We think Pinnacle Bank only makes sense for people who live in its regional service areas of Nebraska, Kansas, and Missouri. You can’t open an account if you live elsewhere.
But even if you live within this area, Pinnacle’s checking and savings accounts don’t earn high enough interest to compete with some of the best online banks or national financial institutions.
Let’s jump into our Pinnacle Bank review to see if this financial institution makes sense for you.
- Key takeaways
- Pinnacle Bank overview
- Pinnacle Bank checking accounts
- Pinnacle Bank savings accounts
- Additional Pinnacle Bank products
- What we like about Pinnacle Bank
- What Pinnacle Bank could improve
- Who is Pinnacle Bank best for?
- How to open an account with Pinnacle Bank
- Alternatives to Pinnacle Bank
- Pinnacle Bank FAQ
- Pinnacle Bank review: bottom line
Key takeaways
- Pinnacle Bank is a brick-and-mortar bank that serves people through its 72 branches located in Nebraska, Kansas, and Missouri.
- To open an account with Pinnacle Bank, you need to live in its service area.
- Pinnacle Bank is a member of the Federal Deposit Insurance Corporation (FDIC), which provides coverage for your funds up to $250,000 per depositor.
- Pinnacle Bank provides checking and savings accounts, debit and credit cards, loans, and certain investment products.
- The annual percentage yield (APY) rates that Pinnacle offers aren’t the most competitive. Additionally, Pinnacle typically requires a high balance to get the best rates.
Pinnacle Bank overview
- Offers deposit accounts, loans, certificates of deposit (CDs), and more
- Has checking and savings accounts with no monthly maintenance fees
- Has a highly-rated mobile app on the App Store and Google Play
- Requires you to live in Nebraska, Missouri, or Kansas to open an account
- Doesn’t offer competitive APY rates
Pinnacle Bank traces its roots back to 1938 when the Dinsdale family opened a bank in Palmer, Nebraska. Over 80 years later, Pinnacle and its 72 locations are still owned and managed by the Dinsdale family. While headquartered in Nebraska, Pinnacle also serves customers in Missouri and Kansas.
Pinnacle Bank checking accounts
Checking account | Description | Minimum to open | Monthly maintenance fee |
Free Checking | Basic fee-free checking | $100 | $0 |
Select Checking | Checking with paper statements | $100 | $5 for paper statements |
Diamond Secure | Checking with protection benefits | $100 | $4 (additional $5 if you choose paper statements) |
Interest Checking | Interest-bearing checking | $100 | $15 ($0 with a $1,000 minimum balance, an additional $5 if you choose paper statements) |
Relationship Account | Interest-bearing checking with protection benefits | $100 | $25 ($0 with a $15,000 average balance or $50,000 across all Pinnacle accounts) |
With a Pinnacle Bank checking account, you get a free debit card and access to an ATM network across seven states. You also get FDIC insurance of up to $250,000.
Note that all of these checking accounts require a minimum $100 deposit to open, which is higher than many of the best checking accounts.
Free Checking
Annual percentage yield (APY) | None |
Minimum deposit requirement | $100 |
Minimum balance requirement | None |
Monthly maintenance fees | $0 |
ATM access | Access an ATM network across seven states |
FDIC insured | Up to $250,000 |
The Free Checking account makes sense if you want a simple fee-free solution for moving money around and covering everyday expenses.
The Free Checking account doesn’t earn interest, but you get a free debit card and don’t have to worry about monthly service charges. There’s a minimum $100 deposit to open this account.
Select Checking
Annual percentage yield (APY) | None |
Minimum deposit requirement | $100 |
Minimum balance requirement | None |
Monthly maintenance fees | $5 for paper statements |
ATM access | Access an ATM network across seven states |
FDIC insured | Up to $250,000 |
Select Checking makes sense if you want to receive paper statements each month to check your transactions and keep a physical copy. These paper statements have a fee of $5 per month.
However, we don’t really see this as a benefit, as you can typically print out your online statements anyway if you really want a paper copy.
Diamond Secure
Annual percentage yield (APY) | None |
Minimum deposit requirement | $100 |
Minimum balance requirement | None |
Monthly maintenance fees | $4 (additional $5 if you choose paper statements) |
ATM access | Access an ATM network across seven states |
FDIC insured | Up to $250,000 |
Diamond Secure makes sense if you want to take advantage of certain protection benefits, including identity theft protection and cell phone protection.
