Cadence Bank Review: Community Banking With a Personalized Approach
Written by
Rudri Patel
Edited by
Melanie Grafil
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Choose from one of six checking accounts based on your financial needs. Some checking accounts will also earn you interest.
Cadence Bank is a regional bank with a large selection of accounts in personal and business banking and investment products. The bank provides in-person services and user-friendly mobile and digital platform.
Cadence Bank is a regional bank with about 415 banks across the Southeast and Texas. The bank offers comprehensive financial products, including personal and business banking, commercial lending, and investment services. Cadence Bank has a community approach for those who prefer in-person banking.Â
GOBankingRates named Cadence Bank one of the Best Banks in Arkansas for 2025.
Cadence Bank Checking Accounts
Customers can choose from six checking accounts at Cadence Bank. The checking accounts are Performance Checking, My Way Checking, Interest Plus Checking, Heritage Checking, Budget Smart Checking and My Way Checking for Students. All checking accounts require a minimum deposit. All checking accounts come with a debit card, bill pay, an online budgeting tool and a credit card.Â
- My Way Checking, Performance Checking, My Way for Students and Heritage Checking require a $50 minimum depositÂ
- Interest Plus Checking requires a $1,000 minimum deposit
- Performance Checking, Interest Plus Checking, and Heritage Checking earn interest
- All accounts have a monthly maintenance fee except for My Way Checking for Students
- All monthly fees can be waived if you meet requirements except for the $5 maintenance fee on Budget Smart CheckingÂ
- Heritage Checking is geared toward Seniors
Best For
Mobile App
Banking in Arkansas
Low Monthly Fees
Loan Options
Investment Services
Waivable Monthly Fees
Cadence Bank offers six checking accounts tailored to different financial needs, with perks like fee waivers, interest-earning options, and features for students and seniors.
Fees
$0 to $15
APY
Contact local branch for details
Min Opening
$25 to $50
Pros
- Variety of checking accountsÂ
- Specific checking accounts earn interest
- Not difficult to waive monthly maintenance fees
- Students under 25 are eligible for account perks
Cons
- Only about 400 ATMs
- Interest rates and APYs on interest-bearing checking accounts not available online
- Limited geographic locationsÂ
Quick Take
Cadence Bank has several checking accounts that serve customers with different financial profiles. Although most checking accounts come with monthly maintenance fees, it is fairly easy to meet waiver requirements.
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Cadence Bank Savings Accounts
Cadence Bank has four savings account options: My Goal Savings, Performance Savings, Select Savings and Young Savers. All require a minimum deposit, and all earn interest. My Goal Savings requires a $100 minimum deposit. The $5 monthly fee is waived if you keep the minimum daily ledger balance at $100 or more. Performance Savings requires a $50 minimum deposit. Keep a daily ledger balance at $50 to waive the service charge. Select Savings requires a $1000 opening deposit. To avoid the $15 monthly fee, keep the quarterly daily balance at $1,000. The Young Savers account is for account holders under 18 years old. The minimum deposit is $25, and there is no monthly fee.Â
- Each savings account will give you six free transactions per month. Subsequent transactions cost $5 each.
- You can earn interest on balances up to $100,00 with the Performance Savings account.
- Young Savers Account can be opened jointly with a parent or guardian.
- You will have to call the branch or customer service to learn about specific interest rates on accounts.
- You receive an ATM card with each savings account.
- Bill pay is available on each savings account.
Best For
Mobile App
Banking in Arkansas
Low Monthly Fees
Loan Options
Investment Services
Wide Variety of Savings Accounts
Cadence Bank offers four savings accounts with low minimum deposits and tailored features, including options for young savers, but interest rates must be confirmed directly with the bank.
Fees
$0 to $15
APY
Contact local branch for details
Min Opening
$25 to $1,000
Pros
- Variety of checking accountsÂ
- Specific checking accounts earn interest
- Not difficult to waive monthly maintenance fees
- Students under 25 are eligible for account perks
Cons
- Only about 400 ATMs
- Interest rates and APYs on interest-bearing checking accounts not available online
- Limited geographic locationsÂ
Quick Take
Cadence Bank targets young savers or those who want to earn interest on their high balances with their savings accounts. Minimum opening deposits are low, but interest and APY information aren’t viewable on the site. You must call the branch to determine what you may earn from interest on your savings accounts.
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Cadence Bank CD Accounts
Cadence Bank offers CDs with an opening balance between $1,000 to $5,000. The terms are one month to five years. With your CD from Cadence Bank, you can enjoy flexible interest payment options. CD funds are FDIC-insured for at least $250,000 per depositor.
- Term lengths for CDs are between one month and five years
- Minimum opening deposit of $1,000
- Cadence Bank offers promotional rates on CDs. As of October 2024, a 5-month CD offers an APY of when opened with at least $25,000 in new funds and linked to a Cadence checking account.
- No monthly maintenance fees on CDs
- FDIC-insured
Best For
Mobile App
Banking in Arkansas
Low Monthly Fees
Loan Options
Investment Services
Promotional CDs With Competitive Rates
Cadence Bank offers CDs with flexible terms, competitive promotional rates for qualifying accounts and a minimum opening deposit as low as $1,000.
Fees
No monthly service fee
APY
Up to
Min Opening
$1,000
Pros
- Varying term lengths
- Can get a competitive APY if you have substantial new funds and a linked account at Cadence
- Guaranteed returns
Cons
- Limited liquidityÂ
- Early withdrawal penaltiesÂ
- Locked into a set interest rate Â
Quick Take
Cadence Bank offers promotional competitive APYs on CDs. The minimum deposit is $1,000, and the APYs range from and may go up to . There are several promotional CD terms as well, such as the 5-month, 11-month and 16-month terms. You will have to meet specific requirements to qualify for promotional CD rates.
