At a glance

4.1

Bankrate Score

CDs

Checking

Savings

MMA

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Overview

Frost Bank is best suited for customers living in Texas or for savers looking to open a competitive certificate of deposit. Though accounts are accessible to anyone online, customers living outside of the Lone Star State will find their money is harder to access, given that Frost’s branches can only be found in Texas and the bank has a small ATM network mostly limited within the state.

Highlights

Top CD Rates
24/7 Customer Service
Highly Rated App

Overall

Frost Bank is a Texas-based institution offering a wide array of financial products and services for consumers and businesses alike. Along with a large range of deposit products, Frost offers investment services, too, making it a great bank to bring all of your financial needs under one roof. Frost is currently offering highly competitive yields on multiple deposit accounts, including certificates of deposit and money market accounts.

However, since Frost is a highly regional bank, you may find it difficult to access your money without incurring fees.

Pros

The APY offered for multiple accounts, including CDs and the MMA, are highly competitive.
You can open an account with a small amount of money.
Customer service is available 24/7.
Frost Bank’s mobile app is highly rated, and it includes features such as Zelle and Bill Pay.

Cons

There are many fees to watch out for.
The ATM network is on the small side.
Look out for costly overdraft fees.

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Frost Bank banking products

3.4

Bankrate Score

Compare top savings rates

FEATURES

Frost Bank savings overview

Frost Bank offers just one savings account, called Frost Savings. It offers a relatively low APY; the yield is above the national average but much lower than what other top-tier banks are offering.

You can open the account with just $50. There’s a $3.50 monthly service fee but there are many ways to waive the fee, including if you make $10 or more in deposits or maintain a minimum daily balance of $300.

Free withdrawals are limited to just two per month, which is a very low limit compared to other banks. (When other banks limit withdrawals from savings accounts, it’s usually capped at six per month.) Frost Bank charges a $3 fee for each withdrawal above that limit.

Pros

There’s a low opening deposit requirement.
The monthly service fee is easy to waive.

Cons

Free withdrawals are limited to just two per month.
Higher yields can be found elsewhere.

Rate history for Frost Bank's Savings account

Frost Bank

APY

APY last updated between 11/14 and 11/20.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

Frost Bank

APY

APY last updated between 11/14 and 11/20.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

3.7

Bankrate Score

Compare top CD rates

FEATURES

Frost Bank CD overview

Frost Bank offers three tiers for their certificates of deposit, all of which earn highly competitive APYs. The first tier — ranging from $1,000 to $99,999 in deposit amount — offers four terms: 90 days, 180 days, one year and two years. The second tier, for deposits amounts of $100,000 and above, offers more variety, with terms ranging from 14 days to two years. The last tier, for deposits $500,000 and over, offers just one 90-day term.

These CDs automatically renew; if you don’t withdraw your funds within 10 days from the maturity date, you will be charged a penalty. As with any CD, Frost Bank charges a penalty for early withdrawal, but it’s relatively lower than you might find at other banks.

Pros

Frost Bank offers highly competitive APYs.
Withdrawal penalties are reasonable.

Cons

Interest is paid at maturity, meaning you can’t withdraw accrued interest until your term is completed.
You won’t find CDs with terms longer than two years for any tier.

3.6

Bankrate Score

Compare top money market rates

Frost Bank money market overview

The Frost Money Market Account is easy to open with just a $50 deposit, and it offers an attractive APY to boot. The account is tiered, so the more money you deposit, the more APY you’ll earn. That noted, you need at least $20 million deposited to earn the highest APY.

There’s a $15 monthly maintenance fee, which you can only waive if you maintain at least $15,000 in your account or if you have a Frost Premium Account.

Withdrawals are limited to six per statement cycle. There’s a $5 excess withdrawal fee for each withdrawal over that limit, totaling $50 if you reach the maximum amount of 10 excess withdrawals per monthly statement cycle. If you withdraw more than 15 times for three consecutive months, Frost will convert your MMA to a checking account.

Pros

The account offers a highly competitive APY.
It takes just $50 to open the account.
The MMA offers tiered APYs.

Cons

There’s a $15 monthly maintenance fee, which isn’t easy to waive.
Withdrawals are limited to six per statement cycle.

4.2

Bankrate Score

Compare top checking rates

Frost Bank checking overview

Frost Bank offers three checking accounts; we reviewed and scored the Frost Personal Account for this section. The account earns some interest if you maintain a daily balance of $5,000 or more.

Although Frost’s checking account is easily accessible, be mindful of the fees you may incur when using this account.

There’s an $8 monthly service charge that can be waived multiple ways, including maintaining a $1,000 daily balance or direct depositing $100 or more per month. Moreover, Frost charges a hefty $35 overdraft fee, which is higher than the national average, if you overdraw your account by more than $100. Lastly, Frost charges a $2 fee for using an out-of-network ATM; Frost only has approximately 1,700 ATMs in its network, mostly in Texas.

Pros

The account earns interest if you maintain at least a $5,000 daily balance.
Customer support is available 24/7.
Person-to-person transactions can be made through Zelle.

Cons

There are a lot of fees to watch out for, including an $8 monthly service fee and a $2 fee for using out-of-network ATMs.
The ATM network is small.
Frost’s overdraft fee is higher than the national average.

Compare Offer

Bank fees

Fee	Charged?
Overdraft fee	$35
Non-sufficient funds fee	None
Monthly maintenance fees	$3.50 - $15
Out-of-network ATM fee	$2
Excessive transaction fee	$3 - $5

About Frost Bank

Frost Bank has been a staple bank in Texas for more than 120 years.

The bank was established in San Antonio, Texas, where it’s still headquartered today. Frost has more than 190 branches scattered across Texas and offers a large range of financial products and services, including brokerage accounts for investing and personal insurance. Although Frost has been around since the end of the 19th century, the bank offers a superb online experience, having established their online and mobile banking capabilities since the early 2000s.

Customer experience

Customer service. Customers can reach Frost Bank representatives on the phone, through email or live chat 24/7.

Digital experience. Frost offers a mobile app for users on the Apple App Store and Google Play Store, both of which are highly rated. The apps offer the best of mobile banking, including reaching customer support 24/7, making peer-to-peer transactions through Zelle, depositing checks, making payments through Bill Pay or opening another Frost account.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Frost Bank APY APY last updated between 11/14 and 11/20. APY last updated between 11/14 and 11/20	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
11/12/2024	0.40%	0.56%
11/05/2024	0.50%	0.56%
10/01/2024	0.50%	0.57%
09/24/2024	0.50%	0.61%
09/03/2024	0.70%	0.61%
05/14/2024	0.70%	0.59%
05/07/2024	0.90%	0.59%
04/02/2024	0.90%	0.58%
03/05/2024	0.90%	0.57%
02/27/2024	0.90%	0.58%
01/02/2024	1.00%	0.58%
12/05/2023	1.00%	0.57%
11/21/2023	1.00%	0.61%

Frost Bank Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about Frost Bank

Frost Bank banking products

Frost Bank savings overview

Pros

Cons

Rate history for Frost Bank's Savings account

Frost Bank CD overview

Pros

Cons

Frost Bank money market overview

Pros

Cons

Frost Bank checking overview

Pros

Cons

Bank fees

About Frost Bank

Customer experience

Review methodology

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