The State Exchange Bank Review
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The State Exchange Bank Reviews

Andrew Omalley


Andrew Omalley

Short-term certificates of deposit
Short-term certificates of deposit
About The State Exchange Bank

The State Exchange Bank has been in business since as far back as the 19th century. While it has only gone online in recent years, it brings all of those years of experience to bear with its current offering.

You will find a great range of account options, including different checking, savings, and certificates of deposit options. The California-based bank has physical branches, as well as its online offering. With so many different account options, there should be something for everyone with this offering.









The State Exchange Bank Online Banking Review

The State Exchange Bank has plenty of account options, so most people should be able to find one that suits their situation. There is generally a low-fee structure in place, with many of the checking accounts allowing you to earn interest. While The State Exchange Bank is not very transparent when it comes to displaying account APYs, the rates are apparently quite competitive.

The State Exchange Bank Online Banking Highlights





Pros & Cons

  • Trusted bank
  • Wide range of checking account options
  • Numerous interest-bearing checking accounts
  • Easy online process
  • Not transparent with different account APYs
  • Certain account shave high minimum required balances to earn APY

Account Type

  • Checking
  • Savings
  • Certificates of Deposit (CD)


Account 1 Year 3 Years 5 Years
Savings Account 3.6% 3.6% 3.6%
CDs Undisclosed Undisclosed Undisclosed
NOW Checking Undisclosed Undisclosed Undisclosed
Super NOW Checking Undisclosed Undisclosed Undisclosed
Premier Money Market Account Undisclosed Undisclosed Undisclosed

Account Types

Regular Checking Account 

This is the most basic type of checking account at The State Exchange Bank and allows you to conduct most daily transactions. It costs $100 to open this account with a $1.50 monthly maintenance fee in place. You will also need to pay a $2 minimum balance fee if the average daily balance drops below $1,000.

Account Type Key Features Bonuses
Regular Checking
  • Costs $100 to open
  • Monthly account maintenance fees
  • Free ATM access

NOW Checking Account 

The Negotiable Order of Withdrawal (NOW) account is an option for people who want to earn some interest on their money while having the flexibility to make regular withdrawals. It costs $1,000 to open an account of this kind, with a $5 fee charged if your balance falls below $1,000 during a statement cycle. You need to keep at least $1,000 in the account to get the APY.

Account Type Key Features Bonuses
NOW Checking
  • Able to earn an APY
  • Costs $1,000 to open
  • Fee in place if don’t meet minimum balance target


Super NOW Checking Account 

The Super Now account allows you to earn a better APY on your money. It will cost $2,500 to open and there is a $5 fee if your balance falls below $2,500 in a statement cycle. The State Exchange Bank has not disclosed the APY for this account option.

Account Type Key Features Bonuses
Super NOW Checking
  • Able to earn an APY
  • Costs $2,500 to open
  • Fee in place if don’t meet minimum balance target


Premier Money Market Account 

This is another interest-bearing account option that has some withdrawal capabilities. It costs $25,000 to open and you face fees if you do not keep a minimum balance of $25,000. You also need to meet the minimum balance requirement to earn interest. 

Account Type Key Features Bonuses
Premier Money Market
  • Able to earn an APY
  • Costs $25,000 to open
  • Fee in place if don’t meet minimum balance target


Student Checking Account 

The student account option allows people who are in school to make regular payments and deposits without having to worry about any extra fees. There is no minimum balance requirement in place or any per item fees. It will cost a $100 deposit to open and is open to full-time students who are younger than 25. 

Account Type Key Features Bonuses
Student Checking
  • No minimum balance requirement
  • No per item fees
  • Costs $100 to open


Senior Checking Account 

There’s no minimum balance requirement in place for a senior account and no per item fees are in place. It will cost $100 to open and the minimum age to open this type of account will be 62 years old.