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Cadence Bank Money Market Accounts
Cadence Bank offers a single money market account with an opening deposit requirement of $1,000. To avoid the monthly service fee of $10, you must keep the daily ledger balance at $10,000. Interest rates are based on balance tiers.Â
- Opening deposit of $1,000
- The interest rate is based on the balance tier
- Transactions are limited to six, and there will be a charge of $10 each at the seventh transaction
- Debit card access and ATM availability
Best For
Mobile App
Banking in Arkansas
Low Monthly Fees
Loan Options
Investment Services
Rewards for Higher Balances
Cadence Bank’s money market account offers tiered interest rates and flexible access but requires a high daily balance of $10,000 to avoid fees.
Fees
$10 monthly, waivable
APY
Confirm with bank for details
Min Opening
$1,000
Pros
- Flexible access to funds
- FDIC insured
- Reward for higher balances
Cons
- High daily balance to avoid monthly fee
- Interest rates not published on the siteÂ
- Transaction limitations Â
Quick Take
The money market account at Cadence Bank requires a high daily balance, which may not appeal to some customers. The account is geared toward individuals who keep substantially high balances.
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Banking Experience
Cadence Bank is a regional bank with roughly 415 branches across the Southeast and in Texas. Cadence Bank offers personal banking, business banking, commercial lending, and wealth management. Community is a primary focus of Cadence Bank’s mission, and money is spent toward volunteer hours educating individuals on saving, budgeting, borrowing, and owning a home.
The Better Business Bureau has received 68 complaints from Cadence Bank customers with varying concerns ranging from customer service, billing, and product issues. The Better Business Bureau gives Cadence Bank a B- rating.
To contact customer service, you can call 1-800-636-7622 or 1-888-797-7711 from Monday to Friday from 7 a.m. to 8 p.m. CT or Saturday from 7 a.m. to 5 p.m. CT.Â
Cadence Bank has a robust digital platform. The mobile app is rated 4.7 out of 5 stars on Google Play and 4.8 out of 5 stars on the Apple Store.Â
How Does Cadence Bank Compare?
It helps to know where Cadence Bank stands when you compare it to its competitors. Here’s a snapshot of Cadence Bank and some of its competitors:
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $15
No monthly service fees
$5 to $35 waivable monthly fee
APY
APY
APY
Contact local branch for details
Up to
Min Opening
Min Opening
Min Opening
$25 to $50
$25 to $100
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $15
No monthly service fee
Up to $12 monthly service fee – can be waived
APY
APY
APY
Contact local branch for details
Up to for Platinum Savings accounts
Min Opening
Min Opening
Min Opening
$25 to $1,000
$0
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
No monthly service fee
Early withdrawal penalty may apply
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000
$2,500
$2,500 to $5,000
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$10 monthly, waivable
No monthly service fee
$10, waivable
APY
APY
APY
Confirm with bank for details
4.2%
Min Opening
Min Opening
Min Opening
$1,000
$0
$100
Cadence Bank vs. SoFi®
SoFi is a digital-only bank that offers a savings account with no minimum deposit and the possibility to earn up to APY*, Cadence Bank has an in-person presence and a healthy digital platform for customers. Its APYs on savings accounts are not disclosed, so for some individuals, the convenience and transparency of rates may seem more appealing than those of Cadence Bank.
Cadence Bank vs. Sallie Mae Bank
Sallie Mae focuses primarily on online banking products, particularly high-yield savings accounts, competitive CDs, and student loans, with no physical branches. Its APY on its high-yield savings account is and requires no minimum balance or monthly maintenance fee. Although Cadence Bank doesn’t appear to offer a savings account with that APY, as this is not published online, it does offer in-person banking, commercial lending, and investment services. The choice between the two depends on your personal financial preferences. Â
Cadence Bank vs. Wells FargoÂ
Wells Fargo has a national presence and a substantial footprint with its branches and ATM access. Wells Fargo has a full suite of services that appeal to those seeking nationwide accessibility. In contrast, Cadence Bank has many of the products that a larger bank offers, but its branches and ATM access is limited.
Final TakeÂ
Cadence Bank is an excellent choice for those who are seeking a regional bank in the Southeast and in Texas. It offers various personal and business banking services, commercial lending and investment services. Although the bank has a wide range of financial products, the higher balance requirements for fee waivers, limited geographic locations, and the lack of publication of APYs may push some to consider other bank options.Â
Cadence Bank FAQ
- Can I use Zelle with Cadence Bank?
- Yes. Cadence Bank uses Zelle as a part of its digital platform.
- How much can you withdraw from a Cadence Bank ATM?
- You can withdraw up to $400 from a Cadence Bank ATM.
- Is Cadence Bank the same as Bankcorp South?
- Yes, Cadence Bank and BancorpSouth are now the same institution.
- In 2021, BancorpSouth Bank and Cadence Bank merged in an all-stock transaction to create a combined entity operating under the Cadence Bank name.
- Does Cadence Bank have fees?
- Yes. Many of Cadence Bank’s checking, savings and money market accounts have monthly maintenance fees. You can qualify to waive those fees if you meet specific requirements. Cadence Bank will charge a $2.00 fee for a withdrawal at a non-Cadence Bank ATM.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 18, 2024.Â
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
*Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 18, 2024.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
