Western State Bank Review 2021

Published January 2021 by Libby Wells

AT A GLANCE
3.9

Bankrate Score

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ATM fee refunds

Free Checking

Western State Bank is a regional bank with branches in Arizona and North Dakota. It's ideal for someone looking for a range of checking accounts with no fees or easy-to-avoid fees. The bank also offers access to thousands of ATMs through the MoneyPass ATM network.

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    4.7
  • Savings
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    3.1
  • CDs
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    3.8
  • MMAs
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    2.8
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.70 % APY

    18mo

    Term

    $ 500

    Min. deposit

    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.70 % APY

    18mo

    Term

    $ 500

    Min. deposit

    Overall

    3.9

    Bankrate Score

    Western State Bank is an FDIC-insured bank started in 1902 and currently headquartered in Devils Lake, North Dakota. It has branches in North Dakota and Arizona.

    What we like

    • The checking account offerings have minimal fees.

    • Customers have access to MoneyPass ATMs.

    • The bank requires a small minimum deposit to open CDs.

    What we don't

    • APYs across products are low compared with top national offers.

    • The money market account requires $10,000 to earn the top APY.

    Checking accounts

    4.7

    Bankrate Score

    OTHER CHECKING OFFERS YOU MAY LIKE
    Quontic Bank

    Member FDIC

    Checking account

    1.01 % APY

    $ 100

    To open

    $ 0

    To avoid fees

    Western State Bank has a great lineup of four checking accounts: Free Checking, Future Checking, VIP Checking and VIP Plus Checking.

    All checking account holders are eligible for up to $20 in monthly ATM fee refunds. The bank has five branded ATMs and is also part of the MoneyPass ATM network, giving customers access to thousands of additional ATMs.

    With the bank’s VIP Plus Checking account, you’ll earn interest on your money. No minimum balance is required for customers who have $10,000 in any combination of deposit accounts or a $25,000 balance in loans and deposits. If you don’t meet those requirements, there’s a $10 monthly fee.

    The bank’s Free Checking account doesn’t charge a fee but also doesn’t pay interest.

    What we like

    • The bank offers a range of checking accounts to fit customers’ needs.

    • Customers get $20 in monthly ATM fee refunds.

    • The bank is part of the MoneyPass ATM network.

    What we don't

    • The VIP Plus Checking account requires sizable deposits or balances to avoid the fee.

    Savings accounts

    3.1

    Bankrate Score

    OTHER SAVINGS OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    Western State Bank offers its Personal Savings account, an interest-bearing account that pays well below the APY at top-yielding banks.

    On the plus side, you must maintain a $100 balance to earn the APY and to avoid the $5 monthly service charge.

    What we like

    • The minimum deposit to open an account is very low.

    • The balance needed to earn the APY is very low.

    • The $5 monthly service fee is waived for balances of at least $100.

    What we don't

    • The account's APY is very low.

    CD rates

    3.8

    Bankrate Score

    OTHER CD OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.70 % APY

    18mo

    Term

    $ 500

    Min. deposit

    Western State Bank offers a range of CDs, with terms ranging from three months to four years. The range of CD terms could be ideal for customers looking to do a short-term CD ladder with month-long terms.

    The bank’s one-year CD pays a decent rate but below what you can find at top-yielding banks. The minimum opening deposit is only $500.

    What we like

    • The bank offers a range of CD terms.

    • The minimum deposit required is only $500.

    What we don't

    • The APY is below what many other top-yielding banks pay.

    Money market accounts

    2.8

    Bankrate Score

    Western State Bank offers its Treasury Market Account. The APY on the account is above the national average but well below what’s available at top-yielding institutions.

    The account requires $1,000 to open, but you’ll need $10,000 to earn the top APY. There’s a $10 monthly fee if your account balance is under $1,000. The account does offer access to checks.

    What we like

    • The account offers access to checks.

    • The $1,000 minimum deposit is fairly reasonable.

    • There’s no monthly fee if your balance is at least $1,000.

    What we don't

    • The APY is well below what you could earn at top-yielding banks.

    • You must have a $10,000 balance to earn the top APY.

    Bank experience

    Western State Bank offers a high-rated mobile app for both Android and iOS devices. The app is rated at least 4.7 out of 5 stars for both. With the app, customers can check their balances and transactions, deposit checks and pay bills.

    Bank branch hours vary by branch. Each branch has a contact phone number but hours are not made available on the bank’s website.

    The bank does allow people to get in contact via email on its Contact Us page.

    About Western State Bank

    Western State Bank is an FDIC-insured bank started in 1902 and headquartered in Devils Lake, North Dakota. Western State Bank is a regional bank with branches in Arizona and North Dakota.

    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.