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.

Second Chance Banking

Woodforest Bank is a bank located within Walmart stores. It is a second chance bank for people who cannot get bank accounts otherwise. I was really excited to find this bank because I really needed a second chance. I have banked with Woodforest for the past two years. There fees for using debit cards and making withdrawals are very reasonable. I have a special feature on my checking account where I am able to overdraw without penalty. That certainly comes in handy when I have unsuccessfully balanced my check book and overdrew. I would recommend this bank to other people needing a second chance. The start up fee is very reasonable and Woodforest meets all of their customers banking needs.

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!!

Enough Is Enough !

Posted by: |

I've had it with Woodforest National Bank. I use to love this bank, but my recent experience with them shows their true colors. I owe back State taxes and the State sent Woodforest a Lien on my assets and instructed the bank to mail the State a check. The amount of the tax is $5,623.25. (Ouch, I know). My checking account has had very low activity for the last couple years, since I'm using another bank. I only use the Woodforest checking account to transfer amounts from another bank to pay down my loan. The loan is a different account other than the checking account.
So when Woodforest received this order from the State, all they had to do was look at my current balance of under a $100 and monthly activity to see that it was unrealistic to obtain the funds. What did they do out of banker's greed? They went ahead executing the order and put a pending charge on my account for the full $5,623.25 (knowing they weren't going to get it) so they would have a legitimate reason to charge me their $150 "LEGAL FEE - NY State/Li" on 10/19/2023. Now, all of a sudden, they're lawyers charging legal fees. Woodforest Bank was unsuccessful to mail the State anything and the pending charge of $5,623.25 vanished.
After realizing the situation, I mailed Woodforest a letter dated 10/31/2023 (BOO !) stating I disputed and wouldn't pay their legal fee and instructed them to close my checking account. Any response to my letter? No. Just automated notices of overdrawn, overdrawn, overdrawn. Current balance is -$102.89. Don't they have any humans working there? Just automated notices.
I was going to keep this affair between the bank and me, but when I saw all these other complaints, I felt that I should share my story as well. Thank you.

RUN!!!! AND DONT LOOK BACK!!!

Posted by: |

If you are not a customer of Woodforest Bank, consider yourself lucky. I bank with several corporations and this one is by far the worse. This corporation allows their employees to manipulate and fraud their customers. You can tell that this is common for this corporations because when you try and call and report their staff, they wear you down by constantly referring you to another department. I'm going to share one of the many incidents. A customer comes in and asked them how long would it take to cash the certified cashier check from the government (which can be verified with one phone call) they told her 24 hours. So she opened an account to cash her tax refund check. After opening the account they held her money hostage (so they can collect interest off her money) told her that she could not get her money until 10 days later. The reason why I bring up this particular incident is because I seen them con several individuals the same way and all of them was minorities. This situation calls the person to fall behind on their payments to their house and went into bad standings. This bank is a criminal enterprise. They should be investigated and sued. I really hope someone goes viral and expose them for the crooks that they are. And If you are in North Carolina and trying to bank with a corporation, woodforest should not even be an option. Their days are numbered. I really dislike slick deceitful companies. They are holding people money to collect interest for their own personal gain and giving their customers the middle finger.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #23220
Year Established1980
Employees4621
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.97%
Return on Equity - YTD23.96%
Annual Interest Income$364.8MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$9.26B$8.84B
LoansQ3 2023vs Q3 2022$6.48B$5.85B
DepositsQ3 2023vs Q3 2022$7.97B$8.07B
Equity CapitalQ3 2023vs Q3 2022$777.3MM$707.4MM
Loan Loss AllowanceQ3 2023vs Q3 2022$92MM$82.5MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$32MM$77.3MM
Real Estate OwnedQ3 2023vs Q3 2022$12.1MM$748K
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.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Woodforest National Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$10k*-Personal Savings
OTHER TIERS: 0.35% Up to $10k
0.50%*$10k*-Business Savings
OTHER TIERS: 0.25% Up to $10k

Woodforest National Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%*$500k*-Emerald Elite Money Market
OTHER TIERS: 2.00% Up to $100k | 2.50% $100k - $250k | 3.00% $250k - $500k
0.50%--Business Money Market
0.35%--BIG Money Market

Woodforest National Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%--Personal Platinum Plus Checking
0.35%$1k-Personal Choice Checking
0.35%--Business Plus Checking
0.15%$1k-Personal Sterling Advantage Checking

Woodforest National Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.75%$500-8 Month CD Special
4.75%$500-Business 8 Month CD Special
4.25%$500-13 Month CD Special
4.25%$500-Business 13 Month CD Special
3.35%$500-6 Month CD
3.35%$500-Business 6 Month CD
3.00%$500-3 Month CD
3.00%$500-Business 3 Month CD
1.70%$500-1 Year CD
1.70%$500-Business 1 Year CD
1.55%$500-2 Year CD
1.55%$500-Business 2 Year CD
1.40%$500-3 Year CD
1.40%$500-Business 3 Year CD
1.35%$500-5 Year CD
1.35%$500-Business 5 Year CD
1.30%$500-4 Year CD
1.30%$500-Business 4 Year CD
0.20%$500-1 Month CD
0.20%$500-Business 1 Month CD
0.05%$500-Business 14 Day CD

Woodforest National Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$500-1 Year IRA
1.55%$500-2 Year IRA
1.40%$500-6 Month IRA
1.40%$500-3 Year IRA
1.35%$500-5 Year IRA
1.30%$500-4 Year IRA
Locations

Availability

Houston Area

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