Keep in mind that this account has a $4 service charge per statement cycle and charges an additional $5 per statement if you choose paper statements.
Interest Checking
Annual percentage yield (APY) | 0%-1.56% (as of 07/01/24)1, depending on your balance |
Minimum deposit requirement | $100 |
Minimum balance requirement | $1,000 |
Monthly maintenance fees | $15 ($0 with a $1,000 minimum balance, an additional $5 if you choose paper statements) |
ATM access | Access an ATM network across seven states |
FDIC insured | Up to $250,000 |
Interest Checking makes sense if you want to earn interest on your stored funds. Note that getting the highest APY rate requires a balance of $1 million or more, which isn’t obtainable for most people.
With this account, there are no monthly fees for maintenance if you keep at least a minimum $1,000 balance. If you fall below the minimum balance of $1,000, there’s a $15 service charge.
Relationship Account
Annual percentage yield (APY) | 0%-1.58% (as of 07/01/24), depending on your balance |
Minimum deposit requirement | $100 |
Minimum balance requirement | $15,000 average balance or $50,000 across all your Pinnacle accounts |
Monthly maintenance fees | $25 ($0 with a $15,000 average balance or $50,000 across all Pinnacle accounts) |
ATM access | Access an ATM network across seven states |
FDIC insured | Up to $250,000 |
The Pinnacle Relationship Account makes sense if you want to earn interest and plan to maintain a large balance. Keep in mind that the highest APY for this account requires at least a $1 million balance, which might not be the best use of your funds if you want to earn money on stored cash.
This account also provides a slew of other benefits, including:
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Pinnacle Bank savings accounts
Savings account | Description | Minimum balance | Monthly maintenance fee |
PinnSavings | Basic savings with low fees | $100 | $1 ($0 with a $100 minimum balance) |
PinnCheck Market | Savings with higher APY | $1,000 | $10 ($0 with a $1,000 minimum balance) |
Pinnacle Bank savings accounts aren’t the most competitive with their APY rates, but they could make sense if you don’t qualify for other options. However, the best savings accounts tend to have more benefits and better interest rates.
PinnSavings
Annual percentage yield (APY) | 0.86% (as of 07/01/24) |
Minimum deposit requirement | $100 |
Minimum balance requirement | $100 |
Monthly maintenance fees | $1 ($0 with a $100 minimum balance) |
ATM access | Access an ATM network across seven states |
FDIC insured | Up to $250,000 |
PinnSavings makes sense as a low-stress basic savings account since there aren’t any monthly maintenance fees if you maintain at least a $100 balance. You won’t earn much interest on stored funds, but it’s a secure place to keep your money as you work toward financial goals.
Note that there’s a $1 service charge if you fall below the minimum account balance. There’s also a $1 service charge for each withdrawal over six per month.
PinnCheck Market
Annual percentage yield (APY) | 0.89%-2.08% (as of 07/01/24), depending on your balance |
Minimum deposit requirement | $100 |
Minimum balance requirement | $1,000 |
Monthly maintenance fees | $10 ($0 with a $1,000 minimum balance) |
ATM access | Access an ATM network across 7 states |
FDIC insured | Up to $250,000 |
The PinnCheck Market makes sense if you want a higher APY, but it still doesn’t compete with money market accounts from top banking competitors. It’s also difficult to achieve the highest APY rate because you need a balance of $250,000 or more in your account.
Note that there’s a $10 service charge per statement cycle if your balance falls below the minimum. There’s also a $3 charge for performing more than six debits per statement cycle.
Additional Pinnacle Bank products
In addition to checking and savings accounts, Pinnacle Bank also offers these financial products.
- Credit cards: Pinnacle offers credit cards that you can use anywhere Visa cards are accepted. Some of the benefits include contactless payments and earning rewards.
- Loans: Pinnacle offers services for home loans, home equity loans and lines of credit, auto loans, and other types of personal loans.
- Certificates of deposit (CDs): Pinnacle offers CDs but doesn’t publish their rates online, which makes it difficult to figure out their effectiveness as a savings product.
- Health savings accounts (HSAs): A Pinnacle HSA has a one-time setup fee of $25 and no monthly maintenance fees if you maintain a minimum $500 balance, otherwise, you’d pay a monthly fee of $3. You can invest a portion of your funds in an HSA investment account if your balance is $1,000 or more.
- Individual retirement accounts (IRAs): Choose from a traditional, Roth, or education IRA.
- Trust services: A Pinnacle trust officer can help you with trust and estate services to meet your unique needs.
