Frost Bank Review 2024
Written by
Edited by
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Frost Bank is best suited for customers living in Texas or for savers looking to open a competitive certificate of deposit. Though accounts are accessible to anyone online, customers living outside of the Lone Star State will find their money is harder to access, given that Frost’s branches can only be found in Texas and the bank has a small ATM network mostly limited within the state.
Highlights
- Highly Rated App
- Top CD Rates
- 24/7 Customer Service
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Frost Bank is a Texas-based institution offering a wide array of financial products and services for consumers and businesses alike. Along with a large range of deposit products, Frost offers investment services, too, making it a great bank to bring all of your financial needs under one roof. Frost is currently offering highly competitive yields on multiple deposit accounts, including certificates of deposit and money market accounts.
However, since Frost is a highly regional bank, you may find it difficult to access your money without incurring fees.
Pros
-
The APY offered for multiple accounts, including CDs and the MMA, are highly competitive.
-
You can open an account with a small amount of money.
-
Customer service is available 24/7.
-
Frost Bank’s mobile app is highly rated, and it includes features such as Zelle and Bill Pay.
Cons
-
There are many fees to watch out for.
-
The ATM network is on the small side.
-
Look out for costly overdraft fees.
We want to know what you think about Frost Bank
Do you have experience with Frost Bank? Let us know your thoughts.
Frost Bank banking products
Frost Bank savings overview
You can open the account with just $50. There’s a $3.50 monthly service fee but there are many ways to waive the fee, including if you make $10 or more in deposits or maintain a minimum daily balance of $300.
Free withdrawals are limited to just two per month, which is a very low limit compared to other banks. (When other banks limit withdrawals from savings accounts, it’s usually capped at six per month.) Frost Bank charges a $3 fee for each withdrawal above that limit.
Pros
-
There’s a low opening deposit requirement.
-
The monthly service fee is easy to waive.
Cons
-
Free withdrawals are limited to just two per month.
-
Higher yields can be found elsewhere.
-
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Frost BankAPYAPY last updated between 5/7 and 5/13.APYAPY last updated between 5/7 and 5/13.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $35 |
| Non-sufficient funds fee | None |
| Monthly maintenance fees | $3.50 - $15 |
| Out-of-network ATM fee | $2 |
| Excessive transaction fee | $3 - $5 |
About Frost Bank
Frost Bank has been a staple bank in Texas for more than 120 years.
The bank was established in San Antonio, Texas, where it’s still headquartered today. Frost has more than 190 branches scattered across Texas and offers a large range of financial products and services, including brokerage accounts for investing and personal insurance. Although Frost has been around since the end of the 19th century, the bank offers a superb online experience, having established their online and mobile banking capabilities since the early 2000s.
Customer experience
Customer service. Customers can reach Frost Bank representatives on the phone, through email or live chat 24/7.
Digital experience. Frost offers a mobile app for users on the Apple App Store and Google Play Store, both of which are highly rated. The apps offer the best of mobile banking, including reaching customer support 24/7, making peer-to-peer transactions through Zelle, depositing checks, making payments through Bill Pay or opening another Frost account.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
Thank you for sharing your experience with Bankrate
