Frost Bank Rates & Review

Frost Bank Review

Frost Bank is an award-winning Texas bank that provides core banking services as well as investment and insurance products.

Frost Bank, headquartered in San Antonio, started with a single location in 1868. This FDIC-insured bank now has more than 100 locations throughout Texas. In fact, it is the largest Texas-based bank that operates only within the state. According to the bank's website, Frost Bank elected not to apply for TARP funding in October 2008.

Bank accounts and services

Frost Bank's core banking services including checking, savings, CDs and loans for personal and business customers. The bank offers competitive savings account rates for customers seeking regular savings, a money market account, a CD or an IRA.

The bank has a standard free checking account plus four other options:

• Signature checking account. This is an interest-earning account with access to a high yield money market account.
• Balanced checking account. This no-fee account has benefits including an additional fee-free savings account and a child savings account.
• Freedom checking account. This no-minimum account refunds other bank ATM fees.
• Frost Momentum checking account. This combined savings and checking account can be opened and funded online.

Investment services

Frost Bank helps customers with personal investments and trust or estate planning. Investment products and services include managed accounts, brokerage accounts, financial planning services, stock options, and a periodic investment program. The bank also helps with business investments including retirement services for small business employees.

Insurance products

The bank's affiliate Frost Insurance offers auto, property and life insurance; recreational vehicle and watercraft insurance; and umbrella liability protection.

Awards and recognition

J.D. Power and Associates has given Frost Bank top ratings for customer loyalty and satisfaction. This bank has received 17 Greenwich Associates Excellence Awards for its small business and middle market banking. It also received the 2010 Customer Engagement Award from Allegiance, Inc.

Deposit insurance

Frost Bank is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.

Compare savings account rates from Frost Bank and more than 400 other banks at SavingsAccounts.com.