Business Insider's personal finance team compared to the best banks and found it to be a standard option.
The bank is a smart choice if you live in Texas and are looking for a bank with a strong local presence. It also may be a good option if you're looking for a high-interest CD or money market account, as its current APYs are higher than the national average.
Frost Bank Overview
is a Texas bank with around 200 locations statewide. It first opened in 1868 in San Antonio. The bank offers checking and savings accounts, loans, insurance, investing services, and more.
Deposits are insured by the FDIC for up to $250,000 per depositor. Its mobile app is available in both the Apple and Google Play stores, where it has a 4.9-star rating and 4.8-star rating out of 5, respectively.
For customer support, Frost Bank customers can visit a physical branch, call the 24/7 customer service line at 800-513-7678, or chat with customer service live online. You can also send a secure message through your online banking dashboard. There is also a customer service line specifically for Spanish language speakers.
Frost Bank Pros and Cons
Frost Bank Pros
- Several types of bank accounts and CD terms
- Low early withdrawal penalties on CDs
- Higher than average interest rates on money market accounts and CDs
- 24/7 customer service online and via phone
- Highly rated mobile app
Frost Bank Cons
- Locations and ATMs are limited to Texas
- Non-Frost ATMs come with a $2 fee
- All accounts come with monthly service fees (though they can all be waived in some way)
Banking Options with Frost Bank
Frost Savings Account
The Frost Savings Account rate currently sits at a 1.00% APY (Annual Percentage Yield) — lower than those on our best high-yield savings accounts. Interest is compounded daily.
Account holders are allowed two free withdrawals per month, while each additional withdrawal comes with a $3 fee. The account also has a $3.50 monthly service fee unless you're under 25, maintain at least a $300 balance every day, own a Frost Plus or Premium account, or deposit at least $10 each month.
Frost Personal Account
The Frost Personal Account comes with an $8 monthly service fee, but it can be waived if you have direct deposits of $100-plus per month, keep a minimum daily balance of $1,000 (or combined $5,000 across all personal accounts), or are under age 25.
The account also offers customers access to direct deposits up to two days early. As for overdrafts, there's a $35 fee for all overdrafts over $100, but you can avoid these by linking another bank account or applying for a line of credit. (These will be used for automatic transfers in case of an overdraft).
In addition to the Personal Account, Frost Bank also offers a Plus Account and a Premium Account. These come with perks like ATM fee refunds and waived fees for checks, wire transfers, overdrafts, and more. They come with higher monthly service fees, and a larger minimum balance is required to waive these.
Frost CD
The APY on a Frost CD ranges anywhere from 1.70% to 4.10% APY, depending on the balance and term. These are significantly higher than average CD rates across the U.S.
The CD minimum deposit is $1,000, although some terms are only available with higher deposits. If you withdraw money from your CD before its maturity date, there are early withdrawal penalties of between seven days of interest up to 90 days of interest, depending on your CD term.
Frost Money Market Account
The Frost Money Market Account has interest rates between 1.55% to 3.15% APY, which is higher than the national average but not quite near what banks on our best money market accounts guide are currently offering. Interest is paid monthly.
The account requires a $50 minimum opening deposit and comes with a $15 monthly service fee unless you have at least a $15,000 daily balance or own a Frost Premium Account. Customers get six free withdrawals per statement cycle. Any withdrawals beyond this limit come with a $5 fee.
Is Frost Bank Trustworthy?
is not accredited by the Better Business Bureau, but it does have an A+ rating, indicating the company responds to customer complaints effectively and is transparent about its business practices.
It does have one recent controversy. The bank was sued by a customer in 2022 over allegedly charging incorrect and excessive overdraft fees. The case has since been dismissed by the plaintiff.
Frost Bank Alternatives
Frost Bank vs. Prosperity Bank
Prosperity Bank offers comparable options to Frost, including savings accounts, checking accounts, money market accounts, and CDs. Its minimum opening deposits are higher in most cases, though. 's money market account requires $2,500 upfront, while its basic savings account requires $200. (Frost requires just $50).
Prosperity's one standout is its interest-earning checking account. The account comes with unlimited withdrawals and overdraft protection up to $600. One important detail to note: Prosperity Bank has more locations than Frost Bank and serves two states: Texas and Oklahoma.
Frost Bank vs. Chase
As one of the biggest banks in the business, Chase clearly has a larger footprint and wider ATM network than . It also serves all 48 lower states.
Product-wise, though, Chase offers many of the same things as Frost: CDs, savings accounts, checking accounts — but no money market accounts. Chase savings rates are much lower than what Frost Bank currently offers — just a 0.01% APY — and its CD rates are lower in most cases, too. It does, however, offer more CD term options.
Why You Should Trust Us: How We Reviewed Frost Bank
We rate bank accounts on a scale from one to five stars.For our review, we rated its checking, savings, and money market accounts using Personal Finance Insider's bank account methodology.
In general, we look at ethics, security, customer support, miscellaneous features, and mobile apps when rating an institution. Other factors we consider depend on which type of account we're reviewing. For example, we look at interest rates for savings accounts and early withdrawal penalties for CDs.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Frost Bank Overall Rating
| Feature | Insider Rating (out of 5) |
| Savings | 4 |
| Checking | 4 |
| CD | 4.25 |
| Money market | 4.25 |
| Trustworthiness | 5 |
| Total | 4.25 |
Frost Bank FAQs
Is Frost Bank legit?
is a legitimate bank that has around 200 locations throughout the state of Texas. It opened in 1868 and employs more than 5,000 people.
Is Frost Bank FDIC-insured?
Yes. is insured by the Federal Deposit Insurance Corp. for up to $250,000 per depositor (so $500,000 on joint accounts).
Is Frost Bank a major bank?
is a major bank in Texas and has close to 200 locations in the state. It has no locations outside of Texas.
Is Frost Bank a good bank?
may be a worthwhile option if you live in Texas or are looking for a high-interest CD or money market account. The bank has an A+ rating with the Better Business Bureau, and high mobile app ratings.
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