Frost Bank Review
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Edited by
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At a glance
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:
Top CD Rates 24/7 Customer Service Highly Rated AppHighlights:
CDs
Checking
Savings
MMA
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
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 = 5/5
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 Savings rating = 4.2/5
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 Savings rating = 4.6/5
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 which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
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.
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 offers 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 outside of Texas without incurring fees.
Pros
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The APY offered for multiple accounts, including CDs and the MMA, are highly competitive.
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You can open most accounts with a small amount of money.
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Customer service is available 24/7.
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Frost Bank’s mobile app is highly rated, and it includes features such as Zelle and Bill Pay.
Cons
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There are many fees to watch out for.
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The ATM network is on the small side.
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Look out for costly overdraft fees.
Frost Bank banking products
Frost Bank savings overview
Pros
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There’s a low opening deposit requirement.
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The monthly service fee is easy to waive.
Cons
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Free withdrawals are limited to just two per month.
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Higher yields can be found elsewhere.
Rate history for Frost Bank's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Frost Bank CD overview
Pros
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Frost Bank offers highly competitive APYs.
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Withdrawal penalties are reasonable.
Cons
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Interest is paid at maturity, meaning you can’t withdraw accrued interest until your term is completed.
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You won’t find CDs with terms longer than two years for any tier.
Rate history for Frost Bank's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Frost Bank money market overview
Pros
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The account offers a highly competitive APY.
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It takes just $50 to open the account.
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The MMA offers tiered APYs.
Cons
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There’s a $15 monthly maintenance fee, which isn’t easy to waive.
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Withdrawals are limited to six per statement cycle.
Frost Bank checking overview
Pros
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The account earns interest if you maintain at least a $5,000 daily balance.
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Customer support is available 24/7.
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Person-to-person transactions can be made through Zelle.
Cons
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There are a lot of fees to watch out for, including an $8 monthly service fee and a $2 fee for using out-of-network ATMs.
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The ATM network is small.
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Frost’s overdraft fee is higher than the national average.
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 |
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.
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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.
