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Texas Capital Bank Review 2023

Written by

Libby Wells

Edited by

David Schepp

Updated January 1, 2023

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At a glance

3.7

Bankrate Score

CDs

Checking

Savings

MMA

Overview

The bank is best for consumers who live in Texas seeking accounts with relatively low minimum deposit requirements.

Highlights

ATM Fee Refunds

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Member FDIC

Savings Account

3.40

APY

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.

Min. balance for APY

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Member FDIC

Savings Account

3.30

APY

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.

Min. balance for APY

View offer

Member FDIC

Savings Account

3.40

APY

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.

Min. balance for APY

View offer

Overall

Texas Capital Bank is a commercial bank based in Dallas that also offers consumer deposit products, credit cards and personal loans.

Pros

It offers a variety of consumer deposit products and checking accounts.
The bank has generous ATM access through its partnership with Allpoint.
Texas Capital Bank has a big umbrella, with commercial services and two online-only banking divisions.

Cons

If you don’t live in Texas and prefer in-person banking, this bank is not a good fit.
Yields on deposits are either so-so or below national averages.

Texas Capital Bank bank products

2.4

Bankrate Score

Compare top savings rates

Texas Capital Bank savings overview

Texas Capital Bank's Consumer Savings account requires $100 to open, comes with free mobile and online banking, and a Visa debit card. It currently earns less than the national average.

The bank also offers the Savings – Minor account for savers under age 16. It requires $25 to open, comes with a Visa debit card and pays the same APY as Consumer Savings.

Pros

The opening deposit requirements are reasonable.
Both savings account options come with a Visa debit card.

Cons

There are banks that pay much higher APYs on savings accounts.
You must maintain a daily balance of at least $500 in the Consumer Savings account to avoid the $5 monthly fee.
The Consumer Savings account allows only two withdrawals per month, or six per quarter.
There is a $2 fee for each savings account withdrawal that exceeds the limit.

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Member FDIC

Savings Account

3.40

APY

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.

Min balance for APY

View offer

4.2

Bankrate Score

Compare top CD rates

Texas Capital Bank CD overview

Texas Capital Bank offers 10 CD terms ranging from 30 days to five years. The opening deposit is $1,000. Customers who open CDs of two years or longer get slightly higher yields if they have $25,000 in combined deposit balances. Still, yields are not that exciting and they're easily beat, especially by online banks.

Pros

The $1,000 opening deposit is reasonable compared with some other banks.
The range of terms enables depositors to build a CD ladder.
It has a short-term option for customers who don't want to tie up their money for a long time.

Cons

You can find higher yields at other financial institutions.
You can find CDs at other banks with lower opening deposit requirements.
The five-year CD pays less than some of the shorter terms.

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Member FDIC

4.40

APY

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.

$500

Min. deposit

1 yr

Term

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2.1

Bankrate Score

Compare top money market rates

Texas Capital Bank money market overview

Texas Capital Bank offers two money market accounts. The opening deposit for both the standard money market account and the Premier MMA is only $100, but a daily balance of $500 is required to earn interest.

The regular MMA incurs a $12 monthly fee unless there is a daily balance of at least $2,500. There is no monthly fee with the Premier account if it's linked to Premier Checking, but that account has a minimum daily balance requirement of $25,000.

Both accounts reward higher balance tiers with more interest, but a daily balance of $100,000 is required to earn the highest rate.

Pros

The opening deposit requirements for both money market accounts is only $100.
Both money market accounts reward higher balances through tiered interest rates.

Cons

Much higher yields can be found at other banks.
Both money market accounts require a minimum daily balance of $500 to earn interest.
The highest yield doesn't kick in until the daily balance hits $100,000.
To open an account, you must live in Texas and apply at a branch.

4.7

Bankrate Score

Compare top checking rates

Texas Capital Bank checking overview

Texas Capital Bank offers four checking accounts, all of which require a minimum opening deposit of $100 and two of which pay interest. If you’re looking for an account with no monthly fee and no minimum balance requirement, the Smart Checking is worth considering. It's not interest-bearing, but it does come with a debit card and access to online and mobile banking.

The fee for nonsufficient funds is a steep $45, higher than what many banks and credit unions charge. On a positive note, Texas Capital customers have fee-free access to over 55,000 ATMs in the Allpoint network.

The other three checking accounts charge maintenance fees that can be waived if minimum balance requirements are met.

The Capital Interest and Premier checking accounts earn some interest, but higher APYs are available elsewhere. The Premier account comes with a few perks, such as free personalized checks, but there is a whopping $25 monthly maintenance fee unless a combined minimum daily balance of $25,000 in related accounts is maintained.

Pros

The Smart Checking account has a low opening deposit and no monthly service charge.
There are four checking account options to fit different needs.
There are two checking accounts that earn some interest.
Customers have fee-free access to over 55,000 Allpoint ATMs across the country.

Cons

You can find higher yields at other banks.
Premier checking requires a $25,000 minimum daily balance in combined accounts to avoid a $25 monthly fee.

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Member FDIC

Checking Account

2.50

APY

Bankrate Checking 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.

To open

To avoid fees

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Bank experience

Customer service by phone is available from 8 a.m. to 6 p.m. Central time, Monday through Friday. You can also email the bank. The bank has a mobile app that gets mixed reviews among iOS and Android device users. Person-to-person payments can be made using PayNow.

You can use your Texas Capital Bank-issued debit card at ATMs in the Pulse, Cirrus, Accel and Allpoint networks, but to avoid a service fee, use a Texas Capital Bank or Allpoint network ATM. The debit card works with Apple Pay and Google Pay.

About Texas Capital Bank

Texas Capital Bank is an FDIC-insured commercial bank that also offers personal banking products, including checking and savings accounts, CDs, money market accounts, credit cards and personal loans. It is headquartered in Dallas, with banking centers in Austin, Fort Worth, Houston, San Antonio and New York City.

Texas Capital Bank has two online-only banking divisions: Bask Bank, which offers a savings account that earns American Airlines miles instead of interest, and BankDirect, which offers consumer checking, savings and money market accounts and CDs.

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.

Up next

Texas Capital Bank Review 2023

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

Texas Capital Bank bank products

Texas Capital Bank savings overview

Pros

Cons

Bank experience

About Texas Capital Bank

Review methodology

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