Woodforest National Bank


Overview / Commentary
832-375-2000
1599 Lake Robbins Drive Suite 200
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!

Love them!

Posted by: |

I have had an account with Woodforest National Bank since I was 16(ish) years old and I'm now almost 25. They treated me like an adult from the get-go. It was really easy to set up an account. My branch is in our local Walmart. The staff is super friendly & know me on a first name basis. I'm emailed every morning with an overview of the day before. I get my checks from work deposited a day ahead of everyone else. I've never had an issue with someone stealing my information. Those that I know that've had that problem with this bank has had the issue resolved very quickly. I also love that they have late business hours and are open on weekends, as most banks are not.

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

Reviews Overall Opinion

Posted by: |

I'm not satisfied with the way I have been screwed, not one but several times and I don't recommend that you bank with the Bank, it hurts to say this amd I've been banking there for years, looks like the next move is to Regions.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #23220
Year Established1980
Employees4443
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.67%
Return on Equity - YTD20.55%
Annual Interest Income$239.7MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$8.24B$6.44B
LoansQ4 2020vs Q4 2019$4.91B$4.24B
DepositsQ4 2020vs Q4 2019$7.56B$5.79B
Equity CapitalQ4 2020vs Q4 2019$647.6MM$606.6MM
Loan Loss AllowanceQ4 2020vs Q4 2019$68.3MM$50.4MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$53.4MM$5.0MM
Real Estate OwnedQ4 2020vs Q4 2019$2.6MM$3.5MM
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
0.50%*$250k*-Emerald Elite Money Market
OTHER TIERS: 0.20% Up to $100k | 0.35% $100k - $250k
0.05%--BIG Money Market
0.03%--Business Money Market

Woodforest National Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%--Personal Platinum 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
0.45%$500-5 Year CD
0.35%$500-4 Year CD
0.25%$500-3 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
0.45%$500-5 Year IRA
0.35%$500-4 Year IRA
0.25%$500-3 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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