texas.
How the VistaSmart Checking Compares
When compared to the High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available to all Texas residents and have maximum qualifying balances of at least $30k, Vista Bank’s VistaSmart Checking APY currently ranks first.
|Interest Rate||Account Name||Credit Union/Bank|
|2.49% APY||VistaSmart Checking ($30k max)||Vista Bank|
|2.01% APY||Kasasa Cash ($50k max)||First Security Bank & Trust|
|1.77% APY||Kasasa Cash Checking ($50k max)||Texas Bank Financial|
The above rates are accurate as of 9/21/2020.
To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.