Woodforest National Bank


Overview / Commentary
832-375-2000
1330 Lake Robbins Dr.
The Woodlands, TX 77380

Founded in 1980 in Houston, Texas, Woodforest National Bank is a privately-owned bank now headquartered in The Woodlands, Texas. It operates well over 700 branch locations in several different states and offers both personal and business depository banking products.

As far as personal banking products go, Woodforest National Bank offers checking accounts, savings accounts, money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts CDs (IRA CDs). Furthermore, it offers convenient online and mobile banking services to its personal banking customers.

Woodforest’s personal checking accounts offer a variety of interest rates, depending upon the account balance. Additionally, Woodforest offers a “Second Chance” checking account, with higher maintenance fees, for those “who have experienced previous bank account challenges.”

For personal savings options, Woodforest offers money market accounts, savings accounts, CDs with terms ranging from 1 month to 5 years, and IRA CDs with terms ranging from 6 months to 5 years.

On the business side, Woodforest offers both business checking accounts and business loans, in addition to a variety of services. Its business checking accounts offer a range of benefits, depending upon transaction volume and account balance. Much like the “Second Chance” personal checking account, Woodforest offers a “Second Chance” business checking account, for “business customers who have experienced previous bank account challenges.” Finally, there is a business money market checking account option, with competitive variable interest rates. However, like other money market accounts, there is a limit of 6 withdrawals a month. Excessive withdrawals will incur fees.

A Bank That ACTUALLY Cares About Their Customers

Posted by: |

About a year and a half ago, I was looking to open a checking account because another bank had charged me way too much for simple things like calling in and talking to someone at their office ($10 fee). I went to 2 other banks and they refused to open an account for me because of me refusing to pay the ridiculous fees the other banks charged me.

Then I was in my local Walmart and saw a bank there with a sign "2nd Chance Checking" so I stopped in and asked a few questions about their fees and such and then successfully signed up for an account with absolutely no problem. The branch manager, Andrea, personally opened my account and was very kind and friendly.

As the months passed by the tellers at Woodforest got to know me and always were very kind and always called me by my first name when I dropped by to deposit or withdraw money. By the way almost every deposit is available IMMEDIATELY! At the other bank, even though I'm sure they knew me, it seemed like I was just a number to them, maybe because I kept a lower balance than other customers, maybe because I had no huge loans with them, who knows. Also if I made a deposit that wasn’t cash it would take 1-3 business day(s), or more, to be available to me. Not at Woodforesst! The tellers at WOODFOREST always treated me like I had a million bucks in my account.

After having an account there for a year, in good standing, they upgraded my account to a free account with FREE $500 in overdraft protection that they called "privilege pay." At the other banks they made you apply for a line of credit to get overdraft protection, which, of course, they never approved for the average person! Not at Woodforest! They upgraded my account one day I was in there, making a deposit, surprising me! Wow, again making me feel like a treasured client.

At one point in time I had an overdraft, it got paid (thank goodness) and I got charged a $34 fee. Now its worth mentioning that while Woodforest only charged me ONE overdraft fee, the other bank would have charged me about 11 FEES because at my other bank they charged overdraft fees on” pending items” too. Again, NOT AT WOODFOREST. I went in that day and corrected my account making the balance positive and making sure my “pending transactions” didn't get any overdraft fees when they cleared. I talked to the manager that day and she told me that they limit the amount of overdraft fees that someone can incure in one day. Then she told me she would REFUND the overdraft fee if I completed an online banking education class (which took about 10 minutes to do) which was well worth the $34.00 I was refunded.

Another great thing about Woodforest is their online banking. You can log in anytime and see EVERYTHING going on with your account. For example, if I just went to the store and spent $50, there it was right on the screen. If I just got gas, instead of showing $1 it showed the actual amount. This is very helpful, in case you make a mistake. If you overspent, as long as you can make it to the bank before the "pending items" change to "posted items" (about 1-3 days) you can save yourself on fees if you make a deposit and bring your account to a positive balance. My other bank hid the "pending transactions" and just told you a total of them. Like I said earlier in this review, if you make a mistake and over spend, you will be charged fees on EVERY “pending item” that could be as much as $300+. NOT WOODFORREST!

Fast forward about 6 months. I woke up and checked my account online as I always do and there was an ACH for $200 that I did not recognize. It turned out to be fraud. Now this is what impresses me the most about Woodforest National Bank, the Vice President of the entire company (not just my local bank manager or a regional manager) this was the real deal Vice President of the bank (on a NATIONAL executive level) calling me from HIS CELL PHONE! A few questions and he fixed the problem RIGHT AWAY and told me to call him ON HIS CELL PHONE if I ever needed his help again. Now you tell me of a bank where the VICE PRESIDENT personally helped you out when your account only had a balance of $112.00 and gave you his cell phone number for future help if needed! Again, ONE MORE REASON I felt like I had a million dollars in my account.

