Texas Capital Bank Review 2021

Published January 2021 by Libby Wells

AT A GLANCE
3.6

Bankrate Score

bank-logo

ATM fee refunds

The bank is best for people who live in Texas and seek accounts with relatively low minimum deposit requirements.

  • CDs
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    4.2
  • Savings
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    2.4
  • Checking
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    4.4
  • MMAs
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    • start icon
    2.1
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    LendingClub

    Member FDIC

    Savings account

    0.60 % APY

    $ 2,500

    Min. balance for APY

    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.55 % APY

    1yr

    Term

    $ 500

    Min. deposit

    Overall

    3.6

    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 CD terms.

    • The bank has generous ATM access through its partnership with Allpoint.

    • Texas Capital Bank has a big umbrella, with commercial services and two internet-only banking divisions.

    What we don't

    • If you don’t live in Texas and prefer in-person banking, this 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
    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.55 % APY

    1yr

    Term

    $ 500

    Min. deposit

    Texas Capital Bank offers a wide range of CD terms. The shortest term is 30 days and the longest term is five years. The opening deposit is $1,000.

    What we like

    • The $1,000 opening deposit is reasonable compared with some other banks.

    • Customers have a choice of terms, including a short-term option.

    What we don't

    • You can find higher yields at other financial institutions.

    • You can find CDs with lower opening deposit requirements at other banks.

    • 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

    0.60 % APY

    $ 2,500

    Min. balance for APY

    Texas Capital Bank's Consumer Savings account is the main option. It 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 Minor’s Savings account, which requires $25 to open and comes with a Visa debit card. It 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

    4.4

    Bankrate Score

    OTHER CHECKING OFFERS YOU MAY LIKE
    Quontic Bank

    Member FDIC

    Checking account

    1.01 % APY

    $ 100

    To open

    $ 0

    To avoid fees

    Texas Capital Bank offers four checking accounts. If you’re looking for an account with a low minimum opening deposit ($100) and no monthly fee, the Smart Checking is worth considering. The other three checking accounts charge maintenance fees, but there are ways to avoid the fees.

    The Premier Interest Checking and Capital Interest Checking earn some interest. The Premier Interest Checking comes with a few perks, such as free personalized checks, a rent-free safety-deposit box, free cashier's checks and unlimited rebates for out-of-network ATM surcharges.

    The fee for non-sufficient funds is a steep $45, higher than what many banks and credit unions charge. On a positive note, Texas Capital customers have access to the huge Allpoint ATM network.

    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 access to over 55,000 Allpoint ATMs across the country.

    What we don't

    • You can find higher yields at other banks.

    • Premier Interest 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 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. The Premier MMA is available only if linked to a Premier Interest Checking account. But the Premier Interest Checking account requires $25,000 in combined balances. There is no monthly fee with the Premier account if it's linked to Premier Checking.

    Both accounts reward higher balance tiers with more interest, but the yield is still below the national average. Also, 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

    • You can find much higher yields 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 in person.

    Bank experience

    Customer service by phone at Texas Capital Bank is available only from 8 a.m. to 6 p.m. Central, Monday through Friday. The bank does have a mobile app. There are a couple of calculators for help with savings and loan decisions. Texas Capital Bank has Apple Pay.

    About Texas Capital Bank

    Texas Capital Bank is an FDIC-insured commercial bank that offers personal banking products, including checking and savings accounts, IRAs, CDs, 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 internet-only banking divisions: Bask Bank, which offers a savings account that earns American Airlines miles instead of interest, and Bank Direct, which offers consumer deposit accounts.

    Libby Wells Twitter Created with Sketch. @

    Libby Wells Twitter Created with Sketch. @

    Libby Wells is a contributing writer to Bankrate. Previously, she was Bankrate's chief copy editor. Libby has more than 30 years of experience as a writer and editor for newspapers, magazines and online publications in South Florida. She spent most of her career at The Palm Beach Post and Palm Beach Daily News, but she also did a previous stint at Bankrate as the credit card reporter. Libby is a native of Kentucky and a graduate of the University of Kentucky, where she earned a bachelor's degree in journalism. She's an avid fan of the legendary UK Wildcats basketball team.