Account Type Key Features Bonuses
Senior Checking
  • Costs $100 to open
  • No minimum balance requirement
  • Must be at least 62 years old


Savings Account 

There is only one type of savings account available at The State Exchange Bank. It offers an APY of 3.6% and the interest is paid quarterly on the daily balance. It costs $0 to open this account and you can make up to nine free withdrawals a month.

Account Type Key Features Bonuses
Savings Account
  • APY of 3.6%
  • Costs $10 to open
  • Only savings account


Certificates of Deposit (CD)

 There are CDs available at The State Exchange Bank covering a range of different term lengths. The shortest term is 91 days and the longest is 5 years. You will need to deposit at least $1,000 if you wish to proceed and there are usually early withdrawal penalties in place. The State Exchange Bank does not disclose the APYs for CDs. 

Account Type Key Features Bonuses
Certificates of Deposit
  • Minimum $1,000 investment needed
  • Terms of between 91 days and 5 years
  • Early withdrawal penalties

Opening an Account With The State Exchange Bank

If you want to open an account with The State Exchange Bank, you can do so online. You initially select a banker, enter your full name, email address, phone number, and write a message regarding the type of account you wish to open.

Then you will be taken to a secure platform where you can upload your photo ID, Social Security Number, and other important info that needs to be transmitted in a safe manner. The entire process takes just a few minutes to complete.

You can usually get approved instantly for the account you are applying for and you can make your initial deposit straight away. You will need to meet the minimum opening deposit requirements to use a given account.

State Availability

Available in all states

Privacy & Security

The State Exchange Bank has been in business since 1890, so it clearly knows a thing or two about looking after its customers in the right way. It has survived for that long by always treating its customers with the utmost care.

In terms of security measures it takes with customer data, all communications through the platform are fully encrypted. There is also FDIC insurance on relevant accounts, which gives you extra peace of mind when you are placing money in the hands of a given institution.

Customer Support

There’s a range of ways in which you can contact the State Exchange Bank support team. While it doesn’t disclose the opening hours, telephone support is an option, as well as email and live chat support.

One great thing about the State Exchange Bank website is that it provides plenty of concise information about the different account options. There is plenty of transparency and it allows you to quickly compare the various accounts.

Phone Support
580 388 4345

In Conclusion

The State Exchange Bank has been around for a long time and it is continually trying to evolve and improve its offering, there aren’t too many online banking providers that have as many account options as what you get with The State Exchange Bank. There should be something for every need, whether you are looking for savings accounts, checking accounts, or certificates of deposit.


Does The State Exchange Bank offer checking accounts especially focused on students?
Yes, there is a student checking account in place that is optimized to suit the needs of something who is still in education.
Do The State Exchange Bank accounts carry any fees?
A lot of the account options at The State Exchange Bank will carry certain small maintenance fees relating to debit cards or if your account balance falls below a given level.
Is there a minimum required opening deposits for The State Exchange Bank accounts?
Most of the account options at The State Exchange Bank will carry some minimum required deposit requirements. These will vary depending on the exact account option.

The State Exchange Bank Disclaimer

Any communication or material that you transmit to us through this website or through electronic mail may be used only by The State Exchange Bank for the purposes described in our privacy policy. All information submitted to our website shall be considered and shall remain the property of The State Exchange Bank; this information will only be used internally for the purpose intended or as allowed by law.

The State Exchange Bank shall be free to use, for any purpose, any idea, concept, know-how or technique contained in information submitted by a visitor to us through this website and The State Exchange Bank shall not be subject to any obligations of confidentiality regarding submitted information except as agreed by direct customer relationship, or as otherwise specifically agreed or required by law. Nothing contained herein shall be construed as limiting or reducing The State Exchange Bank responsibilities and obligations to customers in accordance with our privacy policy.

If you need to communicate personal or confidential information, please do not use the email feature on this website, it is not a secure email service. Instead contact us by telephone, or you may use the secure mail feature within our Internet Banking Service.


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Andrew Omalley

Andrew is a freelance writer who has been crafting valuable pieces of content relating to personal finance for more than five years. Previously, he studied Economics & Finance at university and he has professional qualifications relating to financial advice.