To summarize, I would highly recommend this bank to anyone who wants a bank that not only says “We care about our customers….” but they ABSOLUTLEY really 100% do care about their customers. Thank you Woodforest for your AMAZING service. It’s the little things your bank does that counts. I’ve had bank accounts with around 25-30 banks in my lifetime and NEVER got the great service from anyone like I have from you. I’m just your ordinary guy who keeps an average of $300-600 in my account with “not so good” credit.  Keep up the good work and everyone will have accounts with your bank! Thank You, from your customer for life!

Woodforest Worst Bank Ever! Do Not Give The You Business

Posted by: |

I had to file a dispute with NTTA for unauthorized charges taken out of my account & had to file one with Woodforest. When I called for an update I was told my dispute was declined because NTTA declined the dispute. So I asked the bank, so that's it! You all accept the first thing the merchant gives you without any real investigation! No verifying the information that was given to you by the merchant!? No push back at all, no fight what so ever for your customers! As a customer I requested certain documentation be sent to NTTA in an attempt to get my money back to repay the temporary credit given by the bank I was told , no I had to do that even though they had sent bank statements back forth to NTTA! THIS IS THE LOUSEST, SORRIEST PIECE OF SHIT OF A BANKING INSTITUTION!! DO NOT GIVE THEM YOUR BUSINESS OR YOUR MONEY TO HANDLE!!

Woodforest Bank Holds On Account

Posted by: |

FYI, in Texas when you use the debit card at the pump.. Woodforest puts a 75.00 hold on your account though you spend only 30-40 and this applies if you use it as debit or credit,,, I tried both ways to test it.

It takes 24 hours for the actual amount to post on Woodforest.... No other Debit card has ever done this... I've had several with different banks,,, It is not the Service Station... I called Woodforest they tried to say it was the Service Station,... NOPE,,, I use different debit cards so I can verify,, it is Woodforest

Certain Banks Have No Ethics - Woodforest Is One Of Them

Posted by: |

I sent a wire transfer to a customer of woodforest, unknowingly sent it to a closed account. They refused to return the money because there was money owed on that account.
I would not have sent to a closed account and Woodforest knows this, but still refused to return the money, saying oh well, that I knew what I was doing. I asked them...why would I send money to a closed account. Their answer...too bad.

This bank is not one you should deal with. They have no customer service, but they do have one thing you should be aware of. Greed. This is the most unethical, greedy bank and you should avoid dealing with them. For goodness sakes, what happens to people who borrow from them?
Pick a bank with a decent reputation, not one like this.

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Health

Health Grade Components

Overall
FDIC Certificate #23220
Year Established1980
Employees4425
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD2.21%
Return on Equity - YTD28.44%
Annual Interest Income$144.0MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$9.24B$9.46B
LoansQ2 2022vs Q2 2021$5.87B$4.90B
DepositsQ2 2022vs Q2 2021$8.35B$8.72B
Equity CapitalQ2 2022vs Q2 2021$674.3MM$694.4MM
Loan Loss AllowanceQ2 2022vs Q2 2021$86.3MM$72.7MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$67.0MM$36.5MM
Real Estate OwnedQ2 2022vs Q2 2021$748.00K$2.5MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Woodforest National Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Woodforest National Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%*$10k*-Personal Savings
OTHER TIERS: 0.03% Up to $10k
0.05%--Business Savings

Woodforest National Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$250k*-Emerald Elite Money Market
OTHER TIERS: 0.15% Up to $100k | 0.25% $100k - $250k
0.05%--BIG Money Market
0.03%--Business Money Market

Woodforest National Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.08%--Personal Platinum Plus Checking
0.05%$1k-Personal Choice Checking
0.05%--Business NOW
0.03%$1k-Personal Sterling Advantage Checking

Woodforest National Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%$500-5 Year CD
0.25%$500-3 Year CD
0.25%$500-4 Year CD
0.20%$500-2 Year CD
0.15%$500-1 Year CD
0.05%$500-1 Month CD
0.05%$500-3 Month CD
0.05%$500-6 Month CD

Woodforest National Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%$500-5 Year IRA
0.25%$500-3 Year IRA
0.25%$500-4 Year IRA
0.20%$500-2 Year IRA
0.15%$500-1 Year IRA
0.05%$500-6 Month IRA
Locations

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