Intro: Woodforest National Bank Reviews
Woodforest National Bank was recently ranked and reviewed by AdvisoryHQ as one of the best banking companies in the U.S.
Firms on our top-rated lists were selected after they successfully passed AdvisoryHQ’s ground-breaking four-step banks and credit unions selection methodology.
Click here for a step-by-step breakdown of the methodology process and selection process we used as part of our Woodforest Bank review: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.
The below Woodforest Bank review provides a detailed review of Woodforest National Bank, including the specific factors we used in our decision-making process for ranking the best banking companies.
Woodforest National Bank Review
Woodforest National Bank maintains multiple branch locations–more than 700–throughout 17 states in the U.S. This includes Illinois, Texas, Virginia, North Carolina, Alabama, Florida, South Carolina, and more.
Woodforest has been one of the premier banks in Chicago and one of the top banks in the Midwest for more than 35 years. It’s a privately owned company, with the Employee Stock Ownership Plan making up the largest shareholder.
Woodforest Bank Reviews
The goal at Woodforest National Bank is to offer quality service and have an in-depth understanding of the needs of each client served.
A unique aspect of this top banking firm is that you’ll find Woodforest Bank Walmart locations, making it convenient to bank at one of the nation’s largest retailers.
In our Woodforest Bank review, we’ll take a look at highlights that make this one of the best banking companies to work with. We’ll review Woodforest loans, Woodforest Second Chance Checking, Woodforest Privilege Pay overdraft protection program, and more.
See Also: Citibank Reviews and Rankings
Key Factors that Enabled Woodforest National Bank to Rank as One of the Top Banking Firms
Next, you’ll find a listing of contributing factors that allowed Woodforest National Bank to rank as one of the top banking firms.
Woodforest National Bank Reviews | Personal Banking Solutions
Competitive banking products and superior client satisfaction have allowed WNB to meet the individualized needs of its clients’ time and time again. Our Woodforest Bank review found that Personal Banking solutions include:
Checking Products:
- Woodforest Checking: Start with the basics with unlimited transactions and only $25 to open an account.
- Woodforest Second Chance Checking: For those who have had previous banking challenges, a second chance is here (more on this account below).
- Choice Checking: A great, interest-bearing option with variable monthly fees that grow smaller the more you deposit.
- Sterling Advantage: An interest-bearing account for customers 55 years or older
- Platinum Plus Checking: Earns the most competitive interest rate and has unlimited check writing opportunities
Savings Products:
- Emerald Elite Account: Earn the most competitive money market rates and have flexible funds access
- Big Account: Earn a competitive money market rate as you save.
- Savings Account: The simple way to get started. No monthly balance fees if you maintain $200 or more each day.
Additional Savings Products:
- CDs: Variable terms with a minimum investment of $500.
- IRAs: Simplify your retirement with thoughtful planning.
- Minor Savings Accounts: It’s never too early to start saving.
- Platinum Plus Checking: The account that earns you the highest interest rate available.
Woodforest Second Chance Checking Review
Woodforest Second Chance Checking is an exclusive Woodforest checking account that’s designed for people who have experienced challenges with their bank accounts in the past.
This account gives them the opportunity to regain their financial footing with only a $25 minimum to open the account and a low monthly fee for account holders who have a direct deposit.
Other checking account options available from Woodforest include the standard Woodforest Checking Account, Choice Checking, and Sterling Advantage, designed for customers who are 50 years and older.
The Platinum Plus Checking Account provides the most competitive interest rates, along with unlimited check writing.
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Woodforest National Bank Reviews | Personal Loans to Reach Your Goals
The right loan at the right time with the right rate can make all the difference. Woodforest loans offer several consumer products with competitive rates and no surprises at the end.
Whether you’re at a Woodforest National stand-alone branch or one of the Woodforest Walmart locations, personal loans are available for:
- Home improvement
- Personal unsecured credit card
- Automobiles
- Mortgages
- ReLi® unsecured line of credit
- ReLi® secured line of credit
Woodforest National Bank Reviews | Business Banking Solutions
The most exciting thing that can happen to your business is for it to grow.
At Woodforest National Bank, that’s exactly what the goal is, and you can reach that goal through a variety of financial tools and products that are designed with your business in mind.
To help you flourish, our Woodforest Bank review found the following products:
Business Checking Products:
- Business Simple Checking: Designed for businesses with lower transaction volumes
- Second Chance Business Checking: Woodforest Second Chance checking for businesses that have experienced prior bank account challenges
- Advantage Business Checking: Up to 500 transactions per month with no additional charge and no additional account fees.
- Business Checking: For companies with higher balances and activity
- Business Plus Checking: Interest-bearing account that comes with unlimited check writing
- Business Money Market Checking: A competitive business account that earns you interest as you go.
Additional Business Services:
- Cash Management
- Federal Tax Payments
- Credit Cards
- Investments
- Merchant Services
Related: Bank of America Review
Woodforest National Bank Reviews | Business Lending
Securing the right kind of financing is crucial for any business. Woodforest National Bank offers a broad spectrum of business loans, each tailored for a specific need. Our Woodforest National Bank reviews of their Woodforest loans for businesses show they offer the following options:
- Business ReLi® unsecured line of credit
- Business revolving line of credit
- Term loans
- Owner-occupied real estate
- Business auto loans
Woodforest National Bank Reviews | Woodforest PrivilegePay
A signature offering from Woodforest, one of top banking firms, is Woodforest PrivilegePay, an overdraft protection option to offer customers peace of mind.
PrivilegePay is a service that provides assistance if a customer makes an accounting error. Customers must opt-in to take advantage, and if you maintain an account in good standing, Woodforest may approve overdraft items within the available limit.
An account is considered in good standing if the customer makes sufficient deposits to bring their account to a positive end-of-day balance at least once every 35 calendar days, avoids excessive overdrafts, and as long as there are no legal orders, levies or liens against the account.
Woodforest Bank Review | Card Services
The Woodforest debit card allows holders to make purchases that are secure and convenient. Along with making worldwide purchases, cardholders can get cash anytime because of 24/7 ATM access and use any Woodforest ATM location and not pay an ATM balance inquiry or withdrawal fee.
Users also enjoy robust fraud protection and safety measures that include fraud transaction monitoring, debit card fraud alerts, Zero Liability, and travel protections.
To maintain control over finances, cardholders can review all of their transactions daily through the use of Woodforest online banking services.
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Rating Summary
While Woodforest’s website might not be as flashy and modern as some of the top banking firms, the navigation is straightforward which makes it easy to find what you need.
In addition to their standard banking and loan offerings, they also offer helpful tools like social network monitoring and the ability to deposit cash into your account through the checkout at a Walmart store if you don’t want to stand in line at the Woodforest Bank Walmart branch.
Their ability to offer unique services not found at other top banks in Chicago and their focus on customer service have scored Woodforest National Bank a 5-star rating.
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