SouthState Bank Review 2024 | Bankrate
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
SouthState is best for customers who live within the bank’s geographical footprint: Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia. Savers will find better options elsewhere, but those looking for an easily-accessible checking account in those locations may find SouthState to be a good fit.
Highlights
- Highly Rated App
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
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 = 4.7/5
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 = 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 = 4.9/5
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.
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
SouthState Bank offers a wide array of banking products, ranging from consumer savings accounts and credit cards to mortgages and small business banking. The bank generally offers low yields for its savings accounts, but its wide variety of checking accounts will fit many needs.
Pros
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Most accounts can be opened online without a minimum deposit.
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Most of the monthly fees are easily waived.
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SouthState is offering a special CD with a very competitive rate.
Cons
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Fee-free ATMs are concentrated in the southern states where SouthState operates.
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SouthState charges a steep overdraft fee.
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Savers looking to grow their money can easily find higher rates elsewhere.
SouthState Bank banking products
SouthState Bank savings overview
Personal Savings isn't a tiered account, meaning you’ll earn the same yield regardless of your balance. And that yield is very low. You can easily find much higher yields at other institutions, particularly online-only banks.
There’s no minimum deposit requirement, and you’ll start earning the APY with as little as $0.01. There’s a $5 monthly maintenance fee, but it can be waived if you maintain a $200 minimum daily balance per charge cycle.
SouthState limits withdrawals from this account to just three per month. This is very prohibitive, as not all banks limit withdrawals from savings and most that do allow at least six per month. SouthState will charge a $2 fee for each withdrawal that goes above that limit.
Pros
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There’s no minimum deposit requirement.
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The monthly fee is easily waived.
Cons
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Withdrawals are limited to three per month; a $2 fee applies for each withdrawal above that limit.
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Higher yields are easily found elsewhere.
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There’s a $5 monthly maintenance fee.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
SouthState BankAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
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 = 4.7/5
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 | $36 |
| Non-sufficient funds fee | None |
| Monthly maintenance fees | $5 - $12 |
| Out-of-network ATM fee | $3 |
| Excessive transaction fee | $2 - $10 |
Customer experience
Customer service. Customer care is available by phone Monday through Friday from 7 a.m. to 8 p.m Eastern time, and Saturdays from 8 a.m. to 5 p.m Eastern time. The bank is closed on Sundays, but customers can also reach the bank through its online contact form.
Digital experience. SouthState’s app, which is highly rated by iOS and Android users, comes with a host of digital banking features, including Bill Pay, Zelle, mobile deposits and free e-statements.
Physical Presence. SouthState customers have access to more than 270 branches and more than 240 ATMs in Florida, Alabama, Georgia, North Carolina, South Carolina and Virginia.
About SouthState
SouthState is an FDIC-insured bank headquartered in Winter Haven, Florida. SouthState was established in 1992 and has more than 270 branches across six southern states: Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia.
How does SouthState compare to other banks?
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.
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