Intro – MB Financial Bank Reviews & Ranking
MB Financial Bank was recently ranked and reviewed by AdvisoryHQ as a top rated bank. 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 and selection process used during our MB Financial Bank review: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.
Below we have provided a detailed review of MB Financial Bank, including the specific factors we used in our decision-making process.
MB Financial Bank Review
MB Financial Bank has been known as a top performing bank for more than 100 years.
Headquartered in Chicago, MB Financial has associations with several subsidiaries including Cedar Hill Associates, LaSalle Solutions, Celtic Leasing Corporation, and MB Equipment Finance.
MB Financial Bank offers a range of personal and commercial banking products and services, as well as trust, private banking, and investment options offered through the bank’s wealth management division.
Photo courtesy of: MB Financial Bank
Key Factors Leading Us to Rank This Firm as One of This Year’s Top Banking Firms
Upon completing our MB Financial Bank reviews, MB Financial Bank was included in AdvisoryHQ’s ranking of this year’s best banking firms based on the following factors.
MB Financial Bank Review: MB Red Checking
MB Red is one of the premier checking accounts available from this pick for one of the top banking firms. The MB Red account offers the highest available interest rate on balances up to $10,000.
It also includes free, unlimited use of MB ATMs, and users pay no ATM fees when they use up to 4 non-MB ATMs per statement cycle.
There is no annual fee on the MB Platinum MasterCard credit card for these account holders, and they can enroll to receive free e-Statements and documents.
Also available are free online banking and bill pay, 24-hour access to the Phone Access Line, and an MB Debit MasterCard.
MB Financial Bank Review: Personal Secured Loan
One of the many loan options available from MB Financial Bank is personal secured loans. Personal secured loans from MB can be secured using a CD, savings account, or other collateral to make a particular purchase or consolidate debt.
These loans are ideal for paying off credit card debt or making a small purchase, and they can be used instead of savings to make sure cash is kept on hand for an emergency.
When you secure these personal loans with a savings account, 6-60 month terms are available, and the minimum loan amount is $500.
When you obtain the loan with a CD, the term matches the maturity date of the CD, and the minimum loan amount is $2,500.
MB Financial Bank Review: Blossom Account
The Blossom Account is a savings option for MB customers that provides a fixed rate like a CD, but it can be added to like a traditional savings account, giving savers the best of both worlds.
This is the perfect savings option for people who like the idea of a fixed rate but also want to have flexibility when it comes to adding money to their accounts.
Other benefits of the MB Blossom account include no monthly service charge, and the option to choose from a range of terms, so your savings is available when you need it.
You can also link it with automatic transfers from your checking account, and balances in this account can be used to maintain the minimum balance requirements of the MB Classic Checking and Signature Checking accounts.
MB Financial Bank Review: Overdraft Options
For customer peace of mind, MB offers several overdraft protection options in case of emergencies or unexpected situations.
The first option is to link your checking account to an MB savings account, which allows money to be automatically moved to help consumers avoid overdraft fees. With this option there is no cost to link accounts, and there’s only a $10 fee per automated transfer.
With MB Guard My Card you can connect the protection service to your MB Debit MasterCard, and it gives access to an additional $500. No credit check is required, and no extra costs are charged to enroll.
The final overdraft protection option from MB Financial, one of the top banking firms, is the ReserveLink line of credit.
The ReserveLink line of credit is unsecured and tied to a checking account, but it can be used to cover unexpected expenses. It provides a loan with current interest rates and requires credit approval. You won’t be charged overdraft fees, but users will have to pay interest on the amount they borrow.
In addition to reviewing the above MB Financial Bank review, you can click on any of the links below to browse exclusive reviews of AdvisoryHQ’s top rated banking & credit union firms:
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