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North American Savings Bank Review 2024

Updated January 2, 2024
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At a glance

3.8
Rating: 3.8 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 2.9 stars out of 5

Checking

Rating: 3.9 stars out of 5

Savings

Rating: 4.4 stars out of 5

MMA

Rating: 2.6 stars out of 5

About Bankrate Score

Overview

North American Savings Bank (NASB) is good for savers who want liquidity, higher yields and online account accessibility. Customers looking for branch access will need to be located in the Kansas City area; otherwise, banking online with NASB is a good option.

Highlights

  • Highly Rated App
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Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 6/21/2024
Rating: 4.4 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
5.30
%
APY
APY
Info
As of 6/21/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: No account fees, unlimited withdrawals, better for the planet
Bank logo
Member FDIC
Savings Account
5.00
%
APY
APY
Info
As of 6/21/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: Plus, no monthly fees and unlimited free external transfers

Overall

NASB is a mid-size Kansas City bank with brick-and-mortar branches, as well as online banking services, digital wallets and a mobile app. It offers above-average yields on some of its CDs, checking, savings and money market accounts. However, you often need to meet a certain balance requirement to get the highest rates. While many accounts can be opened from anywhere online, some can only be opened in one of the bank’s Kansas City branches.

The bank also has a “switch kit” that helps ease the transfer of funds from other banks.

Pros

  • Checkmark

    The bank’s best yields on deposit accounts are competitive and beat the big traditional banks.

  • Checkmark

    Customers have fee-free access to over 32,000 ATMs, including those in the MoneyPass network.

  • Checkmark

    The bank offers a kit to make it easy for customers to transfer funds from another bank.

Cons

  • You can find banks that pay higher yields.

  • Some accounts — CDs in particular — must be opened at a branch, and branch locations are limited to the Kansas City, Missouri area.

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North American Savings Bank banking products

4.4
Rating: 4.4 stars out of 5
Bankrate Score

North American Savings Bank savings overview

NASB offers seven savings accounts, plus an IRA savings account. The account scored for this review is the High Rate Savings account. It’s an online account that requires only $1 to open with no monthly fee. The rate is well above average, and it’s earned on balances up to $1.5 million, after which the rate drops significantly.

Other savings account options include an account for kids under age 18, a Super Saver account that pays a low APY on balances of $15,000 and up, a basic Statement Savings account and an assortment of other accounts with different features. All accounts excluding the High Rate Savings incur a $7.50 monthly maintenance fee if minimum balances are not maintained. Accounts can be opened online or in a branch and come with access to online and mobile banking.

Pros

  • Checkmark

    The High Rate Savings yield is well above average.

  • Checkmark

    The bank offers a variety of savings accounts for different needs.

  • Checkmark

    The High Rate Savings account only requires $1 to open.

  • Checkmark

    No monthly service fee is charged on the account.

Cons

  • The APY for most other savings account options is much lower than the High Rate Savings account APY.

  • North American Savings Bank
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Sponsored Offer
Info

This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 6/21/2024
Rating: 4.4 stars out of 5
Info
$1
Min balance for APY
Promoted offer:

Bank fees

Fee Charged?
Overdraft fee $32
Non-sufficient funds fee $32
Monthly maintenance fee $7 for Advance Checking, waived for balances over $100
Out-of-network ATM fee $0
Excessive transaction fee $0

Customer experience

Customer support

Branch availability: NASB maintains 10 branches, all of which are located in the Kansas City metropolitan area.

Customer service: NASB offers customer service phone support, although the hours aren’t listed on its website. There is a number that can be called on a 24/7 basis to report lost or stolen cards. Customers can schedule branch appointments on the bank’s website.

Digital experience

The NASB app comes highly rated by iOS and Android users. It allows for mobile check deposit, transferring of funds and recurring online bill payments. The app also offers personal finance management tools for organizing your budget and expenses. Users can also use the app to locate branches and ATMs. App users can also sign up to receive alerts via text or email when select account activity occurs.

About North American Savings Bank

North American Savings Bank, headquartered in Kansas City, Missouri, is a full-service bank that offers checking, savings, money market and CD accounts, as well as mortgages, commercial loans and more. The bank was established in the early 1920s in Missouri. Today, it has 10 branches and three mortgage loan offices in Kansas City. It offers online and mobile banking, along with access to over 32,000 surcharge-free ATMs in the MoneyPass network.

How does North American Savings Bank compare to other banks?

North American Savings Bank vs. NBKC Bank

Both NASB and NBKC are banks that maintain branches in the Kansas City, Missouri area. Both banks’ offerings include interest-bearing checking accounts and a broad range of CD terms. NASB offers many savings account options while NBKC doesn’t offer any savings accounts.

Rate-wise, both banks offer some accounts with above-average yields, although higher rates can often be found elsewhere. Both banks belong to the nationwide MoneyPass ATM network.

North American Savings Bank FAQs

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.