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Texas Capital Bank Review 2022

Published January 2022 by Libby Wells

AT A GLANCE
3.7

Bankrate Score

bank-logo

ATM fee refunds

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

  • CDs
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    4.2
  • Savings
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    2.4
  • Checking
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    4.7
  • MMAs
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    2.1
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    LendingClub

    Member FDIC

    Savings account

    2.65 % APY

    $ 0

    Min. balance for APY

    Citizens Access

    Member FDIC

    Savings account

    2.35 % APY

    $ 5,000

    Min. balance for APY

    Capital One

    Member FDIC

    Savings account

    2.15 % APY

    $ 0

    Min. balance for APY

    Overall

    3.7

    Bankrate Score

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

    What we like

    • 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.

    What we don't

    • 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.

    CD rates

    4.2

    Bankrate Score

    OTHER CD OFFERS YOU MAY LIKE
    Capital One

    Member FDIC

    CD

    3.25 % APY

    1yr

    Term

    $ 0

    Min. deposit

    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.

    What we like

    • 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.

    What we don't

    • 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.

    Savings accounts

    2.4

    Bankrate Score

    OTHER SAVINGS OFFERS YOU MAY LIKE
    LendingClub

    Member FDIC

    Savings account

    2.65 % APY

    $ 0

    Min. balance for APY

    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.

    What we like

    • The opening deposit requirements are reasonable.

    • Both savings account options come with a Visa debit card.

    What we don't

    • 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.

    Checking accounts

    4.7

    Bankrate Score

    OTHER CHECKING OFFERS YOU MAY LIKE
    Upgrade

    Member FDIC

    Checking account

    0.00 % APY

    $ 0

    To open

    $ 0

    To avoid fees

    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.

    What we like

    • 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.

    What we don't

    • 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.

    Money market accounts

    2.1

    Bankrate Score

    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.

    What we like

    • The opening deposit requirements for both money market accounts is only $100.

    • Both money market accounts reward higher balances through tiered interest rates.

    What we don't

    • 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.

    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.

    Libby Wells Twitter Created with Sketch. @

    Libby Wells Twitter Created with Sketch. @

    Libby Wells is a part-time editor at Bankrate. Previously, she was Bankrate's chief copy editor and a credit card reporter. Libby spent most of her career as a newspaper journalist and has more than 30 years of experience as a writer and editor.