- Business services: Pinnacle provides business checking and money market accounts as well as business credit cards, loans, and CDs.
What we like about Pinnacle Bank
- Various financial services: Pinnacle offers checking and savings accounts, debit and credit cards, a variety of personal loans, different types of investment products, and more.
- Highly-rated mobile apps: The Pinnacle Bank Nebraska app has a 4.6 out of 5 rating on Google Play and a 4.8 out of 5 rating on the App Store. The app allows you to perform a variety of banking activities through your phone without needing to visit a branch.
- In-person services: Pinnacle has 72 in-person locations across Nebraska, Kansas, and Missouri. You can also do online and mobile banking with Pinnacle.
What Pinnacle Bank could improve
- APY rates: The APY rates on Pinnacle’s interest-bearing accounts don’t compete against top competitors in the banking industry. Considering many of the best neobanks offer better rates, it doesn’t make much sense to go with Pinnacle unless you want access to in-person branches.
- Regional footprint: You can’t open an account with Pinnacle Bank unless you live within its service area, which includes only Nebraska, Kansas, and Missouri.
Who is Pinnacle Bank best for?
Pinnacle Bank is best for people who live within its service area — Nebraska, Kansas, and Missouri. We tried to go through the process of opening a checking account online with Pinnacle, but we weren’t able to with Utah and Texas ZIP codes.
Even if you live within the required service area, Pinnacle still might not be the best option available to you. Its APY rates are lacking, and there aren’t any extraordinary benefits being offered that you couldn’t get elsewhere.
How to open an account with Pinnacle Bank
To open an account, you need to visit an in-person Pinnacle Bank branch or go through a quick online process. Here’s how to get started online.
- Visit the applicable Pinnacle Bank page on its website for the account you want to open. For example, here’s the checking accounts page.
- Select the Open In Minutes option on the applicable account.
- Fill in your information, including your name and address. Note that if your address isn’t within Pinnacle’s service area, you won’t be able to open an account.
- If your address is within the required service area, you’ll be able to proceed and will be asked to provide your Social Security number and date of birth before proceeding with the rest of the account creation process.
Pinnacle advertises that opening an account online only takes minutes, which is typical of many financial institutions. From what we could tell, the process is rather simple and quick.
Alternatives to Pinnacle Bank
Chime®2
Chime doesn’t charge many fees34. That includes no monthly fees or foreign transaction fees. You also have the opportunity to receive your paycheck up to two days early with direct deposit5. Additionally, you can earn an APY of 2.00% (as of Sept. 9, 2024)6 on your Chime Savings7 balance.
…or read our full Chime review.
U.S. Bank8
The U.S. Bank Smartly Checking9 account makes sense if you want to avoid overdraft fees. This account comes with no-fee overdraft protection on overdrafts up to $5010. It also has an Overdraft Fee Forgiven program on overdrafts higher than $50 when you make a qualifying deposit on the same day. There’s a $6.95 monthly maintenance fee that can be waived by having a U.S. Bank consumer credit card or an average account balance of $1,500 or more.
...or read our full U.S. Bank Smartly Checking review.
Pinnacle Bank FAQ
Is Pinnacle Bank trustworthy?
Pinnacle Bank is a family-owned and operated bank with over 80 years of being in business. It’s a Member-FDIC bank with over 70 in-person locations across Nebraska, Kansas, and Missouri. Reviews of the Pinnacle Bank Nebraska mobile app say that it “works great and is really easy to navigate” and that there’s “nothing but good things to say about Pinnacle Bank.”
Is Pinnacle Bank insured by the FDIC?
Yes, Pinnacle Bank is a member of the Federal Deposit Insurance Corporation (FDIC). This means that your funds are insured up to $250,000 per depositor.
Which states does Pinnacle Bank serve?
Pinnacle Bank serves only the states of Nebraska, Missouri, and Kansas. Pinnacle is also a part of the Pinnacle Bancorp family of independent banks, which includes sister banks in Colorado, Wyoming, Texas, New Mexico, and Arizona.
Pinnacle Bank review: bottom line
We don’t recommend Pinnacle Bank for most people because it’s a regional bank that only serves customers in Nebraska, Kansas, and Missouri. If you live in one of these states, Pinnacle might make sense if you want in-person banking locations. However, keep in mind that you might be able to earn higher APY rates elsewhere.
If in-person branches aren’t important to you, there are better banking options available. Check out our recommendations for the best banks.
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