Texas Capital Bank Review: Lots of Banking Options and Low Monthly Fees
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Rates
4.0
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Fees
4.5
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Digital Banking
4.5
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Customer Service
4.0
To get a better idea if Texas Capital Bank is the right place for you to bank, here are some pros and cons to consider.
Pros
- Customers living in Texas and New York City have access to branch locations
- Offers a variety of deposit accounts and CDs
- Provides ATM access through Allpoint network
Cons
- Doesn't offer in-person banking for customers outside of Texas and New York City
- Charges monthly maintenance fees on certain accounts
About Texas Capital Bank
Texas Capital Bank was founded in 1998 and is headquartered in Dallas. The bank has branch locations in the five largest cities in Texas and one location in New York City. It has $38 billion in assets and cites commercial banking and private wealth advisement as its areas of expertise.
Texas Capital offers a variety of deposit accounts and certificates of deposit to its banking customers. The bank is known for its convenience and focus on customer service, which is why it consistently is recognized as one of the best banks in the United States by Forbes.
Texas Capital Bank Products
| Product | Details |
|---|---|
| Checking Accounts | Low minimum opening balance requirements |
| Savings Accounts | Comes with a debit card |
| Money Market Account | Pays interest on a tiered scale |
| CD Accounts | Offers flexible term lengths |
Texas Capital Bank Checking Accounts
If you open a basic Smart Checking account at Texas Capital, you won’t have to worry about any monthly maintenance fees. There is a $100 minimum balance requirement to open the account, and you’ll gain access to thousands of Allpoint ATMs across the country. Texas Capital offers four checking accounts overall, all with a minimum opening balance of $100. The Premier Interest account offers several perks, including free personalized checks, but has a hard-to-waive monthly service fee of $25.
Features
- Unlimited transactions
- No monthly maintenance fees on Smart Checking
- Four checking accounts to choose from
Pros
- Free Visa debit card
- Earn interest on the Capital and Premier accounts
- Free online and mobile banking
Cons
- Higher APYs might be available at an online bank on other checking accounts
- Premier Interest account requires minimum daily ledger balance of $25,000 at accounts at bank to waive monthly fee
Texas Capital Bank Savings Accounts
Texas Capital’s Consumer Savings account offers the basics. You won’t earn a high interest rate, but you need only $100 to open the account and to start saving. The bank also offers a free Minor’s Savings account to help youngsters save.
Features
- $100 minimum opening deposit
- $5 monthly maintenance fee waivable with a $500 minimum daily balance
- Interest compounded daily
Pros
- $25 minimum deposit to open Minor’s Savings account
- Free Visa debit card for both Consumer and Minor’s accounts
Cons
- Limit of two withdrawals per month, or six per quarter
Texas Capital Bank Money Market Accounts
You need only $100 to open a money market account at Texas Capital, which makes it a good option for the average consumer. And if you link the Premier Money Market Account to your Premier Interest checking account, you can avoid the monthly maintenance fee. The Money Market Account is the basic such account at Texas Capital.
Features
- $100 minimum opening balance
- APYs of 0.05%-0.10% on Money Market Account
- 0.05%-0.15% on Premier Money Market Account
- Free Visa debit card with Money Market Account
Pros
- Low minimum opening balance
- $12 monthly maintenance fee on basic account waived with $2,500 minimum daily balance
- Higher APY for higher balances
Cons
- Higher rates likely available elsewhere
Texas Capital Bank CD Accounts
Texas Capital Bank offers a variety of CDs with term limits ranging from 30 days to five years. You’ll need a minimum balance of $1,000 to open a new CD.
Features
- APY range of 0.10% to 0.35%, depending on the term length
- Interest compounds daily
- Flexible term lengths offered
- No service fees required
Pros
- Wide variety of CD lengths
- Flexible options
Cons
- Higher interest rates likely available at other banks
Banking Experience
Texas Capital offers a full-service banking experience. If you live in Texas, you can access the bank’s branch locations, and there’s one location in New York City. And all customers have convenient access to nationwide Allpoint ATMs.
Digital Experience
It’s easy to manage your accounts with Texas Capital’s online banking options and mobile app. You can use these features to pay your bills, set up account notifications, initiate wire transfers, find a nearby ATM and more. All personal checking and savings account customers can enroll in online banking and the mobile app for free. The mobile app is available for Android on Google Play, where it earned 4.3 out of five stars. It doesn’t get as good of a review in the App Store, where it has just 2.6 stars.
How To Open an Account
To open an account at Texas Capital Bank, you can visit one of the bank’s branch locations. You also can contact customer service to learn more about how to get started. There isn’t an option to open online.
Key Information
Customer Service: Call 877-839-2265 for assistance. Representatives are available Monday through Friday, 8 a.m. to 6 p.m. CST. The automated phone service runs 24 hours a day.
Routing Number: 111017979
Promotions: See Newest Texas Capital Bank Promos and Bonuses
Texas Capital Bank Fees
Texas Capital Bank does charge certain fees, including monthly maintenance fees on some of its accounts, but you can waive these fees by maintaining the required minimum monthly balance. Here are some other fees you might need to pay.
| Type | Amount |
|---|---|
| Monthly maintenance | Varies per account |
| Cashier’s checks | $10 |
| Insufficient funds | $45 |
| Wire transfer |
|
Texas Capital Bank vs. Competitors
When choosing a bank, it always is helpful to weigh the products of one financial institution against those of another.
| Bank | Best For |
|---|---|
| Texas Capital Bank | Wide variety of banking options |
| Ally Bank | Interest checking account without fees |
| Wells Fargo Bank | Low minimum opening-balance requirements |
| BBVA | Cashback rewards on free Visa debit card |
Texas Capital Bank vs. Ally Bank
Ally offers an interest checking account that doesn’t charge any fees. But unlike Ally, Texas Capital has branch locations and offers a wider variety of banking options.
Texas Capital Bank vs. Wells Fargo
You need only $25 to open a checking account at Wells Fargo, and the bank provides 24/7 customer support. But Texas Capital doesn’t charge monthly maintenance fees on its basic Smart Checking account.
Texas Capital Bank vs. BBVA
BBVA also offers free checking. But Texas Capital pays a higher interest rate on its money market accounts.
Final Take
Texas Capital is a good option for anyone looking for flexible banking options. And if you live in Texas or New York City, you can take advantage of the bank’s in-person branch locations.
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Editor’s Favorite
The Smart Checking account offers unlimited transactions and no monthly service charges.
Texas Capital Bank FAQ
Here are the answers to some commonly asked questions about Texas Capital Bank.- How do you enroll in online banking?
- Once you've set up your bank account, you can enroll in online banking by filling out the online banking registration form. From there, you'll create a username and password. Once you've done that, the bank will activate your online account.
- Does Texas Capital charge fees for online banking?
- There are no fees associated with online banking.
- Does the bank offer a mobile app?
- Yes, it provides a mobile app that's available on Google Play and the App Store.
- Does Texas Capital Bank offer free money for signing up for an account?
- No, but with Bask Bank, which is a division of Texas Capital Bank, you can earn free American Airlines AAdvantage miles instead of interest with your savings account.
Rates are subject to change. Information on accounts is accurate as of Jan. 28, 2021.
This content is not provided by Texas Capital Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Texas Capital Bank.
