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AbbyBank Review

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AbbyBank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1968, AbbyBank has $464 million in assets along with $403 million in deposits, ranking it as a medium-size bank. AbbyBank, whose headquarters are in Abbotsford, Wisconsin, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a superb 4.5 out of 5 stars, AbbyBank proves it is an exceptional bank that warrants a serious look. AbbyBank offers a full suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, AbbyBank's ordinary checking account does not have a monthly fee. Using a bank with no-fee checking, in addition to a high interest rate savings account is the best option for returning the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

4.3
SmartAsset Average: 3.5

AbbyBank has a savings rate of 0.30%, which is poor in comparison to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 1.82% and 2.58%, respectively, while its highest-yielding money market account has an APY of 0.60%. Given its noncompetitive savings rate, you should think about looking at the competition to open savings accounts.

How AbbyBank's Savings Rates Compare

AbbyBank Savings 0.30 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

AbbyBank has generally extremely low fees compared to other U.S. banks. With no monthly fee, AbbyBank is perfect for those who want a basic banking experience. Also, at $30.00, it has a considerably lower overdraft fee compared to the average U.S. overdraft fee. AbbyBank unfortunately does not reimburse out-of-network ATM fees, meaning you'll be required to locate an AbbyBank ATM or eat the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

4.0
SmartAsset Average: 3.7

AbbyBank is a brick-and-mortar bank, with six total bank locations in Wisconsin. With mobile and web apps, AbbyBank makes mobile banking easy, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Thursday, 8:00 a.m. to 5:00 p.m. CT; Friday, 8:00 a.m. to 6:00 p.m. CT; Saturday, and 8:00 a.m. to 11:00 a.m. CT. AbbyBank's online and mobile banking services get fairly high marks from users. With 8 ratings across both Apple and Android platforms, the AbbyBank mobile app has an overall rating of 4.0 out of 5 (compared to the national average of 3.8). AbbyBank's mobile app lets you control your funds by checking current statements, transferring money as well as accessing support representatives. AbbyBank receives a superb consumer satisfaction rating based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

AbbyBank is a medium-size bank with $464 million in assets as well as $403 million in deposits. AbbyBank's Texas Ratio is 8.44%, signifying that the bank is in good financial well-being and unlikely to fail. Additionally, AbbyBank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

8.44%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare AbbyBank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $100
Checking Account 0.2% APY $1000
Certificates of Deposit
  • 12 Month: 1.82% APY
  • 24 Month: 2.12% APY
  • 36 Month: 2.33% APY
  • 48 Month: 2.43% APY
  • 60 Month: 2.58% APY
$10000 for all terms
Money Market Account 0.5% APY $1000

AbbyBank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. AbbyBank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. AbbyBank's CD rates are fair in comparison to the national average.

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Find a AbbyBank Near Me

AbbyBank has six locations across the U.S.

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