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Rio Bank Review: Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 4 |
| Checking | 4 |
| CD | 3.75 |
| Money market account | 3.75 |
| Trustworthiness | 5 |
| Total | 4 |
Rio Bank Pros and Cons
| Pros | Cons |
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About Rio Bank
Rio Bank is a minority depository institution, because most of its board is Hispanic American and the bank serves a minority community. It has 15 branches in the following cities in Texas:
- Brownsville
- Edcouch
- Edinburg
- Elsa
- Harlingen
- Palmview
- Rio Grande City
- Roma
- San Juan
- McAllen
- Weslaco
You have free access to over 55,000 ATMs around the US in the Allpoint network.
The Rio Bank mobile app has 4.9 out of 5 stars in the Apple store, and 4.7 out of 5 stars in the Google Play store.
Customer service hours vary by branch. All branches are open Monday through Friday, and some are open for part of the day on Saturday.
Your deposits are FDIC-insured for up to $250,000, or up to $500,000 for joint accounts.
The Role of Hispanic American-led Financial Institutions
Hispanic American-led financial institutions provide local services and products to largely Hispanic American and underserved communities.
Rio Bank partners with local organizations and helps volunteer during events.
Is Rio Bank Trustworthy?
Rio Bank does not have any public controversies.
We usually include the Better Business Bureau grade when evaluating a bank's trustworthiness, but the BBB hasn't assessed Rio Bank yet. You may want to read online customer reviews or ask friends and family about their experiences with Rio.
Rio Bank FAQs
Is Rio Bank legit?
Yes, Rio Bank is a legitimate bank. It's a Member FDIC bank, which means your insured deposits are safe in the rare circumstance a bank fails. Up to $250,000 per depositor, per category is protected in a federally insured bank account.
Is Rio Bank a local bank?
Yes, Rio Bank is a local financial institution in Texas. It has branches in the following cities in the state: Brownsville, Edcouch, Edinburg, Elsa, Harlingen, Palmview, Rio Grande City, Roma, San Juan, McAllen, and Weslaco
Does Rio Bank have Zelle?
Yes, Rio Bank offers Zelle. Log in to the bank's mobile app or use online banking to utilize Zelle.
Rio Bank Account Reviews
Rio Bank Prestige Savings Account
You may like the
Rio Bank Bonus Checking Account
The
Rio Bank CD
Rio Bank pays better rates on CDs than some brick-and-mortar banks, but you still may earn the best CD rates with an online bank. Rio also has a Triple Option CD that may pay better rates, but the only term option is three years, and you'll need $10,000 to open an account.
Rio Bank Prestige Money Market Account
The only real advantage of the
How Rio Bank Compares
Rio Bank vs. Texas National Bank
Rio Bank has branches in more cities than
Rio Bank vs. Lone Star National Bank
Lone Star National Bank has more than twice the number of branches than Rio Bank, so there might be a branch closer to your home. Rio Bank makes it easier to waive monthly service fees, though.
Lone Star National Bank Review
Why You Should Trust Us: How We Reviewed Rio Bank
At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using our banking methodology and CD methodology.
Each account receives a rating between 0 and 5. We evaluate a bank's ethics, customer service, and mobile app for all accounts. We also consider different features for specific types of bank accounts. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.